The report "Thermal
Insulation Material Market
by Material Type (Fiberglass, Stone Wool, Foam, Wood Fiber), Temperature range
(0-100?, 100-500?, 500? and above), End use industry (Construction, Automotive,
HVAC, Industrial), and Region - Global Forecast to 2028", The thermal insulation material market is
projected to reach USD 96.0 billion by 2028, at a CAGR of 6.0% from USD 71.7
billion in 2023. The thermal insulation material market is mainly driven by the
demand for thermal insulation material in various end-use industries, including
construction, automotive, HVAC and industrial applications coupled with the
increasing demand for indoor air quality, energy efficiency regulations and
concerns for the environmental impact. Moreover, it is also driven by rapidly
developing and emerging economies.

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Browse in-depth TOC on "Thermal Insulation Material Market"

128 - Tables

47 - Figures

186 – Pages

Fiberglass by material type is projected to grow at
fastest CAGR, in terms of value, during the forecast period.

Fiberglass is projected to be the fastest-growing segment
in the global thermal insulation material market by material type, in terms of
value, during the forecast period. One of its primary benefits is its strength
and durability. Fiberglass is incredibly strong and can withstand heavy loads
and impacts, making it ideal for use in structures and products that require
high strength and longevity. Additionally, fiberglass is lightweight, which
makes it easy to transport and install. It is also highly resistant to
corrosion and extreme weather conditions, making it a good choice for use in
harsh environments other benefits of fiberglass include its insulation
properties, fire resistance, and low maintenance requirements. Because of these
benefits, fiberglass is widely used in industries such as construction,
automotive, aerospace, marine, and more.

0-100? is projected to be the fastest growing temperature
range in the market, in terms of value.

Thermal insulation materials that can withstand
temperatures ranging from 0 to 100 degrees Celsius are widely available and
commonly used in a variety of applications. These materials include mineral
wool, polyurethane foam, cellulose insulation, fiberglass insulation, and
aerogel insulation. This range of temperatures is relevant for a variety of
applications because it includes typical indoor temperatures, the range of
temperatures commonly found in many industrial settings, and the range of
temperatures experienced by many vehicle components.

In building construction, thermal insulation materials
with resistance to this range of temperatures are used to improve energy
efficiency, reduce heating and cooling costs, and increase overall comfort.
These materials help to prevent heat transfer through walls, floors, and roofs,
keeping indoor spaces cooler in the summer and warmer in the winter. Thus,
helping to improve energy efficiency, increase safety, and reduce maintenance
costs.

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Europe is expected to be the fastest growing market for
thermal insulation material during the forecast period, in terms of value.

Europe was the largest thermal insulation material
market, in terms of value, in 2021. The European market is regulated by
Registration, Evaluation, Authorisation and Restriction of Chemical Substances
(REACH), which monitors and sets up the guidelines for protecting the
environment and preventing health hazards from chemical substances. Industrial
expansion and technological developments in the region are driving the
consumption of thermal insulation material. Market growth is also expected to
be supported by the improving global economy. The rising investments are
contributing to the growth of the manufacturing industry in Germany. Economies,
including Germany, the UK, France, Poland, Italy, Spain, and are important
markets for thermal insulation material.

The key players in this market are Saint Gobain SA
(France), Kingspan Group (Ireland), Rockwool International A/S (Denmark), Owens
Corning (US), Knauf Insulation (US), BASF SE (Germany), Asahi Kasei Corporation
(Japan), Recticel (Belgium), GAF Material Corporation (US), Evonik (Germany).
These companies are strong in their home regions and explore geographic
diversification alternatives to grow their businesses. They focus on increasing
their market shares through new product launches and other expansions.

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Saint-Gobain SA is a multinational corporation based in
France that specializes in the production, processing, and distribution of
materials and solutions for construction, transportation, infrastructure, and
industrial applications. The company is a leader in the production of glass,
high-performance materials, and building products.

Founded in 1665, the company operates through four
business segments namely renovation / infrastructure this segment includes the
production of high-performance materials such as ceramics, plastics, and
abrasives,  New residential construction
materials segment includes such as insulation, gypsum, and roofing
products,  New non-residential
construction materials segment includes the production of DIY stores glass
containers for food and beverage, cosmetics, and pharmaceuticals and Industry
segment comprise a number of different sectors (health, energy, metallurgy,
non-metal raw materials, mineral extraction, chemicals, petrochemicals and
semi-conductors) that find applications in security, industrial equipment and
household appliances. Saint-Gobain has a presence in over 70 countries, with
more than 170,000 employees worldwide.

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