Global Industrial Insulation Market is valued at approximately USD 8.20 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.1% over the forecast period 2023-2030. Industrial insulation refers to the practice of insulating various components and systems within industrial settings to improve energy efficiency, control temperature, reduce heat transfer, prevent condensation, and enhance safety. It involves the installation of insulating materials on surfaces such as pipes, tanks, boilers, ducts, and equipment in industrial facilities such as factories, power plants, refineries, and chemical processing plants. The Industrial Insulation market is expanding because of factors such as the increasing usage of oil and gas and the rising demand for petrochemicals. By reducing thermal conductivity, insulation helps maintain stable temperatures within industrial processes, improving efficiency and reducing the need for excessive heating or cooling. Its importance has progressively increased during the forecast period 2023-2030.
Oil and gas play a vital role in producing insulation materials with high thermal resistance. These materials help industries conserve energy by reducing heat transfer between hot and cold surfaces. By minimizing heat loss or gain, industrial processes become more energy-efficient, leading to cost savings and reduced environmental impact According to Statista, Sinopec China Petroleum & Chemical Corporation is the world's largest oil and gas firm in terms of revenue. The Chinese state-owned firm made USD 372.5 billion in revenue in fiscal year 2022. Furthermore, ExxonMobil has the world's largest market capitalization of any oil and gas producer. The company's market capitalization was USD 352.79 billion in 2023. Another important factor that drives the Industrial Insulation market is the increasing demand for petrochemicals. Industrial insulation in the petrochemical industry plays a crucial role in maintaining the efficiency, safety, and environmental sustainability of various processes. In addition, as per Statista, Petrochemicals had a global market value of USD 584.5 billion in 2022, reflecting a 5% rise over the previous year. This is expected to rise to more than a trillion dollars by 2030. Moreover, rising technological advancement in industrial insulation and a growing number of populations are anticipated to create lucrative growth opportunities for the market over the forecast period. However, the high cost associated with the installation of insulating materials and technical complexity stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Industrial Insulation Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rapid growth in the automotive, construction, and telecommunications sectors in the region and the implementation of stricter environmental regulations. Furthermore, Europe is expected to grow significantly during the forecast period, owing to factors such as strict codes and laws effectuated by the European regulatory authorities that have increased awareness about rising energy costs and the need for energy efficiency.
Major market player included in this report are:
- Johns Manville
- Rockwool group
- Saint Gobain
- BASF SE
- Polyguard Products, Inc
- Nichias Corporation
- Cabot Corporation
- Knauf Insulation
- Kingspan Group PLC
- Armacell International SA
Recent Developments in the Market:
- In April 2022, Saint-Gobain invested around USD 32 million to boost production capacity by 13% while reducing the carbon impact of its CertainTeed insulation plant in California, USA. The Chowchilla investments were first announced in November as part of a larger USD 400 million expansion of Saint-Gobain's manufacturing facilities in the United States, just months after the company imposed its global Grow and Impact strategy, which includes expanding its presence in key high-growth markets while reducing its environmental footprint.
Global Industrial Insulation Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Material, Form, End-use Industry, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Material
- Mineral Wool
- Plastic Foam
- Others
By Form
- Pipe
- Blanket
- Board
- Others
By End-use Industry
- Power
- Oil and Gas
- Chemical and Petrochemical
- Cement
- Food and Beverage
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Industrial Insulation Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Industrial Insulation Market, by Material, 2020-2030 (USD Billion)
- 1.2.3. Industrial Insulation Market, by Form, 2020-2030 (USD Billion)
- 1.2.4. Industrial Insulation Market, by End-use Industry, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Industrial Insulation Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Industrial Insulation Market Dynamics
- 3.1. Industrial Insulation Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing usage of oil and gas
- 3.1.1.2. Rising demand for petrochemicals
- 3.1.2. Market Challenges
- 3.1.2.1. High cost associated with installation of insulating materials
- 3.1.2.2. Technical complexity
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising technological advancement in industrial insulation
- 3.1.3.2. Growing number of populations
Chapter 4. Global Industrial Insulation Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Industrial Insulation Market, by Material
- 5.1. Market Snapshot
- 5.2. Global Industrial Insulation Market by Material, Performance - Potential Analysis
- 5.3. Global Industrial Insulation Market Estimates & Forecasts by Material 2020-2030 (USD Billion)
- 5.4. Industrial Insulation Market, Sub Segment Analysis
- 5.4.1. Mineral Wool
- 5.4.2. Plastic Foam
- 5.4.3. Others
Chapter 6. Global Industrial Insulation Market, by Form
- 6.1. Market Snapshot
- 6.2. Global Industrial Insulation Market by Form, Performance - Potential Analysis
- 6.3. Global Industrial Insulation Market Estimates & Forecasts by Form 2020-2030 (USD Billion)
- 6.4. Industrial Insulation Market, Sub Segment Analysis
- 6.4.1. Pipe
- 6.4.2. Blanket
- 6.4.3. Board
- 6.4.4. Others
Chapter 7. Global Industrial Insulation Market, by End-use Industry
- 7.1. Market Snapshot
- 7.2. Global Industrial Insulation Market by End-use Industry, Performance - Potential Analysis
- 7.3. Global Industrial Insulation Market Estimates & Forecasts by End-use Industry 2020-2030 (USD Billion)
- 7.4. Industrial Insulation Market, Sub Segment Analysis
- 7.4.1. Power
- 7.4.2. Oil and Gas
- 7.4.3. Chemical and Petrochemical
- 7.4.4. Cement
- 7.4.5. Food and Beverage
- 7.4.6. Others
Chapter 8. Global Industrial Insulation Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Industrial Insulation Market, Regional Market Snapshot
- 8.4. North America Industrial Insulation Market
- 8.4.1. U.S. Industrial Insulation Market
- 8.4.1.1. Material breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Form breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End-use Industry breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Industrial Insulation Market
- 8.5. Europe Industrial Insulation Market Snapshot
- 8.5.1. U.K. Industrial Insulation Market
- 8.5.2. Germany Industrial Insulation Market
- 8.5.3. France Industrial Insulation Market
- 8.5.4. Spain Industrial Insulation Market
- 8.5.5. Italy Industrial Insulation Market
- 8.5.6. Rest of Europe Industrial Insulation Market
- 8.6. Asia-Pacific Industrial Insulation Market Snapshot
- 8.6.1. China Industrial Insulation Market
- 8.6.2. India Industrial Insulation Market
- 8.6.3. Japan Industrial Insulation Market
- 8.6.4. Australia Industrial Insulation Market
- 8.6.5. South Korea Industrial Insulation Market
- 8.6.6. Rest of Asia Pacific Industrial Insulation Market
- 8.7. Latin America Industrial Insulation Market Snapshot
- 8.7.1. Brazil Industrial Insulation Market
- 8.7.2. Mexico Industrial Insulation Market
- 8.8. Middle East & Africa Industrial Insulation Market
- 8.8.1. Saudi Arabia Industrial Insulation Market
- 8.8.2. South Africa Industrial Insulation Market
- 8.8.3. Rest of Middle East & Africa Industrial Insulation Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Johns Manville
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Rockwool group
- 9.3.3. Saint Gobain
- 9.3.4. BASF SE
- 9.3.5. Polyguard Products, Inc
- 9.3.6. Nichias Corporation
- 9.3.7. Cabot Corporation
- 9.3.8. Knauf Insulation
- 9.3.9. Kingspan Group PLC
- 9.3.10. Armacell International SA
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption