The global industrial insulation market size reached US$ 7.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
|Industrial Insulation Market Size in 2022
||US$ 7.4 Billion
|Industrial Insulation Market Forecast in 2028
||US$ 9.9 Billion
|Industrial Insulation Market Growth Rate 2023-2028
Insulation refers to the process of barricading the entry of electricity, heat, and sound in the physical space of the equipment. In industrial spaces, it is extensively employed for maintaining temperature through the help of various components, including storage tanks, boilers, vessels, and pipes. They are usually made of low thermal conductivity materials, such as mineral wool, polyethene, and polystyrene, which aids in reducing energy costs and moisture condensation, mitigating corrosion, decreasing unwanted loss or gain of heat and promoting minimal energy consumption.
Industrial Insulation Market Trends:
The widespread adoption of industrial insulation across automotive, petrochemicals, oil and gas, power generation and electronic sectors can be attributed to the rising need to make manufacturing processes more efficient as it obstructs the heat transfer of the equipment systems and enhances machine performance. This represents the key factor primarily driving the market growth. In line with this, the escalating demand for power generation has prompted governments of various countries to implement stringent regulations to promote the uptake of insulation materials, which is acting as another growth-inducing factor. This, in turn, assists in ensuring energy conservation and process optimization, eliminating condensation of moisture and reducing the risks of accidents and fire hazards in industries. Additionally, the extensive insulation of boilers, furnaces, heat storage tanks and chimneys in the power industry for maintaining optimum temperature level to augment the efficiency of operations is also contributing to the market growth. Moreover, several product innovations, such as the introduction of mineral wool that exhibit fire-resistant and anti-moisture properties, to meet evolving needs of different applications are propelling the market growth. Apart from this, the increasing product utilization in transportation equipment to offer frost protection during low temperatures, along with their easy availability at affordable prices are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial insulation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, insulation material and end use industry.
Breakup by Product:
Breakup by Insulation Material:
- Mineral Wool
- Fiber Glass
- Foamed Plastics
- Calcium Silicate
Breakup by End Use Industry:
- Chemical and Petrochemical
- Electrical and Electronics
- Oil and Gas
- Power Generation
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aspen Aerogels Inc., BASF SE, Bnz Materials Inc., Cabot Corporation, Compagnie de Saint-Gobain S.A, Ibiden Co. Ltd., Johns Manville Corporation (Berkshire Hathaway Inc), Kingspan Group plc, Knauf Insulation, Nichias Corporation, Owens Corning and Rockwool A/S.
|Base Year of the Analysis
||Product, Insulation Material, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aspen Aerogels Inc., BASF SE, Bnz Materials Inc., Cabot Corporation, Compagnie de Saint-Gobain S.A, Ibiden Co. Ltd., Johns Manville Corporation (Berkshire Hathaway Inc), Kingspan Group plc, Knauf Insulation, Nichias Corporation, Owens Corning and Rockwool A/S
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)