OEM Insulation Market Worth 14.62 Billion USD by 2021
PUNE, India, August 17, 2016 /PRNewswire/ --
The report "OEM Insulation Market by Material Type (Foamed Plastics and Mineral Wool), End-use Industry (Industrial, Consumer, and Transportation), and Region - Global Forecasts to 2021", Published by MarketsandMarkets, The global market size is projected to reach USD 14.62 Billion by 2021, registering a CAGR of 5.83% from 2016 to 2021.
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Browse 110 market data Tables and 59 Figures spread through 186 Pages and in-depth TOC on "OEM Insulation Market"
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Increasing stringent regulations on energy efficiency are leading to the development of newer insulation materials for OEM applications.
Foamed plastics are the major insulation materials in the OEM insulation market
Foamed plastics insulation is projected to continue to account for the major portion of the total OEM market, in terms of volume. Economic expansion in the developing countries of Asia-Pacific will increase the demand for foamed plastic insulation in both building & construction and the production of household appliances. Foamed plastic insulation can be applied on various types of structural materials, including stone, brick, and masonry.
Majority demand of OEM insulation observed in the industrial sector
The offshore oil & gas, energy & utilities, manufacturing, semiconductor, telecom, and other equipment industries (electronic, analytical, and medical) use a significant amount of insulation materials for acoustic-, thermal-, and fire-related purposes. Out of all the industries mentioned above, oil & gas is the biggest consumer of OEM insulation materials, followed by energy & utilities and other equipment industries. OEM insulation materials such as glass wool and foams are mainly used in pipelines, pumps, compressors, power generators, and turbine rooms in the industrial sector.
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Asia-Pacific is estimated to account for the highest CAGR during the forecast period
Asia-Pacific is the largest market for OEM insulation, both in terms of volume and value, followed by North America and Western Europe. China, the U.S., Germany, and Japan are the largest consumers of OEM insulation materials. Commercial and domestic buildings demand bulk amounts of OEM insulation market materials in Asia-Pacific. In China, South Korea, and to a lesser extent, Japan, where the use of OEM insulation materials is more widespread, the rising awareness with regard to the benefits of insulation to achieve energy-efficient buildings, together with rising energy prices, are increasing the Importance of OEM insulation materials in the construction industry. In the other countries, there is a lack of legislation for OEM insulation and building standards, further explaining the low levels of consumption.
Key players in the OEM insulation market
The key players in the global market include Saint-Gobain S.A. (France), Rockwool International A/S (Denmark), Knauf Insulation (U.S.), Johns Manville Corporation (U.S.), Owens Corning Corp. (U.S.), Paroc (Finland), The 3M Company (U.S.), Aspen Aerogels Inc. (U.S.), E.I. du Pont de Nemours and Company (U.S.), Armacell International S.A. (Germany), Autex Industries Ltd. (New Zealand), Anco Products Inc. (U.S.), Big Sky Insulations (U.S.), Triumph Group Inc. (U.S.), Morgan Advanced Materials (U.K.), Superglass Insulation Ltd., (U.K.), ACH Foam Technologies LLC (U.S.), Demilec Inc. (Canada) and Scott Industries LLC (U.S.).
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