Canada Building Thermal Insulation Market Size & Outlook
Canada building thermal insulation market, 2018-2030 (US$M)
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Canada building thermal insulation market highlights
- The Canada building thermal insulation market generated a revenue of USD 1,275.7 million in 2022 and is expected to reach USD 1,864.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.9% from 2023 to 2030.
- In terms of segment, glass wool was the largest revenue generating product in 2022.
- EPS is the most lucrative product segment registering the fastest growth during the forecast period.
Building thermal insulation market data book summary
| Market revenue in 2022 | USD 1,275.7 million |
| Market revenue in 2030 | USD 1,864.5 million |
| Growth rate | 4.9% (CAGR from 2022 to 2030) |
| Largest segment | Glass wool |
| Fastest growing segment | EPS |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Glass Wool, Mineral Wool, EPS, XPS, Cellulose, PIR, PUR |
| Key market players worldwide | Rockwool AS Class B, GAF, Guardian Capital Group Ltd, Huntsman Corp, Johns Manville, Atlas Roofing, CertainTeed Corporation, Dow Building Solutions, Owens-Corning Inc, Compagnie de Saint-Gobain SA, Kingspan Group PLC, Cellofoam, Rockwool, Byucksan, BASF |
Other key industry trends
- In terms of revenue, Canada accounted for 5.2% of the global building thermal insulation market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. building thermal insulation market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,864.5 million by 2030.
Glass wool was the largest segment with a revenue share of 51.02% in 2022. Horizon Databook has segmented the Canada building thermal insulation market based on glass wool, mineral wool, eps, xps, cellulose, pir, pur covering the revenue growth of each sub-segment from 2018 to 2030.
Canada building thermal insulation market is expected to witness substantial growth owing to the rising construction industry in the country, primarily due to increasing population, urbanization, and increase in rate of migration.
The growth in population in Canada is expected to significantly boost residential construction sector over the forecast period. Unlike the U.S., Canada is expected to witness strong growth in demand for multi-family housing as compared to single-family housing.
The government’s efforts and investments to provide affordable housing to the lower classes through Canada Mortgage and Housing Corporation (CMHC) and Affordable Housing Initiative (AHI) program are anticipated to further boost the residential construction in the country.
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Building Thermal Insulation Market Scope
Building Thermal Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada building thermal insulation market size, by product, 2018-2030 (US$M)
Canada Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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