South Korea Building Thermal Insulation Market Size & Outlook
South Korea building thermal insulation market, 2018-2030 (US$M)
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South Korea building thermal insulation market highlights
- The South Korea building thermal insulation market generated a revenue of USD 231.2 million in 2022 and is expected to reach USD 370.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.1% from 2023 to 2030.
- In terms of segment, eps 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 231.2 million |
| Market revenue in 2030 | USD 370.1 million |
| Growth rate | 6.1% (CAGR from 2022 to 2030) |
| Largest segment | Eps |
| 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 Korea accounted for 0.9% 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 Asia Pacific, China building thermal insulation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,319.4 million by 2030.
Eps was the largest segment with a revenue share of 32.4% in 2022. Horizon Databook has segmented the South Korea 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.
Construction industry in South Korea is expected to witness growth in line with the economic growth of the country. Even though the country experienced a temporary setback in the economy in 2017, due to the impeachment of the former President Park Geun-hye, it made a quick recovery and is expected to witness robust growth over the forecast period.
Construction industry in South Korea is witnessing a significant growth owing to increasing investments in residential construction. Furthermore, the country’s rising focus on infrastructural development is likely to boost the growth of construction industry, thereby positively impacting the demand for building thermal insulation over the forecast period.
Building & construction industry in South Korea is dominated by residential and dwelling construction. The industry witnessed a major surge, especially in infrastructure development, owing to the Winter Olympics held in 2018.
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Building Thermal Insulation Market Scope
Building Thermal Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea building thermal insulation market size, by product, 2018-2030 (US$M)
South Korea Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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