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Industrial Insulation Market

Global Industrial Insulation Market Size, Share, Forecast: By Insulation Material: Mineral Wool, Fibre Glass, Foamed Plastics, Calcium Silicate, Others; By Product: Blanket, Board, Pipe, Others; By End-use Industry: Automotive, Chemical and Petrochemical, Construction, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Industrial Insulation Market Outlook

The global industrial insulation market stood at a value of around USD 7.66 billion in 2023. The market is further expected to grow at a CAGR of 6.2% in the forecast period of 2024-2032 to attain USD 13.16 billion by 2032.

 

Industrial Insulation Market

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The Considerable Growth of the Mineral Wool Segment to Bolster the Growth of the Industrial Insulation Industry

Based on insulation material, the mineral wool segment accounts for a significant share in the market. Mineral wool is fireproof and is a bad conductor of heat. Hence, it is ideal for industries where environment demands high fire safety. It is a cost-effective material as it does not require any additional chemicals to be fire-resistant. It is naturally moisture resistant and has the ability to insulate even if wet. It offers efficient sound blocking, preventing a structure from acoustic invasion. Over the forecast period, the rising demand for mineral wool in fireproof doors, partition walls, ceilings, protective clothing, and other fire and sound-retardant products is likely to propel the global industrial insulation industry. Furthermore, the growing need to reduce energy bills is likely to augment the growth of this segment, as mineral wool allows a structure to gain heat or cool down very fast.

 

The Asia Pacific Region Accounts for a Significant Share in the Market

The industrial insulation industry in the Asia Pacific is driven by the rapid industrialisation in the emerging economies in the continent, coupled with the stringent government regulations pertaining to the energy consumption. The growing investments in order to improve the energy consumption in the industries is likely to provide impetus to the market in the region. China and India have witnessed a significant surge in the industrial activities, owing to the high-scientific technological development and good economic returns. Hence, this factor is likely to bolster the energy-saving projects in the region, propelling the demand for industrial insulation products. The market in the region is further expected to be aided by the growing awareness about reducing the carbon-emission from industries, in order to save the environment from degradation.

 

Industrial Insulation: Market Segmentation

Industrial insulation is defined as the process of controlling noise and maintaining temperature of an industrial structure through various insulation materials. Industrial insulation reduces the unwanted loss or gain of heat and can decrease the energy demands of heating and cooling systems.

 

Global Industrial Insulation Market By Insulation Material

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Based on insulation material, the market is segmented into:

  • Mineral Wool
  • Fibre Glass
  • Foamed Plastics
  • Calcium Silicate
  • Others

On the basis of product, the industry is divided into:

  • Blanket
  • Board
  • Pipe
  • Others

The major end-use industries of industrial insulation include:

  • Automotive
  • Chemical and Petrochemical
  • Construction
  • Electrical and Electronics
  • Oil and Gas
  • Power Generation
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Industrial Insulation Market by Region

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The Rising Application of Industrial Insulation Products in the Power Generation Sector to Boost the Market Growth

The global industrial insulation industry is driven by the growing end use of industrial insulation products in power generation industry. Insulation is very important in the power generation plants in order to bolster the thermal efficiency of power plants. The boiler, furnaces, chimneys, heat storage tanks, and other equipment in the power industry need to be insulated in order to maintain certain levels of temperature in order to augment the efficiency of operations. Over the forecast period, the market is anticipated to be driven by the growing expansion of the automotive, chemical and petrochemical, construction, and electrical and electronics industry.

 

Key Industry Players in the Global Industrial Insulation Market

The report gives a detailed analysis of the following key players in the global industrial insulation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • BASF SE
  • BNZ Materials, Inc.
  • Cabot Corporation
  • Imerys S.A
  • Knauf Insulation  
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Insulation Material
  • Product
  • End-use Industry
  • Region
Breakup by Insulation Material
  • Mineral Wool
  • Fibre Glass
  • Foamed Plastics
  • Calcium Silicate
Breakup by Product
  • Blanket
  • Board
  • Pipe
  • Others
Breakup by End-use Industry
  • Automotive
  • Chemical and Petrochemical
  • Construction
  • Electrical and Electronics
  • Oil and Gas
  • Power Generation
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BASF SE
  • BNZ Materials, Inc.
  • Cabot Corporation
  • Imerys S.A
  • Knauf Insulation
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Industrial Insulation Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Industrial Insulation Historical Market (2018-2023) 
    8.3    Global Industrial Insulation Market Forecast (2024-2032)
    8.4    Global Industrial Insulation Market by Insulation Material
        8.4.1    Mineral Wool
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Fibre Glass
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Foamed Plastics
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Calcium Silicate
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Industrial Insulation Market by Product
        8.5.1    Blanket
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Board
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Pipe
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Industrial Insulation Market by End-use Industry
        8.6.1    Automotive
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Chemical and Petrochemical
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Construction
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Electrical and Electronics
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Oil and Gas
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Power Generation
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others 
    8.7    Global Industrial Insulation Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Industrial Insulation Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Industrial Insulation Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Industrial Insulation Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Industrial Insulation Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and  Africa Industrial Insulation Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    BASF SE
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    BNZ Materials, Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Cabot Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Imerys S.A
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Knauf Insulation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and  Developments in the Market

 

List of Key Figures and Tables

1.    Global Industrial Insulation Market: Key Industry Highlights, 2018 and 2032
2.    Global Industrial Insulation Historical Market: Breakup by Insulation Material (USD Million), 2018-2023
3.    Global Industrial Insulation Market Forecast: Breakup by Insulation Material (USD Million), 2024-2032
4.    Global Industrial Insulation Historical Market: Breakup by Product (USD Million), 2018-2023
5.    Global Industrial Insulation Market Forecast: Breakup by Product (USD Million), 2024-2032
6.    Global Industrial Insulation Historical Market: Breakup by End-use Industry (USD Million), 2018-2023
7.    Global Industrial Insulation Market Forecast: Breakup by End-use Industry (USD Million), 2024-2032
8.    Global Industrial Insulation Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Industrial Insulation Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Industrial Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Industrial Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Industrial Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Industrial Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Industrial Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Industrial Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Industrial Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Industrial Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Industrial Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Industrial Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Industrial Insulation Market Structure

Key Questions Answered in the Report

In 2023, the market attained a value of approximately USD 7.66 billion. 

The market is estimated to grow at a CAGR of 6.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 13.16 billion by 2032. 

The major drivers of the market include the rising application of industrial insulation products in various end-use industries, the introduction of stringent regulations by various governments regarding power consumption, and rapid industrialisation in the developing economies.

The growing research and development activities and the development of innovative recyclable insulation materials are expected to be the key trends guiding the growth of the market.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Mineral wool, fibre glass, foamed plastics, and calcium silicate, among others, are the different insulation materials in the market.

Blanket, board, and pipe, among others, are the major products in the global industrial insulation market.

Automotive, chemical and petrochemical, construction, electrical and electronics, oil and gas, and power generation, among others, are the various end-use industries in the market.

The major players in the market are BASF SE, BNZ Materials, Inc., Cabot Corporation, Imerys S.A, and Knauf Insulation, among others.

Analyst Review

The global industrial insulation market attained a value of about USD 7.66 billion in 2023, driven by the rising application of industrial insulation products in various end-use industries. Aided by the growing R&D activities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.2%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on insulation material, the industrial insulation industry is categorised into mineral wool, fibre glass, foamed plastics, and calcium silicate, among others. On the basis of product, the market is divided into blanket, board, and pipe, among others. By end-use industry, the market is segmented into automotive, chemical and petrochemical, construction, electrical and electronics, oil and gas, and power generation, among others. The major regional markets for industrial insulation are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include BASF SE, BNZ Materials, Inc., Cabot Corporation, Imerys S.A, and Knauf Insulation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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