Future Outlook of the Thermal Insulation Material Market: Growth Projections and Key Drivers
The thermal insulation material market is expected to reach US$ 70.74 billion by 2023 and grow at a 5.6% CAGR. The best way to reduce energy consumption is to insulate all partitions of a building effectively. Polyurethane foam, mineral wool, and polystyrene foam are the most common thermal insulation materials used in buildings, which provide both acoustic and thermal insulation.
The market offers other products with similar physical and chemical characteristics. This parameter indicates the thermal conductivity of a thermal insulation material (lambda). Coefficients of thermal conductivity indicate how well a material will perform as a thermal insulator, thus demonstrating its energy efficiency.
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