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Industrial Insulation Industry report indicates Industrial Forecast, Growth Rate & Market Share to 2025

07-31-2018 01:39 PM CET | Industry, Real Estate & Construction

Press release from: Reports Monitor

Industrial Insulation Market

Industrial Insulation Market

Market scenario:
Insulation is defined as the process of using a material or homogeneous mixture of materials that are capable of restricting the flow of thermal or heat energy. Insulation materials carry out the functions such as noise reduction, process control, condensation control, energy conservation, freeze protection, and importantly, reduction of environmental pollution. While choosing a suitable insulation material, factors, for example, working temperature, fire assurance, physical pressure, benefit and support, vibration, and water entrance must be considered. Thermal protection using insulation technique has become essential in industries for safety purposes and to reduce heat loss during the manufacturing process. Industrial thermal insulation helps in increasing the continuity of the manufacturing processes. Thermal insulation process in industrial equipment and processes protects the personnel at the operating end, reduces environmental impacts, and enhances process security in the long run.

Calcium silicate is one compound which is generally utilized in thermal insulation and industrial insulation. It can mold into tough shapes and can reinforce with different materials in order to get improved insulation property. Calcium silicate based industrial insulations can easily sustain temperature above 650 degree Celsius. Other materials that are used in industrial insulation are fiber rock slag, glass fibers, cellular glass, perlite and others. These materials are usually converted into sheets and used in desired surfaces. They have edge over other materials in terms of lightweight and high thermal stability. Foam and mineral fibers based insulators are more often used as acoustic insulators due to good sound absorption properties.

The market is driven by growing energy cost which has increased the industrial operation cost negatively impacting the profit margin. Increasing demand for energy efficient process in an industrial plant is increasing which is leading to growth in implementation of industrial insulation. Additionally, the market over the forecast timeframe is driven by the properties of fire retardant, temperature control; moisture resistant, weather resistant qualities.

Growth in the application in the construction field is driving the market; additionally it helps in offering comfort at extreme temperatures ultimately reducing the effects of global warming. The areas in which it is used are residential housing, retail stores, commercial offices, cold stores, food processing plant and a public institution like hospitals and school. Growing demand for better infrastructure and building and rising awareness among the consumer regarding the benefits of industrial insulation is growing the market for industrial insulation over the forecast period.

The lack of knowledge and awareness among end users concerning construction and infrastructure application benefits is negatively impacting the global industrial insulation market. Even though initiative taken by the government to promote energy efficiency in industrial plants is augmenting growth for industrial applications which will further enhance global industrial insulation market over the coming years. The requirement in the industry for thermal insulation is increasing day by day, owing to increase in awareness regarding the benefits associated with its usage. The materials used for insulation can take various forms and can be effortlessly installed. These forms contain flexible blankets, pre-formed shapes & flexible sheets, foams & rigid blocks, sheets, and boards.

There has been a considerable rise in the number of industries in recent days. With growing industrialization, the awareness about the benefits of insulating materials has increased substantially. Therefore, the market for industrial thermal insulation is likely to expand at an exponential rate in the future.

Phase Change Materials (PCMs) are smart materials for thermal insulation. Application of PCMs is in CV technology for lowering carbon emissions. Further innovation in this market is Insulation Jackets with Sensors for Accurate Energy Savings Verification of Pipe Insulations, moreover, advancement like Filler Materials for Enhancing Performance of aluminum silicate heat Insulation is trending. Another kind of insulation that is foam glass insulation is used in hot-oil Systems for Preventing Insulation-Induced Fire Hazards.

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Regional analysis:
The global industrial insulation market is studied across: North America, Europe, Asia Pacific and LMAEA (Latin America, Middle East and Africa). In the last decade, Europe and North America have been sharing a large space in the global industrial insulation market. Developed power & industrial segments have been the main factors influencing the demand for industrial insulation in the regional market. Whereas, rising industrial sector in emerging economies of Asia Pacific is estimated to create high market demand for industrial insulation materials in the regional market.

On a country level, developed countries such as the U.S, Germany, U.K., Japan, and Korea are estimated to hold a significant share in the global industrial insulation market, while developing countries such as India and China are estimated to grow with significant rate during the forecast period. Industries related to oil and gas in the Middle East and Africa or MEA and Russia are estimated to attract major players in the industrial insulation market to invest in these regions.

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Key Players:
Leading players in the market are NICHIAS Corporation, Anco Products, Inc., Aspen Aerogels, Inc., Cabot Corporation, Rockwool Technical Insulation, Paroc, Knauf Gips KG, TechnoNICOL Corporatio, Morgan Thermal Ceramics, Unifrax, LLC, Rath AG.

About Us:
Reports Monitor is a market research and consulting company that 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 including Healthcare, Technology, Chemicals, Materials, and Energy. With an intrinsic understanding of many business environments, Reports Monitor provides strategic objective insights.
We periodically update our market research studies to ensure our clients get the most recent, relevant, and valuable information. Reports Monitor has a strong base of analysts and consultants from assorted areas of expertise. Our industry experience and ability to zero-in on the crux of any challenge gives you and your organization the ability to secure a competitive advantage.

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