Industrial Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Industrial Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global industrial insulation market size reached US$ 7.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
Insulation refers to the process of barricading the entry of electricity, heat, and sound in the physical space of the equipment. In industrial spaces, it is extensively employed for maintaining temperature through the help of various components, including storage tanks, boilers, vessels, and pipes. They are usually made of low thermal conductivity materials, such as mineral wool, polyethene, and polystyrene, which aids in reducing energy costs and moisture condensation, mitigating corrosion, decreasing unwanted loss or gain of heat and promoting minimal energy consumption.
Industrial Insulation Market Trends:
The widespread adoption of industrial insulation across automotive, petrochemicals, oil and gas, power generation and electronic sectors can be attributed to the rising need to make manufacturing processes more efficient as it obstructs the heat transfer of the equipment systems and enhances machine performance. This represents the key factor primarily driving the market growth. In line with this, the escalating demand for power generation has prompted governments of various countries to implement stringent regulations to promote the uptake of insulation materials, which is acting as another growth-inducing factor. This, in turn, assists in ensuring energy conservation and process optimization, eliminating condensation of moisture and reducing the risks of accidents and fire hazards in industries. Additionally, the extensive insulation of boilers, furnaces, heat storage tanks and chimneys in the power industry for maintaining optimum temperature level to augment the efficiency of operations is also contributing to the market growth. Moreover, several product innovations, such as the introduction of mineral wool that exhibit fire-resistant and anti-moisture properties, to meet evolving needs of different applications are propelling the market growth. Apart from this, the increasing product utilization in transportation equipment to offer frost protection during low temperatures, along with their easy availability at affordable prices are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial insulation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, insulation material and end use industry.
Breakup by Product:
Blanket
Board
Pipe
Others
Breakup by Insulation Material:
Mineral Wool
Fiber Glass
Foamed Plastics
Calcium Silicate
Others
Breakup by End Use Industry:
Automotive
Chemical and Petrochemical
Construction
Electrical and Electronics
Oil and Gas
Power Generation
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aspen Aerogels Inc., BASF SE, Bnz Materials Inc., Cabot Corporation, Compagnie de Saint-Gobain S.A, Ibiden Co. Ltd., Johns Manville Corporation (Berkshire Hathaway Inc), Kingspan Group plc, Knauf Insulation, Nichias Corporation, Owens Corning and Rockwool A/S.
Key Questions Answered in This Report:
How has the global industrial insulation market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industrial insulation market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the insulation material?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industrial insulation market and who are the key players?
What is the degree of competition in the industry?
The global industrial insulation market size reached US$ 7.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
Insulation refers to the process of barricading the entry of electricity, heat, and sound in the physical space of the equipment. In industrial spaces, it is extensively employed for maintaining temperature through the help of various components, including storage tanks, boilers, vessels, and pipes. They are usually made of low thermal conductivity materials, such as mineral wool, polyethene, and polystyrene, which aids in reducing energy costs and moisture condensation, mitigating corrosion, decreasing unwanted loss or gain of heat and promoting minimal energy consumption.
Industrial Insulation Market Trends:
The widespread adoption of industrial insulation across automotive, petrochemicals, oil and gas, power generation and electronic sectors can be attributed to the rising need to make manufacturing processes more efficient as it obstructs the heat transfer of the equipment systems and enhances machine performance. This represents the key factor primarily driving the market growth. In line with this, the escalating demand for power generation has prompted governments of various countries to implement stringent regulations to promote the uptake of insulation materials, which is acting as another growth-inducing factor. This, in turn, assists in ensuring energy conservation and process optimization, eliminating condensation of moisture and reducing the risks of accidents and fire hazards in industries. Additionally, the extensive insulation of boilers, furnaces, heat storage tanks and chimneys in the power industry for maintaining optimum temperature level to augment the efficiency of operations is also contributing to the market growth. Moreover, several product innovations, such as the introduction of mineral wool that exhibit fire-resistant and anti-moisture properties, to meet evolving needs of different applications are propelling the market growth. Apart from this, the increasing product utilization in transportation equipment to offer frost protection during low temperatures, along with their easy availability at affordable prices are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial insulation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, insulation material and end use industry.
Breakup by Product:
Blanket
Board
Pipe
Others
Breakup by Insulation Material:
Mineral Wool
Fiber Glass
Foamed Plastics
Calcium Silicate
Others
Breakup by End Use Industry:
Automotive
Chemical and Petrochemical
Construction
Electrical and Electronics
Oil and Gas
Power Generation
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aspen Aerogels Inc., BASF SE, Bnz Materials Inc., Cabot Corporation, Compagnie de Saint-Gobain S.A, Ibiden Co. Ltd., Johns Manville Corporation (Berkshire Hathaway Inc), Kingspan Group plc, Knauf Insulation, Nichias Corporation, Owens Corning and Rockwool A/S.
Key Questions Answered in This Report:
How has the global industrial insulation market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industrial insulation market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the insulation material?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industrial insulation market and who are the key players?
What is the degree of competition in the industry?
Table of Contents
143 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Industrial Insulation Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Product
- 6.1 Blanket
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Board
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Pipe
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Insulation Material
- 7.1 Mineral Wool
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Fiber Glass
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Foamed Plastics
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Calcium Silicate
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Market Breakup by End Use Industry
- 8.1 Automotive
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Chemical and Petrochemical
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Construction
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Electrical and Electronics
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Oil and Gas
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Power Generation
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
- 9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Aspen Aerogels Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 BASF SE
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Bnz Materials Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Cabot Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Compagnie de Saint-Gobain S.A
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Ibiden Co. Ltd.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Johns Manville Corporation (Berkshire Hathaway Inc)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Kingspan Group plc
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Knauf Insulation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Nichias Corporation
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Owens Corning
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 Rockwool A/S
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
Pricing
Currency Rates
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