Industrial Insulation Market Poised for Steady Growth and Forecast in the Future
Calcium silicate is one of the most commonly used materials utilized for industrial insulation, primarily for thermal insulation. It can be moulded into rigid shapes and can be reinforced with other materials in order to get improved property of insulation. The calcium silicate based industrial insulations can perform effectively by sustaining through the temperature above 650 °C. The other major material used for industrial insulation is mineral fibre, which includes glass fibres, fibre rock slag, cellular glass, perlite and others. These materials are generally transformed into sheets and are applied to the desired surfaces. They possess numerous advantages such as lightweight and high thermal stability. Mineral fibres and foam based insulators are often used as acoustic insulators due to decent sound absorption properties.
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Industrial Insulation Market: Segmentation
The industrial insulation materials play a vital role in improving performance and safe operation of the system. Also, the proper insulation helps to build confidence among operators to work effectively. Numerous authorities and standardizing norms mandate industries to incorporate proper insulation of all the components or the machines, which are sources of energy loss or are exposed to hazardous environments. The industrial insulation market is highly influenced by the demands from oil & gas, steel, manufacturing, power and other industries, which operate on high temperature or radiating systems. Expanding industrial sector and stringent safety and emission norms associated with them are expected to fuel the demand for industrial insulation. Also, companies are focusing on improving the performance by reducing losses by adhering to regular maintenance practices, which often require replacement of the insulation. This practice is expected to boost the market growth over the forecast period.
Industrial Insulation Market: Segmentation
The global industrial insulation market can be segmented into various categories based on types, materials, application and end-use industries. On the basis of type, the global industrial insulation market is segmented as thermal insulation, acoustic insulation, moisture proof and others. On the basis of material type, the global industrial insulators market is segmented as calcium silicate, mineral wool, glass wool, rock wool, cellular glass, perlite, aerogel, polymer foams, spray foams and others. While on the basis of application, the global industrial insulation market is segmented as pipe, boiler, HVAC, chimney liners, combustor and others. On the basis of end-use industry, the global industrial insulation market is segmented as, oil & gas, steel/ore processing, manufacturing, food and beverage, power and others.
The industrial insulations are produced and applied as per various ASTM standard for insulation - ASTM C533, ASTM C547, ASTM C610, ASTM C552, ASTM C1393 and others.
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Industrial Insulation Market: Region-wise Outlook
During the past few years, Europe and North America have been dominating the global industrial insulation market. Highly developed industrial and power sector have been the main factors influencing the demand for industrial insulation in the regional market. While, growing industrial sector in developing nations of Asia Pacific is estimated to create high market demand for industrial insulation materials in the regional market. On country level, developed countries such as the U.S, Germany, U.K., Japan and Korea are estimated to hold significant share in the global industrial insulation market, while developing countries such as India and China are estimated to grow with significant rate during the forecast period. The oil and gas industries in the MEA and Russia are estimated to attract major players in the industrial insulation market to invest in these regions.
Industrial Insulation Market: Market Participants
The industrial insulation market is characterized by the presence of numerous players manufacturing and catering their products in regional and global market. Examples of some of the players are Knauf Insulation Sprl (Knauf Group), BASF SE, Kingspan Industrial Insulation Ltd., Refractory Specialties Incorporated, Pacor, Inc., Rockwool International A/S, Owens Corning Corporation, ACH Foam Technologies LLC and Berkshire Hathaway Incorporated, among others.
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