Press release
Industrial Insulation Market Global Industry Analysis and Opportunity Assessment 2018 – 2023 by Leading Players - ROCKWOOL Technical Insulation, 3M, Paroc, TechnoNICOL, NICHIAS, Pittsburgh Corning, Evonik Industries, Armacell Enterprise, BASF SE, Cabot
Industry Trends:Armafix Ecolight is a recently launched product that has an eco-friendly, PET foam core which solves the problems regarding crushed insulation. It has an advantage over its market competitors as its PET core is recyclable.
Thermal Pipe Shields has announced recently the launch of TPSX-12 that is first of its kind which guarantees water resistance along with calcium silicate mechanical insulation.
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Segmentation:
The global market for Industrial Thermal segmentation can be segmented by Material and End-Users.
Based on Material, the market includes calcium silicate, mineral fiber, foamed plastic, perlite, cellular glass, and others. Fibrous and cellular thermal insulations have recently gained momentum in comparison to other variations.
On the Basis of End-User, the market comprises petrochemical & refineries, power generation, aerospace & defense, automotive, and others. Petrochemical & refineries is accounted for the largest share of the market and is also expected to grow with the fastest CAGR during the forecast period. Power generation is the second largest segment to occupy the market.
Regional Analysis:
Geographically, the market covers Asia Pacific (APAC), Europe, Latin America (LATAM), North America, and the Middle East & Africa (MEA).
The APAC region is expected to be the flag-bearer with the highest CAGR in the foreseeable future. Various countries such as China, Japan, India, South Korea, Vietnam, and Malaysia are providing favorable conditions for the emerging industries owing to which industrialization is experiencing an unprecedented escalation. Cheap labor and availability of raw materials & land are also encouraging the scenario. This has given rise to the demand for industrial thermal insulation.
North America is currently spearheading the market and is anticipating significant growth. The market here is experiencing a boost from the defense sector in countries such as the U.S. and Canada.
Europe is the second largest market and a number of factors such as the presence of several end-user industries, well-developed automotive & petrochemical sector, and revamping of the chemical process sector are propelling the market ahead. Countries such as the U.K, France, Poland, Germany, Russia, Spain, and Italy have cemented their positions as reliable contributors.
In LATAM, Brazil is contributing in a significant way to the regional market growth owing to its burgeoning automotive sector.
In MEA, Kuwait, Iran, Qatar, Oman, Saudi Arabia, and the United Arab Emirates (UAE) are the key influencers as they have well-structured oil & gas and petrochemical sector.
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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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