Global Industrial Insulation Market

Industrial Insulation Market Size, Share, Growth Analysis, By Material Type (Stone Wool, CMS Fibres), By Form (Pipe, Board), By Application (LNG/LPG, Power generation), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2468 | Region: Global | Published Date: August, 2024
Pages: 184 | Tables: 68 | Figures: 75

Industrial Insulation Market News

  • In January 2024, Owens Corning announced the launch of its new industrial insulation product line, EcoTouch® PIR (polyisocyanurate) Insulation. This high-performance insulation material is designed to provide superior thermal efficiency and fire resistance for industrial applications, such as HVAC systems and industrial equipment. 

  • In November 2023, Saint-Gobain Isover unveiled its new industrial insulation material, ISOVER ULTIMATE, which is made from sustainable and recyclable glass wool. This material offers superior thermal and acoustic insulation properties, as well as resistance to moisture and corrosion, making it suitable for various industrial applications.  

  • In September 2023, Johns Manville introduced its latest industrial insulation solution, Microlite® FSK (Foil-Scrim-Kraft) Formaldehyde-Free™ Duct Wrap. This product offers enhanced thermal performance and indoor air quality benefits, making it ideal for HVAC duct insulation in industrial and commercial buildings. 

  • In August 2023, 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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Global Industrial Insulation Market size was valued at USD 8.40 Billion in 2022 and is poised to grow from USD 8.89 Billion in 2023 to USD 13.95 Billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).

The Global Industrial Insulation Market is highly competitive and consists of several key players. These companies compete based on factors such as product offerings, technological advancements, pricing, and distribution network. '3M Company (US) ', 'Owens Corning (US) ', 'Rockwool International A/S (Denmark) ', 'Knauf Insulation (Germany) ', 'Saint-Gobain S.A. (France) ', 'Armacell International S.A. (Luxembourg) ', 'Kingspan Group plc (Ireland) ', 'Huntsman Corporation (US) ', 'Recticel N.V. (Belgium) ', 'Aspen Aerogels Inc. (US) ', 'Johns Manville Corporation (US) ', 'Nichias Corporation (Japan) ', 'Izocam Ticaret ve Sanayi A.Ş. (Turkey) ', 'Thermax Limited (India) ', 'NMC SA (Luxembourg) ', 'L'ISOLANTE K-FLEX S.p.A. (Italy) ', 'GAF Materials Corporation (US) ', 'Unifrax I LLC (US) ', 'Freudenberg Group (Germany) ', 'Honeywell International Inc. (United States) ', 'Aditya Birla Group (India) ', 'BASF SE (Germany)'

The increasing focus on energy efficiency and sustainability is a major driver for the industrial insulation market. Governments and regulatory bodies worldwide are implementing stringent regulations to reduce energy consumption and greenhouse gas emissions. Industrial insulation plays a crucial role in reducing heat transfer and improving energy efficiency in industrial processes. For example, the European Union's Energy Performance of Buildings Directive (EPBD) mandates the use of insulation materials to improve the energy performance of buildings and industrial facilities.

Increasing Demand for Fire-resistant Insulation: There is a growing demand for fire-resistant insulation materials in industrial applications. Fire safety regulations and the need to protect industrial facilities from fire hazards are driving the adoption of fire-resistant insulation solutions. For example, in the oil and gas industry, where fire risks are high, the use of fire-resistant insulation materials such as mineral wool or calcium silicate is crucial to enhance safety.

North America currently dominates the industrial insulation market, owing to the presence of a large number of key players, robust industrial sector, and stringent energy efficiency regulations. In 2023, the region accounted for approximately 38.25% of the global market share. The United States, in particular, is a major contributor to the North American industrial insulation market, thanks to the country's focus on energy-efficient infrastructure and increasing investments in industrial activities. 

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Global Industrial Insulation Market

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