Global Industrial Insulation Market Size, Share, Growth Analysis, By Material Type(Fiberglass, mineral wool), By Application(Oil and gas, power generation)

Description

Global Industrial Insulation Market size was valued at USD 7.92 billion in 2021 and is poised to grow from USD 8.38 billion in 2022 to USD 13.16 billion by 2030, at a CAGR of 5.8% during the forecast period (2023-2030).

The Global Industrial Insulation Market encompasses the provision of insulating materials and solutions for various industries to enhance energy efficiency and safety. This market is driven by the growing emphasis on sustainable practices, stringent regulations, and the need to reduce energy consumption. Key sectors include manufacturing, oil and gas, and construction. Factors such as technological advancements, rising awareness about energy conservation, and demand for eco-friendly materials are influencing market growth. The market's expansion is expected to continue due to increasing industrialization and ongoing efforts to mitigate heat loss and emissions.

Top-down and bottom-up approaches were used to estimate and validate the size of industrial insulation and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Drivers

Energy Conservation Guidelines

The escalating emphasis on energy conservation and ecological responsibility stands as a significant impetus behind the expansion of the industrial insulation sector. Governments and authoritative organizations globally are enforcing rigorous directives aimed at curbing energy usage and diminishing emissions of greenhouse gases. Within industrial operations, insulation holds a pivotal position in curtailing heat transfer and amplifying energy efficiency. To illustrate, the Energy Performance of Buildings Directive (EPBD) formulated by the European Union necessitates the adoption of insulating materials to enhance energy efficacy in both edifices and industrial establishments.

Restraints

Significant Initial Expenses

A key factor constraining the industrial insulation market pertains to the substantial initial expenses linked with both insulation materials and their installation. Specialized materials and techniques are often necessary for effective industrial insulation, contributing to the overall cost. This upfront financial commitment might discourage certain industrial property owners from adopting insulation practices. Nonetheless, it's crucial to recognize that the enduring energy conservation and operational advantages facilitated by insulation can surpass the preliminary expenditures.

Market Trends

The industrial sector is witnessing an increasing need for insulation materials that can withstand fire. The demand is propelled by stringent fire safety regulations and the imperative to safeguard industrial establishments against fire-related risks. This is fostering the uptake of insulation solutions with fire-resistant properties. For instance, within the oil and gas sector, characterized by elevated fire vulnerabilities, the incorporation of fire-resistant insulation options like mineral wool and calcium silicate is indispensable to heighten overall safety levels.

Product Code: SQMIG15E2196

Executive Summary

Market Overview
Wheel of Fortune
Research Methodology
Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Key Market Insights
Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition
Market Dynamics & Outlook
Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Regulatory Landscape
Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
Political Impact
Economic Impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact
Global Industrial Insulation Market by Material Type
Market Overview
Fiberglass
mineral wool
polyurethane foam
cellulose
and others

Global Industrial Insulation Market by Application

Market Overview
Oil and gas
power generation
chemical processing
automotive
construction
and others
Global Industrial Insulation Market Size by Region
Market Overview
North America
USA
Canada
Europe
Germany
Spain
France
UK
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Competitive Landscape
Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
By Development
By Company
By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021
Key Company Profiles
3M Company (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Owens Corning (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Rockwool International A/S (Denmark)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Knauf Insulation (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Saint-Gobain S.A. (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Armacell International S.A. (Luxembourg)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Kingspan Group plc (Ireland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Huntsman Corporation (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Recticel N.V. (Belgium)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Aspen Aerogels Inc. (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Paroc Group Oy (Finland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Johns Manville Corporation (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Nichias Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Izocam Ticaret ve Sanayi A.S. (Turkey)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Thermax Limited (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
NMC SA (Luxembourg)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
L'ISOLANTE K-FLEX S.p.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GAF Materials Corporation (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Unifrax I LLC (US)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Superglass Insulation Ltd. (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments

Global Industrial Insulation Market Size, Share, Growth Analysis, By Material Type(Fiberglass, mineral wool), By Application(Oil and gas, power generation) - Industry Forecast 2023-2030