Industrial Insulation Market worth $5.0 billion by 2027 | Key players Owens Corning, Saint-Gobain ISOVER, ROCKWOOL, Knauf Insulation, Armacell.

According to recent market research the "Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral wool, Calcium silicate, Plastic foams), End-use (Power, Oil & Petrochemical, Gas, Chemical, Cement, Food & Beverage), and Region - Global Forecast to 2027", Industrial insulation market size is projected to reach USD 5.0 billion by 2027 from USD 3.9 billion in 2022 growing at a CAGR of 5.4%. Industrial insulation can be defined as insulating components, machinery, and other equipment with materials that provide thermal and acoustic resistance or insulation. These are generally applied to pipes, tanks, boilers, and other machinery dealing with high-temperature applications. They also serve the purpose of process temperature control, condensation prevention, corrosion resistance, and vibration reduction. The temperature range in which this insulation materials function is between -1700C to 1,2000C (-274˚F to 2,192˚F). These materials are mineral wool, plastic foams, calcium silicate, and others. Industrial insulation is used in many industries, including power, chemical, oil & petrochemical, gas, cement, food & beverage, and others. The demand for industrial insulation in emerging economies, such as Asia Pacific, the Middle East & Africa, and South America, is increasing, owing to the growing infrastructure activities.

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Blanket insulations come in the form of batts and rolls with a foil backing. It is one of the most used insulations. Batt insulations can be available in the form of pre-cut panels, whereas roll insulation comes in the form of a continuous roll, which can be trimmed and fitted in the required space. These types of insulation are commonly made of fiberglass or mineral wool. They have high fiber density and low shot content for excellent thermal control performance and fire resistance. These are also available in the metal mesh option, wherein it is applied mechanically to the insulating material.

Plastic foams are estimated to register the second highest CAGR during the forecast period.
Plastic foams are innovative, energy-efficient materials used for insulation. They can effectively seal gaps and stop air leaks. Plastic foams used in industrial insulation can be classified as phenolic, elastomeric, and others. Johns Manville and Armacell International SA are some of the major manufacturers of plastic foams.

The oil & petrochemical industry requires a variety of equipment, such as pipelines, vessels, and subsea equipment for routine operations. As the operation involves high-temperature conditions, most of the equipment needs to be covered with insulation material. High-temperature insulation materials have a low thermal conductivity to ensure a lower heat transfer rate. They require surface emissivity to emit energy as thermal radiation and they need to have higher specific heat capacity, so that they take more time to absorb heat, before transferring it. There are various high-temperature insulation products, including calcium silicate and ceramic fiber, and microporous insulation. Due to these factors, the demand for industrial insulation in the oil & petrochemical sector is expected to increase in the next five years.

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The region has established oil & gas and chemical & petrochemical industries due to the abundant availability of natural resources. The oil & gas industry in the region is growing at a steady pace due to rising exports and increased exploration of reserves. Government initiatives and foreign investments are driving the industry. The region is also an attractive location for the integration of oil & gas extraction and petrochemical refineries, owing to the abundant availability of oil & gas. The chemical & petrochemical industry is expected to generate higher demand for oil despite the trend of plastic recycling due to growing demand from emerging economies in the Asia Pacific region. Huge investments, a rising population, growing disposable income, and integration of production activities are expected to increase output in the form of fuel and feedstock and, in turn, drive the industrial insulation market.

Major players in the global industrial insulation market include Owens Corning (US), Saint-Gobain ISOVER (Germany), ROCKWOOL (Denmark), Knauf Insulation (US), Armacell (Luxembourg), Insulcon BV (Netherlands), Kingspan Group (Ireland), Johns Manville (US), Nichias Corporation (Japan), and Promat (ETEX) (Belgium).

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Owens Corning is one of the global leaders in the 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. It delivers a broad range of high-quality insulation products. This insulation products conserve energy and improve acoustics, fire resistance, and air quality at their operational locations. The company offers its products for pipes & equipment, tanks, vessels & spheres, ovens, boilers & furnaces, and passive fire suppression industrial insulations. The industrial insulation segment consists of 43 manufacturing facilities. In August 2022, Owens Corning announced the acquisition of Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois.

Saint-Gobain Isover manufactures and markets thermal, acoustic, and fire insulation mineral wool solutions that deliver sustainability and performance. The company has organized its operations through regional segments: Americas, Northern Europe, Southern Europe & Middle East & Africa, Asia Pacific, and High-Performance Solutions (Global). Saint-Gobain offers industrial insulation products under its subsidiary, Isover & KAIMANN. It offers products and insulation solutions for various applications in buildings, transportation, and industries. Saint-Gobain and Alghanim Industries joint venture acquired Izocams from the KOC group. Izocams is a Turkish glass wool and rock wool manufacturer. In December 2021, Saint-Gobain acquired ROCKWOOL India Pvt Ltd., a major manufacturer of stone wool in India with a wide range of insulation products for thermal, acoustic, and fire safety applications. ROCKWOOL India Pvt Ltd. is a licensee of Saint-Gobain technology for manufacturing stone wool in India. This acquisition will strengthen the Group's presence and accelerate its growth in Asia, particularly in India.

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