Industrial Insulation Market is expected to Grow Worldwide at CAGR 5.64% with Top Market Players - Temati (Netherlands), Owens Corning (U.S), Samhwa Chemicals Co., Ltd (South Korea), STI Co., Ltd (South Korea)

Key Outcomes:

Global Industrial Insulation market is projected to reach USD 3,418.4 million by 2023 at a CAGR of 5.65%.
North America emerged as the global leader in this market and has acquired 33% of the global share, expanding at dynamic CAGR of 5.12%.
As per the analysis, the U.S. was the most promising country level market and has generated largest revenue of USD 817.2 million growing at 5.14% of CAGR

Leading Key Players:

Owens Corning (U.S), Samhwa Chemicals Co., Ltd (South Korea), Thomas Insulation Corporation (U.S.), Temati (Netherlands), STI Co., Ltd (South Korea)

To Get Sample Copy of Report visit @ https://www.marketresearchfuture.com/sample_request/5945

On the basis of the product type, wraps and Sheets dominated the global market in 2016, with significant market shares of 82% expanding at highest CAGR of 5.70. Similarly, application segment has been dominated by chemical processes with largest shares 27%.
Asia Pacific to be the highly focused market for key industry participant over the assessment years. Increasing industrial investment, industrial automation and industrial expansion have increased the importance of this region among the industry players.

Market Information:

The role of industrial insulation is crucial in maintaining the environment required for carrying out the production tasks. Market reports associated with the chemicals and materials sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to earn revenues worth USD 5,017.4 million by 2023 while growing at a CAGR of 5.64 percent in the forecast period.

The growth of the market is powered by the rising investments from the public and private sectors. The presence of a developed industrial sector globally is driving the development of this market further. The need to reduce energy consumption has also been identified as a key factor contributing to market expansion over the forecast period.

Scope of the report:

The market for Industrial Insulation is segmented on the basis of application and product type. By type, the market is segmented into coatings, Wraps /sheets, and adhesive & sealants. Wraps & sheet are further segmented into polymer modified bitumen membrane, aluminum butyl wrap, modified butyl rubber, metalized polymer, and others. Coatings are also sub-segmented into weather barrier, cryogenic, condensation control, vapour barrier, fire resistant, abrasion resistant, and others. Adhesive & sealants are further segmented into polystyrene foam, PVC, and water-based insulation and others.

For Full Details of Market and TOC on this Report, Visit @ https://www.marketresearchfuture.com/reports/industrial-insulation-market-5945

By application, the market is segmented into LNG, power generation, chemical processes, storage tanks, heat exchangers, boilers, other hot & cold process equipment.

Geographical Analysis:

The regional analysis of the market includes regions comprising of Europe, North America, Asia Pacific, Middle East, Latin America, and Africa. The North American region was leading the market and has a major share of 33.08% as of 2016. The U.S. is one of the most promising market globally and has created a major country level revenue of USD 817.2 million. The growing focus towards the energy efficient products and services is expected to widen the scope for industrial insulation.Furthermore, established construction industry and resulting construction repair activities are driving the demand in this market.

Germany, Russia, and the UK are the most promising national markets in the European region. Germany is responsible for the major part of this region with more than one-third regional market shares increasing at significant CAGR of 5.63%. The rise of China as a global manufacturing hub, propinquity of cheap labor force, copious availability of raw material, and developing industrial economies are some of the factors driving the industrial growth in this market.

Intended Audience

Industrial Insulation manufacturers
Traders and distributors of Industrial Insulation manufacturers
Production process industries
Potential investors
Raw material suppliers

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.