Thermal Insulation Materials Market is estimated to be valued at USD 72.77 Bn in 2025 and is expected to reach USD 112.34 Bn by 2032, growing at a compound annual growth rate (CAGR) of 6.4% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 72.77 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
6.40%
2032 Value Projection:
USD 112.34 Bn
Thermal insulation materials are the type of materials, which are used for restricting the flow of heat energy between high temperature region and low temperature region. Thermal insulation materials are widely used across various end-user industries in order to decrease the energy consumption of the buildings and to maintain a desired temperature in an area without the need for further usage of cooling and heating equipment.
Market Dynamics
Driver
The global thermal insulation materials market has witness a surge in market growth in terms of revenue in recent past years, owing to the surge in demand for thermal insulation materials in the construction industry. Governments across the world are investing on sustainable development in cities and encouraging the construction of green buildings to reduce the carbon footprint and energy consumptions. For instance, in March 2022, the portfolio of BASF's graphitic expandable polystyrene (EPS) granulate was expanded. Neopor F 5 McycledTM, which was introduced by BASF and contains 10% recycled material, is appropriate for many building applications, particularly facade insulation. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas.
Increasing government initiatives for promoting the construction of the green building is expected to accelerate the market growth of thermal insulation materials. According to the Concerted Action for the Energy Performance of Buildings Directive (a joint initiative of member states of the European Union and the European Commission), all buildings constructed in member states should comply with zero-energy standards by 2020.
On the basis of material type, the global thermal insulation materials market is bifurcated in to plastic foam, stone wool, fiber glass and others. Fiber glass is expected to grow substantially during the forecasted period, owing to its rising demand in different end-user industries. Manufacturers are focusing on development of thermal insulation materials which are lighter in weight in order to increase their efficiency and convenience. This scenario is projected to fuel the market growth in forthcoming years.
Restraint
The use of some insulation materials raises health issues, which is a significant barrier to the market's growth. When used during the laying process, glass wool, for instance, can irritate the eyes and respiratory system. Expanded and extruded polystyrene, a carcinogen, has been prohibited during production due to styrene emission. The health risks associated with these insulation products and the strict laws governing their use may limit their acceptance, making it difficult to expand the market.
Key features of the study
This report provides in-depth analysis of global thermal insulation materials market size (USD Bn), and Compound Annual Growth Rate (CAGR %) for the forecast period 2025-2032, considering 2024 as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players.
It profiles leading players in the global thermal insulation materials market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
Key companies covered as a part of this study includes Saint-Gobain S.A., Kingspan Group, Dow Chemicals Company, Asahi Kasei Corporation, BASF SE, Owens Corning, Bayer AG Rockwool International, E. I. du Pont de Nemours and Company, and Berkshire Hathaway.
Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics.
The global thermal insulation materials market report caters to various stakeholders in this industry including investors, suppliers, global thermal insulation manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global thermal insulation materials market.
Market Segmentation
Global Thermal Insulation Materials Market, By Material Type
Plastic Foam
Stone Wool
Fiberglass
Others
Global Thermal Insulation Materials Market, By Temperature Range
(-160°C to -50°C)
(- 49°C to 0°C)
(1°C to 100°C)
(1°C to 650°C)
Global Thermal Insulation Materials Market, By Region
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa
GCC Countries
Israel
Rest of Middle East & Africa
Key Companies
Saint-Gobain S.A.
Kingspan Group
Dow Chemicals Company
Asahi Kasei Corporation
BASF SE
Owens Corning
Bayer AG Rockwool International
I. du Pont de Nemours and Company
Berkshire Hathaway
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Material Type
Market Snippet, By Temperature Range
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Supply Side Drivers
Demand Side Drivers
Economic Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
PEST Analysis
PORTER's Analysis
New Product Approvals/Launch
Promotion and Marketing Initiatives
4. Global Thermal Insulation Materials Market, By Material Type, 2020 - 2032 (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Plastic Foam
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
Stone Wool
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
Fiberglass
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
5. Global Thermal Insulation Materials Market, By Temperature Range, 2020 - 2032 (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
(-160°C to -50°C)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
(- 49°C to 0°C)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
(1°C to 100°C)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
(1°C to 650°C)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020 - 2032, (USD Bn)
6. Global Thermal Insulation Materials Market, By Region, 2020- 2032 (USD Bn)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Region, 2021 - 2032
North America
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Country, 2020 - 2032
U.S.
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Canada
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Latin America
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Country, 2020 - 2032
Brazil
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Argentina
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Mexico
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Rest of Latin America
Sub-region/Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Europe
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Country, 2020 - 2032
France
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Germany
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Italy
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Spain
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
U.K.
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Nordic
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Benelux
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Russia
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Poland
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Rest of Europe
Sub-region/Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Asia Pacific
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Country, 2020 - 2032
China
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
India
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Japan
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Oceania
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
ASEAN
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Rest of Asia Pacific
Sub-region/Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Middle East & Africa
Market Share Analysis, By Country/ Sub-region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, By Country/ Sub-region, 2020 - 2032
GCC
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
South Africa
Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)
Rest of Middle East & Africa
Sub-region/Country Trends
Market Size and Forecast, By Material Type, 2020- 2032 (USD Bn)
Market Size and Forecast, By Temperature Range, 2020- 2032 (USD Bn)