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Future Growth Potential will be Enhanced by Opportunities in the Development of Energy-efficient Buildings
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This Frost & Sullivan study analyzes the building insulation materials market in the Americas and identifies market growth opportunities and challenges. Energy efficiency is a critical factor across both new building construction and renovation projects in the region. Sustainability trends are driving the need for materials that offer excellent performance in terms of thermal resistance, moisture protection, recyclability, and fire protection. The growing focus on green and energy-efficient buildings for both new construction and renovation activities is driving greater adoption of insulation materials in the building and construction industry.Insulation materials play a crucial role in maintaining the internal environment of buildings and also in increasing the energy efficiency of the insulated building envelope. The United States and Canada adopt policies to promote the renovation activities of the building stock and prevent heat gain/loss through proper insulation. These measures will boost the building insulation materials market in the Americas during the forecast period.Insulation material prices are affected by raw material prices, the chemistry used in the formulation, and the volume consumption of insulation materials for different applications. For instance, large construction projects may be able to acquire certain products in bulk at low costs. Due to their low prices, fiberglass materials are likely to witness high demand for cost-effective insulation of new and renovated residential building construction. Plastic foam insulation materials are preferred for their enhanced fire resistance and moisture protection in residential and non-residential buildings. Other products, including aerogel, perlite, and wood fiber, are costly and are adopted for advanced building techniques that require superior insulation and fire protection.The residential sector accounted for the highest consumption of insulation materials in the region in 2020, and this trend is likely to continue during the forecast period. Residential construction is driven by the growing number of DIY applications in remodeling and renovation activities. As a result, lightweight insulation materials such as glass wool and spray-based foams, including PU and EPS, are expected to see higher demand from residential end users due to ease of application for DIY homeowners.The non-residential insulation market will be driven by the growth of offsite construction and the US Government's funding program for infrastructure-based construction. Concerns around fire safety in public and commercial buildings have led to greater usage of fire-rated insulation products, including stone wool, VIPs, and aerogels.
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