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 in the market
include 3M Company, Armacell International S.A., BASF Polyurethanes GmbH, BNZ
Materials Inc., Cabot Corporation, CECA, Cellofoam North America Inc.,
CertainTeed Corporation, ContiTech AG, DBW Advanced Fiber Technologies GmbH,
Evonik Industries AG, Flumroc AG, G+H Isolierung GmbH, GAF, Glava A/S, Huntsman
Corporation, Industrial Insulation Group LLC, Insulcon Group, Isolatek
International, Inc., Johns Manville, Kingspan Group plc, Knauf Insulation GmbH,
Knauf Insulation Ltd., L’ISOLANTE K-FLEX, Meisei Industrial Co. Ltd., MERSEN
SA, Morgan Advanced Materials, Morgan Advanced Materials Porextherm Dämmstoffe
GmbH, Morgan Thermal Ceramics, Owens Corning, Pacor Inc., Paroc Oy AB,
Pittsburgh Corning Corporation, PPG Industries, Promat International, Rockwool
International A/S, Roxul Inc., Saint-Gobain, Sebald Isosysteme GmbH & Co
KG, Skamol A/S, StyroChem International, Superglass Insulation Ltd., 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).
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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