As per this study the Global Industrial Insulation Market was valued USD 9.21 BN (by revenue) in 2022 and is anticipated to reach USD 14.68 BN by 2030 with a CAGR of 6%. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Industrial insulation is specially designed to protect personnel and substrates during industrial storage and manufacturing processes. It is done with the help of wraps/sheets, coatings, and adhesives & sealants. These are manufactured from stone wool, glass wool, cms fibers, calcium silicate, cellular glass, foamed plastic, elastomeric foam, perlite, aerogel, and micro silica. Additionally, industrial insulation can be safely applied to working machinery and hard-to-reach substrates. Several benefits of industrial insulation include lower energy cost, improve facility safety, limit moisture damage and increased equipment efficiency.
Market Dynamics
The expanding manufacturing sector owing to increasing public and private investment in various industries is driving the market growth. Additionally, the advent of regulations for minimizing energy consumption and maximizing energy efficiency in industrial processes is further fuelling market growth. On the other hand, high cost associated with insulation in some industrial sector may restrict market growth. Whereas, growing industrialization in emerging economies is expected to create potential opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of industrial insulation.
Market Segmentation
The broad industrial insulation market has been sub-grouped into product, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Material
- Stone Wool
- Elastomeric Foam
- Micro Silica
- Glass Wool
- Composites
- CMS Fibers
- Calcium Silicate
- Cellular Glass
- Foamed Plastic
- Perlite
- Aerogel
- Cellulose
- Others
By Product
- Pipe
- Board
- Blanket
- Others
By Application
- Power Generation
- Petrochemical & Refineries
- EIP Industries
- LNG/LPG
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for industrial insulation in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Industrial Insulation Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Industrial Insulation market include Rockwool Insulation A/S, Paroc Group Oy, Knauf Insulation, TechnoNICOL Corporation, NICHIAS Corporation, Anco Products, Inc., Aspen aerogels Inc., Cabot Corporation, Morgan Advanced Materials plc, Unifrax LLC, RATH Group, IBIDEN CO. LTD., Armacell International Holding GmbH, L'ISOLANTE K-FLEX S.p.A., NMC Insulation, Kaimann, Pittsburgh Corning Europe N.V. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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