DUBLIN--(BUSINESS WIRE)--The "Industrial Insulation Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The market for industrial insulation is expected to register a CAGR more than 5%, globally, during the forecast period.
Industrial insulation is a layer or coating of resistant material, which serves as a barrier to the targeted energy, and it is used throughout the world in refineries, power generation plants, and manufacturing facilities, among other industrial operations. The increasing demand for power generation and construction industries has been driving the growth of the market.
However, the environmental and health hazards related to insulation wool are likely to hinder the growth of the studied market. The rising exploration and production activities in China, UAE, Indonesia, and the United States are likely to provide opportunities for the industrial insulation market over the next five years.
Asia-Pacific dominates the industrial insulation market, owing to increasing application in the construction and power generation sectors in the region.
Key Market Trends
Power Generation Industry to Dominate the Market
- The power generation industry stands to be the dominating segment, owing to stringent regulations mandating the use of industrial insulation to conserve energy and achieve efficiency in operations.
- Calcium silicate is one of the most widely used insulation materials in the power generation industry. It is used to insulate high-temperature pipes and equipment and for fire endurance applications.
- In the power generation industry, industrial insulation is used to cover a variety of equipment, such as steam pipes, heat storage tanks, and boilers.
- While Asia-Pacific is witnessing the construction of power plants in countries, such as China, India, and Vietnam, the demand for the industrial insulation market is expected to increase from the region during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific stands to be the largest and fastest-growing market for the construction and power generation industry. Factors, such as increasing need for energy conservation and ensuring stringent regulatory norms by the International Green Construction Code (IgCC) standards, are driving the industry insulation requirements in Asia-Pacific.
- Furthermore, increasing investment in the renewable energy sector in countries, like Japan, India, China, and Indonesia is further driving the demand for industrial insulation in the region.
- Increasing investment in smart electricity grid network and HVDC transmission further offers opportunities for the industrial insulation market.
- Hence, all such market trends are expected to drive the demand for industrial insulation market in the region during the forecast period.
The industrial insulation market is partially consolidated in nature, with a few major players dominating a significant share of the market demand. Some of the major companies are Knauf Insulation, Rockwool, Owens Corning, BASF SE, and Solvay, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Construction and Power Generation Industry
4.1.2 Regulatory Support to Increase Energy Efficiency
4.2.1 Environmental Hazards
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Insulation Material
5.1.1 Mineral Wool
5.1.2 Fiber Glass
5.1.3 Foamed Plastics
5.1.4 Calcium Silicate
5.1.5 Other Insulation Materials
5.2.4 Other Products
5.3 End-user Industry
5.3.2 Chemical and Petrochemical
5.3.4 Electrical and Electronics
5.3.5 Oil and Gas
5.3.6 Power Generation
5.3.7 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 BNZ Materials
6.4.3 Cabot Corporation
6.4.4 CK Birla Group
6.4.6 Jays Refractory Specialists
6.4.7 Johns Manville-Berkshire Hathway Company
6.4.8 Knauf Insulation
6.4.9 Owens Corning
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Exploration Activities in the Oil and Gas Industry
7.2 Use of Organic Products for Insulation
For more information about this report visit https://www.researchandmarkets.com/r/2qvbc1