Industrial Insulation Market | Key players operating in the market include Owens Corning, Saint Gobain, Knauf Insulation, Kingspan Group PLC, Rockwool Group

According to recent market research "Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Oil & Gas, Chemical & Petrochemical, Cement, Food & Beverage), and Region - Global Forecast to 2025", size is projected to reach USD 3.0 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 5.0% during the forecast period. The demand for industrial insulation in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in industrial activities such as establishment and expansion of power plants, oil refineries, and so on. The capital cost for the installation of insulation materials is quite high, owing to the requirement of separate clearances, regulation citing, and skilled labor which is a major challenge for the industrial insulation market. The demand for industrial insulation is rising, owing to the growing demand from increased infrasturtural activities in emerging economies. This increase in demand for environment-friendly industrial insulation and the construction of green buildings provide growth opportunities to the market. On the other hand, the lack of awareness about the benefits of proper insulation is a major restraint for the market.

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Pipe is the most widely used form of insulation materials in end-use industries, such as power, oil & gas, petrochemical, food & beverage, cement, and metal processing. They are wrapped around the pipes used in these industries to control the flow of heat energy. Pipe insulation reduce energy loss to a great extent, thereby controlling the energy prices. Thus, providing proper insulation to pipes is a necessary function in most of heavy industries, such as power, petrochemical, and oil & gas.

Mineral wool is an inorganic insulating material containing an average of about 75% post-industrial recycled materials and also does not require additional chemicals to be fire-resistant. Mineral wool is naturally moisture-resistant and retains its insulating qualities even when wet. Mineral wool is also effective in blocking sound more efficiently, so the interior of a building suffers less acoustic invasion.

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The global industrial insulation market size is projected to reach USD 3.0 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 5.0% during the forecast period. Increasing industrial, construction, and infrastructure activities in APAC, the Middle East & Africa, and South America, and growing demand for energy conservation and process optimization are driving the industrial insulation market. The increasing energy demand and mandatory regulations are also expected to drive the market.

The increase in demand for industrial insulation and the growing industrial activities in the emerging economies, such as APAC and South America, are driving the market. The key players in the industrial insulation market include Owens Corning (US), Saint Gobain (France), Knauf Insulation (US), Kingspan Group PLC (Ireland), Rockwool Group (Denmark), Armacell International SA (Germany), Johns Manville (US), Nichias Corporation (Japan), Insulcon BV (US), and Promat (ETEX Group) (Belgium). The industrial insulation market report analyzes the key growth strategies, such as investment & expansion, partnership & agreements, new product launch, and merger & acquisition, adopted by the leading market players between 2018 and 2020.

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Owens Corning is one of the global leaders in manufacturing and distribution of building and industrial materials. The company has organized its operations through three segments: composites, insulations, and roofing. Owens Corning offers industrial insulation under its insulations segment. They deliver a broad range of high-quality insulation products. This insulation products conserve energy and improve acoustics, fire resistance and air quality at its operational locations. The company offers its products for pipe & equipment, tanks, vessels & spheres, ovens, boilers & furnaces and passive fire suppression industrial insulations. The industrial insulation segments consist of 43 manufacturing facilities. The company serves its customers primarily in US, Canada, Europe, APAC and Latin America with around 19,000 employees and has operations in 33 countries.

Saint Gobain designs, manufactures, and distributes innovative solutions to improve the quality of living spaces and reduce the environmental impacts. It offers its products for various applications in construction industry. The company has organized its operations through regional segments: Americas, Northern Europe, Southern Europe & MEA, APAC and High-Performance Solutions (Global). Saint Gobain offers industrial insulation products under the subsidiary of Isover. Isover offers its products and insulation solutions to various applications in buildings, transportation, and industries. It serves customers with 10,000 employees and has 63 industrial sites and 107 country sites.

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