Global $9.2B Technical Insulation Market by Product Type (Flexible, Rigid, MMF), Application, End-use and Region - Forecast to 2024

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Jan 21, 2020, 07:45 ET

DUBLIN, Jan. 21, 2020 /PRNewswire/ -- The "Technical Insulation Market by Product Type (Flexible, Rigid, MMF), Application (Heating & Plumbing, HVAC, Refrigeration, Industrial Process, Acoustic), End-use (Industrial & OEM, Energy, Transportation, Commercial), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global technical insulation market is projected to grow from USD 7.6 billion in 2019 to USD 9.2 billion by 2024, at a CAGR of 4% between 2019 and 2024.

The major driving factors in the technical insulation market are the presence of stringent regulations regarding the insulation of equipment and pipes and growing demand in the oil & gas sector. However, volatile raw material prices are expected to restrain the growth of the market.

The growing opportunities from emerging economies will bring new growth opportunities for this market. Corrosion under insulation leading to health and safety-related incidents is a challenge expected to be faced by this market during the forecast period.

The man-made mineral fibers segment is expected to grow at the highest CAGR during the forecast period.

Man-made mineral fiber can be divided into stone wool, fiberglass, cellular glass, calcium silicate, microporous insulation, aerogel, and vacuum insulated panels. This segment is projected to register the highest CAGR, in terms of value, between 2019 and 2024. This is because it is used in high-temperature applications in power, oil & gas, and other industries.

Exceptional temperature sustainability, recyclability, long term stability, and availability in different forms, such as boards, pipes, foams, and blankets result in the extensive usage of these materials in diverse end-use industries, which has subsequently led to a stable rise in the use of man-made mineral fiber in the technical insulation market.

Industrial & OEM segment is expected to be the largest and fastest-growing end-use industry during the forecast period

The industrial & OEM end-use industry dominated the technical insulation market in 2018. The huge industrial base and necessity to insulate industrial plants are expected to drive this demand in the global marketplace. In industrial pipelines, high compressive strength insulation is used to maintain nominal thickness during and after installation of the insulation.

Low thermal conductivity, low water absorption, effective noise reduction, and corrosion resistance are the other properties of insulation materials required for industrial insulation. These factors are expected to drive the demand for technical insulation in the industrial segment.

APAC is expected to be the largest region in the technical insulation market during the forecast period.

APAC was the largest market for technical insulation in the industrial application in 2018. The large market size in the region is attributed to the growth of the manufacturing and mining industries in the region. Major manufacturing companies are shifting their base from Europe and North America to APAC due to low labor and raw-material costs.

The key companies profiled in this report are the Zotefoams Plc (UK), Owens Corning (US), Kingspan Group Plc (Ireland), ETEX Group SA (Belgium), Rockwool International A/S (Denmark), Recticel NV/SA (Belgium), Morgan Advanced Materials plc (UK), Armacell International S.A. (Luxembourg), Aspen Aerogels, Inc. (US), Knauf Insulation (Germany), L'ISOLANTE K-FLEX S.P.A. (Italy), Johns Manville (US), Saint-Gobain ISOVER (France), NMC SA (Belgium), Palziv Inc. (Israel), Unifrax I LLC (US), Durkee (Wuhan) Insulation Material Co., Ltd. (China), Huamei Energy-Saving Technology Group Co., Ltd. (China), Wincell Insulation Material Co., Ltd (China), and INTEREP SAS (France).

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Technical Insulation Market
4.2 Technical Insulation Market, By Material Type
4.3 Technical Insulation Market, By Application and Key Countries
4.4 Technical Insulation Market, By End-use Industry
4.5 Technical Insulation Market, Developed vs. Developing Countries
4.6 APAC: Technical Insulation Market
4.7 Technical Insulation Market: Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Power and Energy Requirements in Emerging Economies Owing to Rapid Industrialization and Urbanization
5.2.1.2 Stringent Regulations Mandating Use of Insulation Materials for Energy Conservation
5.2.1.3 Growth in Oil & Gas Demand
5.2.2 Restraints
5.2.2.1 Fluctuation in Availability and Prices of Raw Material
5.2.2.2 Low Awareness About Technical Insulation
5.2.3 Opportunities
5.2.3.1 Increased Infrastructure Spending in Emerging Economies
5.2.4 Challenges
5.2.4.1 High Capital Cost and Lack of Skilled Labor for Installation
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Analysis
5.4.1 GDP of Major Economies in Terms of PPP
5.4.2 Trends and Forecast of Oil Industry and Its Impact on Technical Insulation Market

6 Technical Insulation Market, By Material Type
6.1 Introduction
6.2 Hot Insulation
6.2.1 Excellent Properties of Hot Insulation to Drive the Demand for Technical Insulation Market
6.2.2 Fiberglass
6.2.3 Stonewool
6.2.4 Calcium Silicate
6.2.5 Microporous Insulation
6.2.6 Aerogel
6.2.7 Vacuum Insulated Panel (VIP)
6.3 Cold-Flexible Insulation
6.3.1 Cold-Flexible Insulation Provides Superior Physical and Mechanical Properties
6.3.2 Elastomeric Foams
6.3.3 Ethylene Propylene Diene Monomer (EPDM)
6.3.4 Polyethylene (PE) & Xpe Foams
6.3.5 Polypropylene (PP)
6.3.6 Other Polyolefin (PO) & Extruded Polyolefin (XPO)
6.4 Cold-Rigid Insulation
6.4.1 Usage of Cold-Rigid Insulation in Commercial Buildings to Boost Consumption of Technical Insulation
6.4.2 Polyurethane (Pu/Pur) and Polyisocyanurate (PIR) Foam
6.4.3 Phenolic Foam
6.4.4 Expanded Polystyrene (EPS)
6.4.5 Extruded Polystyrene (XPS)

7 Technical Insulation Market, By Application
7.1 Introduction
7.2 Industrial Processes
7.2.1 Need for Temperature, Noise, and Vibration Control in Industrial Processes Expected to Drive the Technical Insulation Market
7.3 Heating & Plumbing
7.3.1 Technical Insulation Mainly Used for Insulating Heating & Plumbing Systems to Ensure Safety
7.4 HVAC
7.4.1 Excellent Acoustic and Thermal Performance of Technical Insulation Materials to Drive Consumption in HVAC Segment
7.5 Acoustic
7.5.1 Increasing Need for Sound Control in Pipes and Ducts Expected to Drive the Technical Insulation Market
7.6 Refrigeration
7.6.1 Good Water Vapor Transmission and Low Water Absorption Characteristics Boosting the Demand in Refrigeration Application

8 Technical Insulation Market, By End-Use Industry
8.1 Introduction
8.2 Industrial & Oem
8.2.1 Need for Energy Conservation in Industrial Facilities and Oems Drives the Technical Insulation Market
8.3 Energy
8.3.1 Oil & Gas
8.3.1.1 Increase in Demand for Energy in Emerging Economies Driving the Technical Insulation Market in Oil & Gas Sector
8.3.2 Petrochemical
8.3.2.1 Rising Demand for Petrochemicals in Various Industries Driving the Consumption of Technical Insulation
8.3.3 Others
8.4 Transportation
8.4.1 Automotive
8.4.1.1 Growing Demand for Technologically Advanced Vehicles to Drive the Technical Insulation Market
8.4.2 Aerospace
8.4.2.1 Increasing Demand for Fuel-Efficient Aircraft to Spur the Demand for Technical Insulation
8.4.3 Marine
8.4.3.1 Need for Heat and Fire Protection in Boats and Ships to Drive the Technical Insulation Market
8.5 Commercial Buildings
8.5.1 Technical Insulation in Commercial Buildings Saves Cost and Provides Thermal Comfort

9 Technical Insulation Market, By Region
9.1 Introduction
9.2 Europe
9.3 APAC
9.4 North America
9.5 Middle East & Africa
9.6 South America

10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 Market Ranking Analysis
10.6 Competitive Scenario
10.6.1 Investment & Expansion
10.6.2 New Product Development/Launch
10.6.3 Acquisition
10.6.4 Contract & Agreement, Joint Venture, and Partnership

11 Company Profiles
11.1 Rockwool International A/S
11.2 Saint-Gobain Isover
11.3 Owens Corning
11.4 Knauf Insulation
11.5 Kingspan Group PLC
11.6 Armacell International S.A.
11.7 L'isolante K-Flex S.p.A.
11.8 Morgan Advanced Materials PLC
11.9 Etex Group S.A.
11.10 Aspen Aerogels, Inc.
11.11 Zotefoams PLC
11.12 Johns Manville
11.13 Recticel N.V./S.A.
11.14 NMC S.A.
11.15 Palziv Inc.
11.16 Unifrax I LLC
11.17 Durkee (Wuhan) Insulation Material Co. Ltd.
11.18 Huamei Energy-Saving Technology Group Co. Ltd.
11.19 Wincell Insulation Material Co. Ltd.
11.20 Interep S.A.S.

For more information about this report visit https://www.researchandmarkets.com/r/tpueu0

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