In accordance with the Intergovernmental Panel on Climate Change(IPCC) report, buildings are the largest energy consuming sector with nearly 40% of energy consumed and are responsible for approximately 36% of global carbon emission. To deal with the same, the construction methods, material, and insulation materials have developed considerably. According to the market intelligence report by BIS Research titled, ‘Global Insulation Materials Market- Analysis and Forecast (2017-2021),’ the market is expected to reach $ 53.4 billion by the year 2021, registering a CAGR of 6.2% during the forecast period. This tremendous growth is attributed to the increase in demands of energy efficient products, governmental regulations, incentives, and rising market penetration of insulation products in several end-user industries. Furthermore, reduction in energy consumption and its related costs, stringent regulations to reduce greenhouse gas emissions, and the increase in net-zero energy buildings, population growth and urbanization are some of the factors propelling up the market for insulation materials.