PUBLISHER: Grand View Research | PRODUCT CODE: 1233152
PUBLISHER: Grand View Research | PRODUCT CODE: 1233152
North America Industrial Insulation Market Size, Share & Trends Analysis Report By Material (Glass Wool, Stone Wool, CMS Fibers), By Product, By End-use, By Country, And Segment Forecasts, 2023 - 2030
North America Industrial Insulation Market Growth & Trends:
The North America industrial insulation market size is expected to reach USD 2.85 billion by 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the rising awareness regarding energy conservation in North America along with increasing demand for energy efficient building materials.
Insulation system provides long-term as well as immediate benefits to the industry, including protection of equipment, personnel, system and budget. In addition, industrial insulation is responsible for enhancing the efficiency of the machinery and process performance in the system, which results in reduction of manufacturing and energy costs.
The acoustic performance of insulation in large-scale factories helps to curb high frequency noises made by machines on the job floor. The application of insulation aids in reducing the capacity and size of new requirement of mechanical equipment. Furthermore, it protects all industrial appliances from fire, prevents the condensation of moisture on the equipment and protects the equipment at extremely low or high temperatures leading to reduced accidental risks.
Manufacturers are striving to provide insulation materials for improving the product life cycle and increasing efficiency of the end products. In addition, the rising awareness regarding the benefits of insulating materials in industrial application and its cost effectiveness is expected to drive the market in North America, over the coming years.
The industrial growth is relatively slow performing and thus can be considered a steady contributor. The industry has witnessed slow but steady growth in majority of the product segments. Insulating materials have been in demand in North America for a long time, and hence the industry is highly price sensitive. The presence of key market players is a major factor, which is likely to support the industry growth in North America.
North America has been dominating the global industrial insulation market over the years, owing to highly developed industrial and power generation sector influencing the demand. U.S. holds the largest market share in North America industrial insulation market, which can be attributed to its extremely advanced industrial sector, which accounts for the largest energy consumption in the region. In addition, stringent regulations regarding the reduction in energy consumption and greenhouse gas emission is expected boost the market growth over the forecast period.
The industry is competitive nature, owing to the presence of large number of major players in the region. Major players, such as Rockwool Technical insulation and Knauf Insulation accounts for majority of market share, due to their vast product portfolio and wider geographical reach. These companies develop a strong business model in order to adapt to the market volatility and any technological & geographical change. The players prefer to maintain strategic relationship with their raw material suppliers in an attempt to maintain a steady supply.
Unlike other regions, the players focus on increasing their market share through organic growth, rather than mergers and acquisitions. Companies in the market are focusing on expanding their product portfolio by developing cost-effective insulating solutions with enhanced properties. Manufacturers are also focusing on expanding their manufacturing capabilities in order to cater to the ascending product demand in the region.
Increasing demand for energy-efficient buildings, owing to the stringent government regulations and rising awareness regarding environmental degradation, is anticipated to fuel the demand for insulation for industrial buildings in North America. Favorable government policies coupled with increasing awareness in consumers is expected to remain the key driving factor for the growth of industrial insulation in North America. Growing awareness related to energy conservation is projected to have a significant impact on the demand for energy efficient buildings is likely to benefit the industry growth over the forecast period.
North America Industrial Insulation Market Report Highlights:
- The U.S accounted for the largest revenue share of 85.5% in 2022 in North America industrial insulation market. The increasing awareness regarding energy conservation and stringent government regulations regarding global warming initiatives and renewable programs is forecasted to drive the demand for industrial insulation in North America.
- On the basis of material, the glass wool segment accounted for the largest revenue share and is expected to grow at a CAGR of 3.4% by 2030 in North America. Glass wool also offers energy efficient thermal and acoustic protection, as well as fire safety. It also helps to reduce energy consumptions and fluctuation in the temperature.
- Based on product, the North America industrial insulation market is dominated by pipe segment. This aids in increasing the energy efficiency of the process or plants, thereby reducing the operating expenses. It also controls and stabilizes the process temperatures, and prevents formation of condensation and limit pipe corrosion.
- The demand for industrial insulation in North America in LNG/LPG transportation & storage industry is forecasted to grow at a CAGR of 3.6% by 2030. This is owing to the increasing market demand for LNG & LPG across countries in North America.
- The Mexico industrial insulation market is forecasted to grow at a significant rate of 4.3% over the coming years on account of growing industrialization in the country.
Table of Contents
Chapter 1. Methodology And Scope
- 1.1. Market Segmentation & Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. Gvr's Internal Database
- 1.3.3. Secondary Sources
- 1.3.4. Third Party Perspective
- 1.3.5. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation And Data Visualization
- 1.6. List Of Data Sources
Chapter 2. Executive Summary
- 2.1. North America Industrial Insulation Market: Market Snapshot
Chapter 3. Market Variables, Trends & Scope
- 3.1. North America Industrial Insulation Market: Value Chain Analysis
- 3.1.1. Raw Material Trends
- 3.1.2. Sales Channel Analysis
- 3.1.3. Price Trend Analysis
- 3.2. North America Industrial Insulation Market: Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Rising Awareness Regarding Energy Conservation And Increasing Energy Costs
- 3.2.1.2. Energy Costs And Sustainability
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Volatile Raw Material Prices
- 3.2.1. Market Driver Analysis
- 3.3. North America Industrial Insulation Market: Porter's Five Forces Analysis
- 3.4. North America Industrial Insulation Market: Pestel Analysis By Swot
- 3.5. Market Disruption Analysis
Chapter 4. North America Industrial Insulation Market: By Material Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Material Market Share Analysis, 2022 & 2030
- 4.3. Market Estimates & Forecasts By Material, 2018 - 2030 (USD Million)
- 4.4. Stone Wool
- 4.4.1. North America Industrial Insulation Market Estimates And Forecasts, By Stone Wool, 2018 - 2030 (Kilotons) (USD Million)
- 4.5. Glass Wool
- 4.5.1. North America Industrial Insulation Market Estimates And Forecasts, By Glass Wool, 2018 - 2030 (Kilotons) (USD Million)
- 4.6. Cms Fibers
- 4.6.1. North America Industrial Insulation Market Estimates And Forecasts, By Cms Fibers, 2018 - 2030 (Kilotons) (USD Million)
- 4.7. Calcium Silicate
- 4.7.1. North America Industrial Insulation Market Estimates And Forecasts, By Calcium Silicate, 2018 - 2030 (Kilotons) (USD Million)
- 4.8. Cellular Glass
- 4.8.1. North America Industrial Insulation Market Estimates And Forecasts, By Cellular Glass, 2018 - 2030 (Kilotons) (USD Million)
- 4.9. Foamed Plastic
- 4.9.1. North America Industrial Insulation Market Estimates And Forecasts, By Foamed Plastic, 2018 - 2030 (Kilotons) (USD Million)
- 4.10. Elastomeric Foam
- 4.10.1. North America Industrial Insulation Market Estimates And Forecasts, By Elastomeric Foam, 2018 - 2030 (Kilotons) (USD Million)
- 4.11. Perlite
- 4.11.1. North America Industrial Insulation Market Estimates And Forecasts, By Perlite, 2018 - 2030 (Kilotons) (USD Million)
- 4.12. Aerogel
- 4.12.1. North America Industrial Insulation Market Estimates And Forecasts, By Aerogel, 2018 - 2030 (Kilotons) (USD Million)
- 4.13. Cellulose
- 4.13.1. North America Industrial Insulation Market Estimates And Forecasts, By Cellulose, 2018 - 2030 (Kilotons) (USD Million)
- 4.14. Micro Silica
- 4.14.1. North America Industrial Insulation Market Estimates And Forecasts, By Micro Silica, 2018 - 2030 (Kilotons) (USD Million)
- 4.15. Others
- 4.15.1. North America Industrial Insulation Market Estimates And Forecasts, By Other Materials, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. North America Industrial Insulation Market: Product Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Product Market Share Analysis, 2022 & 2030
- 5.3. Market Estimates & Forecasts By Product, 2018 - 2030 (USD Million)
- 5.4. Pipe
- 5.4.1. North America Industrial Insulation Market Estimates And Forecasts, For Pipe, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Board
- 5.5.1. North America Industrial Insulation Market Estimates And Forecasts, For Board, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Blanket
- 5.6.1. North America Industrial Insulation Market Estimates And Forecasts, For Blanket, 2018 - 2030 (Kilotons) (USD Million)
- 5.7. Others
- 5.7.1. North America Industrial Insulation Market Estimates And Forecasts, For Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. North America Industrial Insulation Market: End-Use Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. End-Use Market Share Analysis, 2022 & 2030
- 6.3. Market Estimates & Forecasts By End-Use, 2018 - 2030 (USD Million)
- 6.4. Power Generation
- 6.4.1. North America Industrial Insulution Market Estimates And Forecasts In Power Generation, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Petrochemical & Refineries
- 6.5.1. North America Industrial Insulation Market Estimates And Forecasts In Petrochemical & Refineries, 2018 - 2030 (Kilotons) (USD Million)
- 6.6. Eip Industries
- 6.6.1. North America Industrial Insulation Market Estimates And Forecasts In Eip Industries, 2018 - 2030 (Kilotons) (USD Million)
- 6.7. Lng/Lpg
- 6.7.1. North America Industrial Insulation Market Estimates And Forecasts In Lng/Lpg, 2018 - 2030 (Kilotons) (USD Million)
- 6.8. Other Applications
- 6.8.1. North America Industrial Insulation Market Estimates And Forecasts In Other Applications, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. North America Industrial Insulation Market: Regional Estimates & Trend Analysis
- 7.1. Key Takeaways
- 7.2. Regional Market Share Analysis, 2022 & 2030
- 7.3. Market Estimates & Forecasts By Region, 2018 - 2030 (USD Million)
- 7.4. U.S.
- 7.4.1. U.S. Industrial Insulation Market Estimates And Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5. Canada
- 7.5.1. Canada Industrial Insulation Market Estimates And Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6. Mexico
- 7.6.1. Mexico Industrial Insulation Market Estimates And Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8. Competitive Landscape
- 8.1. North America Industrial Insulation Market: Competitive Heat Map Analysis
- 8.2. Key Players' Recent Developments & Their Impact On The Industry
- 8.3. Company/Competition Categorization
- 8.4. Company Market Position Analysis
- 8.5. List Of Key Emerging Companies And Their Geographic Presence
Chapter 9. Market Supplier Intelligence
- 9.1. Kraljic Matrix (Portfolio Analysis)
- 9.2. Engagement Model
- 9.3. Negotiation Strategies
- 9.4. Sourcing Best Practices
- 9.5. Vender Selection Criteria
- 9.6. List Of Raw Material Suppliers
- 9.7. List Of Equipment Suppliers
- 9.8. List Of End-User
Chapter 10. Company Profiles
- 10.1. Rockwool Insulation A/S
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Strategic Initiatives
- 10.2. Knauf Insulation
- 10.2.1. Company Overview
- 10.2.2. Product Benchmarking
- 10.2.3. Strategic Initiatives
- 10.3. Nichias Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.4. Anco Products, Inc.
- 10.4.1. Company Overview
- 10.4.2. Product Benchmarking
- 10.5. Aspen Aerogels, Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Strategic Initiatives
- 10.6. Cabot Corporation
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.7. Morgan Advanced Materials Plc
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Strategic Initiatives
- 10.8. Unifrax Llc
- 10.8.1. Company Overview
- 10.8.2. Product Benchmarking
- 10.9. Rath Group
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.10. Armacell International Holding Gmbh
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.11. L'isolante K-Flex S.P.A.
- 10.11.1. Company Overview
- 10.11.2. Product Benchmarking
- 10.12. Kaimann
- 10.12.1. Company Overview
- 10.12.2. Product Benchmarking
- 10.13. Pittsburgh Corning Europe N.V.
- 10.13.1. Company Overview
- 10.13.2. Product Benchmarking
- 10.13.3. Strategic Initiatives
- 10.14. Duna-Corradini S.P.A.
- 10.14.1. Company Overview
- 10.14.2. Product Benchmarking
- 10.15. Polyguard Products, Inc.
- 10.15.1. Company Overview
- 10.15.2. Product Benchmarking
- 10.15.3. Strategic Initiatives
List of Tables
- Table 1 North America industrial insulation market estimates and forecasts, by material, 2018 - 2030 (Kilotons)
- Table 2 North America industrial insulation market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 3 North America industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 4 North America industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 4 North America industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 6 North America industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 7 U.S. industrial insulation market estimates and forecasts, by material, 2018 - 2030 (Kilotons)
- Table 8 U.S. industrial insulation market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 9 U.S. industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 10 U.S. industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 11 U.S. industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 12 U.S. industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 13 Canada industrial insulation market estimates and forecasts, by material, 2018 - 2030 (Kilotons)
- Table 14 Canada industrial insulation market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 15 Canada industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 16 Canada industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 17 Canada industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 18 Canada industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 19 Mexico industrial insulation market estimates and forecasts, by material, 2018 - 2030 (Kilotons)
- Table 20 Mexico industrial insulation market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 21 Mexico industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- Table 22 Mexico industrial insulation market volume estimates and forecasts, by product, 2018 - 2030 (USD Million)
- Table 23 Mexico industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (Kilotons)
- Table 24 Mexico industrial insulation market volume estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 North America industrial insulation market: Market Snapshot
- Fig. 2 North America industrial insulation market: Market Segmentation
- Fig. 3 North America industrial insulation market: Value chain analysis
- Fig. 4 North America Industrial Insulation Market: Market Dynamics
- Fig. 5 Market Driver Analysis
- Fig. 6 Average Price of Electricity to Ultimate Customers in Industrial sector by state in the U.S.(Cents/kWh)
- Fig. 7 Market Restraint Analysis
- Fig. 8 Crude oil prices, 2008 - 2018 (USD/barrel)
- Fig. 9 North America industrial insulation market: Porter's five forces analysis
- Fig. 10 North America industrial insulation market: PESTEL analysis
- Fig 11 Material Market Share Analysis, 2022 & 2030
- Fig 12 Product Market Share Analysis, 2022 & 2030
- Fig 13 End-Use Market Share Analysis, 2022 & 2030
- Fig 14 Regional Market Share Analysis, 2022 & 2030
