Industrial Insulation Market Segmentation by Material Type (Mineral Wool, Ceramic Fiber, Calcium Silicate, and Others); by Function (Electrical, Thermal, and Others); by Foam (Pipe, Blanket, Board, and Others); by End User Industry (Cement, Oil, Gas, and Others)-Global Demand Analysis & Opportunity Outlook 2031

Global Industrial Insulation Market Highlights Over 2022 – 2031

The global industrial insulation market garnered revenue of approximately USD 2,400 million by the end of 2021. The market is anticipated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to strict regulations by the government that mandates industrial insulation for energy conservation purposes. Various industrial operating standards are established by agencies such as the United States Department of Energy, the American Society of Mechanical Engineers (ASME), the American Society for Testing and Materials (ASTM), the European Environmental Bureau, the European Commission, and others that require industries to insulate their premises. Additionally, industrial insulation makes the production process more effective by improving the performance of machines by eliminating heat transfer which is expected to contribute towards market growth in the upcoming years. Industrial insulators terminate the need for a heating system as well as reduce the cost of industrial operations which is anticipated to further propel the growth of the market.

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Insulation is a green choice for industries as it helps in environment protection by reducing heat transfer and energy loss. Moreover, industrial insulation also provides safety to the employees working in the industry by balancing the temperature and minimizing burns and damages that may occur while working on metal equipment. Industrial insulators act as a barrier to harsh sounds generated by machines that negatively affect the workers. Thus, industrial insulation carries great importance in industrial operations. However, huge installation expenditure and frequent fluctuations in the cost of raw materials that are used to make insulators are expected to adversely affect the growth of the market.

The global industrial insulation market is segmented on the basis of material type into mineral wood, ceramic fiber, calcium silicate, and others out of which the mineral wool segment is estimated to hold the largest share of the market over the forecast period. Mineral wool has high thermal conductivity and is non-flammable, as well as it can be recycled completely. Besides this, these wools also have a broad range of other industrial applications, which is expected to contribute towards the market growth during the forecast period.

Global Industrial Insulation Market Regional Synopsis

Regionally, the global industrial insulation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of rising industrialization and urbanization that is expected to give impetus to the demand for the product. Furthermore, energy-saving measures and environmental factors are also expected to uplift the market growth. In addition to this, the transformation in the U.S. energy and utility sector is also expected to give rise to an environmentally friendly way of production methods and in turn, drive the growth of the market in the coming years.

Market Segmentation

Our in-depth analysis of the global industrial insulation market includes the following segments: 

By Material Type

• Material Wood

• Ceramic Fiber

• Calcium Silicate

• Polyurethane

• Polyethylene

• Polystyrene

• Polyvinyl Chloride

• Cellular Glass

• Others

By Function

• Electric

• Thermal

• Acoustic

• Corrosion

• Others

By Foam

• Pipe

• Blanket

• Board

• Others

By End User Industry

• Cement

• Oil

• Gas

• Automotive

• Power

• Construction

• Chemical and Petrochemical

• Utility

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Industrial Insulation Market

Growth Drivers  

• Growing need for cost and energy saving in industries

• Rapid industrialization and economic progress

Challenges 

• Huge installation cost

• Fluctuations in the prices of raw materials used in the making of insulators 

Key Companies Dominating the Global Industrial Insulation Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global industrial insulation market that are included in our report are ABB, W.S. Industries, Aditya Birla Insulators, Bharat Heavy Electricals Limited, Knauf Insulation, Kingspan Group, Cabot Corporation, Armacell, Etex NV, Recticel Insulation, and others.   

Latest Developments in the Global Industrial InsulationMarket:

• December 2021: Saint-Gobain, a key player in industrial insulation market, has entered into an agreement with Alghanim Industries to acquire its prominent subsidiary Rockwool India Pvt Ltd with 100% stakes. The objective of Saint-Gobain is to create a hold and presence of its position in the Asia region, majorly in the Indian subcontinent.

• November 2020: Etex NV has joined hands with Knauf to acquire its plasterboard pipeline in Australia. The acquisition is aimed at strengthening the plasterboard business. The company has a motive to provide sustainable as well as cost-efficient plasterboards to the consumers.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments. 

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth. 

• The report includes detailed company profiles of the major players dominating the market. 

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth. 

• We provide customized reports as per the clients’ requirements helping them to see possible and unexpected challengesand unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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