DUBLIN--(BUSINESS WIRE)--The "High-Performance Insulation Materials Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The market for high-performance insulation materials is expected to expand at a CAGR of more than 10.8% during the forecast period of 2019-2024.
The major factors driving the market are the rising awareness regarding greenhouse emissions and growing demand for high-performance insulation materials from end-user industries such as oil & gas, paints & coatings, and construction, etc. On the flipside, high set-up & maintenance costs and the relatively low service life is expected to hinder the growth of the market studied.
- Oil & Gas industry dominated the market in 2018 and is expected to grow during the forecast period owing to the increasing oil and gas activities across the world.
- Increasing investments in infrastructural activities in Asia-Pacific is likely to act as an opportunity in the future.
Major Market Trends
Increasing Demand from the Oil & Gas Industry
- The hot oil/gas composition flows up at the wellhead and is transported through XMT's, manifolds, various critical instruments, spools, and flow lines before the riser brings the oil to the surface.
- Insulation is necessary to avoid the formation of hydrate plugs and wax build-up (paraffin). The formation of wax and hydrates starts when the oil/gas composition is depressurized and exposed to the low seawater temperature at the seabed.
- High-performance insulation materials are witnessing a huge demand from the oil & gas sector, primarily owing to the growing demand for subsea pipeline applications.
- Additionally, these materials offer properties, such as fire and water resistance, superlative thermal resistance, enhanced acoustic insulation, lightweight, and reduced thickness, that are required in the oil & gas sector.
- The oil & gas industry in the Asia-Pacific region is growing, due to the rising demand for energy and petrochemicals. Countries, such as India, Malaysia, Indonesia, China, South Korea, and Japan, are experiencing an increase in offshore drilling activities.
- The aforementioned factors are likely to consequently result in an increase in the usage of high-performance insulation materials during the forecast period.
Asia-Pacific to Dominate the Global Market
- Asia-Pacific is expected to dominate the market for high performance insulation materials during the forecast period.
- The growth in the oil & gas and the construction sector in the region have significantly boosted the demand for such insulation panels.
- Furthermore, India is one of the major markets for high-performance insulation materials. With the increase in demand from the oil & gas and transportation industries, the high-performance insulation materials market is expected to grow rapidly in the coming years.
- In country such as South Korea, the aerospace industry boasts exceptional growth potential, with a strong demand from the military sector, which is likely to stimulate the high-performance insulation materials market growth.
- With the rising investments in the construction sector of emerging economies, including China, India, and Indonesia, is expected to further augment the growth of high performance insulation materials.
- Aforementioned factors are likely to increase the demand of high-performance insulation materials arket during the forecast period.
The high-performance insulation materials market is consolidated. The major companies include BASF SE, Cabot Corporation, 3M, Armacell, and Morgan Thermal Ceramics.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Usage in the Oil & Gas Industry
4.1.2 Rising Awareness Regarding Greenhouse Emissions & Energy Savings
4.2.1 High Set-up & Maintenance Costs & Relatively Low Service Life
4.2.2 High Flammability with Insulated Materials & Foam Products that Contain CFC
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.5 Technological Snapshot
4.5.1 Technology Licensing and Patent Analysis
5 MARKET SEGMENTATION
5.1 By Material Type
5.1.2 Vacuum Insulation Panel (VIP)
5.1.4 Ceramic Fiber
5.1.5 High-performance Foam
5.2 By End-user Industry
5.2.1 Oil & Gas
5.2.3 Building & Construction
5.2.5 Power Generation
5.3.2 North America
5.3.4 South America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Aerogel Technologies LLC
6.4.4 Aspen Aerogels Inc.
6.4.5 BASF SE
6.4.6 Brandenburger Firmengruppe
6.4.7 Cabot Corporation
6.4.8 DowDuPont Inc.
6.4.9 General Insulation Company
6.4.11 Isolite Insulating Products Co. Ltd.
6.4.12 Luyang Energy-Saving Materials Co. Ltd.
6.4.13 Morgan Advanced Materials
6.4.14 Nano High-Tech Co. Ltd.
6.4.15 Owens Corning
6.4.16 PAR Group
6.4.17 Paul Bauder GmbH & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Investments in Infrastructural Activities in Asia-Pacific
7.2 Other Opportunities
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