The global industrial insulation market is slated to reach USD 19.45 billion by 2025,
growing at a CAGR of 6.0%, as per a new report published by Grand View
Research, Inc. Adequate insulation and thermal mass provide an energy-efficient
and economical design to industrial equipment and construction, nullifying the
need for a heating system and curbing the operating costs. Manufacturers are
striving to provide materials that improve the life cycle and thereby the
efficiency of a product.
Foamed plastics are
widely used to prevent heating and cooling losses, thus improving the overall
energy efficiency of equipment used in end-use industries. Rising energy prices
coupled with the growing importance of energy-efficient industrial
infrastructure are slated to be major driving factors.
Blowing agents such as
phenolic & PU foams contain ozone-depleting substances, such as hydro
fluorocarbons (HFC), carbon dioxide, and pentane, which are greenhouse gasses
known to pose serious threats to the environment. Stringent regulations by
REACH to reduce the use of these toxic substances in insulation materials are
expected to pose challenges towards the market growth.
The market is considered
to be capital-intensive due to which entering and sustaining it requires a
considerable amount of time, resources, and planning. Achieving economies
of scale remains the top priority for the industry players.
Browse full report by Grand View Research:
Further
Key Findings from the Study Suggest:
·
Foamed Plastic is expected to witness a
high growth and penetration rate, owing to its high compressive strength, and
superior moisture resistance
·
Glass wool is anticipated to emerge as the
second largest product segment
·
Glass wool encompasses various features
such as easy installation, low moisture absorption, ability to hold up the
original shape despite the surrounding high temperatures and good recovery from
packaged compression
·
Petrochemical & Refineries application
segment is expected to account for 37.8% of demand in 2025 and is likely to
emerge as the largest as well as fastest application segment
·
Europe is expected to be the largest growing
region in the global industrial insulation market
·
Strict insulation codes and laws
effectuated by the European regulatory authorities have increased the awareness
about rising energy costs and the need for energy efficiency.
·
The major business players in the market
include Rockwool Technical Insulation, Paroc, Knauf Gips KG, TechnoNICOL
Corporation, etc.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the global industrial insulation market on the basis of product and
application:
Industrial Insulation Product Outlook (Volume, Million
square meters; Revenue, USD Million, 2014 - 2025)
·
Stone wool
·
Glass wool
·
CMS Fibers
·
Calcium silicate
·
Cellular Glass
·
Foamed Plastic
·
Elastomeric Foam
·
Perlite
·
Aerogel
·
Micro Silica
·
Others
Industrial Insulation Application Outlook (Volume,
Million square meters; Revenue, USD Million, 2014 - 2025)
·
Power Generation
·
Petrochemical & Refineries
·
EIP Industries
·
LNG/LPG
·
Others
Industrial Insulation Regional Outlook (Million square
meters, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
o France
o Poland
o Spain
o Italy
o Benelux
o Nordic
o CIS
·
Asia Pacific
o China
o India
o Japan
o South Korea
o Indonesia
o Malaysia
o Thailand
o Vietnam
·
Latin America
o Mexico
o Colombia
o Argentina
o Brazil
·
Middle East & Africa (MEA)
o GCC
o Turkey
Access press release by
Grand View Research: http://www.grandviewresearch.com/press-release/global-industrial-insulation-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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