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What Are the Size and Growth Forecasts for the Industrial Insulation Global Market?
The industrial insulation market size has witnessed robust growth over the years. From $5.05 billion in 2024, the market is projected to reach $5.45 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. This growth can be attributed to factors like energy efficiency regulations, environmental awareness, industrial expansion, construction activities growth, and aging infrastructure.
The market is expected to continue its strong growth, reaching $7.5 billion in 2029 at a CAGR of 8.3%. Factors driving this growth include climate change concerns, infrastructure development, globalization, rise in power generation sector, rise in urbanization. Major trends for the forecast period include eco-friendly materials, heat recovery systems, remote monitoring and maintenance, resilience to extreme conditions.
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What Are The Major Drivers For The Industrial Insulation Global Market?
The surge in power and energy requirements is a major driver for the industrial insulation market. Industrial insulation serves as a barrier to energy transmission, promoting energy efficiency in various industries. According to the Energy Information Administration, renewable energy consumption in the United States increased from 12.1 quads in 2021 to 13.2 quads in 2022, reinforcing the need for efficient industrial insulation.
What Are The Key Segments Within The Industrial Insulation Market?
The industrial insulation market report includes the following segments –
1) By Form: Pipe, Blanket, Board, Other Forms
2) By Material: Mineral Wool, Calcium Silicate, Plastic foams, Other Materials
3) By End-Use Industry: Power, Oil and Gas, Chemical, Petrochemical, Cement, Food and Beverage, Other End-Use Industries
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Who Are The Major Players In The Industrial Insulation Market?
Major companies operating in the industrial insulation market include Owens Corning, Johns Manville, Rockwool International, Knauf Insulation, Saint-Gobain, Armacell, CertainTeed, Flexitallic, Morgan Advanced Materials, 3M Company, Insulcon, Thermal Ceramics, Hempel, Sika, Aspen Aerogels, A. F. M. Insulation, K-flex, Unifrax, Isolatek International, Crown Insulation, PPG Industries, GAF, C. E. Wood, EcoBatt, Superglass Insulation, Trelleborg, Dow Inc.
What Emerging Trends Are Impacting The Industrial Insulation Market?
Product innovation is a notable trend in the industrial insulation sector. Major companies are launching new products to tackle challenges like water ingress, enhance fire safety in industrial settings, and reduce environmental impacts. An example is the launch of ProRox insulation by ROCKWOOL in September 2023. ProRox combats water ingress, mitigates corrosion under insulation (CUI) risks, offers superior fire resistance, and promotes sustainability.
Which Region Is The Largest In The Industrial Insulation Market?
Asia-Pacific was the largest region in the industrial insulation market in 2024. The report covers the industrial insulation market in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Industrial Insulation Market Offer?
Industrial insulation refers to the insulation services used to control surface temperature, increase fire protection, and prevent corrosion due to condensation. It serves as a barrier to energy transmission through insulated surfaces. The Industrial Insulation Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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