Global Industrial Insulation Market was valued at US$ 11.58 Bn in 2019 and is expected to reach US$ 19.58 Bn by 2026, at a CAGR of 6.78% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
To know about the Research Methodology:-Request Free Sample Report
Insulation is a layer or coating of resistant material, which serves as a barrier to the targeted energy. Various industries use various products of insulation for the purpose of energy conservation and improve the efficiency of machines, systems, equipment, and components. Industrial insulation fulfills the purpose of protection and avoids energy loss from the body which applied onto.
Industrial insulation materials are generally non-conducting materials, which act as a barrier to the flow of heat, sound, moisture, and others. During such processes, industrial material transferring through pipes, and vessels, boilers, storage tanks, and others. These types of equipment are being insulated with insulation wraps/sheets, coatings, and adhesive & sealants material to reduce the energy consumption as well as to maintain the nature of the material.
Insulation increases the efficiency of production processes thereby reducing energy consumption. Similarly, regulatory presence in various regions to minimize energy consumption has set the enhanced consumption of industrial insulation material. The factor further expected to drive the growth of this market due to the increasing focus of regional government to reduce energy consumption.
The most common application of industrial insulation is to make the system thermal resistant and leakproof. Single or multiple layers of a thermal insulator are applied to the fluid conduction pipes or on the boiler surface. Also, different Products of industrial insulators are present in the global market, which can be in the form of flexible sheets and pre-formed shaped, flexible blankets, rigid boards, blocks, sheets, and pre-formed shapes, foams, liquids (spray, paints), etc.
Based on the product, the wrap/sheets segment is expected to contribute a major revenue share to the global market and is expected to maintain its dominance over the forecast period. On the other hand, the high cost of industrial insulation in specific applications, such as industrial piping, is expected to limit the industrial insulation demand.
In terms of application, the chemical processes segment accounts for the highest share in terms of revenue in the global market. Chemical processes accounted for over 25% share of the global market and are projected to grow at the highest CAGR. The chemical process has been sub-segmented with the emergence of ethylene crackers as the leader, which accounted for USD 256.6 Mn in 2017. Followed by chemical processes, the power generation segment is expected to attain promising growth over the assessment period 2017-2026.
As of 2017, North America was the most promising regional level industrial insulation market across the globe and the U.S. was the major contributor to this growth. Additionally, the U.S. has generated the largest revenue of US$ 789 Mn. China and India are collectively driving the growth of the Asia Pacific market and accounted for over 50% share of the regional market in 2017. As per our analysis, a large number of industries are present in China, and it is expected to be the most promising country-level market over the review period, 2018-2026.
The report covers a global and regional level estimation and analysis for the industrial insulation market. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. The Industrial Insulation market report covers an in-depth study of the global and regional market and market attractiveness analysis, wherein the application, product, and regional segments are benchmarked based on their growth rate, general attractiveness, and market size.
The key market players operating in the global industrial insulation market are Asahi Kasei Corporation, Kingspan Group Plc, Johns Manville, Covestro AG, The Dow Chemicals Company, Armacell, Insulcon Group, Isolatek International, BASF SE, Owens Corning, Saint-Gobain S.A., and Saint-Gobain S.A.
Scope of the Global Industrial Insulation Market: Inquire before buying
Global Industrial Insulation Market, by Product:
• Wraps/Sheets
• Coatings
• Adhesive & Sealants
Global Industrial Insulation Market, by Application:
• Chemical Processes
• LNG
• Power Generation
• Heat Exchangers
• Storage Tanks
• Boilers
• Hot & Cold Process Equipment
• Others
Global Industrial Insulation Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia-Pacific
• Latin America
Key Players Operating in the Global Industrial Insulation Market:
• Asahi Kasei Corporation
• Kingspan Group Plc
• Johns Manville
• Covestro AG
• The Dow Chemicals Company
• Armacell
• Insulcon Group
• Isolatek International
• Knauf Insulation Sprl (Knauf Group)
• Pacor, Inc.
• Refractory Specialties Incorporated
• Rockwool International A/S
• BASF SE
• Owens Corning
• Saint-Gobain S.A.
For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-industrial-insulation-market/23315/
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
