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Global OEM Insulation Market 2023 Opportunity Assessment, Growth Rate, Share Analysis And Forecast To 2032 | Major Players Are Omron Corporation, Honeywell International, Schneider Electric, Rockwell Automation Inc., Panasonic Corporation
OEM Insulation Market
The Business Research Company's OEM Insulation Global Market Report 2023 identifies rising construction of commercial offices and industries as the major driver for the OEM Insulation Market's growth in the forecast period. The construction of commercial offices and industries requires advanced insulating materials to reduce energy consumption and operational costs. For instance,, in August 2022, according to data published by the United States Census Bureau, a US-based Federal Statistical agency, the total spending on industrial construction in the US was $1,762.3 billion in June 2022. Therefore, the rising construction of commercial offices and industries is driving the growth of the OEM insulation market.
The global OEM insulation market size is expected to grow from $19.59 billion in 2022 to $20.84 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The OEM insulation market size is expected to grow to $25.97 billion in 2027 at a CAGR of 5.6%.
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Major competitors in the OEM insulation market are Compagnie de Saint Gobain SA, Johns Manville Corporation, Armacell International SA, Knauf Insulation GmbH, Owens Corning Corporation, Rockwool International AS, 3M Company, Atlas Roofing Corporation, Scott Manufacturing LLC, BASF SE, Evonik Industries AG, Covestro AG, Paroc Group Oy, Aspen Aerogels Inc., and ALP Group.
A key trend in the OEM Insulation Market includes technological advancement. Major companies operating in the OEM insulation market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Owens Corning Corporation, a US-based company operating in OEM insulation, launched PINK Next Gen Fiberglas insulation based on advanced fiber technology. Advanced fiber technology helps to improve stiffness and recovery for quicker deployment, allowing superior texture with fewer chunks and clumps for one-pass clean cuts and less dust to make the surface smooth. This technology allows the installation of insulating material in a very short time of application, creates a woven network of fibers that develop resilient blankets of insulating micro-pockets, and is free from hazardous chemicals to protect against environmental pollution.
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The OEM Insulation Market is segmented -
By Insulation Type: Blankets, Rolls and Batts, Loose Fill, Other Insulation Types
By Material Type: Mineral Wool, Polyurethane Foam (PUF), Flexible Elastomeric Foam (FEF), Other Material Types
By End User: Aerospace, Automotive, Marine, HVAC Equipment, Building and Construction, Consumer Appliances, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the OEM Insulation Market.
The Business Research Company's "Global OEM Insulation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The OEM Insulation Market Include:
1. Executive Summary
2. OEM Insulation Market Characteristics
3. OEM Insulation Market Trends And Strategies
4. OEM Insulation Market - Macro Economic Scenario
5. OEM Insulation Market Size And Growth
……
26. Africa OEM Insulation Market
27. OEM Insulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The OEM Insulation Market
29. OEM Insulation Market Future Outlook and Potential Analysis
30. Appendix
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