Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Chemical & Petrochemical, Oil & Gas, Cement, Food & Beverage), and Region - Global Forecast to 2024
[132 Pages Report] Industrial insulation can be defined as materials with high thermal and acoustic resistance, which serves the purpose of process temperature control, condensation prevention, corrosion resistance, and vibration reduction. The temperature range in which these insulation materials function is between 00C to 8000C (32˚F to 1,472˚F). These materials are classified into mineral wool, plastic foams, calcium silicate, and others. Industrial insulation is used in several industries, ranging from power to oil & gas and petrochemical.
The industrial insulation market size is estimated to be USD 2.62 billion in 2019 and is projected to reach USD 3.34 billion by 2024, growing at a CAGR of 5.0%. The growing demand for electricity due to the increasing population and industrialization in emerging economies is expected to drive the market between 2019 and 2024. Additionally, rapid urbanization and stringent regulations regarding energy conservation applicable to various industries such as chemical & petrochemical and cement are likely to propel the industrial insulation market demand during the next five years.
By material, mineral wool to be the largest segment of the overall industrial insulation market
Mineral wool is the largest type of industrial insulation material used in high-temperature applications in power, oil & gas, and other industries. Exceptional temperature sustainability, recyclability, long term stability, and availability in different forms such as boards, pipes, and blanket result in extensive usage of mineral wool in diverse end-use industries. Mineral wool, calcium silicate, plastic foams, and other materials are used in various end-use industries such as power, oil & gas, chemicals & petrochemicals, cement, and food & beverages
By end-use industry, power industry to account for the largest market share during the forecast period
The power segment accounted for the largest market share in terms of the value of the overall market in 2018. Major factors driving the growth of the industrial insulation market include urbanization, industrialization, and stringent regulations about energy conservation in developing economies of China, India, Brazil, and South Africa. Additionally, change in environment conservation policies in developed economies such as Germany, the UK, Canada, and the US has led to the transition from fossil fuel sources to non-carbon sources such as nuclear, concentrated solar, or biofuel sources for generating electricity, which subsequently led to a stable rise in use of industrial insulation in these countries.
Industrial insulation market in APAC to register the highest CAGR during the forecast period
APAC registered the highest CAGR for industrial insulation, in terms of value, in 2018, and will continue to do so during the forecast period. This growth is primarily attributed to the fast-paced expansion of the economies in APAC. The emerging regions witness rapid industrialization, urbanization, economic growth, change in taste and preferences of consumers, and increasing awareness about energy conservation, which mandates the need for industrial insulation. Key market players in this region have adopted strategies such as merger & acquisition and investment & expansion to maintain their position in the market. The key players are also investing in R&D capabilities to develop new and technically advanced solutions to satisfy fluctuating demands from end-use industries.
Market Dynamics
Driver: Strict regulations mandating the use of insulation materials for energy conservation
Regulations mandating energy conservation and energy efficiency necessitate the use of insulation materials in end-use industries such as power, chemical & petrochemical, oil & gas, cement, and food & beverages. Standards set by associations such as the American Society for Testing and Materials (ASTM), the American Society of Mechanical Engineers (ASME), the American Boiler Manufacturers Association (ABMA), among others, develop, revise, and implement minimum energy conservation standards for the equipment in every industry. To comply with these regulations and increase energy efficiency, insulation materials such as mineral wool, calcium silicate, and others are used to cover pipes, equipment, ducts, and tanks. Similar energy conservation efforts in other industries such as oil & gas, chemical & petrochemical, cement, and food & beverages also boost the demand for industrial insulation materials.
Restraint: Fluctuation in availability and prices of raw material
Fluctuation in raw material prices of plastic foams is a significant restraint to the growth of the insulation materials market. Plastic foams such as polyurethane foams, polystyrene foams, and others are crude oil-based products and, thus, fluctuations in pricing and availability of crude oil is a significant limitation in their production and use. The availability of crude oil-based products such as polymers, elastomers, and others depend on the import and production scenario of various countries. Environment protection laws and regulations limit the use of hydrocarbon-based products in different European economies. This limits the availability of raw materials used in the production of foams, which are used as insulation in various industries. Also, the laws and their implementation vary from country to country.
Opportunity: Increased infrastructure spending in emerging economies
Infrastructural development in economies such as China, India, Brazil, South Korea, and so on will boost the consumption of insulation materials in the coming years. According to the World Bank, emerging economies need to spend around 4.5% of GDP to achieve their sustainable development goals. Infrastructural growth related to electricity demand, clean water demand, fuel demand, transportation demand, and construction demand are going to boost the market for industrial insulation in the next five years. Increasing urbanization, growing per capita income, and rising population will be the major factors driving infrastructural spending in emerging economies such as China, India, Malaysia, and Vietnam.
Challenge: High capital cost and lack of skilled labor for installation
The capital cost for the installation of insulation materials is quite high, owing to the requirement of separate clearances, regulation citing, and skilled labor. Knowledge and experience are both required to achieve proper insulation in pipes, tanks, equipment, and boilers. Inadequate insulation of fittings, tanks, boilers, and other machinery can result in very high energy losses and may cost hundreds of thousands of dollars to the installation, annually. The R-value or maximum thermal performance of any insulation is dependent on proper installation. Various regulations and codes such as the Building Code, the American Society of Heating, Refrigerating and Air-Conditioning Engineers Standards (ASHRAE), the Quality Standards for Mechanical Insulation, and others guide contractors on proper installation of insulation materials which enable efficient operation and longer lifespan of particular machinery and fittings.
Scope of the Report:
|
Report Metric |
Details |
|
Market size available for years |
2017–2024 |
|
Base year considered |
2018 |
|
Forecast period |
2019–2024 |
|
Forecast units |
USD Million (Value) |
|
Segments covered |
Form, Material, End-use Industry, and Region |
|
Geographies covered |
North America, APAC, Europe, Middle East & Africa, and South America |
|
Companies covered |
Owens Corning (US), Saint Gobain (France), Kingspan Group PLC (Ireland), Knauf Insulation (Belgium), Rockwool Group (Denmark), Johns Manville (US), Armacell International (Luxembourg), Cabot Corporation (US), Johns Manville (US), Insulcon B.V. (Netherlands) |
This research report categorizes the industrial insulation market based on form, material, end-use industry, and region.
Based on form
- Pipe
- Blanket
- Board
- Others
Based on material
- Mineral Wool
- Calcium Silicate
- Plastic foams
- Others (Microporous, aerogel, natural fibers)
Based on end-user industry
- Power
- Chemical & Petrochemical
- Oil & Gas
- Cement
- Food & Beverage
- Others (Pharmaceutical, marine, metal processing)
Based on region
- Europe (UK, Germany, France, Spain, Italy, Poland, Russia, RoE)
- North America (US, Canada, Mexico)
- APAC (China, Japan, South Korea, India, Australia, Indonesia, Vietnam, Rest of APAC)
- Middle East & Africa (Iran, Saudi Arabia, South Africa, Egypt, Rest of the Middle East and Africa)
- South America (Brazil Argentina, Colombia, Rest of South America)
Key Market Players
Owens Corning (US), Saint Gobain (France), Kingspan Group PLC (Ireland), Knauf Insulation (Belgium), Rockwool Group (Denmark)
Recent Developments
- In November 2018, Knauf opened an innovation center under the name, Knauf Insulation Experience Center in Slovenia. This investment enabled Knauf to provide customized and innovative solutions to its customers.
- In October 2018, Saint Gobain acquired Kaimann, a European manufacturer of elastomeric products. This transaction strengthened its position in the European industrial insulation market.
- In June 2018, Rockwool invested USD 150 million for a 460,000 sq. Ft. stone wool manufacturing facility at Ranson, West Virginia. This investment will increase the production capacity of Rockwool and enable it to meet the increasing demand.
- In April 2018, Owens Corning acquired Guangde SKD Rock Wool Manufacture Company Limited, a Chinese mineral wool manufacturer. This acquisition increased the production capacity of Owens Corning to meet the increasing demand for industrial insulation in China.
- In March 2018, Kingspan invested in the manufacturing facility of Kooltherm, a phenolic insulation material, in Sweden. The strategic location of the plant is beneficial for the future growth of the firm.
Key questions addressed in this report
- What are the upcoming hot bets for the industrial insulation market?
- How are the market dynamics for different types of industrial insulation?
- What are the significant trends in the end-use industry influencing the market?
- Who are the major manufacturers of industrial insulation?
- What are the factors governing the industrial insulation market in each region?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Industrial Insulation Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 20)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Industrial Insulation Market
4.2 Industrial Insulation Market, By Material
4.3 Industrial Insulation Market, By Form
4.4 Industrial Insulation Market, By End-Use Industry
4.5 Industrial Insulation Market, By Region
4.6 APAC Industrial Insulation Market, By End-Use Industry and Country
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Power and Energy Requirements in Emerging Economies Owing to Rapid Industrialization and Urbanization
5.2.1.2 Strict Regulations Mandating Use of Insulation Materials for Energy Conservation
5.2.2 Restraints
5.2.2.1 Fluctuation in Availability and Prices of Raw Material
5.2.2.2 Low Awareness About Industrial Insulation and Increase in Use of Renewable Energy Sources
5.2.3 Opportunities
5.2.3.1 Increased Infrastructure Spending in Emerging Economies
5.2.4 Challenges
5.2.4.1 High Capital Cost and Lack of Skilled Labor for Installation
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threats of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Industrial Insulation Market, By Material (Page No. - 39)
6.1 Introduction
6.2 Mineral Wool
6.2.1 Increased Need for Energy Saving Solutions is Driving the Demand for Mineral Wool
6.3 Calcium Silicate
6.3.1 Demand for Calcium Silicate Insulation is Driven By Low Cost
6.4 Plastic Foams
6.4.1 APAC is Projected to Be the Fastest-Growing Market for Plastic Foams
6.5 Others
7 Industrial Insulation Market, By Form (Page No. - 45)
7.1 Introduction
7.2 Pipe
7.2.1 Pipe Form of Industrial Insulation is Widely Used in Various Industries to Enhance Energy Efficiency
7.3 Blanket
7.3.1 Easy Fabrication and Lightweight Property are Fueling the Demand for Blanket Insulation
7.4 Board
7.4.1 Board Insulation is Widely Used in Various Applications for thermal and Acoustic Insulation
7.5 Others
8 Industrial Insulation Market, By End-Use Industry (Page No. - 49)
8.1 Introduction
8.2 Power
8.2.1 Rapid Urbanization and Industrialization are Increasing the Demand for Electricity
8.3 Chemical & Petrochemical
8.3.1 Increase in Demand for Petrochemicals in Various Industries is Driving the Consumption of Industrial Insulation
8.4 Oil & Gas
8.4.1 Increase in Demand for Energy in Emerging Economies is Driving the Industrial Insulation Market in the Oil & Gas Sector
8.5 Cement
8.5.1 Construction Activities in Emerging Economies are Boosting the Market for Industrial Insulation in the Cement Industry
8.6 Food & Beverage
8.6.1 Necessity for Efficient Operations in the Food & Beverage Industry is Expected to Propel the Demand for Industrial Insulation
8.7 Others
8.8 Top Industry vs Top Country Mapping
9 Industrial Insulation Market, By Region (Page No. - 57)
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The Petrochemical and Power Industries are Generating High Demand for Industrial Insulation
9.2.2 Canada
9.2.2.1 Abundant Availability of Feedstock is Boosting the Demand for Industrial Insulation
9.2.3 Mexico
9.2.3.1 Government’s Clean Energy Initiative is Expected to Propel Industrial Insulation Demand
9.3 Europe
9.3.1 Germany
9.3.1.1 Investments in the Chemical & Petrochemical Industry are Favorable for the Industrial Insulation Market
9.3.2 France
9.3.2.1 Transition Into Clean Economy Using Renewable Sources of Energy is Estimated to Boost the Demand for Industrial Insulation
9.3.3 UK
9.3.3.1 Decarbonization Activities are Expected to Increase the Demand for Industrial Insulation
9.3.4 Spain
9.3.4.1 Growth of Concentrated Solar Power Generation is Estimated to Drive the Industrial Insulation Market
9.3.5 Italy
9.3.5.1 Growing Investments in the Chemical & Petrochemical Industry are A Governing Factor for the Market
9.3.6 Russia
9.3.6.1 The Growth of the Industrial and Residential Sectors is Impacting the Market in All the Major End-Use Segments
9.3.7 Poland
9.3.7.1 Government Initiatives for the Development of Chemical & Petrochemical Sector are Fueling the Market
9.3.8 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 The Rapid Economic Growth of the Country is the Main Driver for the Market
9.4.2 India
9.4.2.1 Growing Urban Population is Likely to Drive the Market in the Construction Industry
9.4.3 Japan
9.4.3.1 Rise in the Export of Chemical-Based Products is Expected to Drive the Industrial Insulation Market
9.4.4 South Korea
9.4.4.1 Increase in the Export of Petrochemicals and Electronics is Propelling the Industrial Insulation Market
9.4.5 Australia
9.4.5.1 Lng Supply Contracts With Other Economies are Driving the Industrial Insulation Market
9.4.6 Indonesia
9.4.6.1 New Power Plants and Rise in Domestic Production of Chemicals are Affecting the Market Positively
9.4.7 Vietnam
9.4.7.1 Government’s Focus on Building A Strong Transportation Network is Likely to Influence the Market Positively
9.4.8 Rest of APAC
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Refinery Integration Activities are Expected to Drive the Industrial Insulation Market
9.5.2 Iran
9.5.2.1 Oil & Gas Exploration Activities are Likely to Boost the Market
9.5.3 South Africa
9.5.3.1 Growing Urbanization and Industrialization are Influencing the Industrial Insulation Market in South Africa
9.5.4 Egypt
9.5.4.1 Investments for More Electricity Production and Growing Urban Construction are Impacting the Market
9.5.5 Rest of Middle East and Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Growing Consumption of Electricity is Helping the Market in Brazil
9.6.2 Argentina
9.6.2.1 Investments for Nuclear Power Plants and Construction Projects are Expected to Support the Market Growth
9.6.3 Colombia
9.6.3.1 Oil & Gas Exploration Activities are Likely to Drive the Industrial Insulation Market in Colombia
9.6.4 Rest of South America
10 Competitive Landscape (Page No. - 91)
10.1 Overview
10.2 Competitive Leadership Mapping, 2018
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Competitive Benchmarking
10.3.1 Strength of Product Portfolio
10.3.2 Business Strategy Excellence
10.4 Market Ranking of Key Players, 2018
10.5 Competitive Situation & Trends
10.5.1 Investment & Expansion
10.5.2 Merger & Acquisition
10.5.3 New Product Launch
10.5.4 Agreement & Collaboration
11 Company Profiles (Page No. - 101)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 Owens Corning
11.2 Saint Gobain
11.3 Knauf Insulation
11.4 Kingspan Group PLC
11.5 Rockwool Group
11.6 Armacell International S. A.
11.7 Cabot Corporation
11.8 Johns Manville
11.9 Insulcon B. V.
11.10 Promat (Etex Group)
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
11.11 Others
11.11.1 Aerofoam Usa LLC
11.11.2 Arabian Fiberglass Insulation Company Ltd.
11.11.3 Beijing New Building Material (Group) Company Ltd.
11.11.4 Beijing Hocreboard Building Materials Company Limited
11.11.5 Dyplast Products
11.11.6 Glassrock Insulation Company S.A.E.
11.11.7 Hutchinson
11.11.8 L’isolante K-Flex S.P.A.
11.11.9 NMC International SA
11.11.10 PGF Insulation
11.11.11 Tecresa Proteccion Pasiva, S.L.
11.11.12 Temati
11.11.13 Unifrax
11.11.14 Union Foam Spa
11.11.15 Visionary Industrial Insulation
12 Appendix (Page No. - 126)
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details
List of Tables (64 Tables)
Table 1 Industrial Insulation Market Size, By Material, 2017–2024 (USD Million)
Table 2 Mineral Wool Industrial Insulation Market Size, By Region, 2017–2024 (USD Million)
Table 3 Calcium Silicate Industrial Insulation Market Size, By Region, 2017–2024 (USD Million)
Table 4 Plastic Foam Industrial Insulation Market Size, By Region, 2017–2024 (USD Million)
Table 5 Other Industrial Insulation Materials Market Size, By Region, 2017–2024 (USD Million)
Table 6 Industrial Insulation Market Size, By Form, 2017–2024 (USD Million)
Table 7 By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 8 By Market Size in Power End-Use Industry, By Region, 2017–2024 (USD Million)
Table 9 By Market Size in Chemical & Petrochemical End-Use Industry, By Region, 2017–2024 (USD Million)
Table 10 By Market Size in Oil & Gas End-Use Industry, By Region, 2017–2024 (USD Million)
Table 11 By Market Size in Cement End-Use Industry, By Region, 2017–2024 (USD Million)
Table 12 By Market Size in Food & Beverage End-Use Industry, By Region, 2017–2024 (USD Million)
Table 13 Industrial Insulation Market Size in Other End-Use Industries, By Region, 2017–2024 (USD Million)
Table 14 By Market Size in Power vs Country, 2017–2024 (USD Million)
Table 15 Industrial Insulation Market Size in Chemical & Petrochemical vs Country, 2017–2024 (USD Million)
Table 16 By Market Size in Cement vs Country, 2017–2024 (USD Thousand)
Table 17 Industrial Insulation Market Size, By Region, 2017–2024 (USD Million)
Table 18 North America: Industrial Insulation Market Size, By Country, 2017–2024 (USD Million)
Table 19 North America: Commercial Insulation Market Size, By Material, 2017-2024 (USD Million)
Table 20 North America: Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 21 US: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 22 Canada: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 23 Mexico: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 24 Europe: By Market Size, By Country, 2017–2024 (USD Million)
Table 25 Europe: Commercial Insulation Market Size, By Material, 2017–2024 (USD Million)
Table 26 Europe: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 27 Germany: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 28 France: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 29 UK: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 30 Spain: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 31 Italy: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 32 Russia: by Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 33 Poland: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 34 Rest of Europe: Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 35 APAC: Market Size, By Country, 2017–2024 (USD Million)
Table 36 APAC: Commercial Insulation Market Size, By Material, 2017–2024 (USD Million)
Table 37 APAC: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 38 China: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 39 India: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 40 Japan: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 41 South Korea: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 42 Australia: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 43 Indonesia: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 44 Vietnam: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 45 Rest of APAC: Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 46 Middle East & Africa: Industrial Insulation Market Size, By Country, 2017–2024 (USD Million)
Table 47 Middle East & Africa: Commercial Insulation Market Size, By Material, 2017–2024 (USD Million)
Table 48 Middle East & Africa: Reflective Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 49 Saudi Arabia: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 50 Iran: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 51 South Africa: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 52 Egypt: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 53 Rest of Middle East and Africa: Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 54 South America: Market Size, By Country, 2017–2024 (USD Million)
Table 55 South America: Commercial Insulation Market Size, By Material, 2017–2024 (USD Million)
Table 56 South America: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 57 Brazil: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 58 Argentina: By Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 59 Colombia: Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 60 Rest of South America: Industrial Insulation Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 61 Investment & Expansion (2015–2018)
Table 62 Merger & Acquisition (2015–2018)
Table 63 New Product Launch (2015–2018)
Table 64 Agreement & Collaboration (2015–2018)
List of Figures (36 Figures)
Figure 1 Industrial Insulation Market: Research Design
Figure 2 Industrial Insulation Market: Data Triangulation
Figure 3 Mineral Wool Was the Largest Type of Industrial Insulation in 2018
Figure 4 Power to Be the Largest End-Use Industry of Industrial Insulation
Figure 5 APAC Industrial Insulation Market to Register the Highest Growth
Figure 6 Growth in Electricity Demand and Energy Conservation to Drive the Market
Figure 7 Mineral Wool to Be the Largest Segment of the Overall Industrial Insulation Market
Figure 8 Pipe Form to Account for the Largest Share in the Overall Industrial Insulation Market
Figure 9 Power Industry to Account for the Largest Market Share
Figure 10 China to Be the Largest Market in APAC
Figure 11 Power Industry Accounted for the Largest Market Share
Figure 12 Drivers, Restraints, Opportunities, and Challenges in the Industrial Insulation Market
Figure 13 Industrial Insulation Market: Porter’s Five Forces Analysis
Figure 14 Mineral Wool Segment to Account for the Largest Market Share
Figure 15 Pipe Form Segment to Account for the Largest Market Share
Figure 16 Power to Be the Largest End-Use Industry of Industrial Insulation
Figure 17 Industrial Insulation Market in India to Register the Highest Cagr
Figure 18 North America: Market Snapshot
Figure 19 Europe: Market Snapshot
Figure 20 APAC: Market Snapshot
Figure 21 Companies Adopted Expansion, New Product Launch, and Acquisition as Key Strategies Between 2015 and 2018
Figure 22 Industrial Insulation Market: Competitive Leadership Mapping, 2018
Figure 23 Owens Corning: Company Snapshot
Figure 24 Owens Corning: SWOT Analysis
Figure 25 Saint Gobain: Company Snapshot
Figure 26 Saint Gobain: SWOT Analysis
Figure 27 Knauf Insulation: SWOT Analysis
Figure 28 Kingspan Group: Company Snapshot
Figure 29 Kingspan Group: SWOT Analysis
Figure 30 Rockwool Group: Company Snapshot
Figure 31 Rockwool Group: SWOT Analysis
Figure 32 Armacell International: Company Snapshot
Figure 33 Armacell International: SWOT Analysis
Figure 34 Cabot Corporation: Company Snapshot
Figure 35 Cabot Corporation: SWOT Analysis
Figure 36 Johns Manville: SWOT Analysis
The study involved four major activities in estimating the current market size for industrial insulation. The exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers, Bloomberg, and BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, insulation related organizations, regulatory bodies, and databases.
Primary Research
The industrial insulation market comprises several stakeholders such as raw material suppliers, distributors of industrial insulation, raw material associations, polymer and resin associations, insulation related associations, end-users, and regulatory organizations in the supply chain. The demand side of this market consists of power plant contractors, power companies, oil & gas companies, petrochemical product manufacturers, whereas the supply side consists of insulation material manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the industrial insulation market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research.
- All the percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the power, oil & gas, chemical, petrochemical, and cement segments.
Objectives of the Study:
- To define, describe, and forecast the size of the industrial insulation market in terms of value only
- To provide detailed information about the key factors (drivers, restraints, challenges, and opportunities) influencing the market growth
- To analyze and forecast the market by material, form, and end-use industry
- To forecast the market size with respect to four regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, growth prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments such as new product development, investment & expansion, and merger & acquisition in the market
- To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
Notes: Micromarkets1 are defined as subsegments of the industrial insulation market included in the report.
Core competencies2 of the companies are determined in terms of their key developments, SWOT analysis, and strategies adopted to sustain their position in the market.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis:
- A country-level analysis of the industrial insulation market is provided based on end-user industry.
Company Information:
- Detailed analysis and profiles of additional market players.
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