건축용 단열재 시장 보고서 : 동향, 예측 및 경쟁 분석(-2035년)

Building Thermal Insulation Market

The future of the global building thermal insulation market looks promising with opportunities in the residential and non-residential markets. The global building thermal insulation market is expected to reach an estimated $56.7 million by 2035 from $42.4 million in 2027 with a CAGR of 2.7% from 2027 to 2035. The major drivers for this market are the growing demand for reduced heating & cooling costs, the rising demand for renovation & retrofitting of old buildings, and the increasing demand for fire-resistant & safe insulation materials.

• Lucintel forecasts that, within the material category, fiberglass is expected to witness the highest growth over the forecast period due to the lightweight strength and cost effectiveness demand.
• Within the end use category, residential is expected to witness higher growth over the forecast period due to the rising housing construction and renovation demand.
• In terms of region, APAC will remain the largest region over the forecast period due to the rapid industrialization and infrastructure development growth.

Emerging Trends in Building Thermal Insulation Market

It is anticipated that the years 2025 to 2027 will see the building thermal insulation market focus on measured energy performance, embodied carbon, and renovation. Lucintel has taken a leading position in the industry by incorporating these trends in their analysis. In addition, regulatory frameworks, variations in energy costs, and changes in the building materials industry create a changing environment for building insulation.

• Embodied Carbon Insulation: It is expected that as of May 2026 all EU member states will have adopted the latest version of the Energy Performance of Building Directive, and thus start implementing buildings with insulation systems that integrate embodied carbon assessments. As a result, the focus on the whole life carbon of building systems will increase.
• Renovation of Existing Buildings: The EU and the US have complementary goals of improving the energy performance of existing buildings. Through 2032, the US will have in place tax credits to encourage energy improvement of buildings. The difference will be in the types of building stocks improved. The EU will focus more on the residential building stock, and the US more on the commercial building stock.
• High Performance Building Envelopes: From 2025, building envelopes for residential buildings in the UK will require more energy performance. As a result, building products with lower U-values will be required, particularly for wall and roof insulation.
• Digitization and Automation: Insulation and other building products will be required to have lower thickness to achieve desired U-values. The digitization of building product and construction industry processes will help meet building energy performance goals.
• Regional Supply Diversification: Disruptions in geopolitics and freight result in on-shore supply and the localized production of minerals, polymers and recycled feedstocks. Manufacturers add local facilities and dual sourcing to supplies. Investments in local plant facilities in United States and Europe are expected to continue during the period 2025 to 2027. Bulky and large dimensions of insulation makes it difficult to transport over long distances. Insulation is usually manufactured to order and delivered to the project site to meet construction schedules.

From 2025 to 2027, Manufacturers should ensure that the raw materials and the insulation product are supplied by manufacturers located in the region where the construction is to take place. It is expected that the construction industry will continue to decline during the period 2025 to 2027. New construction and renovation of public buildings are expected to offer steady opportunities in the construction industry. Long term cost consideration will influence product purchase. Suppliers of insulation systems that provide verification of the systems and adapt products in accordance with construction industry codes and standards will be preferred by customers.

Recent Developments in the Building Thermal Insulation Market

Building thermal insulation markets are expected to expand through 2025-2027 as building energy efficiency codes and standards become more stringent, programs to assist building energy retrofits become more prevalent and building material manufacturers' capacity to produce lower carbon materials becomes larger. Lucintel expects that the most significant market potential for thermal insulation products will be in Europe and North America during the forecast period. Markets in developing countries in Asia are also expected to offer substantial market potential.

• Capacity Expansion: In May 2025, ROCKWOOL announced the construction of a new facility in the U.S. to produce stone wool insulation. The new facility should be operated in time to take advantage of the expected growth in the construction market in the U.S. over the next several years.
• Strategic Partnership: In March 2025, Saint-Gobain and Hempel announced an agreement to further develop insulated building systems to be marketed in Europe.
• Product Innovation: In January 2025, BASF announced the commercial availability of a new low-carbon formulation of Neopor.
• Legislation: In 2025, the EU member states started to implement the revised Energy Performance of Buildings Directive. One of the goals of the Directive is to reduce the average primary energy consumption of residential buildings by 16% by 2030. This is expected to increase the demand for building energy retrofits.
• Production Investment: $125 million will be spent by Owens Corning to increase their mineral wool production in North America (February 2025). Increased mineral wool production addresses insufficient supply. Additionally, this production increase helps Owens Corning target data centers and other facilities that require fire resistant building elements.

In the building insulation market, more and more housing will not solely dictate the market. Renovation of buildings for improved fire and energy performance is expected to drive the market as well as other policies that promote the reduction of CO2 emissions. Both manufacturing companies and construction contractors will benefit from the improvement and expansion of building renovation policies and related building codes if they invest in local production, establish local networks for building insulation and energy improvement, and provide transparent data on the environmental impact of their buildings. Projects to improve the energy performance of buildings are economically favorable due to a combination of energy savings and improvement policies; however, small to medium building contractors often lack the financing to benefit from these improvements.

Strategic Growth Opportunities in the Building Thermal Insulation Market

Increasing energy costs and strict building code requirements are creating opportunities for thermal insulation in the building industry. 2024-2026 will see a spike in the insulation market, especially with the ongoing housing renovation programs and data center construction. Traditionally, insulation manufactures focus on the volume of insulation sold. Lucintel predicts the insulation market will be more profitable focusing on specifying sales.

• Deep Retrofits: Increasing energy codes and requirements for building owners to disclose energy use will drive the demand for building retrofits. The worst performing buildings in Europe will be required to undergo renovations to meet building energy codes. Insulation, when used in conjunction with other building envelope upgrades, can provide energy cost savings which further justifies the building upgrades.
• Data Center Construction: Thermal and environmental insulation will be needed to manage the heat loads generated by the data centers as well as provide a barrier against outdoor noise. The data center industry will further drive the need for thermal management insulation with the adoption of Artificial Intelligence.
• Low Carbon Insulation: The construction industry will need to use low carbon and renewable insulation to reduce the embodied carbon of new buildings. The 2024 adoption of the revised EU Construction Products Regulation supports the use of more sustainable insulation. During this transition, suppliers can charge a premium for their insulation products.
• Emerging Markets: Strong growth potential exists in countries such as those in Southeast Asia, India, and the Middle East. These areas are home to some of the world's largest and fastest urbanizing populations. In addition, many of these countries have recently enacted building performance codes, and the demand for energy (and the resulting need for mechanical cooling) is growing. India is expected to more than quadruple its mechanical cooling demand by 2037. As the cost of manufacturing and distributing insulation systems in these countries continues to decline, we would expect insulation systems demand to grow in these markets.
• Aftermarket Services: The sale of our insulation systems creates aftermarket service opportunities. After product sales, we can generate additional service revenue through maintenance, installation and product support, and other value-added services. In 2025, the U.S. Department of Energy announced $71 million to assist State and Local Governments in meeting the Energy Codes. Service offerings can assist contractors to achieve energy savings and reduce risks associated with installation failures.

It is expected that by 2030, there will be significant changes in building energy codes, the availability of low-cost capital, and fossil fuel prices. To successfully provide building insulation systems during this period, a supplier must have local manufacturing and/or logistical capabilities. From a service perspective, the ability to perform retrofit insulation systems and design services to support the generation of building system energy modeling will be essential.

Building Thermal Insulation Market Drivers and Challenges

The factors that impact the building thermal insulation market include product innovations, world economies, ecological targets and restrictions. There is increasing demand for thermal insulation materials with better product attributes (i.e. thermal performance, Fire resistance, installation time). Suppliers and end users are concerned with volatility in raw material supplies and availability of skilled labor. Long-term trends in the building insulation market, according to Lucintel, include reduction in energy use and carbon emission from buildings.

The factors responsible for driving this market include:

• Higher Energy Costs: Rising costs for energy used for space heating and cooling, as well as water heating, motivate building owners to improve the building envelope. In dozens of the world's largest and most developed countries, government and utility-sponsored programs aim to lower energy use in buildings by 20 percent or more by 2025. Improving building envelope insulation reduces the energy use and costs for space conditioning, as well as water heating. Insulation is a capital expense with a positive and relatively quick cash-flow payback. It is particularly cost-effective to insulate building envelopes in energy-poor, older buildings. Demand for insulation of building envelope components with long service-life and energy-saving benefits (i.e. wall, roof and floor insulation) will increase.
• More Stringent Energy Standards: Beginning in 2025, numerous countries accelerated their plans for meeting greenhouse gas reduction targets by adopting rigorous new building codes and standards, and energy performance codes. European building codes, for example, mandated that starting in 2025, all new buildings and major renovations be designed to achieve "nearly zero emissions" to satisfy carbon reduction goals. Similar requirements to reduce emissions from the building sector, especially in the construction industry, are anticipated in many countries. The building codes that took effect in Europe in 2025 created demand for building materials with improved thermal and fire protection and durability. Furthermore, regulation of the building industry increased the demand for insulating materials with higher performance and energy conservation in the building envelope.
• Increased Interest in Sustainability: Sustainability continued to drive the construction industry in 2025. Design, engineering, and construction professionals preferred building materials with a reduced carbon footprint, and building materials with recycled content. Wood and other natural fibers, as well as bio-based and other renewable materials, are replacing traditional insulating materials. Combining different raw materials, including more sustainable binders, is being pursued by insulation material manufacturers. Starting in 2025, restrictions on the use of insulation materials with a higher environmental impact, such as reduced moisture and fire protection, will create challenges for the construction industry.
• Building Renovation and Urbanization: The renovation of both residential and commercial buildings to improve energy efficiency will increase in response to the demand created by larger and growing populations. The need will also be created by the renovation of older buildings. In 2025, several renovation programs funded multiple improvements, including the addition of insulation. Insulation manufacturers will benefit from the improving building efficiency programs. Energy efficiency programs, urban redevelopment, and the provision of affordable housing will fuel the renovation of existing buildings in both developed and developing nations.
• Product and Manufacturing Innovation: Continuous innovation in the manufacture of building insulation materials will further improve the performance of building insulation materials. Trends will also reduce the thickness of building insulation materials and improve fire resistance and other building code compliance. The use of advanced materials and automated processes will improve the installation of building insulation materials and reduce the size of building elements. In the next five years, further improvements in building insulation materials will create opportunities for the use of building insulation materials in applications where code and/or space constraints limit the use of building insulation materials.

The challenges facing this market include:

• Expenses Associated with Initial Installation: Premium insulation systems, skilled labor, and building upgrades increase the cost of the project. Delays in the construction industry due to the pandemic created an increase in construction costs. Long term, insulation systems lower the cost of building operation and ownership, however, the upfront cost combined with the uncertainty of payback period deters the customer from undertaking the project. Low and moderate income households and small businesses are particularly impacted by this. Affordability constraints will continue to impact the market in the next three to five years, especially if the government does not increase financial assistance, and energy savings are not considered during project underwriting by lending institutions.
• Volatility in Raw Materials and Supply Chain: The supply of insulation is dependent on several materials and energy. In 2025, raw materials and energy continued to be a challenge for insulation manufacturers. Insulation projects take a significant amount of time to implement, geopolitical changes and supply disruptions can lead to increases in insulation costs and affect the confidence of the construction industry to undertake large insulation projects. In the next three to five years, manufacturers will have to strategically locate their insulation production to ensure availability to their customers.
• Lack of Skilled Workers and Quality of Work: Installing insulation in an appropriate, continuous, and properly sealed and spaced manner is essential for achieving the benefits of insulation. In 2025, employers in the construction industry reported difficulty in finding qualified personnel, including for projects aimed at improving the energy efficiency of buildings. Poor workmanship in installing insulation can result in numerous adverse conditions including condensation, mold, and lack of the expected energy cost savings. Older buildings, including due to their construction and greater complexity, can make some conditions worse. The next several years will see increasing reliance on trained and certified personnel, together with more innovative methods (e.g., more manufactured or Prefabricated Housing Systems and Virtual Inspections). The negative effects of limited and unskilled personnel are likely to constrain the construction industry and housing market.

Building thermal insulation is projected to continue gaining traction across the construction industry due to various factors such as energy efficiency and decarbonization. Additionally, other construction trends like renovation and urbanization will create opportunities for this market. Advances in construction technology will further accelerate these trends. The materials and equipment used in construction are becoming more sophisticated. New building construction codes and codes for the energy performance of buildings have created an opportunity for the use of advanced construction materials. However, high costs, variable input costs, supply shortages, and other problems may hamper the use of more sophisticated construction materials, especially in economically developing countries. Price-sensitive markets will most likely be influenced by the availability of raw materials and construction equipment. The highest and most rapid market growth will likely be in those regions with a combination of binding building codes, public financial incentives, and skilled construction workers. Public incentives will probably decrease as the construction industry adapts to more stringent codes. Improve the readability of the following AI-generated content. Do not go beyond the provided limits. Make grammar and spell check corrections only. Do not parse or change the meaning of the sentences. Keep all numerical values and other technical details as provided.

List of Building Thermal Insulation Market Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies building thermal insulation market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the building thermal insulation market companies profiled in this report include-

• Owens Corning
• Kingspan Group
• Saint-Gobain
• Rockwool
• BASF
• Huntsman
• DOW

Building Thermal Insulation Market by Segment

The study includes a forecast for the global building thermal insulation market by material, application, end use, and region.

Building Thermal Insulation Market by Material [Value ($M) from 2019 to 2035]:

• Stone Wool
• Fiberglass
• Plastics Foam
• Others

Building Thermal Insulation Market by Application [Value ($M) from 2019 to 2035]:

• Walls
• Roof
• Floors

Building Thermal Insulation Market by End Use [Value ($M) from 2019 to 2035]:

• Residential
• Non-Residential

Building Thermal Insulation Market by Region [Value ($M) from 2019 to 2035]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Building Thermal Insulation Market

Between 2025 and 2027, the market for building thermal insulation is anticipated to experience significant changes as a result of policies concerning building construction and performance, industry decarbonization, and publicly funded retrofit programs. Led by the United States, China, Germany, India and Japan are enacting policies to promote onshore production and use of decarbonized materials. These policies are expected to impact the market in the medium term.

• United States: The Inflation Reduction Act, the remaining element of President Biden's Clean Energy Plan, provides for a 15% residential tax credit, capped at $1,200, per year, for the next ten years, for insulation and other energy improvement projects. From the $8.8 billion allocated for the Home Energy Rebate Program, approximately 40% of qualified homeowners can expect to receive up to $8,000 in rebates. These programs and related efforts to increase the energy efficiency of homes will continue to stimulate demand for energy improvement products and services.
• China: The 2025 State Council Work Program emphasizes the continued introduction of ultra-low energy building standards. The central government's 2025 budget (US$14.9 billion) is expected to support the 2025 work program. Decarbonization, renovation and production policies will stimulate the use of various thermal insulation materials.
• Germany: The revised 2020 Building Energy Act specifies that 175 billion Euros will be allocated for improving energy efficiency of residential and public buildings by 2025. The German budget for 2025 (US$142 billion) further supports energy improvement programs.
• India: Increased Demand for Insulation: The Production Linked Incentive scheme and other government initiatives have increased investments in manufacturing infrastructure. The 2025-26 Union Budget increased capital expenditure to ₹11.21 trillion. All of this should increase the demand for insulation systems as the construction of factories, warehouses, and other infrastructure projects gains momentum.
• Japan: Expanded Demand for Insulation: Mandatory building code revisions in Japan for 2025 will impose energy savings requirements for all new buildings, bringing an end to the code exemption for small and/or low energy consuming buildings (April 2025). The new code will increase the energy savings requirements and insulation levels for new buildings. With the implementation of the new building code, there will be increased focus on the use of higher performing building envelopes and insulation systems, leading to a builders' market by 2030.

Features of the Global Building Thermal Insulation Market

• Market Size Estimates: building thermal insulation market size estimation in terms of value ($M).
• Trend and Forecast Analysis: Market trends (2019 to 2026) and forecast (2027 to 2035) by various segments and regions.
• Segmentation Analysis: building thermal insulation market size by material, application, end use, and region in terms of value ($M).
• Regional Analysis: building thermal insulation market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different material, application, end use, and regions for the building thermal insulation market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the building thermal insulation market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the building thermal insulation market by material (stone wool, fiberglass, plastics foam, and others), application (walls, roof, and floors), end use (residential and non-residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 7 years and what has its impact been on the industry?

Table of Contents

1. Executive Summary

2. Market Overview

• 2.1 Background and Classifications
• 2.2 Supply Chain

3. Market Trends & Forecast Analysis

• 3.1 Macroeconomic Trends and Forecasts
• 3.2 Industry Drivers and Challenges
• 3.3 PESTLE Analysis
• 3.4 Patent Analysis
• 3.5 Regulatory Environment

4. Global Building Thermal Insulation Market by Material

• 4.1 Overview
• 4.2 Attractiveness Analysis by Material
• 4.3 Stone Wool : Trends and Forecast (2019 to 2035)
• 4.4 Fiberglass : Trends and Forecast (2019 to 2035)
• 4.5 Plastics Foam : Trends and Forecast (2019 to 2035)
• 4.6 Others : Trends and Forecast (2019 to 2035)

5. Global Building Thermal Insulation Market by Application

• 5.1 Overview
• 5.2 Attractiveness Analysis by Application
• 5.3 Walls : Trends and Forecast (2019 to 2035)
• 5.4 Roof : Trends and Forecast (2019 to 2035)
• 5.5 Floors : Trends and Forecast (2019 to 2035)

6. Global Building Thermal Insulation Market by End Use

• 6.1 Overview
• 6.2 Attractiveness Analysis by End Use
• 6.3 Residential : Trends and Forecast (2019 to 2035)
• 6.4 Non-Residential : Trends and Forecast (2019 to 2035)

7. Regional Analysis

• 7.1 Overview
• 7.2 Global Building Thermal Insulation Market by Region

8. North American Building Thermal Insulation Market

• 8.1 Overview
• 8.2 North American Building Thermal Insulation Market by Material
• 8.3 North American Building Thermal Insulation Market by Application
• 8.4 The United States Building Thermal Insulation Market
• 8.5 Canadian Building Thermal Insulation Market
• 8.6 Mexican Building Thermal Insulation Market

9. European Building Thermal Insulation Market

• 9.1 Overview
• 9.2 European Building Thermal Insulation Market by Material
• 9.3 European Building Thermal Insulation Market by Application
• 9.4 German Building Thermal Insulation Market
• 9.5 French Building Thermal Insulation Market
• 9.6 Italian Building Thermal Insulation Market
• 9.7 Spanish Building Thermal Insulation Market
• 9.8 The United Kingdom Building Thermal Insulation Market

10. APAC Building Thermal Insulation Market

• 10.1 Overview
• 10.2 APAC Building Thermal Insulation Market by Material
• 10.3 APAC Building Thermal Insulation Market by Application
• 10.4 Chinese Building Thermal Insulation Market
• 10.5 Indian Building Thermal Insulation Market
• 10.6 Japanese Building Thermal Insulation Market
• 10.7 South Korean Building Thermal Insulation Market
• 10.8 Indonesian Building Thermal Insulation Market

11. ROW Building Thermal Insulation Market

• 11.1 Overview
• 11.2 ROW Building Thermal Insulation Market by Material
• 11.3 ROW Building Thermal Insulation Market by Application
• 11.4 Middle Eastern Building Thermal Insulation Market
• 11.5 South American Building Thermal Insulation Market
• 11.6 African Building Thermal Insulation Market

12. Competitor Analysis

• 12.1 Product Portfolio Analysis
• 12.2 Operational Integration
• 12.3 Porter's Five Forces Analysis
  • Competitive Rivalry
  • Bargaining Power of Buyers
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Threat of New Entrants
• 12.4 Market Share Analysis

13. Opportunities & Strategic Analysis

• 13.1 Value Chain Analysis
• 13.2 Growth Opportunity Analysis
  • 13.2.1 Growth Opportunity by Material
  • 13.2.2 Growth Opportunity by Application
  • 13.2.3 Growth Opportunity by End Use
  • 13.2.4 Growth Opportunity by Region
• 13.3 Emerging Trends in the Global Building Thermal Insulation Market
• 13.4 Strategic Analysis
  • 13.4.1 New Product Development
  • 13.4.2 Certification and Licensing
  • 13.4.3 Mergers, Acquisitions, Agreements, Collaborations, and Joint Ventures

14. Company Profiles of the Leading Players Across the Value Chain

• 14.1 Competitive Analysis Overview
• 14.2 Owens Corning
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.3 Kingspan Group
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.4 Saint-Gobain
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.5 Rockwool
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.6 BASF
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.7 Huntsman
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 14.8 DOW
  • Company Overview
  • Building Thermal Insulation Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing

15. Appendix

• 15.1 List of Figures
• 15.2 List of Tables
• 15.3 Research Methodology
• 15.4 Disclaimer
• 15.5 Copyright
• 15.6 Abbreviations and Technical Units
• 15.7 About Us
• 15.8 Contact Us