Global industrial thermal
insulation market is forecast to exhibit a CAGR of over 7% during 2019-2024,
growing from $ 6.41 billion in 2018 to $ 9.85 billion by 2024, owing to expanding
industrial sector and stringent safety and emission norms. Insulation
is defined as the process of using a material or a compound made up of
different materials that are capable of restricting the flow of thermal or heat
energy. Thermal insulation has become essential in industries for
safety and for reducing heat loss during the manufacturing process. Industrial
thermal insulation helps in increasing the sustainability of manufacturing
processes. The rising demand in industrial refrigeration to prevent
condensation and development in high temperature insulation wools is expected
to positively influence the market during forecast period.
In terms of material,
global industrial thermal insulation market has been categorized into calcium
silicate, mineral fiber, foamed plastic, perlite, cellular glass and others. Of
these segments, cellular glass accounted for a significant portion of the
global industrial thermal insulation market in 2018, owing to their broad
service temperature range, which is around 35⁰C to 815⁰C. Furthermore, the
perlite category is expected to grow at a steady rate during the forecast
period, on account of their heavy use in several industrial applications.
North America and
Europe are the largest markets for industrial thermal insulation, globally. The
growth of thermal industrial insulation market in these regions can be majorly
attributed to their highly developed power and industrial sectors. Among the
countries of the North American and European regions, US and United Kingdom are
anticipated to hold significant shares in their respective regions. Moreover,
Asia-Pacific is expected to register growth in global industrial thermal
insulation market in coming years, backed by expanding industrial sector in developing
nations. Developing countries such as China and India are expected to register significant
growth during the forecast period. Oil & gas industry in the Middle East
& Africa is likely to attract major players for making investments in the
region’s industrial thermal insulation market.
Global industrial
thermal insulation market boasts the presence of numerous players manufacturing
and catering their products in regional and global market. The key
manufacturers are focusing on expanding their product portfolio by strategic
acquisitions & mergers, joint ventures, product launches, and exclusive
agreements. Few of the major companies operating in the market are Rockwool A/S, Paroc Group Oy,
The 3M Company, NICHIAS Corporation and TechnoNICOL Corporation.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the
Study:
- To analyze and forecast global industrial thermal insulation market
size.
- To forecast global industrial thermal insulation market based
on material, product form, end use industry and regional distribution.
- To identify drivers and challenges for global industrial thermal
insulation market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., In global industrial thermal
insulation market.
- To conduct the pricing analysis for global industrial thermal
insulation market.
- To identify and analyze the profile of leading players operating in
global industrial thermal insulation market.
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Some of the leading players in global industrial
thermal insulation market are Rockwool
A/S, Paroc Group Oy, The 3M Company, NICHIAS Corporation, TechnoNICOL
Corporation, Evonik Industries AG, Pittsburgh Corning Corporation, Armacell
Enterprise GmbH & Co. KG, Cabot Corporation and BASF SE.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of industrial thermal insulation manufacturers across the globe.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research was able to include
the manufacturers which could not be identified due to the limitations of secondary
research. TechSci Research analyzed the product offerings, distribution
channels and presence of all major manufacturers across the globe.
TechSci Research calculated global industrial thermal
insulation market size
using a top
down approach, where data for various applications
across various end-user segments was recorded and forecast for the future years.
TechSci Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of
these product types and applications for getting an appropriate, overall market
size. Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target
Audience:
- Industrial thermal
insulation manufacturers and other stakeholders
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to industrial thermal insulation market
- Market research and
consulting firms
The study is useful in providing answers
to several critical questions that are important for industry stakeholders such
as manufacturers, suppliers and end users. The study would also help them in
identifying which market segments should be targeted over the coming years in
order to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, global industrial
thermal insulation market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, by Material
- Calcium Silicate
- Mineral Fiber
- Foamed Plastic
- Perlite
- Cellular Glass
- Others
- Market, by Product
Form
- Rigid Foam/Foam Board
- Flexible Foam
- Sprayed Foam
- Loose Fillers
- Others
- Market, by End
Use Industry
- Petrochemical & Refineries
- Pharma & Biotechnology
- Power Generation
- Aerospace & Defense
- Automotive
- Others
- Market, by Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Iran
Competitive
Landscape
Company Profiles: Detailed analysis of the
major companies present in global industrial thermal insulation market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect
sales channel.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com