Industrial Insulation Market Expected to Show a Significant Growth During the Forecast Period 2022 – 2030

 Industrial Insulation Industry Overview

The global industrial insulation market size was estimated at USD 7.82 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.0%.

Increasing product demand for boosting process efficiency, condensation control, noise reduction, freeze protection, and reducing environmental pollution is expected to drive market growth during the forecast period. However, the industry witnessed a severe downfall in the investments in the industrial sector, owing to the pandemic, thereby impacting the market. In addition, a dramatic fall in crude oil prices led to a drop in fiscal resources for oil-producing countries, which affected the product demand from the oil & gas sector.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Insulation Market

The market in the U.S. is expected to witness increased demand for insulation for industrial applications, such as machinery, boilers, pipes, and storage tanks, and in linings of heat exchangers, cooling towers, and ventilation & air conditioning systems, among others. To better serve their customers with customized products and increase their profit margins, most manufacturers turn to independent distribution. Manufacturers also establish a strategic relationship with distributors and provide solutions to the end-users through direct or third-party distribution.

The buyers in the market are essentially medium to large-scale businesses that exhibit limited sensitivity to the price of the product and lay higher emphasis on the product quality and the degree of insulation provided by the materials. In addition, key consumer industries have also exhibited a trend of adoption of advanced products, which, in turn, is expected to drive the demand for a niche products such as aerogel and perlite.

The market exhibits high entry barriers, owing to the presence of a large number of players. In addition, the capital-intensive nature of the market ensures the requirement of a substantial amount of time, planning, and resources for entry and sustenance. Achieving economies of scale remains the top priority in the market, which may discourage new market entrants.

Major industry participants are developing novel manufacturing processes for products to enhance their properties and make them suitable for several applications. Continuous investments in the R&D process by the companies for new product development and improvement in transparent technology for thermal insulation are expected to benefit the market.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

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Industrial Insulation Market Segmentation

Grand View Research has segmented the industrial insulation market based on material, product, application, and region:

  • Material Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • Stone Wool
    • Glass Wool
    • CMS Fibers
    • Calcium Silicate
    • Cellular Glass
    • Foamed Plastic
    • Elastomeric Foam
    • Perlite
    • Aerogel
    • Cellulose
    • Micro Silica
    • Others
  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • Pipe
    • Board
    • Blanket
    • Others
  • Application Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)
    • Power Generation
    • Petrochemical & Refineries
    • EIP Industries
    • LNG/LPG
    • Others
  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Industrial Insulation market include

  • Rockwool Insulation A/S
  • Poroc Group Oy
  • Knauf Insulation
  • TechnoNICOL Corporation
  • Anco Products, Inc.
  • Aspen Aerogels, Inc.
  • Cabot Corporation
  • Morgan Advanced Materials plc
  • Unifrax LLC
  • RATH Group
  • IBIDEN Co., Ltd.
  • Armacell International

Order a free sample PDF of the Industrial Insulation Market Intelligence Study, published by Grand View Research.

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