Global Industrial Insulation Market by Raw Material (Stone Wool, Glass Wool), by Product (Blanket, Board, Pipe) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global industrial insulation market was valued at USD 7.24 Billion in 2019. It is expected to grow at a 5.1% CAGR in terms of revenue over the forecast period. The major driver of growth is expected to be an increase in product demand, which will allow for better equipment efficiency and improve process performance across all application industries.

Insulation reduces heat transfer from the equipment system. It also improves machine performance and makes manufacturing more efficient. Insulation provides frost protection for pipelines at low temperatures, making it suitable to transport equipment. Market growth will be boosted by rising demand and availability at affordable prices.

From 2020 to 2027, the U.S. industrial insulation market is expected to grow at 3.7% CAGR. The growth is expected to be driven by factors such as ongoing global warming efforts and related programs in the United States, and the increasing demand for repair and replacements of existing insulation systems.

The major raw materials for product manufacturing are crude oil derivatives. Market growth will be impeded by fluctuations in crude oil prices. Political turmoil in major oil-producing countries like Qatar, Libya, and Iraq will likely further lower crude oil prices.

Thermal insulation is an efficient and cost-effective design for industrial equipment. It eliminates the need to heat and reduces operating costs. Market growth will be aided by manufacturers providing materials that increase the product's life span and performance.

Manufacturers can source raw materials directly from suppliers or through third-party distributor agencies. To avoid volatility in raw materials prices, these manufacturers make long-term deals with suppliers. To provide optimal solutions via direct or third-party distribution, they also develop strategic relationships with distributors.

Material Insights

For product manufacturing, industrial insulation materials like stone wool, glass wool and CMS fiber, as well as cellular glass and foamed plastic are used. This reduces energy consumption in different industrial processes. The primary factor that influences system efficiency is the selection of raw material.

The revenue segment for stone wool is expected to grow at 6.3% CAGR between 2020 and 2027. The segment's growth is expected to be aided by the easy availability of stone wool in a variety of forms and with different properties and characteristics to suit various applications such as ovens and boilers.

The growth in calcium silicate's use as an alternative to asbestos in high-temperature applications is expected to result in a 5.9% CAGR in revenue between 2020 and 2027. The material is also highly sought-after in high-temperature pipes and industrial-grade equipment. This will help to drive the industrial insulation market's growth over the forecast period.

Foamed plastic is expected to see a rise in demand in the industrial sector due to its superior properties, including sound absorption, light weight, and quakeproof. Foamed plastics can also resist chemicals and moisture making them an ideal insulation material. Material has a superior dielectric strength making it an ideal material for industrial insulation.

Product Insights

Industrial applications use insulation products such as pipe, board, blanket and other materials to improve the reliability and efficiency. Corrosion inhibition properties are a feature of raw materials used for product manufacturing. This helps prevent corrosion of pipes or other equipment.

There are many types of industrial insulation, but pipe insulation is the most popular. In 2019, this product segment represented 46.16% market share and will continue to dominate the market over the forecast period. The product will continue to grow due to its increasing use in heat conservation, fireproofing and soundproofing.

Pipe insulation provides acoustic protection by reducing noise and vibration along the pipe. These products are able to help mechanical systems operate within the required limit and reduce emissions of pollutants. The pipe insulation products allow the system to function at different temperatures, from cryogenic to reactive, which results in high demand from the industries that use them.

The revenue growth rate for blanket insulation is expected to be 5.3% over the forecast period. It has excellent handling properties, thermal performance, as well as dimensional stability for industrial applications. It is used in storage tanks, heat exchangers, cooling towers, stack installations, and other industrial applications.

Application Insights

The stringent government regulations that aim to reduce greenhouse gas emissions will likely boost demand for applications such as power generation and Petrochemicals. The segment is expected to grow due to various benefits, including energy conservation. In 2019, the EIP industry application segment was worth USD 2.20 billion and is expected to grow significantly over the forecast period. Growth is expected to be driven by the expansion of the manufacturing sector and the application of strict regulatory norms around the world.

A vast infrastructure of storage and transportation infrastructure has been established to meet the growing demand for natural gas and petroleum gas around the world. The high risk associated with transporting and storing these products has led to large-scale usage by industry players, which will continue to drive the segment's growth.

The LPG and LNG industries are expected to see a higher demand for insulation in transportation pipes. This will lead to segment growth. Markets for LNG and HTML3_ LPG HTML3_ are expected to experience a steady growth across major economies. This will fuel the need for industrial insulation in the future.

Regional Insights

Europe was worth USD 2.5 billion in 2019. It is projected to experience exponential growth during the forecast period. The strict regulations governing insulation have been enforced by European governments. This has led to increased awareness of rising energy costs and the need to improve energy efficiency. The technological advances in oil extraction, the availability of feedstock, developed infrastructure and a strong base in supporting services have all contributed to the rapid expansion of the oil and gas industry. This has been estimated to be a major factor in driving the demand for power generation and oil and natural gas industries in the region.

North America is expected to experience significant growth during the forecast period due to the implementation of new provincial building code in many provinces that addresses energy consumption in commercial buildings. The regional market is expected to grow due to increased demand for high quality products to lower carbon emissions. The growth is expected to be boosted by the increasing number of American recovery projects, especially in the commercial segment. Due to its ability to lower energy consumption, there is expected to be a rise in awareness about environment-friendly building practices in the country.

Industry Insulation Market Share Insights

Market players are numerous. Due to their extensive product range and greater geographical reach, major players such as Rockwool Technical Insulation and Paroc Group hold the majority market share. Armacell, a large player in the market, expands its customer base through acquisitions and other business strategies. Polipex Industria e Comercio Ltda is an international company that produces extruded polyethylene insulation. This acquisition is expected to increase competition in order to gain a greater market share.

Industrial Insulation Market Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends for each segment from 2016 through 2027. Grand View Research has divided the global industrial insulation market report by raw material, product type, application, region, and purpose.

• Material Outlook (Volumes, Kilotons and Revenue, USD Millions, 2016-2027)

  • Stone wool

  • Glass wool

  • CMS Fibers

  • Calcium silicate

  • Cellular Glass

  • Foamed Plastic

  • Elastomeric Foam

  • Perlite

  • Aerogel

  • Cellulose

  • Micro Silica

  • Other

• Product Outlook (Volume of Kilotons, Revenues, USD Million, 2016-2027)

  • Pipe

  • Board

  • Blanket

  • Other

• Application Outlook (Volume of Kilotons, Revenues, USD Million, 2016-2027)

  • Power Generation

  • Petrochemical & Refineries

  • EIP Industries

  • LNG/LPG

  • Other

• Regional Outlook (Volume of Kilotons, Revenues, USD Millions, 2016-2027)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

    • Poland

    • Spain

    • Italy

    • Benelux

    • Nordic

    • CIS

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Indonesia

    • Malaysia

    • Thailand

    • Vietnam

  • Central & South America

    • Brazil

    • Argentina

    • Colombia

  • Middle East & Africa

    • GCC

    • Turkey

These are the most frequently asked questions about this report

b. Global industrial insulation market was valued at USD 7,245.1 Million in 2019. It is projected to grow to USD 7,597.8 in 2020.

b. Global industrial insulation market will grow at a 5.1% compound annual growth rate from 2020 to 2027, to reach USD 10,585.5 millions in 2027.

b. With a 34.6% share in 2019, Europe was the market leader in industrial insulation. The strict regulations governing insulation that European governments have implemented has led to increased awareness of rising energy costs and the need to improve energy efficiency.

b. Among the key players in the industrial insulation market are Paroc Group, Rockwool Technical Insulation and Knauf Gips KG.

b. The growth of the industrial insulation market is driven by the growing demand for products that improve the efficiency and performance of equipment in the power generation and LPG industries.

Up Market Research published a new report titled “Industrial Insulation Market research report which is segmented by Raw Material (Stone Wool, Glass Wool), by Product (Blanket, Board, Pipe), By Players/Companies Rockwool Technical Insulation, Knauf Gips KG, Paroc Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Industrial Insulation Market Report Segments:

The market is segmented by Raw Material (Stone Wool, Glass Wool), by Product (Blanket, Board, Pipe).

Industrial Insulation Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Industrial Insulation Market

Overview of the regional outlook of the Industrial Insulation Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Industrial Insulation Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Industrial Insulation Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Stone Wool

                2. Glass Wool

                1. Blanket

                2. Board

                3. Pipe

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Industrial Insulation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Industrial Insulation Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.