External Wall Insulation Board Market to Hit $14.9 Million, by 2030 at 8.3% CAGR

Coherent Market Insights - Seite 2

Historical Data

2018–2021

Forecast Period

2023–2030

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Material Type, By End-Use Sector, By Application, By Position

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Growth Drivers

• Government regulations for energy efficiency

• Rising energy costs 

• Growth in construction sector

• Lower environment impact

Restraints & Challenges

• High product and installation costs

• Low  consumer awareness

• Shortage of skilled labor

• Low penetration in developing market

As per the market segmentation, the mineral wool segment is dominating the market by material type, with its excellent thermal insulation properties and fire resistance. In the residential sector, external wall insulation boards are extensively used, making it the dominating end-use sector. Moreover, in new construction applications, these boards are increasingly being incorporated, driving growth in this segment.

Another market opportunity in the External Wall Insulation Board market is the growing trend of renovation and retrofitting projects, driving the demand for these insulation solutions. With aging buildings in need of energy efficiency upgrades and increased awareness about the benefits of external wall insulation, the market for insulation boards is witnessing significant growth. Retrofitting projects involve adding external wall insulation boards to existing structures, enhancing their thermal performance and energy efficiency.