South Africa Building Thermal Insulation Market Size & Outlook
South Africa building thermal insulation market, 2018-2030 (US$M)
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South Africa building thermal insulation market highlights
- The South Africa building thermal insulation market generated a revenue of USD 40.8 million in 2022 and is expected to reach USD 68.5 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6.7% 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 40.8 million |
| Market revenue in 2030 | USD 68.5 million |
| Growth rate | 6.7% (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, South Africa accounted for 0.2% 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 Middle East & Africa, Saudi Arabia building thermal insulation market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 372.9 million by 2030.
Glass wool was the largest segment with a revenue share of 34.56% in 2022. Horizon Databook has segmented the South 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.
Although, the construction industry is South Africa experienced sluggish growth over the historic period, due to slow economic growth, policy uncertainty, and underperforming South African currency; the industry is expected to witness recovery owing to the increasing urbanization, government investment in affordable housing, renewable-energy projects, and transport and logistics infrastructure.
The growth in construction sector in South Africa is expected to have positive effect on demand for building thermal insulation over the forecast period. In February, 2018, Cyril Ramaphosa was appointed as the President of South Africa, after a disastrous tenture of previous president Jacob Zuma, in which he faced multiple corruption charges, the economy of the country suffered and inequality and employment soared.
Change in leadership in South Africa and the goodwill surrounding the current president is expected to boost the investor confidence, thereby driving the number of foreign investments in the country. Increasing investment rate is expected to stabilize the economy, which is anticipated to lead to modest recovery in construction sector in South Africa, thereby driving the demand for building thermal insulation 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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South Africa building thermal insulation market size, by product, 2018-2030 (US$M)
South Africa Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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