Middle East & Africa Building Thermal Insulation Market Size & Outlook
Middle East & Africa building thermal insulation market, 2018-2030 (US$M)
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MEA building thermal insulation market highlights
- The MEA building thermal insulation market generated a revenue of USD 817.7 million in 2022.
- The market is expected to grow at a CAGR of 6.3% 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 817.7 million |
| Market revenue in 2030 | USD 1,336.1 million |
| Growth rate | 6.3% (CAGR from 2022 to 2030) |
| Largest segment | Glass wool |
| Fastest growing segment | EPS |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, MEA region accounted for 3.3% of the global building thermal insulation market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,787.9 million by 2030.
Glass wool was the largest segment with a revenue share of 32.92% in 2022. Horizon Databook has segmented the Middle East & Africa 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.
The construction industry in Middle East & Africa is expected to face few challenges due to uncertainty regarding government spending on infrastructure projects. The building thermal insulation market is expected to register moderate growth in line with the growth of the building & construction industry in the region.
The recovery of oil prices is lessening the burden on government finances, which in turn is expected to give rise to new models of development such as public-private partnership for infrastructure development. In addition, the presence of a significant consumer base in the economy is expected benefit market in terms of growth over the forecast period.
Construction sector in Middle East & Africa is expected to observe a rebound growth in forecast period owing to factors such as increase in investments, expansion of oil production, and improved weather conditions.
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Building Thermal Insulation Market Scope
Building Thermal Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA building thermal insulation market size, by country, 2018-2030 (US$M)
Middle East & Africa Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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