The Worldwide Industrial Insulation Industry is Expected to Reach $3 Billion by 2025 at a CAGR of 5% from 2020

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Mar 16, 2021, 11:30 ET

DUBLIN, March 16, 2021 /PRNewswire/ -- The "Global Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Oil & Gas, Chemical & Petrochemical, Cement, Food & Beverage), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global industrial insulation market is projected to reach USD 3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 5% during the forecast period.

The demand for industrial insulation in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in industrial activities and growing electricity demand as a result of infrastructural development.

Low awareness and fluctuation in crude oil prices & availability are major restraining factors for the market. The high cost of installation and requirement of skilled workforce is a major challenge for the industrial insulation market. The demand for industrial insulation is rising, owing to the growing demand for cost-effective and sustainable insulation materials. Increased infrastructural spending in emerging economies is also providing scope for growth in the market.

The pipe segment is estimated to be the fastest growing in the overall industrial insulation market during the forecast period

The most widely used form of insulation is pipe being used in end-use industries, such as power, oil & gas, petrochemical, food & beverage, cement, and metal processing. They are covered around the pipes used in these industries to control the flow of heat energy. Pipe insulation decreases energy loss to a great extent, thereby controlling the energy prices. Thus, providing proper insulation to pipes is a necessary function in most of heavy industries, such as power, petrochemical, and oil & gas.

Mineral Wool is estimated to be the fastest growing material in the overall industrial insulation market during the forecast period

Mineral wool is an inorganic insulating material. The mineral wool used in various end-use industries contains around 75% post-industrial recycled materials and does not require additional chemicals to be fire-resistant. Mineral wool is naturally moisture-resistant and retains its insulating qualities even after getting wet during operations. Mineral wool is also effective in blocking sound, so the interior of a building has minimal sound interference.

In end-use industry segment, power segment is estimated to lead the market in 2020

In power industry, industrial insulation is used to cover boilers, furnaces, chimneys, heat storage tanks, and other equipment. It is an important part of power plant installation and operations. It helps the steam-generating boilers keep their temperatures at certain levels. Power generation facilities contain miles and miles of mechanical piping, which move materials from one place to another. These pipes require insulation to maintain temperatures along the electricity generating process. Rapid industrialization has led to economic growth, which resulted in improved quality of life, and in turn, propelled the demand for electricity in emerging economies thereby driving the market for industrial insulation.

APAC is projected to be the fastest growing industrial insulation market during the forecast period

The industrial insulation market in APAC is projected to register the highest CAGR during the forecast period. The demand in APAC is driven by the growing industrial activities, increased consumer and infrastructural spending, and strong economic growth. APAC was the most promising market in 2019, which is expected to continue during the forecast period. Rising population, increasing electrification, growth in disposable income, rapid industrialization, and increased urbanization are driving the APAC industrial insulation market. Increasing the use of oil & gas for power, growing population, and rising demand for petrochemicals are responsible for the high growth of the market in this segment.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Industrial Insulation Market
4.2 Industrial Insulation Market, by Material
4.3 Industrial Insulation Market, by Form
4.4 Industrial Insulation Market, by End-use Industry
4.5 Industrial Insulation Market: Major Countries
4.6 APAC: Industrial Insulation Market, by End-use Industry and Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Power and Energy Requirements in Emerging as Well as Developed Economies
5.2.1.2 Regulations Mandating the Use of Insulation for Energy Conservation
5.2.2 Restraints
5.2.2.1 Fluctuating Raw Material Prices due to Volatility in Crude Oil Prices
5.2.2.2 Low Awareness Regarding the Usage of Insulation Products
5.2.3 Opportunities
5.2.3.1 Increased Infrastructural Spending in Emerging Economies
5.2.4 Challenges
5.2.4.1 High Cost of Installation and Requirement of Skilled Workforce
5.3 Patent Analysis
5.3.1 Methodology
5.3.2 Document Type
5.3.3 Publication Trends - Last 5 Years
5.3.4 Insight
5.3.5 Jurisdiction Analysis
5.3.6 Top 10 Companies/Applicants
5.4 Trade Analysis
5.5 Regulatory Landscape
5.5.1 US
5.5.2 Europe
5.5.3 Others
5.6 Ecosystem
5.7 Technology Analysis
5.7.1 New Technologies - Industrial Insulations
5.8 Impact of COVID-19 on Industrial Insulation Market
5.8.1 COVID-19
5.8.2 Confirmed Cases and Deaths, by Geography
5.8.3 Impact on End-use Industries
5.8.3.1 Impact on Customers' Output and Strategies to Improve Production
5.8.3.2 Short-Term Strategies to Manage Cost Structure and Supply Chains
5.9 Raw Material Analysis
5.9.1 Mineral Wool
5.9.2 Calcium Silicate
5.9.3 Plastic Foams
5.10 Porter's Five Forces Analysis
5.11 Value Chain Analysis
5.12 Macroeconomic Indicators
5.13 Case Study Analysis

6 Industrial Insulation Market, by Form
6.1 Introduction
6.2 Pipe
6.2.1 Large Number of Application Areas in Various Industries Drives the Market
6.3 Blanket
6.3.1 Blanket Form of Insulation is Lightweight; and Easy to Handle and Manufacture
6.4 Board
6.4.1 Board Insulation Has a Good Thermal Resistance and Reduces Heat Conduction
6.5 Others

7 Industrial Insulation Market, by Material
7.1 Introduction
7.2 Mineral Wool
7.2.1 Use of Recycled Materials in Manufacturing to Drive the Demand
7.2.2 Glass Wool
7.2.3 Stone Wool
7.3 Calcium Silicate
7.3.1 Low Cost and Ease of Usage to Drive Demand for Calcium Silicate
7.4 Plastic Foams
7.4.1 Plastic Foams are Energy Efficient Materials, Which Drives Market Growth
7.4.2 Polyurethane (PU)
7.4.3 Polystyrene (PS)
7.4.4 Polypropylene (PP)
7.5 Others

8 Industrial Insulation Market, by End-use Industry
8.1 Introduction
8.2 Power
8.2.1 Improved Quality of Life due to Economic Growth by Industrialization Has Led to Increase in Power Generation
8.3 Chemical & Petrochemical
8.3.1 Increase in Disposable Income is Driving the Demand for Petrochemical Products
8.4 Oil & Gas
8.4.1 Rising Demand for Energy in the Emerging Economies to Drive the Market
8.5 Cement
8.5.1 Increased Global Spending on Infrastructure to Drive the Market
8.6 Food & Beverage
8.6.1 Large Number of Application Areas Drives the Market
8.7 Others

9 Industrial Insulation Market, by Region
9.1 Introduction
9.2 North America
9.3 APAC
9.4 Europe
9.5 South America
9.6 Middle East & Africa

10 Competitive Landscape
10.1 Overview
10.2 Market Evaluation Framework
10.3 Market Share, 2019
10.4 Market Ranking
10.4.1 Owens Corning
10.4.2 Saint Gobain
10.4.3 Knauf Insulation
10.4.4 Rockwool Group
10.4.5 Armacell International SA
10.5 Competitive Evaluation Quadrant (Tier 1)
10.5.1 Terminology/Nomenclature
10.5.1.1 Star
10.5.1.2 Emerging Leaders
10.5.2 Strength of Product Portfolio
10.5.3 Business Strategy Excellence
10.6 Competitive Leadership Mapping (Other Key Players)
10.6.1 Terminology/Nomenclature
10.6.1.1 Progressive Companies
10.6.1.2 Responsive Companies
10.6.1.3 Starting Blocks
10.6.2 Strength of Product Portfolio
10.6.3 Business Strategy Excellence
10.7 Key Market Developments
10.7.1 Investment & Expansion
10.7.2 New Product/Technology Launch
10.7.3 Merger & Acquisition
10.7.4 Partnership & Agreement
10.8 Revenue Analysis

11 Company Profiles
11.1 Owens Corning
11.2 Saint Gobain
11.3 Knauf Insulation
11.4 Rockwool Group
11.5 Armacell International S.A.
11.6 Insulcon B.V.
11.7 Johns Manville
11.8 Kingspan Group plc
11.9 Nichias Corporation
11.10 Promat (Etex Group)
11.11 Other Key Players
11.11.1 Aerofoam USA LLC
11.11.2 Arabian Fiberglass Insulation Company Ltd.
11.11.3 Beijing Hocreboard Building Materials Company Limited
11.11.4 Beijing New Building Material (Group) Company Ltd.
11.11.5 Cabot Corporation
11.11.6 Dyplast Products
11.11.7 Glassrock Insulation Company S.A.E.
11.11.8 L'Isolante K-Flex S.p.A.
11.11.9 NMC International S.A.
11.11.10 PGF Insulation
11.11.11 Tecresa Proteccion Pasiva, S.L.
11.11.12 Temati
11.11.13 Unifrax
11.11.14 Union Foam S.p.A.
11.11.15 Visionary Industrial Insulation

12 Adjacent/Related Markets
12.1 Limitations
12.2 OEM Insulation Market
12.2.1 OEM Insulation Market, Market Overview
12.2.2 OEM Insulation Market, by Material Type
12.2.2.1 Foamed Plastics
12.2.2.2 Mineral Wool/Fiber
12.2.2.3 Other Insulating Material
12.2.3 OEM Insulation Market, by End-use Industry
12.2.3.1 Industrial
12.2.3.2 Building & Construction Industry
12.2.3.3 Oil & Petrochemical Industry
12.2.3.4 Power Generation Industry
12.2.3.5 Food Processing Industry
12.2.3.6 Refrigeration Industry
12.2.3.7 Offshore and Subsea
12.2.3.8 Others
12.2.3.9 Consumer
12.2.3.10 Transportation
12.2.4 OEM Insulation Market, by Region
12.2.4.1 APAC
12.2.4.2 North America
12.2.4.3 Western Europe
12.2.4.4 Central & Eastern Europe
12.2.4.5 South America
12.2.4.6 Middle East & Africa
12.3 High Temperature Insulation Market
12.3.1 High Temperature Insulation Market, by Material Type
12.3.1.1 Ceramic Fibers
12.3.1.2 Insulating Firebricks
12.3.1.3 Calcium Silicate
12.3.2 High Temperature Insulation Market, by Temperature Range
12.3.2.1 600C -1,100C (1,112F-2,012F) Temperature Range
12.3.2.2 1,100C -1,500C (2,012F-2,732F) Temperature Range
12.3.2.3 1,500C -1,700C (2,732F-3,092F) Temperature Range
12.3.2.4 1,700C (3,092F) and Above Temperature Range
12.3.3 8 High Temperature Insulation Materials Market, by End-use Industry
12.3.3.1 Petrochemical
12.3.3.2 Ceramic
12.3.3.3 Glass
12.3.3.4 Aluminum
12.3.3.5 Iron & Steel
12.3.3.6 Cement
12.3.3.7 Refractory
12.3.3.8 Powder Metallurgy
12.3.3.9 Others
12.3.4 High Temperature Insulation Materials Market, by Region
12.3.4.1 APAC
12.3.4.2 North America
12.3.4.3 Europe
12.3.4.4 Middle East & Africa
12.3.4.5 South America

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: The Subscription Portal
13.3 Available Customizations
13.4 Sample Customization (Previous Version)
13.4.1 Netherlands

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