Building Thermal Insulation Market Size

Building Thermal Insulation Market size was over USD 32.97 billion in 2023 and is poised to cross USD 59.16 billion by 2036, witnessing more than 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of building thermal insulation is evaluated at USD 34.18 billion. The growth of the market can be attributed to the growing application of building thermal insulators to obtain better heat/cold protection. They are being immensely used in places with extreme climatic conditions, for insulating buildings where cooling or heating systems are used, as this can save cost and energy. Thermal insulators trap the heat of the building inside, and save the energy spent on space heaters. Moreover, they can also prevent the extreme cold or extreme heat waves from entering the building. The growing adoption of heating or cooling systems in buildings is estimated to boost the market growth. Furthermore, the mounting awareness regarding energy conservation is estimated to boost the market growth. the global rise in temperature and climate change, caused by various human activities, are also estimated to boost the market growth. According to a report by NASA, the global temperature is currently increasing by 0.2 degrees Celsius per decade, causing extreme rise and fall of temperature.