Urbanization Causes Need For Thermal Insulation

Growth in green buildings and energy-efficient construction will increase the building thermal insulation market growth as they account for more than two-thirds of the total GHG emissions across the globe, says a report by Global Market Insights, Inc. Environmental impacts caused by urbanization and population growth have created the need to develop sustainable solutions. COVID-19 has negatively impacted the building insulation industry by causing a construction output decline since the pandemic started. In 2020, product demand was reduced by 20 per cent compared to 2019, which is mostly attributed to challenges created by the pandemic and the labour shortage and disruption in the supply chain it caused. However, the building thermal insulation market size is likely to reach $31 billion by 2026.