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US Thermal Insulation Trends and Forecast
The future of the US thermal insulation market looks promising with opportunities in the residential, non-residential, industrial and plant, marine, hydroponic, and transportation markets. The US thermal insulation market is expected to reach an estimated $14.4 billion by 2030 with a CAGR of 4.4% from 2024 to 2030. The major drivers for this market are increasing adoption of green building practices, rising consumer preference for roof and wall insulation, and growth In US building and construction industry.
• Lucintel forecasts that mineral wool will remain the larger segment over the forecast period.
• Within this market, residential will remain the largest segment.
In the US thermal insulation market, recent developments showcase a growing emphasis on energy efficiency and sustainability. Companies like Owens Corning and Johns Manville have announced initiatives to enhance their product offerings and reduce their environmental footprint. Owens Corning, for instance, unveiled plans to expand its manufacturing capabilities for insulation products, aiming to meet the rising demand for energy-efficient solutions in residential and commercial buildings.
Government targets further fuel this momentum. government climate agenda prioritizes building energy efficiency, aiming to upgrade 4 million buildings and weatherize 2 million homes over four years. This initiative aligns with companie's goals, such as Owens Corning's commitment to reducing greenhouse gas emissions intensity by 50% by 2030.
Overall, the US thermal insulation market is witnessing a convergence of corporate and governmental efforts towards sustainability and energy efficiency, driving innovation and growth in the sector."
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
US Thermal Insulation by Segment
The study includes a forecast for the US thermal insulation by material and end use industry.
US Thermal Insulation Market by Material [Shipment Analysis by Value from 2015 to 2030]:
• Mineral Wool
• Plastic Foam
• Others
US Thermal Insulation Market by End Use Industry [Shipment Analysis by Value from 2015 to 2030]:
• Residential
• Non-Residential
• Industrial and Plant
• Marines
• Hydroponics
• Transportation
• Others
List of US Thermal Insulation 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. With these strategies US thermal insulation companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the US thermal insulation companies profiled in this report include-
• Owens Corning
• Huntsman
• Dow Chemical
• Kingspan Group
• Saint-Gobain
• BASF
• Johns Manville
Recent Development in the US Thermal Insulation Market
"Owens Corning announced the expansion of its manufacturing facility in Joplin, Missouri, to meet the growing demand for insulation products in North America. The expansion is part of the company's strategy to enhance its production capabilities and supply chain efficiency.
Johns Manville introduced a new line of formaldehyde-free fiberglass insulation products, addressing concerns about indoor air quality and health. The company's initiative aligns with the growing demand for sustainable and environmentally friendly building materials.
Dow Chemical launched a new range of high-performance insulation materials designed to improve energy efficiency and reduce carbon emissions in buildings. The company's innovative solutions offer enhanced thermal performance while meeting sustainability goals."
Features of the US Thermal Insulation Market
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Market Size Estimates: Us thermal insulation market size estimation in terms of value ($B).
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Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments.
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Segmentation Analysis: Us thermal insulation market size by material and end use industry in terms of value ($B).
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Growth Opportunities: Analysis of growth opportunities in different material and end use industry for the US thermal insulation market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape of the US thermal insulation market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the US thermal insulation market size?
Answer: The US thermal insulation market is expected to reach an estimated $14.4 billion by 2030.
Q2. What is the growth forecast for US thermal insulation market?
Answer: The US thermal insulation market is expected to grow with a CAGR of 4.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the US thermal insulation market?
Answer: The major drivers for this market are increasing adoption of green building practices, rising consumer preference for roof and wall insulation and growth in us building and construction industry.
Q4. What are the major segments for US thermal insulation market?
Answer: The future of the US thermal insulation market looks promising with opportunities in the residential, non-residential, industrial and plant, marine, hydroponic, and transportation markets.
Q5. Who are the key US thermal insulation market companies?
Answer: Some of the key US thermal insulation companies are as follows:
• Owens Corning
• Huntsman
• Dow Chemical
• Kingspan Group
• Saint-Gobain
• BASF
• Johns Manville
Q6. Which US thermal insulation market segment will be the largest in future?
Answer: Lucintel forecasts that mineral wool will remain the larger segment over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 10 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the US thermal insulation market by material (mineral wool, plastic foam, and others) and end use industry (residential, non-residential, industrial and plant, marines, hydroponics, transportation, and others).
Q.2. Which segments will grow at a faster pace and why?
Q.3. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.4. What are the business risks and competitive threats in this market?
Q.5. What are the emerging trends in this market and the reasons behind them?
Q.6. What are some of the changing demands of customers in the market?
Q.7. What are the new developments in the market? Which companies are leading these developments?
Q.8. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.9. 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.10. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?