Market Research Report
Industrial Insulation Market Size, Share & Trends Analysis Report By Raw Material (Stone Wool, Glass Wool) Product (Pipe, Board, Blanket), By Application, By Region, And Segment Forecasts, 2020 - 2027
|Industrial Insulation Market Size, Share & Trends Analysis Report By Raw Material (Stone Wool, Glass Wool) Product (Pipe, Board, Blanket), By Application, By Region, And Segment Forecasts, 2020 - 2027|
Published: February 13, 2020
Grand View Research, Inc.
Content info: 240 Pages
Delivery time: 2-10 business days
The global industrial insulation market size is expected to reach USD 10.79 billion by 2027, expanding at a CAGR of 5.1% over the forecast period, according to a new report published by Grand View Research, Inc. Benefits of insulation systems, such as equipment protection and increased system efficiency are anticipated to drive the demand.
Insulation protects industrial appliances from fire hazards, prevents the condensation of moisture on the equipment, and protects the equipment at extremely low or high temperatures leading to reduced accidental risks. In addition, it also helps in lowering the manufacturing and energy cost leading to an increased adoption of industrial insulation.
Fluctuations in the crude oil prices are anticipated to result in uncertainty in the prices of the raw materials derived from petrochemicals, which increases the bargaining power of the suppliers. The volatile raw material prices are anticipated to restrict the market growth in the forthcoming years.
The market exhibits a degree of integration, where raw material suppliers such as Knauf Insulation and Armacell LLC are trying to integrate for manufacturing insulation materials. In addition, market players such as Rockwool Technical insulation, Paroc Group, and Knauf Gips KG have created a wide range of product portfolio to gain higher market share.