2022The global building insulation market size is 28 billion US dollars in 2022, and it is estimated that by 2027 it will to reach USD 35.3 billion, with a CAGR of 4.7% from 2022 to 2027. The main purpose of building insulation is to minimize the amount of heat lost in winter and to limit the entry of hot air into the house in summer. In climates where the mean annual temperature varies widely, this is the most cost-effective measure and at the same time the most environmentally friendly form of insulation.
Data source: Statisia
One of the main characteristics of building insulation is energy saving. In 2022, due to the impact of market supply and demand and geopolitics, the price of natural gas in Europe has experienced many fluctuations. The cold winter is coming, and the European continent will continue to suffer from energy shortages. Global attention. The gas crisis ignited the prelude to the European energy crisis, and with the arrival of winter in the European continent, the European energy crisis is getting worse day by day. To make matters worse, energy shortages have further affected economic production, combined with interest rate hikes and other factors, resulting in soaring living costs and high inflation in the European market, which has a greater impact on the lives of local people. This also makes Europe the largest building insulation market in the world. Industrial expansion and technological development are driving the consumption of building insulation materials. Improving global economy is also expected to support the growth of the market in 2023. Rising investments are boosting the growth of German manufacturing. Economies such as Germany, UK, France, Poland, Italy, Spain, and Turkey are the major markets for building insulation materials. 75% of buildings in Europe today do not provide effective building insulation, and it is expected that 95% of these buildings will still be in use by 2050, which means that especially in times of energy crises, owners will therefore spend a lot of money on insulation or insulation. hot.
Polymerized MDI is one of the main raw materials used for insulation boards, and it has excellent performance in various heat preservation and cold preservation. In 2022, the global economy will experience a certain recession and the demand of end consumers will be relatively sluggish, but the import volume of polymeric MDI in Europe will still increase by 23% year-on-year, which is the highest growth rate market among all continents. The main reason is still its excellent warmth retention and its own low-carbon and energy-saving characteristics.
Data source: China Customs data collation
In summary, after the European building insulation market has experienced the severe energy crisis, the demand is bound to rise sharply. In addition, it can also help Europe better achieve the goal of energy saving and carbon reduction. In the next five years, global building insulation will also be more widely recognized and used, and the demand for MDI will continue to rise in Europe.
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