Global Industrial Insulation Market

Industrial Insulation Market by Materials (Fiber Glass, Mineral Wool, Calcium Silicate, Foamed Plastics, and Others), Products (Pipe, Blanket, Board, and Others), End-user Industries (Power Generation, Automotive, Oil & Gas, Construction, Chemical & Petrochemical, Electrical & Electronics, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: CM-4376
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 166
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The global industrial insulation market size was valued at around USD 7.82 billion in 2021 and is projected to reach USD 12.10 billion by 2030, expanding at a CAGR of around 5% during the forecast period, 2022 – 2030. The growth of the market is attributed to the increasing demand for power generation and rising construction industries.


Global Industrial Insulation Market Outlook

Industrial insulation refers to materials employed between two surfaces, which block the transmission of heat, moisture, electricity, sound, or shock between the two insulated surfaces. Insulations facilitate process control those aid in stabilizing temperatures and allow any chemical reactions to proceed safely. Industrial insulations conserve energy by controlling thermal energy. Insulations are used for freeze protection in cold and freezing climates. These insulations are used to control and manage industrial carbon emissions. Industrial insulations are used to protect industry workforces from burn hazards.

The COVID-19 pandemic affected several industrial sectors negatively. For example, the global outbreak of the COVID-19 pandemic and the lockdown across the globe resulted in a massive decline in demand for oil and gas. It forced several major oil refiners to shut down their operations. It led to a drop in global production of natural gas by 3.6% in 2020. The decline in demand for the oil & gas industry affected negatively to the demand for industrial insulation

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for power and energy is expected to drive the market during the forecast period.
  • Abundance of raw materials used in industrial insulation products boosts the market.
  • Increasing awareness regarding the negative effects of pollution is estimated to spur the market.
  • Rising awareness regarding the benefits of industrial insulation such as noise reduction, process efficiency, condensation control, and others fuel the market.
  • Health and environmental hazards regarding insulation wool are anticipated to hamper the growth of the market in the coming years.
  • Lack of skilled workforce and high installation cost hinders the growth of the market.
  • Increasing investment in industrial infrastructure and activities offer growth opportunities to the market players.

Scope of the Report

The report on the global industrial insulation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Industrial Insulation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Materials (Fiber Glass, Mineral Wool, Calcium Silicate, Foamed Plastics, and Others), Products (Pipe, Blanket, Board, and Others), and End-user Industries (Power Generation, Automotive, Oil & Gas, Construction, Chemical & Petrochemical, Electrical & Electronics, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ROCKWOOL A/S; Owens Corning; Grindwell Norton Ltd.; Knauf Insulation; Solvay S.A.; BASF SE; Compagnie de Saint-Gobain S.A.; Kingspan Group PLC; Armacell; NICHIAS Corporation; Insulcon BV; Thomas Insulation Corporation; Samhwa Chemical Co., Ltd.; STI Co., Ltd.; Etex Group; and Others

Market Segment Insights

Mineral wool segment holds a significant market share

On the basis of materials, the market is divided into fiber glass, mineral wool, calcium silicate, foamed plastics, and others. The mineral wool segment is estimated to account for a large market share during the forecast period, as mineral wool is moisture-resistant, heat-resistant, and made from recycled materials. These factors aid in the expansion of the segment. The calcium silicate segment is estimated to register a high demand, due to the increasing use of calcium sulfate in high-temperature piping and industrial-grade equipment.


Global Industrial Insulation Market by Materials

Pipe segment expands rapidly

In terms of products, the market is segregated into pipe, blanket, board, and others. The pipe segment is anticipated to hold a key market share during the forecast period, as pipes are widely used in several industries such as petrochemical, food & beverages, metal processing, oil & gas, power, and others. Insulated pipes aid in reducing energy loss and managing energy costs, which facilitate in the expansion of the pipe segment.


Global Industrial Insulation Market by Products

Power generation segment holds a key market share

Based on end-user industries, the market is divided into power generation, automotive, oil & gas, construction, chemical & petrochemical, electrical & electronics, and others. The power generation segment is estimated to expand during the forecast period, as stringent regulations in countries such as India, China, Brazil, and others regarding the use of industrial insulation to conserve energy. Growing urbanization and industrialization are boosting the power generation segment.

Asia Pacific dominates the market

In terms of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to register a high CAGR during the forecast period, owing to the growing power generation and construction industries in the region. Strong economic growth, rising infrastructural spending, increasing awareness regarding energy conservation, and growing investment in the renewable energy sector in countries such as India, Japan, China, and Indonesia are some of the key factors driving the market in Asia Pacific. The market in North America is anticipated to expand at a rapid pace in the coming years, due to rapid urbanization and industrialization in the region.


Global Industrial Insulation Market by Regions

Segments

The global industrial insulation market has been segmented on the basis of

Materials
  • Fiber Glass
  • Mineral Wool
  • Calcium Silicate
  • Foamed Plastics
  • Others
Products
  • Pipe
  • Blanket
  • Board
  • Others
End-user Industries
  • Power Generation
  • Automotive
  • Oil & Gas
  • Construction
  • Chemical & Petrochemical
  • Electrical & Electronics
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ROCKWOOL A/S
  • Owens Corning
  • Grindwell Norton Ltd.
  • Knauf Insulation
  • Solvay S.A.
  • BASF SE
  • Compagnie de Saint-Gobain S.A.
  • Kingspan Group PLC
  • Armacell
  • NICHIAS Corporation
  • Insulcon BV
  • Thomas Insulation Corporation
  • Samhwa Chemical Co., Ltd.
  • STI Co., Ltd.
  • Etex Group
  • Others

Competitive Landscape

The global industrial insulation market is consolidated with the presence of key players such as ROCKWOOL A/S; Owens Corning; Grindwell Norton Ltd.; Knauf Insulation; Solvay S.A.; BASF SE; Compagnie de Saint-Gobain S.A.; Kingspan Group PLC; Armacell; NICHIAS Corporation; Insulcon BV; Thomas Insulation Corporation; Samhwa Chemical Co., Ltd.; STI Co., Ltd.; Etex Group; and others. These key players use business strategies such as mergers, collaborations, acquisitions, partnerships, and product launches to dominate the market. For example, in August 2020, Owens Corning, a US-based manufacturer of insulation, fiberglass, and roofing, announced a new product line, FOAMULAR NGX (Next Generation Extruded), which is produced with an exclusive blowing agent that meets stringent regulatory standards without sacrificing the quality of products. In June 2022, Grindwell Norton Ltd., an India-based manufacturer of industrial abrasives, acquired PRS Permacel Pvt., Ltd., a manufacturer of industrial insulation, which facilitates the integration of the Composite Systems business unit of Grindwell Norton.

Global Industrial Insulation Market by Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Insulation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Industrial Insulation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Industrial Insulation Market - Supply Chain
  4.5. Global Industrial Insulation Market Forecast
     4.5.1. Industrial Insulation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Industrial Insulation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Industrial Insulation Market Absolute $ Opportunity
5. Global Industrial Insulation Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Industrial Insulation Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Industrial Insulation Demand Share Forecast, 2019-2026
6. North America Industrial Insulation Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Industrial Insulation Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Industrial Insulation Demand Share Forecast, 2019-2026
7. Latin America Industrial Insulation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Industrial Insulation Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Industrial Insulation Demand Share Forecast, 2019-2026
8. Europe Industrial Insulation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Industrial Insulation Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Industrial Insulation Demand Share Forecast, 2019-2026
9. Asia Pacific Industrial Insulation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Industrial Insulation Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Industrial Insulation Demand Share Forecast, 2019-2026
10. Middle East & Africa Industrial Insulation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Industrial Insulation Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Industrial Insulation Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Industrial Insulation Market: Market Share Analysis
  11.2. Industrial Insulation Distributors and Customers
  11.3. Industrial Insulation Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ROCKWOOL A/S
     11.4.2. Owens Corning
     11.4.3. Grindwell Norton Ltd.
     11.4.4. Knauf Insulation
     11.4.5. Solvay S.A.
     11.4.6. BASF SE
     11.4.7. Compagnie de Saint-Gobain S.A.
     11.4.8. Kingspan Group PLC
     11.4.9. Armacell
     11.4.10. NICHIAS Corporation
     11.4.11. Insulcon BV
The global industrial insulation market has been segmented on the basis of

Materials
  • Fiber Glass
  • Mineral Wool
  • Calcium Silicate
  • Foamed Plastics
  • Others
Products
  • Pipe
  • Blanket
  • Board
  • Others
End-user Industries
  • Power Generation
  • Automotive
  • Oil & Gas
  • Construction
  • Chemical & Petrochemical
  • Electrical & Electronics
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ROCKWOOL A/S
  • Owens Corning
  • Grindwell Norton Ltd.
  • Knauf Insulation
  • Solvay S.A.
  • BASF SE
  • Compagnie de Saint-Gobain S.A.
  • Kingspan Group PLC
  • Armacell
  • NICHIAS Corporation
  • Insulcon BV
  • Thomas Insulation Corporation
  • Samhwa Chemical Co., Ltd.
  • STI Co., Ltd.
  • Etex Group
  • Others

The global industrial insulation market is consolidated with the presence of key players such as ROCKWOOL A/S; Owens Corning; Grindwell Norton Ltd.; Knauf Insulation; Solvay S.A.; BASF SE; Compagnie de Saint-Gobain S.A.; Kingspan Group PLC; Armacell; NICHIAS Corporation; Insulcon BV; Thomas Insulation Corporation; Samhwa Chemical Co., Ltd.; STI Co., Ltd.; Etex Group; and others. These key players use business strategies such as mergers, collaborations, acquisitions, partnerships, and product launches to dominate the market. For example, in August 2020, Owens Corning, a US-based manufacturer of insulation, fiberglass, and roofing, announced a new product line, FOAMULAR NGX (Next Generation Extruded), which is produced with an exclusive blowing agent that meets stringent regulatory standards without sacrificing the quality of products. In June 2022, Grindwell Norton Ltd., an India-based manufacturer of industrial abrasives, acquired PRS Permacel Pvt., Ltd., a manufacturer of industrial insulation, which facilitates the integration of the Composite Systems business unit of Grindwell Norton.

Global Industrial Insulation Market by Key Players

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FAQ Section

Some frequently asked quetions about this report!

The global industrial insulation market is estimated to register CAGR of around 5% during the forecast period.

The global industrial insulation market size was valued at around USD 7.82 billion in 2021 and is anticipated to reach around USD 12.10 billion by 2030.

Industrial insulation refers to materials used to create barriers for the transmission of heat, moisture, electricity, sound, or shock between two insulated surfaces.

Asia Pacific dominates the global industrial insulation market.

ROCKWOOL A/S; Owens Corning; Grindwell Norton Ltd.; Knauf Insulation; Solvay S.A.; BASF SE; Compagnie de Saint-Gobain S.A.; and Kingspan Group PLC are some of the key players in the market.