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Japan Building Thermal Insulation Material Market: Segmented: By Type(Expanded Polystyrene, Wool, Glass, Mineral Wool, and Extruded Polystyrene); By End-User (Residential Construction and Commercial Construction); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Japan Building Thermal Insulation Material Market to surpass USD 2.1 Billion by 2030, which is valued at 1.74 billion in 2019 at a compound annual growth rate of 1.80%
Thermal insulation materials are used to reduce heat energy flow from high to low temperatures. For most industries, the thermal insulation material is used to minimize energy consumption and to ensure that the necessary temperature is maintained within an environment where no additional cooling or heating devices are needed. Mainly in the construction industry, thermal insulating materials are used. Globally, the total energy consumed in buildings represents 33% of the total energy produced, of which almost half energy is used to maintain the temperature of the buildings. This material is primarily used to maintain ambient temperatures of 1°C to 100°C in the building industry. In construction, it greatly improves thermal comfort timeframe, especially during inter-season periods, without relying on electrical air-conditioning.
According to the report, the growing cost of energy and energy preservation awareness are the important factors that increase the size of the market. The global government is trying to introduce legislation and policies that will boost isolation demand in commercial buildings thus driving business growth. The company is effectively promoting the development of zero-energy buildings in most countries around the globe, which is expanding the demand for global thermal insulating materials.
Due to rapidly growing road construction activities across the country, the grade bitumen division held the largest market share of 2019. Japan Building Thermal Insulation Material Market is segmented by type into Expanded Polystyrene, Wool, Glass, Mineral Wool, and Extruded Polystyrene. Expanded Polystyrene is poised to grow at a significant CAGR due to its superior heat insulation and long service life. Furthermore, the popularity of the segment is expected to increase because of its non-toxic, rot-resistant, and recycling properties. The market share of mineral wool isolation in 2019 was XX% and, due to superior product features, including fire safety, effective heat barrier, ecological compatibility, and high mechanical strength, substantial growth is anticipated during the forecasted period. Moreover, the increased use of ore wool is expected to drive its growth in thermal insulation applications over the projected timeframe.
The residential segment is poised to grow at the highest CAGR. Japan Building Thermal Insulation Material market is segmented by end-user into residential construction and commercial construction. Due to the strong growth of single-unit housing and the renovation and re-insulation of old homes, residential construction is expected to be the highest CAGR during the forecast period. Therefore there is also expected growth in multi-family buildings to support the growth of the market. More than half of the overall revenue in 2019 came from the commercial building sector. The growth over the projected period is expected to be supported by improved significance to the energy efficiency of commercial and public buildings because of rising energy prices leading to higher maintenance costs.
Zero energy requirement
Many macro-economic drivers of the sector include construction, industrial production, manufacturing output, building industry expenditure, and urbanization patterns. Developed economies, that of Japan, have developed energy-efficient construction rules, and almost all new buildings constructed in the nation are expected to reach zero energy requirements in 2020.
Increased use in different applications
Increased use in industry for different applications, such as room insulation, laboratory insulation, pipeline protection, and other working and warehouse systems, is growing the market for thermal isolation materials. Increasing developments in energy-efficient principles in thermal insulation buildings have driven the market for insulation materials even further.
High capital cost
The demand for thermal isolation materials in housing developments will be hindered by high capital costs of insulation materials and this will hamper the development of the market in the projected period. For buildings, the use of heat insulation material saves a considerable amount of electrical energy. However, not every owner chooses thermal insulation material because of the high capital costs of these products, and this limits business growth.
Environmental regulation
The inefficient distribution channel network created challenges for manufacturers to meet the end-user hence hampering the growth of the thermal insulation material market. Therefore, the lack of understanding of the advantages of insulation materials is likely to restrict the demand for such materials.
Residential and commercial construction in Japan and the introduction of robust green building codes are expected to support the country's development to decrease energy consumption per structure. Moreover, favorable regulatory authorities are expected to encourage growth over the coming years for the adoption of the residential and commercial thermal insulation materials. The region segment can be further divided into four major types Eastern Japan, Northern Japan, Western Japan, and Southern Japan.
The focus of the markets is on growing their share using mergers and acquisitions. To broaden their product range by creating cost-effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity to meet the growing demand for goods. The market is mature and in the majority of the application sectors, it is experiencing slow but sustainable growth. Due to the high demand for insulation materials, the market is highly sensitive to prices. There will most certainly be substantial competition between new constructions and the introduction of energy efficiency codes.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, S/WOT Analysis
The Japan Building Thermal Insulation Material Market size was estimated at USD 1.74 billion in 2020 and is expected to reach USD 2.1 Billion by 2030
JPS Kaneka Corporation DOW KAKOH K.K Asahi Kasei Construction Materials Corp NICHIAS Corporation MAG-ISOVER K.K GAF Materials Corporation Fletcher Building Limited Other prominent players
The commercial construction segment is anticipated to hold the Japan Building Thermal Insulation Material Market
Drivers Zero energy requirement
Thermal insulation materials are used to reduce heat energy flow from high to low temperatures. For most industries, the thermal insulation material is used to minimize energy consumption and to ensure that the necessary temperature is maintained within an environment where no additional cooling or heating devices are needed.
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