The Global Market for Industrial Thermal Insulation is Projected to Exceed US$5.7 Billion by 2022

The Critical Need to Conserve Energy, Preserve Environment, and Reduce Energy Spend to Drive Demand for Industrial Thermal Insulation, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Industrial Thermal Insulation market. The global market for Industrial Thermal Insulation is projected to exceed US$5.7 billion by 2022, driven by the critical nature of industrial insulation in safeguarding system performance in various end-use sectors, stringent energy efficiency norms, and surging demand for high temperature insulation materials.

Insulation materials are advanced non-conducting materials intended to isolate a device, equipment or structure from the surrounding atmosphere for sustaining its normal state. The quality of insulators is decided by its R-value, which represents the level of thermal resistance exhibited by the material. The market for industrial thermal insulation encompasses a broad array of applications including industrial machinery insulation; HVAC insulation; insulation used in power generating plants; pipe sheathing and other equipment insulation in oil & gas, petrochemical, chemical, and other process industries; and insulation used in transportation, marine and offshore sectors, among others. In addition to the primary benefits of cost savings and reduction in energy waste, other benefits of industrial thermal insulation materials that are driving steady market adoption include their ability to achieve energy independence; facilitate process control for optimum utilization of manufacturing resources; mitigate emission release in the environment; noise reduction; reduce use of fossil fuels; and ensure safety of workers from fire injuries, among others.

Future growth in the market will be driven by the growing demand for high temperature insulation materials supported by their important role in significantly reducing emissions and energy consumption in a multitude of high temperature processing applications. Increasing non-residential construction activity globally, including the anticipated recovery in Western Europe, is further expected to stimulate demand for industrial thermal insulation materials. The market is also expected to benefit from rising demand for thermal insulation products in the OEM, HVAC and industrial markets as a result of increasing manufacturing activity, installation of HVAC systems and appliance output. Other important growth drivers include rising focus on energy efficiency against a backdrop of depleting fossil fuel resources; growing prominence of green energy and emphasis on curbing environmental pollution and climate; popularity of advanced insulation materials such as vacuum-insulation-panels (VIPs), Nano insulation materials (NIMs), aerogels and phase-change-materials (PCMs); recovering automobiles production, and increasing aircraft deliveries.

As stated by the new market research report on Industrial Thermal Insulation, the United States represents the largest market worldwide, followed by Europe. The growing demand for thermal insulation materials that aid in minimizing energy consumption and maximizing energy efficiency of industrial systems and processes and stringent energy efficiency regulations represent primary growth drivers in the developed markets. Asia-Pacific is forecast to spearhead growth with the fastest CAGR of 6.1% over the analysis period. Key factors poised to drive growth in the region include rising public and private investments in industrial, energy, oil & gas, petrochemical and food and beverage sectors; increased focus of local governments on enhancing the industrial output; legislation of incentives to jumpstart the manufacturing sector, such as, development of SEZs, industrial corridors, and industrial clusters and provision of subsidies and tax cuts for manufacturing groups and industrial corporations.

Key players covered in the report include 3M Company, Armacell, BASF Polyurethanes GmbH, Cabot Corporation, CECA, Cellofoam North America Inc., ContiTech AG, DBW Advanced Fiber Technologies GmbH, Evonik Industries AG, Flumroc AG, G+H Isolierung GmbH, Glava A/S, Huntsman Corporation, Isolatek International Inc., Johns Manville, Kingspan Group plc, Knauf Insulation Ltd., L’ISOLANTE K-FLEX, Promat International, Microtherm N.V., Morgan Thermal Ceramics, Owens Corning, Paroc Oy AB, Porextherm Dämmstoffe GmbH, PPG Industries, Rockwool International A/S, Saint-Gobain, Skamol A/S, The Dow Chemical Company, Unifrax LLC and URSA Insulation, S.A., among others.

The research report titled “Industrial Thermal Insulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, industry overview, trends, growth drivers, latest product launches and recent industry activity. The report provides market estimates and projections for material types including Fibrous, Cellular and Others. Geographic markets analyzed in the report include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America).

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