Energy Efficient Materials Market Size, Share, Growth, and Industry Analysis, By Type (Polyisocyanurate, Extruded Polystyrene, Expanded Polystyrene, Fiberglass, Cellulose & Mineral Wool), By Application (Residential & Commercial) and Regional Forecast to 2031

Updated On: 02 September 2024

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ENERGY EFFICIENT MATERIALS MARKET REPORT OVERVIEW

The global Energy Efficient Materials Market size was USD 1.013 Billion in 2023 and the market is projected to touch USD 1.789 Billion by 2032, exhibiting a CAGR of 5.85% during the forecast period.

Energy conservation materials, as the name suggests, are developed to save energy in the construction and manufacturing industries. Such materials include improved insulation, reflective roofs, low-emissivity windows, and green building materials that help minimise energy use and enhance thermal efficiency. Through reducing heat transfer, promoting light reflection, and controlling the internal climate, the application of energy-saving materials greatly decreases the need for heating, cooling, and lighting, so the costs and emissions are both greatly reduced.

COVID-19 Impact: Market Growth Accelerated due to Increased Focus on the Sustainability and Resilience of Construction

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

It can also be observed that the COVID-19 pandemic has a prospective effect on products and services related to energy-efficient materials due to the increased focus on the sustainability and resilience of construction. When organisations encouraged telecommuting and shutdowns, homeowners as well as business people aimed to improve energy performance so that they could save on utility bills and improve the comfort of their homes. The pandemic also prized healthy indoor spaces, and so there is increased demand for materials that improve air quality and temperature control.

LATEST TRENDS

"Advanced Application of SMART Technologies to Propel the Market Growth"

The main recent trends in the market for energy-saving materials include the advanced application of SMART technologies and the IoT in energy-saving systems, the introduction of new types of insulation materials, the use of aerogel and phase-change materials, and the increased interest in the usage of bamboo and recycled products as energy-saving and natural types of materials. There is also another notable transition from passive architectural windows to interactive windows, smart windows, dynamic glazing, and other advanced energy-conserving glazing systems. 

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ENERGY EFFICIENT MATERIALS MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Polyisocyanurate, Extruded Polystyrene, Expanded Polystyrene, Fiberglass, Cellulose & Mineral Wool

• Polyisocyanurate (PIR):Highly thermally efficient and rigid polyurethane foam. Applied to roofs and walls. 
• Extruded Polystyrene (XPS):Foam insulation with a low permeance helps to seal the building from moisture. Retain a high R-value and are useful for insulating the base or below-grade construction. 
• Expanded Polystyrene (EPS):Fire-resistant, lightweight foam insulation with good thermal features. Most widely applied in the protection of foodstuffs and in the manufacturing of insulated panels. 
• Fibreglass:It contains fine glass fibres with good qualities of heat and sound insulation. Commonly practiced in homes and other constructed structures. 
• Cellulose:They are made from recycled papers, giving them good thermal properties that enhance their environmental conservation. The main fork is in the wall and attic insulation systems. 
• Mineral Wool: Made of either natural rock or slag, good fire protection and sound absorption capabilities are characteristic of this kind of pavement. Useful where high-temperature characteristics of insulation are needed. 

By Application

Based on application the market can be categorized into Residential & Commercial

• Residential: Most walls, attics, and basements are insulated with fibreglass, cellulose, spray foam, and the like to help keep heating and cooling expenses at an acceptable level. Low-emissivity (Low-E) glass and framing insulations aid in thermal management and energy loss. To lower the indoor heat gain, thereby decreasing reliance on air conditioning, building materials that reflect light and have poor heat absorption should be used. 
• Commercial: The commercial buildings involve polyisocyanurate, extruded polystyrene, and mineral wool because of the best thermal resistance and fire problems. Use of products meeting LEED, BREEAM, and other green building standards for certification with the efficiency of sustainability of buildings. Automation of various sectors, incorporating IoT capability for effective energy management to enhance the operational performances of organisations, and introducing innovative materials for the utilisation of energy resources.

DRIVING FACTORS

"Growing Environmental Concerns and Regulations to Expand the Market"

One of the key driving factors of Energy Efficient Materials Market growth is Growing Environmental Concerns and Regulations. Evolving consciousness of the effects of climate change and a drive for environmentally friendly products on the market are factors influencing the price of energy-efficient materials. New laws are being passed that are tightened in terms of energy conservation, a factor that demands the use of efficient materials in construction, thus strengthening the growth of this sector.

"Rising Energy Costs and Demand for Cost Savings to Advance the Market"

As energy costs increase over time, both house and commercial building occupants are in search of ways to slash their energy bills. Relating to energy efficiency, the latter helps in reducing tariffs for current consumption, while investing in efficient materials is a profitable investment, therefore forcing the focus on new and primarily existing construction projects. 

RESTRAINING FACTOR

"High Initial Cost to Pose Potential Impediments on the Market"

An important control factor affecting the energy-efficient materials market is the high initial cost. Most of the energy-efficient products for construction, for instance, insulation and windows, have a higher initial cost compared to standard materials. This can discourage homeowners and businesses, especially if they are operating on a tight budget, from subscribing to such solutions, even though the long-term expenses and negative environmental impacts of their implementation may well outweigh the immediate costs of the solutions.

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ENERGY EFFICIENT MATERIALS MARKET REGIONAL INSIGHTS

"North America to Dominate the Market due to its Elevated Building Standards"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America has emerged as the most dominant region in the Energy Efficient Materials Market share owing to some factors, such as elevated building standards and energy efficiency laws, that spur the use of improved materials in construction. The emphasis on sustainability and the need to decrease carbon emissions prevalent in the region, with the help of governmental programmes and aid, enhance the utilisation of efficient energy consumption solutions. However, awareness among users and companies of the positive impacts of efficiency, coupled with adequate funds to invest in research, provides competitiveness and availability of the latest offerings. 

KEY INDUSTRY PLAYERS

"Key Players Transforming the Energy Efficient Materials Market through Research and Development"

Customer is another very significant factor that determines the energy-efficient material market since they also impact the changes needed in the market through industrial players. All these companies strive to undertake research and development in manufacturing superior-quality materials with energy efficiency, sustainability, and durability. They are widely available and have good relations with contractors, architects, builders, and developers, which enable them to put these materials into practice in homes, offices, and industries. Furthermore, these players also determine specifications and certifications like LEED and Energy Star, which, in a way, backup the effectiveness and reliability of the energy-efficient material.

List of Market Players Profiled

• Solvay (Europe)
• Loyal Group (India)
• LG (South Korea)
• Saint-Gobain (Europe)
• Cornerstone Industrial Minera (U.S.)

INDUSTRIAL DEVELOPMENT

March 2024: In March 2024, Rockwool said that it would begin the construction of a new, modern manufacturing plant in Walla Walla County, Washington. This plant will incorporate an electric melting process and respond to the increasing market for stone wool insulation.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Energy Efficient Materials Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.