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North America Thermal Insulation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Material Type (Fiber Glass, Plastic Foam, Stone Wool, Calcium Silicate, Cellular Glass, and Others) and Industry Vertical (Building and Construction, Oil and Gas, Chemical, Aerospace and Defense, Automotive, Pharmaceutical, and Others)
Market Report I 2022-12-20 I 130 Pages I The Insight Partners
The North America thermal insulation market is expected to grow from US$ 12,385.91 million in 2022 to US$ 17,591.02 million by 2028. It is estimated to grow at a CAGR of 6.0% from 2022 to 2028.
Growth in the Building and Construction Industry
Thermal insulation is a powerful technology that is used to reduce energy consumption in buildings by preventing heat gains or losses through the building covering. Thermal insulation is a construction material with minimal thermal conductivity, often less than 0.1W/mK. These materials save energy and provides comfort to residents by reducing the amount of heat transferred inside. Consumers are concentrating on the sustainable development of building construction projects, which is encouraging product demand. Using thermal insulation in buildings can reduce energy consumption, drastically decreasing the harmful effects on the climate and environment. Minimal maintenance, low operational costs, and high energy efficiency are helping to propel the green building development projects across the region. Further, the sustained amount of work in the public sector in areas including public housing and civil engineering is encouraging the growth of the construction industry in several nations, making prices broadly stable: thus, increasing the overall growth of the building & construction industry, thereby aiding the adoption of thermal insulation across the region.
Market Overview
The North America thermal insulation market is segmented into the US, Canada, and Mexico. North America is considered one of the prominent regions in the thermal insulation market. The growing demand for thermal insulation in the construction industry, such as residential and commercial buildings, is driving the market for thermal insulation. Fiberglass insulation material is expected to have a surge in demand from the rebounding construction sector in the US and Canada. The product is widely used in North America and is the region's preferred choice of thermal insulating material due to its properties, low cost, and ease of installation. The increasing awareness among consumers regarding energy conservation and the employment of regulatory policies by North American countries to reduce greenhouse gas emissions are expected to positively impact the growth of the thermal insulation market in the region. Government initiatives such as the US Department of Energy (DOE) Weatherization Assistance Program (WAP) are promoting the use of thermal insulation, especially in low-income households. The program aims at reducing energy costs for low-income households by increasing the energy efficiency of their homes while ensuring health and safety. The weatherization program services ~35,000 homes every year using DOE funds, and through weatherization improvements and upgrades, these households save on average US$372 or more every year, according to a national evaluation of the program. Moreover, the International Code Council develops model residential energy codes every three years, referred to as the International Energy Conservation Code (IECC). The 2021 Residential IECC requires increased R-values in insulation in attics, slabs, and continuous insulation for walls. It also includes new options for insulation on wood-framed walls and basement walls. Thus, increased awareness regarding energy conservation and implementation of energy-efficient regulations and policies is driving the demand for thermal insulation in North America. According to the Federal Aviation Administration (FAA), practically all commercial aircraft must have thermal and acoustic insulation. These insulators ensure that the passengers' comfort is not affected by exterior temperature variations and that excessive noise the aircraft creates does not interfere with communication. Further, the growing aerospace industry in countries such as the US is providing growth opportunities for the thermal insulation market in North America.
North America Thermal Insulation Market Revenue and Forecast to 2028 (US$ Million)
North America Thermal Insulation Market Segmentation
The North America thermal insulation market is segmented based on material type, industry vertical, and country.
Based on material type, the North America thermal insulation market is segmented into fiber glass, plastic foam, stone wool, calcium silicate, cellular glass, and others. The fiber glass segment held the largest share of the market in 2022. Based on industry vertical, the North America thermal insulation market is segmented into building and construction, oil and gas, chemical, aerospace and defense, automotive, pharmaceutical, and others. The building and construction segment held the largest share of the market in 2022. Based on country, the North America thermal insulation market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022. Asahi Kasei Corporation, BASF SE, Bayer AG, Dow Chemicals Company, DuPont, Johns Manville, Kingspan Group PLC, Owens Corning, ROCKWOOL A/S, and Saint Gobain S.A. are the leading companies operating in the North America thermal insulation market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. North America Thermal Insulation Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Expert Opinion
5. North America Thermal Insulation Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in demand for lightweight thermal insulation
5.1.2 Growth in the building and construction industry
5.2 Market Restraints
5.2.1 High cost of installing thermal insulation
5.3 Market Opportunities
5.3.1 Expansion of aerospace industry in emerging economies
5.4 Future Trends
5.4.1 Increasing demand for high-temperature thermal insulation
5.5 Impact Analysis of Drivers and Restraint
6. Thermal Insulation Market - North America Analysis
6.1 North America Thermal Insulation Market -Revenue and Forecast to 2028
7. North America Thermal Insulation Market Analysis - By Material Type
7.1 Overview
7.2 North America Thermal Insulation Market, By Material Type (2021 and 2028)
7.3 Fiber Glass
7.3.1 Overview
7.3.2 Fiber Glass: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Plastic Foam
7.4.1 Overview
7.4.2 Plastic Foam: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Stone Wool:
7.5.1 Overview
7.5.2 Stone Wool: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.6 Calcium Silicate:
7.6.1 Overview
7.6.2 Calcium Silicate: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.7 Cellular Glass:
7.7.1 Overview
7.7.2 Cellular Glass: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.8 Others:
7.8.1 Overview
7.8.2 Others: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8. North America Thermal Insulation Market Analysis - By Industry Vertical
8.1 Overview
8.2 North America Thermal Insulation Market, By Industry Vertical (2021 and 2028)
8.3 Building and Construction
8.3.1 Overview
8.3.2 Building and Construction: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Oil and Gas
8.4.1 Overview
8.4.2 Oil and Gas: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Chemical
8.5.1 Overview
8.5.2 Chemical: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Aerospace and Defense
8.6.1 Overview
8.6.2 Aerospace and Defense: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Automotive
8.7.1 Overview
8.7.2 Automotive: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.8 Pharmaceutical
8.8.1 Overview
8.8.2 Pharmaceutical: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
9. North America Thermal Insulation Market - Country Analysis
9.1 Overview
9.1.1 North America: Thermal Insulation Market, by Key Country
9.1.1.1 US: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Thermal Insulation Market, by Material Type
9.1.1.1.2 US: Thermal Insulation Market, by Industry Vertical
9.1.1.2 Canada: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Thermal Insulation Market, by Material Type
9.1.1.2.2 Canada: Thermal Insulation Market, by Industry Vertical
9.1.1.3 Mexico: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Thermal Insulation Market, by Material Type
9.1.1.3.2 Mexico: Thermal Insulation Market, by Industry Vertical
10. Industry Landscape
10.1 Overview
10.2 Merger and Acquisitions
10.3 Product News
10.4 Expansion
11. Company Profile
11.1 BASF SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Bayer AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 ROCKWOOL A/S
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Johns Manville
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Saint Gobain S.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Kingspan Group PLC
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Dow Chemicals Company
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Owens Corning
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Asahi Kasei Corporation
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 DuPont
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Thermal Insulation Market, by Country - Revenue and Forecast to 2028 (USD Million)
Table 3. US Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 4. US Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 5. Canada Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 6. Canada Thermal Insulation Market, by Industry Vertical- Revenue and Forecast to 2028 (USD Million)
Table 7. Mexico Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 8. Mexico Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 9. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Thermal Insulation Market Segmentation
Figure 2. North America Thermal Insulation Market Segmentation - By Country
Figure 3. North America Thermal Insulation Market Overview
Figure 4. North America Thermal Insulation Market, By Material Type
Figure 5. North America Thermal Insulation Market, By Country
Figure 6. North America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. North America Thermal Insulation Market Impact Analysis of Drivers and Restraints
Figure 9. North America: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. North America Thermal Insulation Market Revenue Share, By Material Type (2021 and 2028)
Figure 11. North America Fiber Glass: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 12. North America Plastic Foam: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 13. North America Stone Wool: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 14. North America Calcium Silicate: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 15. North America Cellular Glass: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 16. North America Others: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 17. North America Thermal Insulation Market Revenue Share, By Industry Vertical (2021 and 2028)
Figure 18. North America Building and Construction: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 19. North America Oil and Gas: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 20. North America Chemical: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 21. North America Aerospace and Defense: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 22. North America Automotive: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 23. North America Pharmaceutical: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 24. North America Others: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 25. North America: Thermal Insulation Market, by Key Country - Revenue (2021) (US$ 'Million)
Figure 26. North America: Thermal Insulation Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. US: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
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