Cork Insulation Market Size - By Product Type, By Insulation Type, By Usage, By Construction Type, By End Use, By Sales Channel Analysis, Share, Growth Forecast, 2024 - 2032

Cork Insulation Market Size

The global cork insulation market was valued at USD 665.1 million in 2023 and is estimated to grow at a CAGR of over 3.88% from 2024 to 2032.
 

The market for cork insulation products is a sub-sector of the sustainable construction and green building materials market, propelled by the globalization of energy efficiency and the push to conserve the environment. The modern consumer market for cork insulation is resolutely environmentally friendly due to the product’s ability to be sourced sustainably, its thermal efficiency, and its recyclability. Regulatory requirements on the construction of eco-friendly designs, the higher price of energy, and the inclination towards sustainable living are a few factors that sway buying choices.
 

This market has been on the rise since the beginning of the 2010s, as a result of global efforts in lower carbonization embraced by agreements like the Paris Accord, which sought reduced energy requirements of buildings. Global trends such as the growth in the construction industry, restructuring of the cork processing industry, and government investments aimed at achieving energy-equivalent infrastructures, particularly in developing countries, have accelerated growth in this sector.

Cork Insulation Market Trends

Furthermore, the growth of the cork insulation market is bolstered by new developments in the process of production and the broadening of the range of products. Firms are developing new materials like spray cork coatings and composite insulation panels, which are used in niche areas, such as soundproofing and fire retardants. European regional markets such as Portugal and Spain are advancing to the forefront of the fight, given their history of being experienced cork producers, while newer markets in Asia and North America are becoming more receptive due to the increase in construction activities and tighter energy efficiency measures. This trend is providing strong reinforcement to the insulation marketing industry, actively driven by innovation.
 

Cork Insulation Market Analysis

The insulation market with regards to cork is observing substantial growth. This can largely be attributed to the globalization of sustainable construction materials as well as the increasing role energy efficiency plays. Along with this, there is a stronger push towards cork insulation due to the construction industry adopting eco-friendly measures and methods. Recent technological advancements have also unlocked a whole new range of modern applications, which include spray-applied cork coatings, composite panels, and many more. All these factors combined allow cork to reach broader markets such as multi-family housing, commercial buildings, and even industrial construction.
 

In order to reinforce and increase the amount of cork produced, there were a few measures taken by the governments within cork-growing areas. For instance, within the area of Portugal that accounts for almost 50% of the cork produced worldwide, regulations were formulated to support the growth of cork oak forests. Moreover, there has also been an introduction of international programs such as the PEFC, which aims at responsible practice by those who extract cork. Such products, which are endorsed, improve the market of cork products by ensuring the consumers that the product comes from a legitimate source.

• Based on product type, the cork insulation market is segmented into expanded cork insulation boards, spray cork coating, cork granules, and others (cork-based insulation mats, etc.). The segment of expanded cork insulation boards registered revenue of about USD 303.6 million in the year 2023 and is projected to grow at a CAGR of around 3.48% between 2024 and 2032.
   
• As a result of their ability to meet myriad requirements, exceptional insulation capabilities, and compliance with environmentalist developments, expanded cork insulation boards possess the most significant share of the cork insulation industry. These boards are 100% eco-friendly, produced out of shredded corks, which undergo a compression and heating process to yield a great acoustic and thermal insulating material. In addition, these boards are quite safe and durable due to their nontoxicity, moisture and fire resistance, biodegradability, and non-volatility.
   
• Although the market for cork insulation boards is expanding at an impressive rate as predicted, there are a number of challenges that hinder the full growth potential of this market. These challenges include new market entrants who are able to provide products at significantly lower costs. A significant example of this is China, which is able to provide noticeably lower costs. On the other hand, the rising construction of both energy efficient as well as green buildings tends to encourage developers and architects to broaden their spectrum by, for instance, including materials like cork insulation and effectively promoting compliance with existing codes. LEED and BREAM are just a few standards.

• Based on the construction type, the global cork insulation market is categorized as new construction and renovation/retrofit. The new construction segment held around 66% of the total market share in 2023 and is anticipated to reach a value of USD 646.6 Mn in the forecasted year 2032. When it comes to cork insulation, the new construction segment makes vast contributions, and this can be explained by the current global trend favoring energy-efficient construction methods and sustainable building design.
   
• In addition to modern energy codes, green building standards such as LEED and BREEAM are readily available to architects and contractors today. Cork insulation can be easily incorporated into new developments because geo-ecology is designed from the ground up for eco-friendly materials. This shift of eco-colored goods has been CSP promoted directly due to the ongoing changes in the building emissions and energy regulations, placing cork products in high demand within the new building segment of the market.

• In terms of the country, the U.S. dominates in the North America cork insulation market and valued at USD 119.1 million in 2023 and is estimated to grow at a CAGR of over 4.68% from 2024 to 2032. The U.S. dominates the market in North America due to its advanced construction sector, strong focus on energy efficiency, and growing adoption of sustainable building materials. With federal and state-level initiatives such as the U.S. Department of Energy’s Building Energy Codes Program and incentives for energy-efficient construction, the demand for high-performance insulation materials like cork has surged.
   
• Additionally, the U.S. market benefits from high awareness and willingness among consumers and businesses to invest in sustainable solutions, driven by rising energy costs and environmental consciousness. The construction sector in the U.S. is also robust, with large-scale infrastructure and housing projects driving demand for innovative materials like cork insulation. Although the U.S. does not produce cork domestically, its advanced supply chain networks and partnerships with cork-producing countries like Portugal ensure consistent availability of raw materials.
   
• Moreover, this is complemented by growing awareness and willingness to pay for environmentally friendly solutions among consumers and businesses, as well as rising energy prices. The construction market in the USA is also strong due to the development of infrastructure and new homes, which increases the need for new materials such as cork insulation. The U.S. does not produce cork, but it has a strong supply network and integrates well with countries such as Portugal, ensuring optimal availability of raw materials.
   

North America: The Canada cork insulation market is estimated to grow approximately at 5.67% during the forecast period.
 

This market is on the rise as a result of industry participants’ efforts to promote healthy building activities and energy-efficient solutions in Canada. Being a renewable material with excellent insulation characteristics, cork insulation fits within green building concepts and energy-efficient building standards that are prevalent in Canada. Eco-friendly thermal CorkShield is one of the products offered by Thermal VIPEQ Canada to provide environmentally friendly thermal insulation, sound absorption, and waterproofing.
 

Europe: In 2023, Europe will have a 39% share of the cork insulation market, and it is projected to have a CAGR of 3.5% during the forecast period. The reasons for Europe spearheading the market are the sustainable policies, energy-efficient initiatives, and a large local production of cork. Over 80% of Portugal and Spain supply cork, which gives Europe a cost and logistical edge for producing cork insulation and for the market in general.
 

In addition to this, the European Union Commission, through its Directive on the energy performance of buildings, has also, on its part, contributed to the increase in the use of cork building materials across Europe.
 

Cork’s positioning within the economic framework in the European Union creates a window for a paradigm shift towards a circular economy and a decrease in carbon emissions, in accordance with goals set in the EU’s Green Deal that seeks to attain climate neutrality by the year 2050, which enhances the strategic direction. Building construction projects in Europe are given cash and tax incentives if sustainable materials are used, which also enhances the financial aspect of cork insulation. Additionally, the insulation market and production of cork have benefited greatly from the Portuguese government’s initiatives that support sustainable forest management practices. More reassurance regarding sustainability made further use of cork insulation with the British covering all wastes and the American heating and cooling systems green certifications. Further, through the use of local supplies along with the supportive ISO, the leaders of green insulating materials were established, creating the needed history for Europe.
 

Asia Pacific: The Asia Pacific region is expected to occupy close to 18% of the market for cork insulation in 2023, and this market share is anticipated to increase at a CAGR of roughly 4.04% throughout the forecast period.
 

The Asia Pacific region has the ability to be the greatest market compared to others in the cork insulation region because of the ongoing urbanization process, growth in the construction sector, and emphasis on sustainable development. Developing nations such as China, India, and Southeast Asia are the largest markets as a result of the increased population, urbanization, and development of infrastructure projects by governments. This further creates great opportunities for cork insulation as countries of the region shift towards improving their energy efficiency codes and policies for green buildings to deal with climate change and growing energy needs. For example, India’s Energy Conservation Building Code (ECBC) and China’s Green Building Action Plan aim to create an environment where energy-efficient and environmentally sustainable materials can be used, which is beneficial to investments in cork insulation.
 

Cork Insulation Market Share

In the year 2023, companies such as Amorim Cork Insulation, MAPEI, as well as ThermaCork, have been reported to hold an aggregate market percentage of 5 to 10 percent. These specific companies are involved in mergers alongside acquisitions, facility expansions in conjunction with collaborations in order to broaden their customer reach and boost their market positions.
 

In an attempt to keep up with the demands of the construction industry, advanced smart cork insulation materials are being developed throughout by various companies through heavy investments in research and development.
 

Cork Insulation Market Companies

• Around November of 2024, Spray Masters, together with its high-quality insulating cork spray application, got officially launched in Spain. The needs for green materials in Spain facilitated the effective launch of this service. In full alignment with the growth of insulation industries in residential sectors accompanied by the commercial growth, seamlessly advanced cork technologies were integrated.
   
• Waterland-backed ‘Net Zero’ successfully acquired Envirobead, the Irish cork insulation firm. It becomes evident that the acquisition of Envirobead was driven by the demands for renewable materials. This acquisition, alongside multiple others, aids in the consolidation of the cork insulation industry.
   
• With the establishment of a new retrofitting skills center in Cork, Ireland, the goal is to provide specialists with the knowledge to develop energy-efficient solutions such as cork insulation. This initiative aims to respond to the growing need for having sustainable retrofitting solutions that meet stringent energy efficiency standards, thereby aligning with Irish climate objectives and promoting the usage of green materials such as cork insulation in building construction.
   

This cork insulation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Thousand Square Feet) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Expanded cork insulation boards
• Spray cork coating
• Cork granules
• Others (Cork based insulation mats, etc.)

Market, By Insulation Type

• Thermal
  • Wall insulation
  • Roof insulation
• Acoustic
  • Soundproofing panels
  • Vibration dampening
• Fireproof Insulation
• Others (Moisture, etc.)

Market, By Usage

• Interior
• Exterior
• Cavity wall
• Others (Underfloor, etc.)

Market, By Construction Type

• New construction
• Renovation/retrofit

Market, By End Use

• Residential
  • Home
  • Apartments
• Commercial
  • Offices
  • Retail space
• Industrial
  • Warehouses
  • Manufacturing facilities

Market, By Sales Channel

• Direct sales
• Indirect sales

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa