DUBLIN , March 16, 2021 /PRNewswire/ -- The "Global Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Oil & Gas, Chemical & Petrochemical, Cement, Food & Beverage), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global industrial insulation market is projected to reach USD 3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 5% during the forecast period.
The demand for industrial insulation in emerging economies, such as APAC, MEA, and South America , is increasing owing to the growth in industrial activities and growing electricity demand as a result of infrastructural development.
Low awareness and fluctuation in crude oil prices & availability are major restraining factors for the market. The high cost of installation and requirement of skilled workforce is a major challenge for the industrial insulation market. The demand for industrial insulation is rising, owing to the growing demand for cost-effective and sustainable insulation materials. Increased infrastructural spending in emerging economies is also providing scope for growth in the market.
The pipe segment is estimated to be the fastest growing in the overall industrial insulation market during the forecast period
The most widely used form of insulation is pipe being used in end-use industries, such as power, oil & gas, petrochemical, food & beverage, cement, and metal processing. They are covered around the pipes used in these industries to control the flow of heat energy. Pipe insulation decreases energy loss to a great extent, thereby controlling the energy prices. Thus, providing proper insulation to pipes is a necessary function in most of heavy industries, such as power, petrochemical, and oil & gas.
Mineral Wool is estimated to be the fastest growing material in the overall industrial insulation market during the forecast period
Mineral wool is an inorganic insulating material. The mineral wool used in various end-use industries contains around 75% post-industrial recycled materials and does not require additional chemicals to be fire-resistant. Mineral wool is naturally moisture-resistant and retains its insulating qualities even after getting wet during operations. Mineral wool is also effective in blocking sound, so the interior of a building has minimal sound interference.
In end-use industry segment, power segment is estimated to lead the market in 2020
In power industry, industrial insulation is used to cover boilers, furnaces, chimneys, heat storage tanks, and other equipment. It is an important part of power plant installation and operations. It helps the steam-generating boilers keep their temperatures at certain levels. Power generation facilities contain miles and miles of mechanical piping, which move materials from one place to another. These pipes require insulation to maintain temperatures along the electricity generating process. Rapid industrialization has led to economic growth, which resulted in improved quality of life, and in turn, propelled the demand for electricity in emerging economies thereby driving the market for industrial insulation.
APAC is projected to be the fastest growing industrial insulation market during the forecast period
The industrial insulation market in APAC is projected to register the highest CAGR during the forecast period. The demand in APAC is driven by the growing industrial activities, increased consumer and infrastructural spending, and strong economic growth. APAC was the most promising market in 2019, which is expected to continue during the forecast period. Rising population, increasing electrification, growth in disposable income, rapid industrialization, and increased urbanization are driving the APAC industrial insulation market. Increasing the use of oil & gas for power, growing population, and rising demand for petrochemicals are responsible for the high growth of the market in this segment.
4 Premium Insights 4.1 Attractive Opportunities in Industrial Insulation Market 4.2 Industrial Insulation Market, by Material 4.3 Industrial Insulation Market, by Form 4.4 Industrial Insulation Market, by End-use Industry 4.5 Industrial Insulation Market: Major Countries 4.6 APAC: Industrial Insulation Market, by End-use Industry and Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Power and Energy Requirements in Emerging as Well as Developed Economies 5.2.1.2 Regulations Mandating the Use of Insulation for Energy Conservation 5.2.2 Restraints 5.2.2.1 Fluctuating Raw Material Prices due to Volatility in Crude Oil Prices 5.2.2.2 Low Awareness Regarding the Usage of Insulation Products 5.2.3 Opportunities 5.2.3.1 Increased Infrastructural Spending in Emerging Economies 5.2.4 Challenges 5.2.4.1 High Cost of Installation and Requirement of Skilled Workforce 5.3 Patent Analysis 5.3.1 Methodology 5.3.2 Document Type 5.3.3 Publication Trends - Last 5 Years 5.3.4 Insight 5.3.5 Jurisdiction Analysis 5.3.6 Top 10 Companies/Applicants 5.4 Trade Analysis 5.5 Regulatory Landscape 5.5.1 US 5.5.2 Europe 5.5.3 Others 5.6 Ecosystem 5.7 Technology Analysis 5.7.1 New Technologies - Industrial Insulations 5.8 Impact of COVID-19 on Industrial Insulation Market 5.8.1 COVID-19 5.8.2 Confirmed Cases and Deaths, by Geography 5.8.3 Impact on End-use Industries 5.8.3.1 Impact on Customers' Output and Strategies to Improve Production 5.8.3.2 Short-Term Strategies to Manage Cost Structure and Supply Chains 5.9 Raw Material Analysis 5.9.1 Mineral Wool 5.9.2 Calcium Silicate 5.9.3 Plastic Foams 5.10 Porter's Five Forces Analysis 5.11 Value Chain Analysis 5.12 Macroeconomic Indicators 5.13 Case Study Analysis
6 Industrial Insulation Market, by Form 6.1 Introduction 6.2 Pipe 6.2.1 Large Number of Application Areas in Various Industries Drives the Market 6.3 Blanket 6.3.1 Blanket Form of Insulation is Lightweight; and Easy to Handle and Manufacture 6.4 Board 6.4.1 Board Insulation Has a Good Thermal Resistance and Reduces Heat Conduction 6.5 Others
7 Industrial Insulation Market, by Material 7.1 Introduction 7.2 Mineral Wool 7.2.1 Use of Recycled Materials in Manufacturing to Drive the Demand 7.2.2 Glass Wool 7.2.3 Stone Wool 7.3 Calcium Silicate 7.3.1 Low Cost and Ease of Usage to Drive Demand for Calcium Silicate 7.4 Plastic Foams 7.4.1 Plastic Foams are Energy Efficient Materials, Which Drives Market Growth 7.4.2 Polyurethane (PU) 7.4.3 Polystyrene (PS) 7.4.4 Polypropylene (PP) 7.5 Others
8 Industrial Insulation Market, by End-use Industry 8.1 Introduction 8.2 Power 8.2.1 Improved Quality of Life due to Economic Growth by Industrialization Has Led to Increase in Power Generation 8.3 Chemical & Petrochemical 8.3.1 Increase in Disposable Income is Driving the Demand for Petrochemical Products 8.4 Oil & Gas 8.4.1 Rising Demand for Energy in the Emerging Economies to Drive the Market 8.5 Cement 8.5.1 Increased Global Spending on Infrastructure to Drive the Market 8.6 Food & Beverage 8.6.1 Large Number of Application Areas Drives the Market 8.7 Others
9 Industrial Insulation Market, by Region 9.1 Introduction 9.2 North America 9.3 APAC 9.4 Europe 9.5 South America 9.6 Middle East & Africa
10 Competitive Landscape 10.1 Overview 10.2 Market Evaluation Framework 10.3 Market Share, 2019 10.4 Market Ranking 10.4.1 Owens Corning 10.4.2 Saint Gobain 10.4.3 Knauf Insulation 10.4.4 Rockwool Group 10.4.5 Armacell International SA 10.5 Competitive Evaluation Quadrant (Tier 1) 10.5.1 Terminology/Nomenclature 10.5.1.1 Star 10.5.1.2 Emerging Leaders 10.5.2 Strength of Product Portfolio 10.5.3 Business Strategy Excellence 10.6 Competitive Leadership Mapping (Other Key Players) 10.6.1 Terminology/Nomenclature 10.6.1.1 Progressive Companies 10.6.1.2 Responsive Companies 10.6.1.3 Starting Blocks 10.6.2 Strength of Product Portfolio 10.6.3 Business Strategy Excellence 10.7 Key Market Developments 10.7.1 Investment & Expansion 10.7.2 New Product/Technology Launch 10.7.3 Merger & Acquisition 10.7.4 Partnership & Agreement 10.8 Revenue Analysis
11 Company Profiles 11.1 Owens Corning 11.2 Saint Gobain 11.3 Knauf Insulation 11.4 Rockwool Group 11.5 Armacell International S.A. 11.6 Insulcon B.V. 11.7 Johns Manville 11.8 Kingspan Group plc 11.9 Nichias Corporation 11.10 Promat (Etex Group) 11.11 Other Key Players 11.11.1 Aerofoam USA LLC 11.11.2 Arabian Fiberglass Insulation Company Ltd. 11.11.3 Beijing Hocreboard Building Materials Company Limited 11.11.4 Beijing New Building Material (Group) Company Ltd. 11.11.5 Cabot Corporation 11.11.6 Dyplast Products 11.11.7 Glassrock Insulation Company S.A.E. 11.11.8 L'Isolante K-Flex S.p.A. 11.11.9 NMC International S.A. 11.11.10 PGF Insulation 11.11.11 Tecresa Proteccion Pasiva, S.L. 11.11.12 Temati 11.11.13 Unifrax 11.11.14 Union Foam S.p.A. 11.11.15 Visionary Industrial Insulation
12 Adjacent/Related Markets 12.1 Limitations 12.2 OEM Insulation Market 12.2.1 OEM Insulation Market, Market Overview 12.2.2 OEM Insulation Market, by Material Type 12.2.2.1 Foamed Plastics 12.2.2.2 Mineral Wool/Fiber 12.2.2.3 Other Insulating Material 12.2.3 OEM Insulation Market, by End-use Industry 12.2.3.1 Industrial 12.2.3.2 Building & Construction Industry 12.2.3.3 Oil & Petrochemical Industry 12.2.3.4 Power Generation Industry 12.2.3.5 Food Processing Industry 12.2.3.6 Refrigeration Industry 12.2.3.7 Offshore and Subsea 12.2.3.8 Others 12.2.3.9 Consumer 12.2.3.10 Transportation 12.2.4 OEM Insulation Market, by Region 12.2.4.1 APAC 12.2.4.2 North America 12.2.4.3 Western Europe 12.2.4.4 Central & Eastern Europe 12.2.4.5 South America 12.2.4.6 Middle East & Africa 12.3 High Temperature Insulation Market 12.3.1 High Temperature Insulation Market, by Material Type 12.3.1.1 Ceramic Fibers 12.3.1.2 Insulating Firebricks 12.3.1.3 Calcium Silicate 12.3.2 High Temperature Insulation Market, by Temperature Range 12.3.2.1 600C -1,100C (1,112F-2,012F) Temperature Range 12.3.2.2 1,100C -1,500C (2,012F-2,732F) Temperature Range 12.3.2.3 1,500C -1,700C (2,732F-3,092F) Temperature Range 12.3.2.4 1,700C (3,092F) and Above Temperature Range 12.3.3 8 High Temperature Insulation Materials Market, by End-use Industry 12.3.3.1 Petrochemical 12.3.3.2 Ceramic 12.3.3.3 Glass 12.3.3.4 Aluminum 12.3.3.5 Iron & Steel 12.3.3.6 Cement 12.3.3.7 Refractory 12.3.3.8 Powder Metallurgy 12.3.3.9 Others 12.3.4 High Temperature Insulation Materials Market, by Region 12.3.4.1 APAC 12.3.4.2 North America 12.3.4.3 Europe 12.3.4.4 Middle East & Africa 12.3.4.5 South America
13 Appendix 13.1 Discussion Guide 13.2 Knowledge Store: The Subscription Portal 13.3 Available Customizations 13.4 Sample Customization (Previous Version) 13.4.1 Netherlands
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