The Global Thermal Insulation Material Market was valued at USD 69.33 Billion in 2023 and is anticipated to reach USD 101 Billion by 2030, expanding at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period (2024–2030). This robust growth trajectory is propelled by escalating worldwide emphasis on energy conservation, stringent building codes mandating higher thermal performance, and the persistent expansion of construction and industrial sectors, especially in emerging economies.

As industries and nations intensify their decarbonization and energy efficiency goals, the demand for high-performance insulation materials that curtail energy loss and reduce carbon footprints has never been more critical. In this analysis, we spotlight the Top 10 Companies in the Thermal Insulation Material Industry—a diverse group of global manufacturers and innovators that are defining the standards for thermal performance and sustainability across building, industrial, and appliance applications.

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🔟 1. Saint-Gobain

Headquarters: Courbevoie, France
Key Offering: Glass wool, stone wool, foam insulation (ISOVER, CERTAINTEED)

Saint-Gobain is a world leader in the design, production, and distribution of construction and high-performance materials. Its insulation portfolio, largely marketed under the ISOVER and CERTAINTEED brands in North America, includes comprehensive solutions for residential, commercial, and industrial applications, emphasizing energy efficiency and acoustic comfort.

Innovation & Sustainability Focus:

• Pioneering ultra-thin, high-performance glass wool solutions

• Strong commitment to circular economy principles with recycled content in products

• Net-zero carbon roadmap with significant investments in decarbonizing manufacturing

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9️⃣ 2. Kingspan Group

Headquarters: Kingscourt, Ireland
Key Offering: Rigid insulation boards (Kooltherm, Therma), insulated panels

Kingspan specializes in high-performance insulation and building envelope solutions. The company is renowned for its advanced rigid foam insulation boards and insulated metal panels, which deliver exceptional thermal efficiency for walls, roofs, and floors in demanding commercial and industrial settings.

Innovation & Sustainability Focus:

• Planet Passionate sustainability strategy targeting net-zero carbon manufacturing

• Development of bio-based and carbon-negative insulation products

• Leadership in “insulation as a service” and digital tools for building performance

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8️⃣ 3. Rockwool International

Headquarters: Hedehusene, Denmark
Key Offering: Stone wool insulation for building, industrial, and horticulture

Rockwool International is a leading producer of stone wool insulation, a non-combustible material made from volcanic rock. Its products provide superior fire resistance, acoustic dampening, and thermal insulation, making them essential for fire-safe and energy-efficient buildings.

Innovation & Sustainability Focus:

• Focus on enhancing the recyclability and circularity of stone wool products

• R&D into reducing the embodied carbon of insulation manufacturing

• Commitment to science-based targets for emissions reduction

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7️⃣ 4. Owens Corning

Headquarters: Toledo, Ohio, USA
Key Offering: Fiberglass insulation, foam insulation (FOAMGLAS), roofing solutions

Owens Corning is a global building and construction materials leader, with a massive footprint in the residential and commercial insulation markets. Its pink Fiberglas insulation is iconic in North America, and its FOAMGLAS cellular glass insulation is critical for high-temperature industrial applications.

Innovation & Sustainability Focus:

• Aggressive 2030 sustainability goals, including a 50% reduction in absolute GHG emissions

• Leading producer of insulation with high recycled glass content

• Expansion of product lines to meet Passive House and other ultra-low-energy standards

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6️⃣ 5. Knauf Insulation

Headquarters: Iphofen, Germany
Key Offering: Glass mineral wool, rock mineral wool, EPS insulation

Knauf Insulation is a family-owned company and a major global force in insulation solutions. It is recognized for its ECOSE Technology, a bio-based binder that reduces embodied energy and creates a softer, low-dust product, improving installer and occupant well-being.

Innovation & Sustainability Focus:

• Industry-leading ECOSE Technology using bio-based, formaldehyde-free binders

• Committed to achieving a 15% reduction in carbon intensity by 2025

• Focus on creating a fully circular insulation product lifecycle

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5️⃣ 6. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), polyurethane foams (Elastopor)

As a chemical giant, BASF produces a wide array of high-performance insulation materials, primarily plastic foams. Its Neopor brand of graphite-enhanced EPS offers significantly improved thermal resistance, while its polyurethane systems are vital for appliances and commercial roofing.

Innovation & Sustainability Focus:

• Development of insulation materials with low Global Warming Potential (GWP) blowing agents

• Innovations in vacuum insulation panels (VIPs) for ultra-thin applications

• Integration of recycled and bio-based raw materials into foam production

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4️⃣ 7. Johns Manville

Headquarters: Denver, Colorado, USA
Key Offering: Fiberglass insulation, foam insulation, roofing systems

A Berkshire Hathaway company, Johns Manville is a leading manufacturer of insulation, roofing, and engineered products. It offers a complete range of fiberglass batts, rolls, and loose-fill insulation for residential and commercial markets, known for its quality and consistency.

Innovation & Sustainability Focus:

• Strong focus on product safety and indoor air quality with low-VOC products

• Continuous improvement in manufacturing energy efficiency

• Development of specialized industrial and metal building insulation systems

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3️⃣ 8. GAF Materials Corporation

Headquarters: Parsippany, New Jersey, USA
Key Offering: Roofing insulation boards (polyiso, EPS), roofing systems

GAF is North America’s largest roofing manufacturer, and its insulation division is a critical supplier of polyisocyanurate (polyiso) and expanded polystyrene (EPS) roof insulation boards. These products are essential components for commercial low-slope roofing systems, providing critical R-value and durability.

Innovation & Sustainability Focus:

• Investment in recycling programs for post-consumer roofing and insulation materials

• Development of high-R-value, durable polyiso insulation membranes

• Commitment to sustainable sourcing and reducing the environmental footprint of roofing systems

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2️⃣ 9. Armacell International S.A.

Headquarters: Luxembourg City, Luxembourg
Key Offering: Flexible elastomeric foam (FEF) insulation (ArmaFlex), PET foam

Armacell is a global leader in flexible foam insulation materials, primarily for mechanical systems in HVAC, plumbing, and industrial applications. Its ArmaFlex brand of closed-cell foam is the industry standard for preventing condensation and conserving energy on pipes and ducts.

Innovation & Sustainability Focus:

• Pioneer in developing FEF insulation with reduced global warming impact

• Innovation in PET foam insulation made from recycled PET bottles

• Strong focus on lifecycle assessment and environmental product declarations (EPDs)

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1️⃣ 10. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Styrofoam brand XPS, polyurethane spray foams, STYROFOAM extruded polystyrene

Dow is a premier materials science company whose insulation portfolio includes the iconic STYROFOAM brand of extruded polystyrene (XPS) and a wide range of polyurethane chemistries for spray foam and boardstock. These materials are critical for energy-efficient building envelopes and appliance insulation.

Innovation & Sustainability Focus:

• Development of next-generation blowing agents with near-zero Ozone Depletion Potential (ODP) and low GWP

• Commitment to incorporating circular and renewable feedstocks into product lines

• Active partnerships to advance building energy codes and standards globally

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🌍 Outlook: The Future of Thermal Insulation Is Smarter and More Sustainable

The thermal insulation material market is at a pivotal juncture, transitioning from a purely commodity-focused industry to one driven by sustainability, performance, and digital integration. While traditional materials like fiberglass and EPS remain volume leaders, the push for net-zero buildings and industrial efficiency is accelerating the adoption of advanced materials and smart solutions.

📈 Key Trends Shaping the Market:

• Accelerated regulatory push for building energy efficiency and decarbonization, such as the EU’s Energy Performance of Buildings Directive (EPBD)

• Growing demand for bio-based, recycled-content, and low-embodied-carbon insulation materials

• Increased adoption of aerogels and vacuum insulation panels (VIPs) for space-constrained applications

• Digitalization and Building Information Modeling (BIM) integration for optimized insulation specification and installation

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Thermal Insulation Material Market – View in Detailed Research Report

The companies profiled above are not just supplying materials; they are providing the essential technological foundation for a more energy-efficient and low-carbon global economy. Their continued innovation is critical to achieving international climate goals and building a sustainable future.