Thermal Insulating Mortars Market Analysis and Latest Trends
Thermal insulating mortars are specialized materials used in construction to create a thermal barrier that helps reduce heat transfer. These mortars are typically made of lightweight aggregates, binders, and additives that improve thermal conductivity and insulation properties. They are commonly used in exterior walls, façades, and rooftops to improve energy efficiency and reduce heating and cooling costs.
The global Thermal Insulating Mortars Market is expected to grow at a CAGR of 4.1% during the forecast period. The growth of the market is driven by increasing awareness about energy conservation, stricter building codes and regulations promoting energy-efficient construction practices, and the growing demand for sustainable building materials. Additionally, the rising adoption of green building practices and the increasing focus on reducing carbon emissions are also contributing to the growth of the market.
Recent trends in the Thermal Insulating Mortars Market include the development of advanced insulating mortars with improved thermal performance, fire resistance, and durability. Manufacturers are also focusing on product innovations, such as the integration of phase change materials to enhance thermal regulation in buildings. The increasing adoption of prefabricated insulating mortar systems is also expected to drive market growth in the coming years.
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Thermal Insulating Mortars Major Market Players
The thermal insulating mortars market is highly competitive, with key players like Laterlite, KREISEL, Liapor, FASSA, ROFIX, Knauf, VAGA, and RALLK dominating the industry.
One of the leading players in the market is Knauf. The company has witnessed steady growth in the thermal insulating mortars market due to its extensive product portfolio and strategic partnerships with distributors and contractors. Knauf has been focusing on expanding its presence in emerging markets and investing in research and development to introduce innovative products in the market.
Another key player, FASSA, has also seen significant growth in the market due to its high-quality products and strong customer base. The company has been investing in expanding its production facilities and enhancing its distribution network to reach a larger customer base.
In terms of market size, the thermal insulating mortars market is expected to reach a value of $XX million by 2025, with a CAGR of XX% during the forecast period. The market is expected to witness steady growth due to the increasing demand for energy-efficient buildings and the growing construction industry globally.
In terms of sales revenue, companies like Knauf and FASSA have reported revenues of $XX million and $XX million, respectively. These companies have been investing in expanding their product offerings and increasing their market share to capitalize on the growing demand for thermal insulating mortars.
Overall, the thermal insulating mortars market is highly competitive, with key players focusing on expanding their market presence, investing in research and development, and enhancing their distribution networks to drive growth in the industry.
What Are The Key Opportunities For Thermal Insulating Mortars Manufacturers?
The global Thermal Insulating Mortars market is expected to witness robust growth in the coming years, with a CAGR of around 6% from 2021 to 2026. The market is driven by the increasing demand for energy-efficient construction materials in the residential and commercial sectors. Advancements in building technology and a growing focus on sustainability are also contributing to the market growth. Additionally, the rising awareness about energy conservation and strict building regulations are further boosting the adoption of thermal insulating mortars. The market is anticipated to continue its upward trajectory, offering lucrative opportunities for manufacturers and suppliers in the future.
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Market Segmentation
The Thermal Insulating Mortars Market Analysis by types is segmented into:
Thermal insulating mortars are categorized into two types: inorganic insulating mortar and organic insulating mortar. Inorganic insulating mortars are made from materials like perlite, vermiculite, and expanded clay, providing excellent thermal insulation properties. On the other hand, organic insulating mortars are made from materials like polystyrene, polyurethane, and phenolic resin, offering lightweight and easy application. Both types are used in construction to improve energy efficiency and reduce heat transfer, providing a more comfortable indoor environment.