The Industrial Insulation Market is Projected to Grow From USD 2.6 Billion in 2019 to USD 3.3 Billion by 2024, at a CAGR of 5.0% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 9, 2019--
The “Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Chemical & Petrochemical, Oil & Gas, Cement, Food & Beverage), and Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The industrial insulation market is projected to register a CAGR of 5.0%, in terms of value, between 2019 and 2024.
The increasing demand for electricity owing to rapid urbanization, growing population, and rising requirements of power & energy in emerging economies are the major drivers for the industrial insulation market. Another factor driving the industrial insulation market is the strict regulations mandating the use of industrial insulation to conserve energy and achieve efficiency in operations. However, the fluctuations in the availability and prices of raw material, low awareness about the application of insulation, and increasing use of renewable energy sources such as Solar PV can hinder the growth of the market.
Mineral wool segment is expected to be the fastest-growing material for industrial insulation, during the forecast period.
Mineral wool is an in-organic insulation material formed by using molten basalt rock, glass or industrial waste. Reduced temperature fluctuations, energy conservation, and availability in pre-formed shapes are the advantages of the material. Mineral wool is used in heavy industrial applications such as power generation, chemical & petrochemical, oil & gas, and cement owing to its high-temperature sustainability. The presence of the properties mentioned above, along with easy availability, and low cost are the major drivers for the use of mineral wool in industrial insulation.
Pipe form is expected to be the largest utilized form of industrial insulation during the forecast period.
Pipe is the major form of insulation used in power, oil & gas and chemical & petrochemical industry, as it facilitates a smooth transfer of fluid from one section to another. Industrial insulation materials such as mineral wool, plastic foam, and calcium silicate can be formed easily into a pipe shape. Pipe form has high dimensional stability and compressive strength. Presence of these properties acts as the major driver for the use of pipe form in industrial insulation.
Power is estimated to be the largest end-use industry of industrial insulation market during the forecast period.
Power generation is the largest end-use industry for industrial insulation. Insulation is used to cover a variety of equipment such as steam pipes, heat storage tanks, and boilers, among others in the power generation industry. The power generation market in developed countries such as the US, and the UK, among others, are saturated since the electricity demand in these developed countries is stable. However, the need for electricity in emerging economies such as China, India, Brazil, and South Africa is growing, mainly driven by industrialization, urbanization, population growth, and rapid electrification. These factors drive the demand for industrial insulation in the power generation industry.
APAC is projected to be the largest industrial insulation market during the forecast period.
APAC was the most promising market for industrial insulation in 2018, and the trend is expected to continue during the forecast period. The growing population, increasing demand for petrochemical-based products, rapid industrialization, and urbanization are demanding more electricity, hence driving the APAC industrial insulation market. Shifting demographics such as aging population, growing awareness about health & fitness, and improving lifestyle standard are responsible for the high growth of the market in the food & beverages segment. In addition, rapid infrastructural development is driving the construction sector; thus, propelling the industrial insulation market in the region.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Industrial Insulation Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Insulation Market
5 Market Overview
5.2 Market Dynamics
5.3 Porter’s Five Forces Analysis
6 Industrial Insulation Market, By Material
6.2 Mineral Wool
6.3 Calcium Silicate
6.4 Plastic Foams
7 Industrial Insulation Market, By Form
8 Industrial Insulation Market, By End-Use Industry
8.3 Chemical & Petrochemical
8.4 Oil & Gas
8.6 Food & Beverage
8.8 Top Industry vs Top Country Mapping
9 Industrial Insulation Market, By Region
9.2 North America
9.3.8 Rest of Europe
9.4.4 South Korea
9.4.8 Rest of APAC
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.3 South Africa
9.5.5 Rest of Middle East and Africa
9.6 South America
9.6.4 Rest of South America
10 Competitive Landscape
10.2 Competitive Leadership Mapping, 2018
10.2.1 Visionary Leaders
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Competitive Bench-marking
10.3.1 Strength of Product Portfolio
10.3.2 Business Strategy Excellence
10.4 Market Ranking of Key Players, 2018
10.5 Competitive Situation & Trends
10.5.1 Investment & Expansion
10.5.2 Merger & Acquisition
10.5.3 New Product Launch
10.5.4 Agreement & Collaboration
11 Company Profiles
11.1 Owens Corning
11.2 Saint Gobain
11.3 Knauf Insulation
11.4 Kingspan Group PLC
11.5 Rockwool Group
11.6 Armacell International S. A.
11.7 Cabot Corporation
11.8 Johns Manville
11.9 Insulcon B. V.
11.10 Promat (Etex Group)
11.11.1 Aerofoam USA LLC
11.11.2 Arabian Fiberglass Insulation Company Ltd.
11.11.3 Beijing New Building Material (Group) Company Ltd.
11.11.4 Beijing Hocreboard Building Materials Company Limited
11.11.5 Dyplast Products
11.11.6 Glassrock Insulation Company S.A.E.
11.11.8 L’isolante K-Flex S.P.A.
11.11.9 NMC International SA
11.11.10 PGF Insulation
11.11.11 Tecresa Proteccion Pasiva, S.L.
11.11.14 Union Foam Spa
11.11.15 Visionary Industrial Insulation
12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details
For more information about this report visit https://www.researchandmarkets.com/r/8z12od
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KEYWORD: ASIA PACIFIC
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
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PUB: 07/09/2019 05:47 AM/DISC: 07/09/2019 05:47 AM