The Business Research Company’s report on the Industrial Insulation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the industrial insulation market further?
The increase in power and energy requirements is expected to propel the growth of the industrial insulation market going forward. Energy refers to the power integrated over time. Industrial insulation helps with energy and power by acting as a barrier to the transmission of any form of energy through the insulated surfaces. For instance, in June 2023, according to the Energy Information Administration, a US-based government agency, renewable energy consumption has increased 13.2 quads in 2022 from 12.1 quads in 2021in United States. Therefore, an increase in power and energy requirements is driving the industrial insulation market.
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What are the key factors influencing the forecasted market size of the industrial insulation industry?
The industrial insulation market size has grown strongly in recent years. It will grow from $5.05 billion in 2024 to $5.45 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to energy efficiency regulations, environmental awareness, industrial growth, growth in construction activities, aging infrastructure.
The industrial insulation market size is expected to see strong growth in the next few years. It will grow to $7.5 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to climate change concerns, infrastructure development, globalization, rise in power generation sector, rise in urbanization. Major trends in the forecast period include eco-friendly materials, heat recovery systems, remote monitoring and maintenance, resilience to extreme conditions.
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Who are the leading competitors 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.
Which emerging trends are set to transform the industrial insulation market landscape?
Product innovation is becoming a prominent trend in the industrial insulation sector. Major companies operating in the industrial insulation market are coming up with new products to address water ingress challenges, enhance fire safety in industrial settings, and reduce energy reduce harmful impacts on the environment. For instance, in September 2023, ROCKWOOL, a Denmark-based manufacturer of mineral wool products launched ProRox insulation, enhancing industrial safety and efficiency. The product combats water ingress, mitigating corrosion under insulation (CUI) risks. Additionally, it provides superior fire resistance, particularly in hydrocarbon-rich environments. ProRox’s stone wool composition offers both thermal and acoustic benefits. The insulation also promotes sustainability, with easy installation and reusability.
How do different geographies compare in terms of market share and growth potential in the industrial insulation market?
Asia-Pacific was the largest region in the industrial insulation market in 2024. The regions covered in the industrial insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Which major segments of the industrial insulation market are experiencing the fastest growth?
The industrial insulation market covered in this report is segmented –
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
Subsegments:
1) By Pipe Insulation: Pre-formed Pipe Insulation, Flexible Pipe Insulation, Rigid Pipe Insulation, Blanket Insulation
2) By Blanket Insulation: Fiberglass Blankets, Mineral Wool Blankets, Foam Blankets
3) By Board Insulation: Rigid Foam Boards, Mineral Wool Boards, Gypsum Boards
4) By Other Forms: Spray Foam Insulation, Insulation Coatings, Duct Insulation
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What defines the structure and scope of the industrial insulation market?
Industrial insulation refers to insulation IT & Communication Technology that are used to control the surface temperature for personal protection, prevent corrosion of cold surfaces due to condensation, and increase fire protection. It is a barrier to the progression or transmission of any form of energy through the insulated surfaces.
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