Global OEM Insulation Market - 2021-2028
OEM Insulation Market Overview
The global OEM Insulation market size was worth USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Original Equipment Manufacturer (OEM) requires solutions that add value and protect the equipment in offsite construction and offsite manufacturing finished systems. OEM insulation is engineered with thermal properties and safety standards in mind to protect the equipment such as appliances, HVAC and others. In addition, OEM insulation provides excellent sound absorption that reduces noises caused by vibrations or rattling and can even minimize noise transfer.
OEM insulation market is segmented into glass fibers, crosslinked polyolefin foam and mineral wool based on material type. In the segment, fiberglass holds the major segment.
Moreover, increasing demand of sustainable and energy-efficient machines are driving the OEM Insulation market. However, fluctuations in raw materials prices are likely to hinder.
OEM Insulation Market Dynamics
Increasing demand of sustainable and energy-efficient machines are driving the OEM Insulation market
Infrastructures and industry consume more than 31% of available energy globally, with electrical motors alone representing more than 60% of this amount. With the increasing cost of electricity and fuels, intelligent consumption is a major concern for users and manufacturers.
The thermal insulating properties of OEM insulation materials prevent heat from radiating from the component into the ambient air. Meanwhile, the same properties are used to benefit cold components that cause condensation, preventing the ambient air from coming into contact with the surface temperature of the component. These save the user dollars and therms on their utility bills and reduces GHG emissions.
Moreover, sustainability has become an important factor on which companies are giving emphasized. For instance, In January 2021, Johns Manville, an American company, announced the successful launch of a thermal recycling unit for waste glass fibers in its Engineered Products plant in Trnava, Slovakia.
Fluctuations in raw materials prices is expected to hinder the OEM insulation market
The fluctuation in the raw material price is a factor hampering the growth of the OEM insulation market. Additives, binders, resins, and pigments are common raw materials used to produce insulation solutions. Fluctuations in crude oil prices negatively affect the price of raw materials, thereby influencing the cost of insulation coating.
OEM Insulation Market Segment Analysis
Based on material type, OEM insulation market is segmented into glass fibers, crosslinked polyolefin foam and mineral wool.
Fiberglass holds the major segment of the OEM insulation market by material type. It provides high-performing OEM solutions that resist heat transfer and dampen sound in specialty applications such as automotive and transportation, appliances, education and office buildings, theaters, auditoriums and filtration.
For instance, Johns Manville's Micro-Fiber® Felt is made using Type 475 borosilicate glass fibers using a water deposition process, resulting in a lightweight, flexible, binderless felt with excellent handling qualities and superior acoustic and thermal performance. It is designed for the insulation of aircraft components and jet engine ducting.
Moreover, in January 2020, an American company named Owens Corning launched a next-generation insulation product made by PureFiber Technology.
OEM Insulation Market Geographical Analysis
The global OEM insulation market is categorized into five key regions: North America, Europe, Asia Pacific, South America and the Middle East and Africa.
Currently, the global market is led by the Asia Pacific region. The growth of the OEM insulation market in the Asia Pacific region is attributed to the growing construction industry and the development of the transportation industry. Moreover, the emergence of developing nations such as China and India show that the growth of the OEM insulation market is only expected to support further.
The nations are investing heavily in the development of their domestic infrastructure. For instance, The Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. Moreover, as per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year.
As a result, this presenting a lucrative market space for the leading companies in the domain.
OEM Insulation Market Competitive Landscape
The OEM Insulation market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Johns Manville, Knauf Insulation, Trocellen, ROCKWOOL International A/S, Shannon INSULTECH International Kft., Thermaxx Jackets, Sekisui Foam Australia, Saint-Gobain, Owens Corning Corporation, Aspen Aerogels Inc. among others. The major players are adopting several growth strategies such as Insulation launches, acquisitions, and collaborations, which are contributing to the growth of the OEM insulation market globally.
Johns Manville
Overview: Johns Manville is an American company that manufactures and markets insulation and commercial roofing, along with glass fibers and nonwovens. The company is headquartered in Denver, Colorado.
Product Portfolio: Johns Manville offers seven categories of products based on different application. These are Aerospace, appliance, HVAC, Office Interiors, Specialty, Transportation and Facings.
Key Developments:
• On November 21, 2019, Johns Manville acquired ITW Insulation Systems, a business owned by Illinois Tool Works Inc. ITW Insulation Systems provides premium, low-temperature polyisocyanurate foam insulations and metal jacketing solutions. With the acquisition, Johns Manville expanded its insulation solutions to the industrial market
Why Purchase the Report?
• Visualize the composition of the OEM insulation market segmentation by material type, insulation type, application, end-user and region highlighting the key commercial assets and players.
• Identify commercial opportunities in OEM insulation market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of OEM insulation market - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Insulation mapping in excel for the key Insulation of all major market players
The global OEM insulation market report would provide an access to an approx. 69 market data table, 67 figures and 238 pages.
Target Audience
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers
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