Global Industrial Insulation Market, By Raw Material (Stone Wool, Glass Wool, CMS Fibers, Calcium Silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica, Others), Form (Pipe, Blanket, Board, Others), End-Use Industry (Power, Chemical and Petrochemical, Oil and Gas, Cement, Food and Beverage, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Insulation is being widely adopted for numerous applications to avoid surface condensation, maintain low temperature for process control and deliver safety and protection quotient for the individuals. At present, insulation is gaining immense popularity for its ability to decline heat loss from uninsulated valves and bare pipes inside buildings.
Global industrial insulation market was valued at USD 2.64 billion in 2021 and is expected to reach USD 4.08 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022-2029. Stone Wool is expected to witness high growth in the raw material segment of the market owing to the easy availability of stone wool in various forms with different characteristics. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Insulation is defined to the process of obstructing electricity, sound and heat from entering or exiting a physical space. The process is known to be achieved through the installation of insulation materials acting as a barrier for energy flow.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Raw Material (Stone Wool, Glass Wool, CMS Fibers, Calcium Silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica, Others), Form (Pipe, Blanket, Board, Others), End-Use Industry (Power, Chemical and Petrochemical, Oil and Gas, Cement, Food and Beverage, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, and Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and Rest of Middle East and Africa (MEA).
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Market Players Covered
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Owens Corning (US), Saint-Gobain Group (France), Knauf Insulation. (Belgium), Kingspan Group (Ireland), ROCKWOOL International A/S (Denmark), Armacell (Luxembourg), Cabot Corporation (US), Johns Manville. (US), Insulcon B.V. (Netherlands), Promat SpA (Italy), Aerofoam (UAE), Arabian Fiberglass Insulation Company Ltd. (Saudi Arabia), Beijing New Building Material (Group) Co., Ltd. (China), Beijing Hocreboard Building Materials Co. Ltd. (China), Dyplast Products (US), GlassRock (Egypt), HUTCHINSON (France), L'ISOLANTE K-FLEX S.p.A. (Italy), NMC International SA (Belgium), Temati (Netherlands), Unifrax (US), and UNION FOAM (Italy), among others
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Market Opportunities
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Industrial Insulation Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Need to Improve Equipment Efficiency
The increase in product demand for enhancing the process performance and equipment efficiency across application industries acts as one of the major factors driving the growth of industrial insulation market. Also, rise in emphasis on the importance for energy efficiency due to the increasing energy costs has a positive impact on the market growth.
- Energy Conservation
The increase in the emphasis on energy conservation across industries verticals such as food and beverage, petrochemical and power, among others accelerate the market growth. Insulation materials are considered crucial in various heat transfer operations.
- Use of Cryogenic Insulation Equipment
The increase in the usage of use of cryogenic insulation equipment in numerous industrial applications further influence the market. Oil and Gas end users are deploying efficient cold insulation materials in cryogenic operations where maintaining low temperature is crucial while mitigating the loss of energy.
Additionally, the surge in investments, expansion of manufacturing industries, usage in consumer goods packaging and rapid industrialization positively affect the industrial insulation market.
Opportunities
Furthermore, increased infrastructural spending in emerging economies extend profitable opportunities to the market players 2022 to 2029. Also, technological investment will further expand the market.
Restraints/Challenges faced by the Industrial Insulation Market
On the other hand, high cost associated with the installation and requirement of skilled workforce are expected to obstruct the market growth. Also, fluctuating raw material prices due to volatility in crude oil prices, and low awareness regarding the usage of insulation products are projected to challenge the industrial insulation market.
This industrial insulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial insulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 had a minimal Impact on Industrial Insulation Market
COVID-19 had a negative impact on various industries including industrial insulation market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The cold insulation industry faced huge problems due to the shortage of laborers declining the low production. A decline in the demand for industrial insulation was witnessed owing to the limited production and shut down of industries, such as oil and gas, and chemicals. However, the industrial insulation market is expected to witness growth in demand after the post-covid-19 situation.
Recent Developments
- Owens Corning unveiled FOAMULAR NGX (Next Generation Extruded), a new product line in August’2020. The proprietary blowing agent in this extruded polystyrene (XPS) foam products aims to deliver 90% reduction in global warming potential (GWP).
Global Industrial Insulation Market Scope
The industrial insulation market is segmented on the basis of raw material, form and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
- Stone Wool
- Glass Wool
- CMS Fibers
- Calcium Silicate
- Cellular Glass
- Foamed Plastic
- Elastomeric Foam
- Perlite
- Aerogel
- Cellulose
- Micro Silica
- Others
Form
- Pipe
- Blanket
- Board
- Others
End-Use Industry
- Power
- Chemical and Petrochemical
- Oil and Gas
- Cement
- Food and Beverage
- Others
Industrial Insulation Market Regional Analysis/Insights
The industrial insulation market is analysed and market size insights and trends are provided by country, raw material, form and end-use industry as referenced above.
The countries covered in the industrial insulation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the industrial insulation market because of the implementation of strict regulations related to insulation requirements implemented by the European governments within the region.
North America are expected to witness a steady rate during the forecast period of 2022 to 2029 due to the implementation of new provincial building codes in several regions associated with energy consumption in commercial buildings in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial Insulation Market Share Analysis
The industrial insulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial insulation market.
Some of the major players operating in the industrial insulation market are
- Owens Corning (US)
- Saint-Gobain Group (France)
- Knauf Insulation. (Belgium)
- Kingspan Group (Ireland)
- ROCKWOOL International A/S (Denmark)
- Armacell (Luxembourg)
- Cabot Corporation (US)
- Johns Manville. (US)
- Insulcon B.V. (Netherlands)
- Promat SpA (Italy)
- Aerofoam (UAE)
- Arabian Fiberglass Insulation Company Ltd. (Saudi Arabia)
- Beijing New Building Material (Group) Co., Ltd. (China)
- Beijing Hocreboard Building Materials Co. Ltd. (China)
- Dyplast Products (US)
- GlassRock (Egypt)
- HUTCHINSON (France)
- L'ISOLANTE K-FLEX S.p.A. (Italy)
- NMC International SA (Belgium)
- Temati (Netherlands)
- Unifrax (US)
- UNION FOAM (Italy)
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