North America Building Insulation Materials Market: Industry Analysis and Forecast (2024-2030)

North America Building Insulation Materials Market Definition

 

Building Insulation materials are used in the construction industry to prevent heat, electricity, or sound from passing through electrical appliances and building materials. The insulation materials market is essentially classified in three broad categories, including thermal insulation, electrical insulation, and heat insulation. The proper installation of high-quality insulation materials is the key to a successful insulation system. Insulation is an important technology for reducing energy usage and preventing heat gain/loss in buildings. It acts as a heat barrier and is necessary for keeping homes warm in the winter and cool in the summer. The appropriate level and type of insulation are influenced by the weather. The thermal conductivity of insulating materials is typically less than 0.1 W/mK. Insulation materials include polyurethane foam, mineral wool, polyethylene, polyvinyl chloride, expanded polystyrene, and extruded polystyrene. These materials exist solely to save energy while also protecting and providing comfort to occupants.

 

A structure serves as an environmental divider. It divides the inside from the outside. Residential insulation is a critical technique for lowering energy consumption in homes by limiting heat absorption and loss via the building envelope. Insulation materials used in residential construction include polyurethane foam and extruded polystyrene. Increased demand for thermal insulators in residential, non-residential, and industrial buildings has resulted from rising global temperatures and significant climatic changes over the last few decades, in order to save energy and provide comfort for inhabitants.

 

 

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North America Building Insulation Materials Market Dynamics

 

Market Drivers

• Increasing Price of Energy in the Region – Energy demand is increasing in both developed and emerging countries, as is the price of energy. Insulating a property can save up to 20% on energy costs by lowering cooling and heating costs in the summer and winter, respectively. Despite the fact that housing sector growth has slowed in the United States, the re-insulation market is one of the market's growth drivers. According to a study conducted by the US Environmental Protection Agency, proper insulation in a building can save up to 20% on heating and cooling costs. Rigid PU foams and spray PU foams are commonly used as insulation materials in buildings to reduce heating and cooling losses, hence enhancing the building's overall energy efficiency. Increasing energy prices, as well as the growing importance of sustainable infrastructure, are driving PU demand in construction insulation applications.
• Government Initiatives in North American Countries - Effective home insulation is eligible for a tax credit of 10% of the cost of insulating materials and systems, excluding installation charges. The home insulation market in the United States benefited greatly from these government measures, which included both labour training and financial assistance. Furthermore, favourable building rules in the United States and Canada, as well as the emergence of energy certification agencies like LEED and the United States Green Building Council, are likely to boost the North American insulation industry.

 

Market Restraints

• Health Concerns – In North America, a key stumbling hindrance to the market's expansion is health concerns over the use of a few insulating materials. When utilised throughout the laying process, glass wool, for example, might irritate the eyes and lungs. Styrene emissions have been limited throughout the manufacturing process of carcinogenic expanded and extruded polystyrenes. The health hazards associated with these insulating solutions, as well as the strict laws surrounding their use, may limit their adoption, making market expansion difficult.
• Covid-19 Impact - The pandemic of COVID-19 has a negative impact on the North American market for building insulation materials. Construction operations for both the residential and commercial segments were halted or cancelled as a result of the global lockdowns implemented to prevent the spread of the COVID-19 pandemic. The upkeep of pre-existing structures has also been postponed. On the other hand, the supply chain was disrupted, making it difficult to move people, resources, and money in order to restore the global building insulation materials market's growth. Furthermore, the impact of the COVID-19 epidemic on the financial health of the construction and building sector, as well as individuals, resulted in builders refusing to construct and the general public refusing to buy or repair their enterprises. All of these variables combined resulted in a decrease in building insulation materials sales and income.

 

North America Building Insulation Materials Market Segment Analysis

 

By Product, the North America Building Insulation Materials Market is segmented as Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), Mineral Wool, Others. Expanded Polystyrene dominates the Building Insulation Materials Market with the market share of 47% in 2023 as it is one of the most widely used foamed plastics for thermal insulation in buildings. It's a sort of insulation with outstanding features like sound absorption, light weight, and earthquake resistance. Insulation of pipe to prevent heat gain, condensation, or frost formation on water and air conditioning lines is one of the most common uses. Extruded Polystyrene has the market share of 30.5% in 2023 because of its ability to decrease moisture-related damages, its water resistance, and its ability to save energy Furthermore, its ability to prevent microbial or fungal growth in the insulated area is predicted to aid growth. Mineral wool has the market the market share of 16 % in 2023 because of the product's exceptional properties, such as fire safety, effective heat barrier, ecological compatibility, and dimensional stability. Mineral wool's rise is predicted to be fuelled by its increasing use in thermal barrier applications over the projection period. Other materials such as PU foam and PIR foam has the market share of 6.5% in 2023.

 

 

By Application, the North America Building Insulation Materials Market is segmented as Roof, Wall, Floor. Wall segment dominates the North America Building Insulation Materials Market with the market share of 39% in 2023 as in residential and commercial structures, it utilised high-class architecture and maintained high energy efficiency standards. Walls play a critical part in ensuring that a building's energy consumption targets are met. This element is expected to boost the segment's growth in the near future. Roof Segment has the market share of 34.8% in 2023 due to commercial spaces all over North America, particularly in emerging economies. Because insulation materials play such an important role in the market, the increased importance of sustaining thermal construction requirements is projected to drive demand for them. Floor segment has the market share of 26.2% in 2023 due to high amount of high-rise buildings in the region but this segment will show a moderate growth as a result of increased desire to lower the energy costs of HVAC applications.

 

The objective of the report is to present a comprehensive analysis of the North America Building Insulation Materials Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America Building Insulation Materials Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the North America Building Insulation Materials Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the North America Building Insulation Materials Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the North America Building Insulation Materials Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the North America Building Insulation Materials Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the North America Building Insulation Materials Market. The report also analyses if the North America Building Insulation Materials Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the North America Building Insulation Materials Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Building Insulation Materials Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Building Insulation Materials Market is aided by legal factors.

 

North America Building Insulation Materials Market Scope

 

North America Building Insulation Materials Market
Market Size in 2023	USD 8.99 Bn.
Market Size in 2030	USD 10.33 Bn.
CAGR (2024-2030)	2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Application   Floor Roof Wall
	By  Product   Expanded Polystyrene (EPS) Extruded Polystyrene (XPS)
Country Scope	United States Canada Mexico

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America Building Insulation Materials Market Key Players

• Johns Manville Corporation (US)
• Saint-Gobain S.A. (France)
• BASF SE (Germany)
• Kingspan Group plc (Ireland)
• Knauf Insulation, Inc. (US)
• Owens Corning (US)
• Huntsman Corporation (US)
• Rockwool International A/S (Denmark)
• Firestone Building Products Company (US)
• Cabot Corporation (US)
• Dow Corning Corporation (US)
• Covestro AG (Germany)
• URSA Insulation
• S.A. (Spain)
• Paroc Group Oy (Finland)
• Atlas Roofing Corporation (US)