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Industrial Insulation Market | Covid-19 Impact Analysis
The Industrial Insulation Market is Segmented by Material Type (Mineral Wool, Calcium Silicate, Plastic Foams, and Others), by Form Type (Pipe, Blanket, Board and Others), by End-User Industry Type (Power, Chemical & Pharmaceutical, Oil & Gas, Cement, Food & Beverages, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Industrial Insulation Market is likely to witness an impressive CAGR of 5.0% during the forecast period. The growing demand for electricity due to the increasing population and industrialization in emerging economies is expected to govern the growth of the market, along with the rapid urbanization and stringent regulations for energy conservation in various industries such as chemical & petrochemical and cement, which are likely to boost the market demand during the next five years.
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Industrial Insulation Market - Snapshot |
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Growth |
5.0% for the next five years |
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Major Material Type |
Mineral Wool |
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Fastest-growing End-User Industry Type |
Power |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Owens Corning, Saint Gobain, Knauf Insulation, Insulcon B. V., Kingspan Group PLC, Rockwool Group, Armacell International S. A., Cabot Corporation, Johns Manville, Promat (Etex Group). |
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Based on the 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 2019, 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.
Based on the 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.
In terms of regions, 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.
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Some of the major players in the industrial insulation market are-
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.
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.
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Industrial Insulation Market Research Report - Features |
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Market Segmentation |
4 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The industrial insulation market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.
This report provides market 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 market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 [email protected].
The industrial insulation market is expected to witness an impressive growth of 5.0% CAGR in the foreseeable future.
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 Industrial Insulation Market.
Asia-Pacific is expected to be the largest industrial insulation market during the next five years.
The mineral wool segment is expected to remain dominant material type in the industrial insulation market in the coming years.
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