The total market for thermal insulation
products in Europe stood at 259 million m3 in 2017, with growth forecast at a
CAGR of 2.5 % to 2021.
Western Europe accounted for 58 % of the
European thermal insulation consumption, and the market is forecast to show
modest growth at a CAGR of 2.0 % to 2021. Eastern Europe continues to drive
growth with a CAGR of 4.2 % forecast to 2021.
Although the construction industry has
remained relatively subdued since the financial crisis in 2008, concerns over
improved energy efficiency in buildings and rising energy prices have boosted
demand for thermal insulation materials.Regulatory authorities are highlighting the importance of minimizing
heat loss through the building envelope and are adopting legislation
encouraging zero energy buildings. Retrofit construction is now also regulated
and minimum energy performance standards have been set, which are a key driver
for thermal insulation materials. Commercial and domestic buildings continue to
represent the bulk of the demand at 86 % for thermal insulation materials in
Europe, with the overall use in industrial applications remaining considerably
smaller at 14 % of the market.