Industrial Insulation Market Worth USD 17.80 Billion by 2026


Posted April 15, 2020 by jennysmith

Industrial Insulation Market size is projected to grow from USD 11.14 Billion in 2018 to USD 17.80 Billion by 2026, at a CAGR of 6.17% from 2019 to 2026.

 
“Global Industrial Insulation Market By Material (Fiberglass, Mineral Wool, Plastic Foams, Calcium Silicate, Cellular Glass, Elastomeric Foam, Ceramics, Perlite, and Others), By Form (Blanket, Board, Pipe, and Others), By End-Use Industry (Power, Oil & Gas, Chemical & Petrochemical, Food & Beverages, Cement, and Others) and Region- Global Market Size, Status and Forecast to 2026″, published by Verified Market Research.

The Global Industrial Insulation Market size is projected to grow from USD 11.14 Billion in 2018 to USD 17.80 Billion by 2026, at a CAGR of 6.17% from 2019 to 2026. Growing end use industries operating on high temperatures is expected to support market growth during the forecast period.

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Browse in-depth TOC on “Global Industrial Insulation Market”

61 – Tables
43 – Figures
104 – Pages

In terms of form, the blankets segment is estimated to be the fastest-growing type in the Global Industrial Insulation market during the forecast period.

By material, the market is classified into Fiberglass, Mineral Wool, Plastic Foams, Calcium Silicate, Cellular Glass, Elastomeric Foam, Ceramics, Perlite, and Others. Global Industrial Insulation Market for Fiberglass segment is expected to be largest till 2026. Fiberglass is one of the widely preferred materials in industrial gaskets as it is durable, safe and offers high thermal insulation. The fiberglass not only provides better insulation but also helps in providing protection to the machinery, conserving the energy and ensuring the safety of the professional workforce. Fiberglass insulation is used in the HVAC system that involves the lining of equipment such as mixing boxes, room and rooftop air conditioners, compressor units, domestic furnaces, and heat pumps.

Mineral wool insulation is usually used for heating, ventilation and air conditioning systems and is found in the lining of industrial furnaces and foundries. The usage of high-temperature mineral wool enables a more lightweight construction of industrial furnaces and other technical equipment as compared to other methods such as fire bricks owing to its high heat resistance capabilities per weight.

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The APAC region is projected to account for the largest share in the Global Industrial Insulation market during the forecast period from 2019 to 2026.

China is one of the major hubs of the electronics industry and also the manufacturing industry. Any accident can hamper the functioning and may cause huge losses which will have long term effects on the business. For this purpose, the majority of the companies implement insulation in their production systems. However, the presence of a large number of small-scale businesses cannot afford the insulation services or are unaware of the benefits to their business.

Key players

Armacell International S. A., Cabot Corporation, Insulcon B. V., Johns Manville, Kingspan Group PLC, Knauf Insulation, Owens Corning, Promat (Etex Group), Rockwool Group and Saint Gobain are the key players operating in the Global Industrial Insulation market. Partnerships, acquisitions and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Global Industrial Insulation Market.

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Issued By vmr
Country United States
Categories Business
Tags Industrial Insulation Market
Last Updated April 15, 2020