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    Industrial Insulation Market Forecast | 2022-28

    Industrial Insulation Market Forecast | 2022-28
    Report code - SRCE199 Delivery - 2 Weeks
    Industrial Insulation Market Size, Growth, Trend, Forecast, & Industry Analysis &ndash See more...

    Market Insights

    The industrial insulation market is likely to grow from USD 7.7 Billion in 2021 to reach USD 10.88 billion by 2028 at a healthy CAGR of 5.01 % during the forecast period.

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    What is industrial insulation?

    Insulation is a method of reducing the rate of heat transfer by controlling surface temperature for personnel protection. It controls and stabilizes the industrial temperature through various tools such as pipes, vessels, storage tanks, boilers and many others. It also helps to control noise and variation to encase the piping mechanism.  

    Industrial insulation materials are of different types, such as mineral wool, calcium silicate, plastic foams, and others, that are used in various end-use industries, such as power, chemical & pharmaceutical, oil & gas, cement, food & beverages, and others.

    Industrial Insulation Market Report Overview

    Market Size in 2028

    USD 7.7 billion

    Market Size in 2021

    USD 10.88 billion

    Market Growth (2022-2028)

    CAGR of 5.01 %

    Base Year of Study

    2021

    Trend Period

    2016-2019

    Forecast Period

    2022-2028

    Market Dynamics

    These factors are expected to boost the demand for the market in the coming year:

    • The growing demand for electricity is due to the increasing population and industrialization in emerging economies.
    • The rapid urbanization and stringent regulations for energy conservation in various industries such as chemical & petrochemical and cement, are likely to boost the market demand.

    To know more about the market trends., Click here.

    Key Players

    Some of the major players in the market are-

    • Owens Corning
    • Saint Gobain SA
    • Knauf Insulation
    • Insulcon B.V.
    • Kingspan Group PLC
    • Rockwool Group
    • Armacell International S. A.
    • Cabot Corporation
    • Johns Manville,
    • Promat (Etex Group)

    Segment Analysis

    By Material Type

    The market is segmented as mineral wool, calcium silicate, plastic foams, and others. The mineral wool segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The unique properties of mineral wool such as low conductivity, noise reduction, and easy availability drive the growth of the segment. Also, its recyclability, low cost, and suitability for various end-use industries are expected to boost the demand for industrial insulation during the forecast period.

    By End-User Industry Type

    The market is segmented as power, chemical & pharmaceutical, oil & gas, cement, food & beverages, and others. The power industry segment is expected to remain the fastest-growing segment, owing to the increasing demand for electricity from growing population, urbanization, and industrialization in emerging economies such as China, India, and others.

    By Region

    Asia-Pacific is estimated to be the largest as well as fastest-growing industrial insulation market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the widespread trend of industrial and urbanization in the region, along-with the growth of the chemical & petrochemical sector in the region, owing to the increasing demand for petrochemical-based products.

    To know which region offers the best growth opportunities. Click here.

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

    The market is segmented into the following categories. 

    By Material Type:

    • Mineral Wool 
    • Calcium Silicate 
    • Plastic Foams 
    • Others
      • (Material Type Analysis: Microporous, Aerogel, and Natural Fibers)

    By Form Type:

    • Pipe 
    • Blanket 
    • Board 
    • Others 

    By End-User Industry Type:

    • Power 
    • Chemical & Pharmaceutical 
    • Oil & Gas 
    • Cement 
    • Food & Beverages 
    • Others
      • (End-User Industry Type Analysis: Pharmaceutical, Marine, and Metal Processing)

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    Report – Features

    Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle and supply chain analysis
    • Report environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the form types by end-user industry type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Insulation is a method of reducing the rate of heat transfer by controlling surface temperature for personnel protection. It controls and stabilizes the industrial temperature through various tools such as pipes, vessels, storage tanks, boilers and many others. It also helps to control noise and variation to encase piping mechanism. Industrial insulation materials are of different types, such as mineral wool, calcium silicate, plastic foams, and others, that are used in various end-use industries, such as power, chemical & pharmaceutical, oil & gas, cement, food & beverages, and others.

    Owens Corning, Saint Gobain SA, Knauf Insulation, Insulcon B. V., Kingspan Group PLC, Rockwool Group, Armacell International S. A., Cabot Corporation, Johns Manville, and Promat (Etex Group) are among the key players in the market.

    Asia-Pacific is expected to be the largest market during the next five years.

    The growing demand for electricity due to the increasing population and industrialization in emerging economies. The rapid urbanization and stringent regulations for energy conservation in various industries such as chemical & petrochemical and cement, are likely to boost the market demand.

    The mineral wool segment is expected to remain the dominant material type in the in the coming years.

    The market is likely to grow from USD 7.7 Billion in 2021 to reach USD 10.88 billion by 2028.

    The market is likely to grow at a healthy CAGR of 5.01 % during the forecast period.

    The study period of this market report is 2016-28.