Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Material Type (Plastic Foam, Stone Wool, Fiberglass, Others), By Temperature Range (?160?C to ?50?C, ? 49?C to 0?C, 1?C to 100?C, 1?C to 650?C) And Competitive Landscape
Product Code: ETC056679 | Publication Date: May 2021 | Updated Date: Dec 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Asia Pacific Thermal Insulation Material Market |
Forecast period | 2024-2030 |
CAGR | 8.2% |
Forecast Size | USD 14 Billion by 2030 |
Asia Pacific Thermal Insulation Material Market report thoroughly covers the market by material type, temperature range and countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific thermal insulation material market was valued at USD 5.5 billion in 2024, and it is anticipated to grow to USD 14 billion by 2030. The rising need for energy-efficient solutions across industries, combined with increased government initiatives for sustainable development, is expected to fuel consistent market expansion in the coming years.
The Asia Pacific thermal insulation material market is expected to grow significantly in the coming years. This expansion is being driven by rising demand for energy-efficient buildings and industries, as well as increased awareness of environmental sustainability. The push for sustainable construction techniques and energy-saving solutions is projected to accelerate market growth.
According to 6Wresearch, Asia Pacific Thermal Insulation Material Market size is expected to grow at a significant CAGR of 8.2% during 2024-2030. The Asia Pacific thermal insulation material market is driven by several factors that contribute to its growth. One of the key drivers is the increasing focus on energy efficiency and sustainability in various industries, including construction, automotive, and manufacturing. The demand for thermal insulation materials is rising as they help in reducing energy consumption, enhancing the overall efficiency of buildings and equipment, and minimizing carbon emissions. Additionally, stringent government regulations and building codes mandating the use of thermal insulation materials further bolster the Asia Pacific Thermal Insulation Material Market growth. These regulations aim to improve energy performance and reduce greenhouse gas emissions, driving the adoption of thermal insulation materials in the construction sector. However, the market also faces certain challenges. The high cost of thermal insulation materials, especially those with advanced properties, can pose a challenge for widespread adoption, particularly in price-sensitive markets. Moreover, the lack of awareness and knowledge about the benefits and types of thermal insulation materials among end-users can hinder market growth. It is crucial for manufacturers and industry players to educate consumers about the advantages of thermal insulation materials and dispel misconceptions to drive market penetration.
Green insulation materials are in greater demand as a result of the Asia Pacific thermal insulation material industry shift toward sustainable and eco-friendly building methods. The usage of materials like cellulose, sheep wool, and aerogel for thermal insulation is predicted to increase in the upcoming years, continuing this trend. This change is being driven by consumers' and companies' growing preference for eco-friendly options as well as increased knowledge of environmental sustainability and energy efficiency. The market for thermal insulation materials in Asia Pacific is expected to grow as long as the industrial and construction industries continue to place a high priority on sustainable practices.
The Asia-Pacific thermal insulation material market offers lucrative investment prospects, particularly in growing countries such as China and India. Energy-efficient building solutions are in high demand as a result of these countries' fast urbanization and sharp increase in construction activity. The use of thermal insulation materials will also be accelerated by the government's growing emphasis on sustainable development and the imposition of stronger construction norms and regulations. Investors hoping to profit from the region's rising demand for thermal insulation materials find these markets appealing due to the growing awareness of environmental sustainability and the drive for energy-efficient solutions in the industrial and construction sectors.
Johns Manville, Owens Corning, Kingspan Group, BASF SE, and Saint-Gobain are a few of the major companies in the Asia Pacific thermal insulation material industry. To increase their market presence, these companies are implementing a number of tactics, including developing strategic alliances, diversifying their product lines, and improving their manufacturing capacities. To meet the rising demand for sustainable building solutions, they are also concentrating on innovation and the creation of environmentally and energy-efficient insulation materials. They are gaining a competitive edge in the Asia Pacific thermal insulation material market thanks to their initiatives to enter emerging markets and their growing R&D expenditures.
The Asia Pacific region's governments are putting various policies and programs into place to encourage energy-efficient enterprises and buildings, which is fueling the market for thermal insulation materials. For example, China's Green construction Action Plan encourages the use of sustainable construction practices by setting a goal of 50% green coverage for new metropolitan buildings by 2020. In a similar vein, the Energy Conservation Building Code (ECBC) of India requires commercial buildings to utilize energy-efficient materials. For producers of thermal insulation materials, these activities are opening up a lot of options. Countries are also providing subsidies and incentives to encourage the use of environmentally friendly building materials, which is helping the industry expand.
The Asia Pacific thermal insulation materials market is anticipated to increase significantly over the next several years due to the growing need for energy-efficient products and government initiatives to promote sustainable development. It is also projected that the use of cutting-edge and environmentally friendly insulating materials, like cellulose, sheep wool, and aerogel, will accelerate, supporting market expansion. Furthermore, the region's growing industrialization and urbanization will open up more options for insulating solutions. All things considered, the market's future is bright, providing a wealth of chances for industry participants to increase their footprint in this quickly growing and ecologically sensitive area.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
According to Ravi Bhandari, Research Head, 6Wresearch, the plastic foam industry is likely to lead the Asia Pacific thermal insulation material market due to its adaptability and broad variety of applications in industries such as construction, automotive, and electronics. Its rising demand is a result of its affordability and superior insulating qualities.
China is currently leading the Asia Pacific thermal insulation material market. This is explained by the nation's fast expanding construction sector, growing energy conservation efforts by the government, and growing environmental sustainability consciousness.
The Asia Pacific Thermal Insulation Material market report provides a detailed analysis of the following market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Thermal Insulation Material Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Thermal Insulation Material Market Revenues & Volume, 2020 & 2030F |
3.3 Asia Pacific Thermal Insulation Material Market - Industry Life Cycle |
3.4 Asia Pacific Thermal Insulation Material Market - Porter's Five Forces |
3.5 Asia Pacific Thermal Insulation Material Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Asia Pacific Thermal Insulation Material Market Revenues & Volume Share, By Material Type, 2020 & 2030F |
3.7 Asia Pacific Thermal Insulation Material Market Revenues & Volume Share, By Temperature Range, 2020 & 2030F |
4 Asia Pacific Thermal Insulation Material Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Thermal Insulation Material Market Trends |
6 Asia Pacific Thermal Insulation Material Market, 2020 - 2030 |
6.1 Asia Pacific Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
6.2 Asia Pacific Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
7 China Thermal Insulation Material Market, 2020 - 2030 |
7.1 China Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
7.2 China Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
8 India Thermal Insulation Material Market, 2020 - 2030 |
8.1 India Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
8.2 India Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
9 Japan Thermal Insulation Material Market, 2020 - 2030 |
9.1 Japan Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
9.2 Japan Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
10 Australia Thermal Insulation Material Market, 2020 - 2030 |
10.1 Australia Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
10.2 Australia Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
11 Indonesia Thermal Insulation Material Market, 2020 - 2030 |
11.1 Indonesia Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
11.2 Indonesia Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
12 Philippines Thermal Insulation Material Market, 2020 - 2030 |
12.1 Philippines Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
12.2 Philippines Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
13 Thailand Thermal Insulation Material Market, 2020 - 2030 |
13.1 Thailand Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
13.2 Thailand Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
14 Malaysia Thermal Insulation Material Market, 2020 - 2030 |
14.1 Malaysia Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
14.2 Malaysia Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
15 Singapore Thermal Insulation Material Market, 2020 - 2030 |
16 Rest of Asia Thermal Insulation Material Market, 2020 - 2030 |
16.1 Rest of Asia Thermal Insulation Material Market, Revenues & Volume, By Material Type, 2020 - 2030 |
16.2 Rest of Asia Thermal Insulation Material Market, Revenues & Volume, By Temperature Range, 2020 - 2030 |
17 Asia Pacific Thermal Insulation Material Market Key Performance Indicators |
18 Asia Pacific Thermal Insulation Material Market - Opportunity Assessment |
18.1 Asia Pacific Thermal Insulation Material Market Opportunity Assessment, By Countries, 2020 & 2030F |
18.2 Asia Pacific Thermal Insulation Material Market Opportunity Assessment, By Material Type, 2020 & 2030F |
18.3 Asia Pacific Thermal Insulation Material Market Opportunity Assessment, By Temperature Range, 2020 & 2030F |
19 Asia Pacific Thermal Insulation Material Market - Competitive Landscape |
19.1 Asia Pacific Thermal Insulation Material Market Revenue Share, By Companies, 2023 |
19.2 Asia Pacific Thermal Insulation Material Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |