Insulation Market Size To Reach $102.46 Billion By 2030

January 2024 | Report Format: Electronic (PDF)

Insulation Market Growth & Trends

The global insulation market size is expected to reach USD 102.46 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rapid urbanization & industrialization and rising population in developing countries are estimated to boost the market growth in the projected period. Government initiatives to promote energy efficiency and sustainable development through insulation technologies are estimated to fuel the product demand from the industrial end-use segment. Initiatives through the Weatherization Assistance Program (WAP) by the U.S. government through federal funding to encourage the use of thermal insulation in low-income households are likely to drive the market growth in the North America region.

Strict insulation codes and laws effectuated by the European regulatory authorities have increased awareness about rising energy costs and the need for energy efficiency. The demand for industrial insulation is also estimated to exhibit high growth owing to the growing thermal energy production, which calls for the extensive need for insulation to maximize efficiency. In addition, the market in the U.S. is expected to benefit from recovering nonresidential building construction expenditures, particularly in the office and commercial segments. The rising awareness levels regarding environmentally friendly construction practices are expected to propel the product demand with an aim to reduce energy consumption.

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Insulation Market Report Highlights

  • EPS insulation emerged as the largest product segment and accounted for a 27.3% share of the global revenue in 2023

  • The segment is estimated to continue its dominance over the forecast period due to the high demand for EPS on account of its lightweight and high-tensile plastic foam insulation property

  • Glass wool is expected to be the second-largest product segment by 2030 owing to its thermal and acoustic insulation properties, such as high tensile strength

  • Asia Pacific region led the market and accounted for the largest market share of 41.8% in 2023. The reason is, rising oil production in the economies of China and India and rising concerns regarding significant energy wastage coupled with the demand for materials in refurbishing and renovation.

Insulation Market Segmentation

Grand View Research has segmented the global insulation market based on product, end-use, and region:

Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Glass Wool

  • Mineral Wool

  • EPS

  • XPS

  • CMS Fibers

  • Calcium Silicate

  • Aerogel

  • Cellulose

  • PIR

  • Phenolic Foam

  • Polyurethane

Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Industrial

  • HVAC & OEM

  • Transportation

  • Appliances

  • Furniture

  • Packaging

Insulation Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

  • Middle East & Africa

List of Key Players of Insulation Market

  • GAF Materials Corporation

  • Huntsman International LLC

  • Johns Manville

  • Cellofoam North America, Inc.

  • Rockwool International A/S

  • DuPont

  • Owens Corning

  • Atlas Roofing Corporation

  • Saint-Gobain S.A.

  • Kingspan Group

  • BASF

  • Knauf Insulation

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