Industrial Insulation Market Set to Soar Past USD 13.16 Billion by 2030
The global Industrial Insulation market size is expected to reach USD 13.16 billion by 2030 and exhibit a CAGR of 5.8% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing emphasis on energy efficiency in industrial processes which drives the demand for insulation materials to reduce heat loss and energy consumption. Stricter environmental regulations and sustainability goals are prompting industries to adopt insulation solutions that minimize greenhouse gas emissions and reduce carbon footprint, fueling the market’s growth.
Westford, USA, Feb. 01, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Industrial Insulation market, increasing adoption of advanced insulation materials and technologies, such as aerogels and vacuum insulation panels, to achieve higher levels of thermal efficiency while reducing the thickness of insulation layers. The industry is also witnessing a growing focus on sustainability, with the use of eco-friendly insulation materials and systems to meet environmental standards and green building certifications are the trends that aid in the market’s growth.
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Browse in-depth TOC on “Industrial Insulation Market”
- Pages – 157
- Tables – 92
- Figures – 74
Industrial insulation uses materials to reduce heat transfer between a system and its surroundings. It is used in a wide variety of industrial applications.
Prominent Players in the Industrial Insulation Market
- Johns Manville
- Owens Corning
- Rockwool International
- Saint-Gobain
- Armacell
- Isover
- Knauf Insulation
- URSA Insulation
- Paroc
- Kingspan Group
- Promat International
- Nichirei
- Nippon Steel & Sumitomo Metal Corporation (NSSMC)
- Isoglass Products
- Johns Manville Insulations (JMI)
- Armacell International
- Pittsburgh Corning
- Industrial Insulation Group
- Thermal Ceramics
- Roxul Inc.
- CertainTeed Corporation
- Dow Chemical Company
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Fiberglass Demand to Grow Substantially in the Forecast Period
Fiberglass dominates the global online market as it is favored for their thermal insulating properties, fire resistance, and affordability. Fiberglass insulation is widely used in various industries and applications due to its effectiveness in reducing heat transfer and maintaining temperature control. Its versatility and cost-effectiveness contribute to its dominance.
Thermal insulation is the Leading Application Segment
Thermal insulation is a core application segment that drives sales in the industrial insulation market. Maintaining temperature control and reducing heat transfer are fundamental requirements in many industrial processes. Industries such as oil and gas, petrochemicals, and manufacturing rely heavily on thermal insulation to conserve energy, enhance process efficiency, and ensure product quality. Energy efficiency and cost savings are key drivers for thermal insulation.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has highly developed industrial sector, extensive manufacturing activities, and a strong emphasis on energy efficiency and sustainability. Regulatory requirements for energy conservation and emissions reduction have driven the adoption of industrial insulation in various industries. Additionally, the renovation and retrofitting of existing industrial facilities to improve energy efficiency have contributed to market growth
A recent report thoroughly analyzes the major players operating within the Industrial Insulation market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Industrial Insulation.
Key Developments in Industrial Insulation Market
- Owens Corning made a significant announcement regarding the acquisition of Natural Polymers, LLC. Natural Polymer is a manufacturer based in Cortland, Illinois, specializing in spray polyurethane foam insulation for building and construction applications. This strategic acquisition enables Owens Corning to expand its product offerings and enhance its presence in the insulation market.
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Key Questions Answered in Industrial Insulation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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