World: Demand for sheep’s wool insulation will increase at a compound annual growth rate (CAGR) of 11% between 2024 and 2031, according to a new report from US-based Market Research Intellect. This will expand the market from a value of US$500m in 2024 to US$1.2bn in 2031.
New developments in processing and treatment enable sheep’s wool insulation to attain to comparable durability and fire resistance to conventional insulation materials. Other anticipated growth drivers include increased demand for reduced-CO2, biodegradable and moisture-regulating building materials and increased government funding and tax incentives. Europe held a ‘significant’ share of the sheep’s wool insulation market in 2024. Public-private partnerships and national transformation agendas, especially in emerging economies, are reportedly creating favourable conditions for global growth.
