Industrial Insulation Overview
Insulation is a process of reducing the rate of heat transfer by controlling surface temperature for personnel protection. It controls and stabilizes the industrial temperature through pipes, vessels, storage tanks, boilers and many others. Insulation helps to control noise and variation to encase piping mechanism.
Insulation prevents condensation which could otherwise cause corrosion on cold surface. Thermal insulation is primarily used for industrial processes and plant applications such as insulating pipework, tanks, chimneys and other equipment & filters, to increase their efficiency and reliability. Calcium silicate is a standout amongst the most generally utilized materials used for industrial protection, principally for heat protection. The physical properties enable it to be formed into various shapes and can be fortified with different materials with the end goal to get enhanced property of protection. The calcium silicate based modern protections can perform successfully by supporting through the temperature over 650°C. The other material utilized for mechanical protection is mineral fiber, which incorporates glass filaments, fiber shake slag, cell glass, perlite and others. These materials are changed into sheets and are connected to the coveted surfaces. Industrial Insulation can be used for various purposes such as reducing energy costs, temperature control in processing equipment, increasing the productivity of workers in factories, commercial buildings etc. It also reduces the consumption of natural resources.
Market Size and Forecast
The global industrial insulation market was valued at USD 3,058.5 million in 2017 and is projected to reach USD 5,118.5 million by 2027 and is expected to showcase a significant CAGR of 5.6% during the forecasted period 2018-2027. Additionally, the global Industrial Insulation market is thriving on the back of exhibiting increasing application in construction and building industries, to reduce the effect of global warming, offering comfort at extreme temperatures. In terms of regional platform, demand for industrial insulation in the North America region is anticipated to propel the growth of overall global Industrial insulation market over the forecast period. Factors such as increasing demand for stone wool glass wool, CMS fibers, calcium silicate etc. are expected to cause an increase in demand for industrial insulation. Europe is anticipated to contribute a significant CAGR during the forecast period. Increasing power generation and EIP industries are key factors which are driving the growth of industrial insulation market in Europe region. Asia Pacific insulation market demand will witness fastest growth over the forecast period. Emerging economies notably Malaysia, Vietnam and Indonesia are expected to invest substantially in new infrastructure projects, funded by both public & private investment. Increasing demand for new residential construction owing to rise in per-capita disposable income will propel product application rate. In addition, high urbanization and development in populace combined with high industrialization rates in developing markets, for example, South Africa, India, China, and Brazil have moved the requirement for better modern and private framework. Moreover, rising vitality expenses and government activities to enhance vitality productivity is relied upon to trigger the interest for protecting items in mechanical and private structures; along these lines, prompting the extension of the insulation market.
Market Segmentation
Our in-depth analysis segmented the global industrial insulation market in the following segments:
By Product
- Stone Wool Glass Wool
- CMS Fibers
- Calcium Silicate
- Foamed Plastic
- Aerogel
- Micro Silica
By Application
- Power Generation
- Petrochemical
- EIP Industries
- LNG/LPG
By Type
- Thermal Insulation
- Acoustic Insulation
- Moisture Proof
- Others
By Region
Global Industrial Insulation market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers and Challenges
Expanding application in building and construction industries, to reduce the impact of an unnatural weather change, offering solace at extreme temperatures. It is majorly used for private lodging, retail locations, business workplaces, cool stores, sustenance preparing plant and open organization like healing facilities and school. Developing interest for better framework and building and rising mindfulness among the shopper in regards to the advantages of mechanical protection is developing the market for modern protection over the forecasted time period.
Rapid urbanization along with positive GDP figures of developed and developing nations such as U.S., China and others are projected to flourish the growth of industrial insulation market in power generation and petro-chemical industry. In addition to this, favorable government initiatives and regulations regarding the benefits of individual safety while using thermal insulation products is anticipated to fuel the growth of industrial insulation market.
In contrast, lack of consumer awareness regarding the benefits of the applications in construction and infrastructure, is restricting the usage of industrial insulation products. Also, the usage of phenolic & PU foams as blowing agents are known to cause environmental hazards. Stringent government regulations by REACH to reduce the use of these toxic substances in insulation materials are expected to pose restrict the demand for the product in the market.
Top Featured Companies Dominating The Market
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- Refractory Specialties Incorporated
- Berkshire Hathaway Incorporated
- Knauf Insulation Sprl (Knauf Group)
- Pacor, Inc.
- Temati
- STI Co., Ltd
- Rockwool International A/S
- Owens Corning Corporation
