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Industrial Insulation Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Industrial Insulation Market
1. Global Industrial Insulation Market – Overview
The global industrial insulation market is expected to grow at a CAGR of around 6% during the forecast period of 2020-2025. The major factors driving the growth of the market are the increasing demand for energy-efficient buildings and the need for process optimization in various end-use industries.

The industrial insulation market is segmented by material type, by end-use industry, and by geography. The material type segment is further classified into fiberglass, rock wool, cellulose, and others. The end-use industry segment is further classified into oil & gas, power generation, chemicals & petrochemicals, food & beverage, pharmaceuticals, HVAC, and others.

The Asia-Pacific region is expected to be the largest market for industrial insulation, due to the growing construction sector in the region. The oil & gas and power generation industries are the major end-use industries for industrial insulation.

Some of the key players in the industrial insulation market are Owens Corning, Kingspan Group, John Manville, Knauf Insulation, Armacell International, Saint-Gobain, and Rockwool International.

2. Global Industrial Insulation Market – Drivers
The industrial insulation market is projected to grow at a CAGR of 4.8% between 2019 and 2024. The key drivers for this market are the growing demand for energy-efficient buildings and the need for improved safety and hygiene in the food & beverage industry.

1) The growing demand for energy-efficient buildings:

The building sector is one of the largest consumers of energy, accounting for approximately 40% of the total global energy consumption. In order to reduce the carbon footprint and save on energy costs, various governments across the globe are introducing stringent energy-efficiency regulations. These regulations are mandating the use of energy-efficient building materials, which is driving the demand for industrial insulation.

2) The need for improved safety and hygiene in the food & beverage industry:

The food & beverage industry is one of the most regulated industries in the world. In order to ensure the safety and hygiene of food products, various governments have introduced stringent regulations. These regulations mandate the use of insulation in food & beverage processing plants, in order to maintain the required temperature and prevent the growth of bacteria.

3. Global Industrial Insulation Market – Restraints
The global industrial insulation market is growing at a rapid pace, driven by the expansion of various end-use industries such as construction, petrochemical, and oil & gas. However, the market faces certain restraints that are hampering its growth. Some of these restraints are listed below:

1. High Installation Costs: The installation cost of industrial insulation is quite high, as it requires specialized equipment and trained personnel. This is a major factor restraining the growth of the global industrial insulation market.

2. Stringent Government Regulations: The industrial insulation market is subject to stringent government regulations regarding the use of certain materials and chemicals. This is another key factor hampering market growth.

3. Fluctuations in Raw Material Prices: The prices of raw materials used in the production of industrial insulation are subject to fluctuation, which is another major restraint on market growth.

4. Slowdown in Global Economic Growth: The global economic slowdown has had a negative impact on the growth of the industrial insulation market, as many end-use industries have been adversely affected.

Despite the restraints mentioned above, the global industrial insulation market is expected to continue growing at a healthy pace, driven by the expansion of various end-use industries.

4. Global Industrial Insulation Market – Opportunities
1. The global industrial insulation market is expected to grow at a CAGR of 4.5% from 2019 to 2024.

2. The market is driven by the increasing demand for energy efficiency and the need for thermal management in industries.

3. The market is segmented by material, by applications, and by geography.

4. The major players in the market are Johns Manville, Knauf Insulation, Owens Corning, and Rockwool International.

The global industrial insulation market is expected to grow at a CAGR of 4.5% from 2019 to 2024. The market is driven by the increasing demand for energy efficiency and the need for thermal management in industries. The market is segmented by material, by applications, and by geography.

The major players in the market are Johns Manville, Knauf Insulation, Owens Corning, and Rockwool International. These companies have a strong presence in the market and are well-positioned to capitalize on the opportunities in the market.

The market for industrial insulation is expected to grow owing to the increasing demand for energy efficiency and the need for thermal management in industries. The market is segmented by material, by applications, and by geography.

The major players in the market are Johns Manville, Knauf Insulation, Owens Corning, and Rockwool International. These companies have a strong presence in the market and are well-positioned to capitalize on the opportunities in the market.

The market for industrial insulation is expected to grow owing to the increasing demand for energy efficiency and the need for thermal management in industries. The market is segmented by material, by applications, and by geography.

The major players in the market are Johns Manville, Knauf Insulation, Owens Corning, and Rockwool International. These companies have a strong presence in the market and are well-positioned to capitalize on the opportunities in the market.

5. Global Industrial Insulation Market – Key Players
The industrial insulation market is currently being led by five key players. These companies are Johns Manville, Owens Corning, ROCKWOOL, Knauf Insulation, and Armacell. Together, they hold a significant share of the overall market and are expected to continue to do so in the coming years.

Johns Manville is a leading manufacturer of insulation products and solutions for a variety of industries. The company’s products are used in commercial, industrial, and residential applications. Johns Manville has a strong presence in North America, Europe, and Asia Pacific.

Owens Corning is another leading player in the industrial insulation market. The company’s products are used in a variety of applications, including HVAC, refrigeration, and construction. Owens Corning has a strong presence in North America, Europe, Asia Pacific, and South America.

ROCKWOOL is a leading provider of insulation products and solutions for the construction, industrial, and marine industries. The company has a strong presence in Europe, North America, Asia Pacific, and South America.

Knauf Insulation is a leading manufacturer of insulation products for the construction, industrial, and commercial markets. The company has a strong presence in Europe, North America, Asia Pacific, and South America.

Armacell is a leading manufacturer of insulation products for the industrial and commercial markets. The company has a strong presence in Europe, North America, Asia Pacific, and South America.

6. Global Industrial Insulation Market – Future Outlook
The future of the global industrial insulation market looks promising with opportunities in the oil and gas, power generation, and construction industries. The industrial insulation market is expected to grow from an estimated USD 11.8 billion in 2020 to USD 14.8 billion by 2025, at a CAGR of 4.5% during the forecast period. The major drivers for the market include the need for energy efficiency, growing demand for thermal insulation in the construction industry, and the increasing use of industrial insulation in the oil & gas industry.

Emerging trends, which have a direct impact on the dynamics of the industrial insulation market, include the development of innovative insulation materials and the use of nanotechnology in insulation materials.

Some of the key players operating in the industrial insulation market include Owens Corning (US), Johns Manville (US), Armacell International (Luxembourg), Knauf Insulation (Germany), Kingspan Group (Ireland), Rockwool International (Denmark), CSM Group (Netherlands), Isover Saint-Gobain (France), and Super Glass Holdings (US).

Owens Corning is one of the largest manufacturers of insulation products and solutions. The company’s product portfolio includes fiberglass, stone wool, and rigid foam insulation products for a wide range of applications in the commercial, residential, and industrial end-use sectors. The company has a strong presence in North America, Europe, Asia Pacific, and South America. In 2019, Owens Corning acquired Paroc Group, a leading European provider of stone wool insulation solutions. The acquisition strengthened Owens Corning’s position in the European market and expanded its product portfolio.

Johns Manville is a leading manufacturer of insulation products and solutions. The company’s product portfolio includes fiberglass, stone wool, and rigid foam insulation products for a wide range of applications in the commercial, residential, and industrial end-use sectors. The company has a strong presence in North America, Europe, Asia Pacific, and South America. In 2019, Johns Manville acquired Paroc Group, a leading European provider of stone wool insulation solutions. The acquisition strengthened Johns Manville’s position

7. Global Industrial Insulation Market – Analyst Recommendations
7 Global Industrial Insulation Market Analyst Recommendations

The global industrial insulation market is expected to reach USD 13.85 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 6.0% over the forecast period. Increasing demand for insulation in the construction industry, owing to its energy-saving properties, is expected to drive the market growth over the forecast period.

In addition, the market is also driven by the growing demand for insulation in the oil & gas industry. The oil & gas industry is one of the largest consumers of energy, and hence, the demand for insulation in this sector is expected to grow at a rapid pace. Moreover, the rapidly growing automotive industry in Asia Pacific is also expected to fuel the market growth over the forecast period.

The market is segmented on the basis of product, application, and region. On the basis of product, the market is segmented into fiberglass, rock wool, cellulose, polystyrene, and others. On the basis of application, the market is segmented into building & construction, oil & gas, automotive, power generation, and others. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Some of the key players operating in the market are Johns Manville, Owens Corning, Knauf Insulation, Armacell International S.A., Kingspan Group plc., Paroc Group Oy, Roxul Inc., and Saint-Gobain Weber SA. These players are focused on expanding their product portfolio and geographical reach to gain a competitive edge in the market.

Key Players Covered:

The global Industrial Insulation Market is highly fragmented with the presence of number of global giants and regional manufacturers. Some of the prominent players include- Johns Manville, Rolan, American Rockwool Manufacturing, LLC, Saint Gobain, Hollingsworth & Vose Company, Knauf Insulation, Rock Wool Manufacturing Company, Owens Corning, USG Corporation, Armacell, Kingspan Group, Cabot Corporation and others.

Segmentation

 

 ATTRIBUTE

 

 DETAILS
 

By Type

 

 

    • Fiberglass
    • Rockwool
    • Calcium silicate
    • Plastic foams (polystyrene -closed cell, polyisocyanurate and elastomeric)
    • Others (expanded vermiculite, perlite, cellulose, diatomaceous earth and expanded polystyrene)
 

By Form

 

 

    • Pipe Insulation (Grannular, Fibres & pre-shaped)
    • Board & Blanket
    • Others
 

By End-Use Industry

 

 

    • Power Genaration
    • Refinery
    • Chemicals & Petrochemicals
    • Fire Protection
    • Others
 

By Geography

 

 

    • North America (U.S., and Canada)
    • Latin America (Mexico, Brazil, and Rest of South America)
    • Europe (Germany, UK, France, Italy, Russia, and Rest of Europe)
    • Asia Pacific (China, India, Japan, South Korea and Rest of Asia Pacific)
    • Middle East & Africa (Saudi Arabia, UAE, and Rest of Middle East & Africa)
 

By Type

 

 

    • Fiberglass
    • Rockwool
    • Calcium silicate
    • Plastic foams (polystyrene -closed cell, polyisocyanurate and elastomeric)
    • Others (expanded vermiculite, perlite, cellulose, diatomaceous earth and expanded polystyrene)
 

By Form

 

 

    • Pipe Insulation (Grannular, Fibres & pre-shaped)
    • Board & Blanket
    • Others
 

By End-Use Industry

 

 

    • Power Genaration
    • Refinery
    • Chemicals & Petrochemicals
    • Fire Protection
    • Others

Johns Manville, Rolan, American Rockwool Manufacturing, LLC, Saint Gobain, Hollingsworth & Vose Company, Knauf Insulation, Rock Wool Manufacturing Company, Owens Corning, USG Corporation, Armacell, Kingspan Group, Cabot Corporation and others.

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