Implementation of Energy Effective Process in Industries has Raised the Global Industrial Insulation Market
According to a new report published by Reports Monitor titled, “Industrial Insulation Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Industrial Insulation Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Europe and North America are expected to be the dominant regions of this market. Well-developed industrial and power sector have been the major elements influencing the demand for the market.
The layer of coating of resistant material which act as a barrier of targeted energy is termed as insulation. The industrial insulation achieves the resolution of protection and avoid energy loss from the body to which it is applied. There are different materials used for industrial insulation such as mineral fiber which includes glass fibers, fiber rock slag, cellular glass, perlite, and others.
Growing implementation of energy efficient process in industrial plant due to its benefits on application is expressively increasing the demand for the market. Its moistness resistant, climate resistant, fire retardant and temperature control potentials are further complementing the growth in industrial units which is expected to grow the market. Moreover, the market is driving at the high rate by increasing energy cost which have raised the industrial operation cost negatively impacting the profit boundary. Furthermore, Additionally, the increasing demand for well infrastructure & building and increasing awareness among the consumer regarding the advantages of industrial insulation is driving the market. However, lack of awareness among the consumer regarding construction & infrastructure application advantages, is negatively impacting the growth of market.
The Industrial Insulation Market bifurcated into various segments such as type, material, application, end-users, and region. Depending upon the type, the market is segmented into thermal insulation, acoustic insulation, moisture proof and others. Based on the material segment, the market is bifurcated into calcium silicate, mineral wool, glass wool, rock wool, cellular glass, perlite, aerogel, polymer foams, spray foams and others. According to the application wise the market is divided into pipe, boiler, HVAC, chimney liners, combustor and others. On the basis of end-user segment, the market is categorized into oil & gas, steel/ore processing, manufacturing, food and beverage, power and others.
Key Question Answered:
•What will be the market size in 2025 and at what rate it will grow?
•Who are the major key players in global industrial insulation market and what are their strategies?
•Which vertical industry is expected to show major growth?
•What segment and region will lead the market and why?
The major companies profiled in the report include: 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.
For instance, in June 2017, German chemical giant BASF has launched a new Elastospray LWP spray foam insulation for construction industry.
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