The global thermal insulation market is dominated by several key players known for their innovation, sustainability initiatives, and extensive product portfolios. These companies cater to diverse sectors, including construction, automotive, and industrial applications.

According to Stratview Research, the thermal insulation market was estimated at USD 58.2 billion in 2023 and is likely to grow at a CAGR of 3.1% during 2023-2028 to reach USD 67.7 billion in 2028.

1. Kingspan Group PLC (Ireland): Kingspan is a leading manufacturer of high-performance insulation and building envelope solutions. With operations in over 80 countries and more than 210 manufacturing sites, the company emphasizes sustainability, aiming for net-zero emissions in its facilities.

2. Knauf Insulation (Germany/USA): Knauf Insulation, part of the Knauf Group, is a major producer of insulation materials, including glass wool, stone wool, and wood wool boards. Operating in over 40 countries with 27 manufacturing sites, the company focuses on eco-friendly products and energy efficiency.

3. Owens Corning (USA): Owens Corning specializes in insulation, roofing, and fiberglass composites. As the world's largest manufacturer of fiberglass composites, the company operates 31 insulation facilities globally and reported revenues of $10.98 billion in 2024.

4. Saint-Gobain S.A. (France): Saint-Gobain is engaged in the design, manufacturing, and distribution of high-performance materials, including insulation products. The company offers solutions for energy efficiency and environmental protection, serving various industries worldwide.

5. Rockwool International A/S (Denmark): Rockwool specializes in stone wool insulation products, offering fire-resistant and sustainable solutions. With a global presence, the company focuses on energy efficiency and noise reduction in buildings.

6. BASF SE (Germany): BASF is a leading chemical company providing insulation materials like polyurethane foam. The company invests in sustainable insulation solutions, including products derived from recycled materials, to reduce the carbon footprint of buildings.

7. Johns Manville (USA): A Berkshire Hathaway company, Johns Manville manufactures insulation, roofing materials, and engineered products. With over 8,000 employees and 46 manufacturing facilities, the company serves commercial, industrial, and residential markets.

8. Dow Inc. (USA): Dow offers a range of insulation solutions, including Styrofoam™ brand extruded polystyrene foam. The company focuses on innovation and sustainability in building materials.

9. Aspen Aerogels (USA): Aspen Aerogels specializes in advanced aerogel insulation materials used in energy infrastructure and electric vehicles. The company has secured significant contracts with major automotive manufacturers and received a $670.6 million loan from the U.S. Department of Energy to expand its manufacturing capacity.

10. Covestro AG (Germany): Covestro produces high-performance insulation materials, including polyurethanes and polycarbonates. The company emphasizes sustainability and innovation in its product offerings.

These companies continue to drive the thermal insulation market forward through technological advancements, sustainable practices, and strategic global operations.