Industrial Insulation - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Industrial Insulation Market is accounted for $2.06 billion in 2019 and is expected to reach $3.40 billion by 2027 growing at a CAGR of 6.5% during the forecast period. Regulations mandating the use of insulation for energy conservation and rising power and energy requirements in emerging as well as developed economies are the major factors propelling the market growth. However, factors such as low awareness regarding the usage of insulation products and fluctuating raw material prices due to volatility in crude oil prices are hampering the market growth.
Insulation is a layer or coating of resistant material, which serves as a barrier to the targeted energy. Insulation protects industrial appliances from fire hazards, prevents the condensation of moisture on the equipment, and protects the equipment at extremely low or high temperatures leading to reduced accidental risks. Insulation eliminates the heat transfer out of the equipment system and improves machine performance by making manufacturing processes more efficient. It offers frost protection to pipelines at low temperatures which makes it suitable for transportation equipment. In addition, it also helps in lowering the manufacturing and energy cost leading to an increased adoption of industrial insulation.
Based on end user, the power generation segment is going to have a lucrative growth during the forecast period owing to stringent regulations mandating the use of industrial insulation to conserve energy and achieve efficiency in operations. Calcium silicate is one of the most widely used insulation materials in the power generation industry. It is used to insulate high-temperature pipes and equipment and for fire endurance applications. In the power generation industry, industrial insulation is used to cover a variety of equipment, such as steam pipes, heat storage tanks, and boilers.
By geography, North America is going to have a lucrative growth during the forecast period due to the implementation of new provincial building codes in several provinces addressing energy consumption in commercial buildings. Rise in the demand for high-quality products in order to reduce carbon emissions is expected to drive the regional market. Increasing number of recovery construction projects in the U.S., particularly in the commercial segments is projected to augment the growth. Rising awareness related to environment-friendly construction practices in the country is expected to further propel the product demand on account of its ability to reduce energy consumption.
Some of the key players profiled in the Industrial Insulation Market include Armacell International SA, BASF SE, Berkshire Hathaway Incorporated, Insulcon BV, Johns Manville, Kingspan Group PLC, Knauf Insulation, Nichias Corporation, Owens Corning, Paroc Group, Refractory Specialties Incorporated, Rockwool Group, Saint Gobain, Samhwa Chemicals Co., , Ltd, Solvay, and Thomas Insulation Corporation.
• Thermal Insulation
• Acoustic Insulation
• Moisture Proof
• Adhesive & Sealants
• Calcium Silicate
• Calcium, Magnesium, and Silica (CMS) Fibers
• Cellular Glass
• Elastomeric Foam
• Fiber Glass
• Micro Silica
• Mineral Wool
• Plastic Foams
End Users Covered:
• Eco-Industrial Park (EIP) Industries
• Electrical and Electronics
• Food & Beverage
• Heat Exchangers
• Hot & Cold Process Equipments
• Petrochemical & Refineries
• Power Generation
• Steel Manufacturing
• Storage Tanks
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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