세계의 단열재 시장 예측 : 재료 유형별, 용도별, 지역별 분석(-2032년)

According to Stratistics MRC, the Global Thermal Insulation Materials Market is accounted for $80.56 billion in 2025 and is expected to reach $121.13 billion by 2032 growing at a CAGR of 6.0% during the forecast period. Thermal insulation materials function to limit heat flow between spaces or objects, improving energy efficiency and maintaining comfort across buildings, industrial setups, and transportation systems. Popular insulation options include fiberglass, mineral wool, foam panels, aerogels, and reflective materials, each providing unique thermal resistance, longevity, and ease of application. These materials help retain heat in colder climates and block excess heat in warmer conditions, leading to lower energy usage and a smaller carbon footprint. Recent developments emphasize eco-friendly, lightweight, and high-performance insulation that sustains its effectiveness over time. Choosing the right material and installing it correctly is essential for maximizing thermal efficiency and achieving cost-effective energy management.

According to the International Energy Agency (IEA), buildings account for around 30% of global energy demand, with space and water heating making up about 70% of household energy use in advanced economies. Incorporating thermal insulation significantly reduces heating and cooling loads, directly lowering energy consumption.

Market Dynamics:

Driver:

Growing construction industry

The global growth in construction activities is significantly driving the demand for thermal insulation materials. Rising urbanization, infrastructure expansion, and increasing residential and commercial developments are fueling the need for energy-efficient building solutions. Insulation materials help maintain indoor temperature, lower energy costs, and meet regulatory standards. With a stronger focus on sustainable construction and green building initiatives, the adoption of high-performance insulation continues to grow. Both new buildings and renovation projects rely on effective thermal insulation to improve structural longevity and thermal performance. Particularly in emerging markets, the rapid growth of construction projects directly boosts the need for innovative and economical thermal insulation materials.

Restraint:

High initial costs

The substantial upfront costs associated with thermal insulation materials restrict market expansion. Advanced solutions like aerogels, vacuum panels, and specialized foams are more expensive than traditional options. This price factor often discourages small businesses and homeowners from investing, even though energy savings are substantial over time. Installation requires skilled labor, further increasing the total expenditure. In areas with minimal government incentives or low energy-efficiency awareness, high-performance insulation adoption is limited. Despite long-term advantages such as lower energy bills and enhanced thermal comfort, the initial financial burden prevents large-scale usage, posing a major challenge for manufacturers and slowing the overall growth of the thermal insulation materials market.

Opportunity:

Advancements in insulation technology

Innovations in insulation technology are creating significant growth prospects for the thermal insulation materials market. Cutting-edge materials like aerogels, vacuum panels, and nanotechnology-enhanced solutions provide excellent thermal resistance, reduced weight, and durability over time. These advancements enable insulation applications in high-rise buildings, industrial facilities, and transportation sectors. Enhanced production techniques also lower manufacturing costs and improve material efficiency. With global energy efficiency standards tightening, the demand for advanced insulation solutions is rising. Companies focusing on research and development can gain competitive advantages by delivering innovative, high-performance, and cost-efficient products that meet both consumer expectations and regulatory requirements, thereby expanding their presence in the evolving insulation market.

Threat:

Substitution by alternative materials

Substitution by alternative solutions presents a significant threat to the thermal insulation materials market. Innovative products like structural insulated panels, phase-change materials, and reflective coatings provide similar energy efficiency and thermal performance. As these alternatives become more affordable and widely available, they can replace conventional insulation in residential, commercial, and industrial settings. Consumer demand for multifunctional, lightweight, and eco-friendly solutions further accelerates this trend. Traditional insulation manufacturers risk declining sales if they fail to innovate or respond to changing market preferences. The rise of substitute materials challenges market share, revenue growth, and competitive positioning, making it a critical threat to companies operating in the thermal insulation industry.

Covid-19 Impact:

The COVID-19 outbreak had a notable impact on the thermal insulation materials market by disrupting production, supply chains, and construction operations worldwide. Lockdowns, workforce shortages, and transportation limitations caused delays in building projects and lowered immediate demand for insulation across residential, commercial, and industrial applications. Variations in raw material availability and rising logistics expenses further affected manufacturing and pricing structures. Nevertheless, the pandemic underscored the need for energy-efficient and sustainable buildings, prompting renewed interest in insulation during post-pandemic construction and renovation efforts. As economies recover, market demand is gradually increasing, supported by government infrastructure investments, stimulus initiatives, and heightened awareness of energy efficiency, comfort, and sustainability in buildings.

The mineral wool segment is expected to be the largest during the forecast period

The mineral wool segment is expected to account for the largest market share during the forecast period due to its superior thermal insulation, soundproofing, and fire-resistance capabilities. It finds extensive use in residential, commercial, and industrial applications, including roofing, walls, and HVAC systems, ensuring energy efficiency and indoor comfort. Builders and contractors favor mineral wool for its durability, moisture resistance, and straightforward installation. Its compliance with environmental standards and building regulations further strengthens its market position. Continuous innovations, such as improvements in density, composition, and binder technology, enhance performance and usability. These advantages collectively make mineral wool the dominant choice in the global thermal insulation materials market, surpassing other insulation segments.

The HVAC (heating, ventilation, air conditioning systems) segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the HVAC (heating, ventilation, air conditioning systems) segment is predicted to witness the highest growth rate, driven by increasing demand for energy-efficient heating, ventilation, and air conditioning solutions. Expanding construction projects, strict energy regulations, and the need for indoor comfort are boosting the use of insulation in HVAC ducts, pipelines, and equipment. Proper thermal insulation in HVAC systems minimizes energy consumption, prevents heat transfer, and ensures effective system operation. Innovations in insulation materials and installation methods further improve efficiency. With rising emphasis on sustainable building practices and energy savings in residential and commercial properties, the HVAC segment is emerging as the fastest-growing area within the global thermal insulation materials market.

Region with largest share:

During the forecast period, the North America region is expected to hold the largest market share due to its mature construction and industrial sectors, strict energy efficiency standards, and strong focus on sustainable building practices. Green building certifications, energy conservation programs, and government incentives encourage widespread use of advanced insulation solutions. Thermal insulation is increasingly applied in residential, commercial, and industrial projects to lower energy consumption and improve indoor comfort. Ongoing technological innovations and significant R&D investments enhance product performance and market competitiveness. The presence of leading insulation manufacturers, coupled with the growing trend of retrofitting older buildings, reinforces North America's leading market position, establishing it as the region with the largest share in the global thermal insulation materials market.

Region with highest CAGR:

Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR due to rapid urban development, industrial expansion, and infrastructure projects in nations such as China, India, and other Southeast Asian countries. Increasing construction activities, higher disposable incomes, and heightened awareness of sustainable practices are fueling the demand for insulation across residential, commercial, and industrial applications. Supportive government policies and energy efficiency regulations further accelerate adoption. Expansion of local manufacturing capabilities and technological improvements in insulation solutions also drive growth. Collectively, these factors position Asia-Pacific as the region with the highest growth rate, offering significant market potential and attractive opportunities for industry players.

Key players in the market

Some of the key players in Thermal Insulation Materials Market include BASF SE, Kingspan Group PLC, Huntsman International LLC, Johns Manville Corporation, Owens Corning Corporation, Atlas Roofing Corporation, Rockwool International A/S, Armacell International S.A., Saint-Gobain S.A., GAF Materials Corporation, 3M Company, Dow Inc., Knauf Insulation, Asahi Kasei Corporation and Recticel.

Key Developments:

In July 2025, BASF and Equinor have signed a long-term strategic agreement for the annual delivery of up to 23 terawatt hours of natural gas over a ten-year period. The contract secures a substantial share of BASF's natural gas needs in Europe. This agreement further strengthens our partnership with BASF. Natural gas not only provides energy security to Europe but also critical feedstock to European industries.

In March 2025, 3M and Sumitomo Electric Industries, Ltd. (Sumitomo Electric) announce an assembler agreement enabling Sumitomo Electric to offer variety of optical fiber connectivity products featuring 3M(TM) Expanded Beam Optical (EBO) Interconnect technology, a high-performance solution to meet scalability needs of next-generation data centers and advanced network architectures.

In July 2024, Kingspan Group plc and LONGi Green Energy Technology Co., Ltd. (LONGi) have jointly announced the formalisation of a strategic partnership. This collaboration aims to integrate advanced solar technology with innovative building materials, paving the way for more sustainable construction and energy solutions.

Material Types Covered:

• Mineral Wool
• Plastic Foam
• Aerogels
• Cellulose & Natural Fibers
• Other Material Types

Applications Covered:

• Building & Construction
• Industrial
• HVAC (Heating, Ventilation, Air Conditioning systems)
• Automotive
• Marine & Aerospace

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Thermal Insulation Materials Market, By Material Type

• 5.1 Introduction
• 5.2 Mineral Wool
  • 5.2.1 Glass Wool
  • 5.2.2 Stone Wool
• 5.3 Plastic Foam
  • 5.3.1 Expanded Polystyrene (EPS)
  • 5.3.2 Extruded Polystyrene (XPS)
  • 5.3.3 Polyurethane (PUR/PIR)
• 5.4 Aerogels
• 5.5 Cellulose & Natural Fibers
• 5.6 Other Material Types

6 Global Thermal Insulation Materials Market, By Application

• 6.1 Introduction
• 6.2 Building & Construction
  • 6.2.1 Residential
  • 6.2.2 Non-residential
• 6.3 Industrial
• 6.4 HVAC (Heating, Ventilation, Air Conditioning systems)
• 6.5 Automotive
• 6.6 Marine & Aerospace

7 Global Thermal Insulation Materials Market, By Geography

• 7.1 Introduction
• 7.2 North America
  • 7.2.1 US
  • 7.2.2 Canada
  • 7.2.3 Mexico
• 7.3 Europe
  • 7.3.1 Germany
  • 7.3.2 UK
  • 7.3.3 Italy
  • 7.3.4 France
  • 7.3.5 Spain
  • 7.3.6 Rest of Europe
• 7.4 Asia Pacific
  • 7.4.1 Japan
  • 7.4.2 China
  • 7.4.3 India
  • 7.4.4 Australia
  • 7.4.5 New Zealand
  • 7.4.6 South Korea
  • 7.4.7 Rest of Asia Pacific
• 7.5 South America
  • 7.5.1 Argentina
  • 7.5.2 Brazil
  • 7.5.3 Chile
  • 7.5.4 Rest of South America
• 7.6 Middle East & Africa
  • 7.6.1 Saudi Arabia
  • 7.6.2 UAE
  • 7.6.3 Qatar
  • 7.6.4 South Africa
  • 7.6.5 Rest of Middle East & Africa

8 Key Developments

• 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 8.2 Acquisitions & Mergers
• 8.3 New Product Launch
• 8.4 Expansions
• 8.5 Other Key Strategies

9 Company Profiling

• 9.1 BASF SE
• 9.2 Kingspan Group PLC
• 9.3 Huntsman International LLC
• 9.4 Johns Manville Corporation
• 9.5 Owens Corning Corporation
• 9.6 Atlas Roofing Corporation
• 9.7 Rockwool International A/S
• 9.8 Armacell International S.A.
• 9.9 Saint-Gobain S.A.
• 9.10 GAF Materials Corporation
• 9.11 3M Company
• 9.12 Dow Inc.
• 9.13 Knauf Insulation
• 9.14 Asahi Kasei Corporation
• 9.15 Recticel