Kenneth Research published a report titled “Industrial Insulation Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global industrial insulation market in terms of market segmentation by material type, function, foam, end user industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global industrial insulation market garnered revenue of around USD 2,400 million by the end of 2021 and is anticipated to grow at a CAGR of ~6% over the forecast period 2022 – 2031. On the basis of material type, the market is segmented into mineral wool, ceramic fiber, calcium silicate, polyurethane, polyethylene polystyrene, polyvinyl chloride, cellular glass, and others. Among these, the mineral wool segment is expected to witness the largest share of the market over the forecast period on the back of factors, such as, better thermal conductivity as well as its inflammable property that prevents fire accidents. Furthermore, the product is recyclable and has a wide range of applications which makes it suitable for use in different purposes where insulation is required.
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The growth of the market can also be attributed to the rising efforts to save the environment and to reduce the ever-increasing global warming. Industrial insulation is important as it helps in energy saving and heat management. Additionally, insulation promotes cost-saving and balances temperature in the industrial premises. Safety of workers is another factor that raises the significance of industrial insulation as it helps in elimination of metal injuries and accidents by fire as well as maintaining health of the workers. Furthermore, initiatives by government for energy conservation and a change in industrial operating standards that mandates insulation is expected to contribute towards the market growth during the forecast period.
Geographically, the global industrial insulation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the North America region is expected to grow at a noteworthy growth during the forecast period. The growth of the market in the region can primarily be attributed to the rising demand for industrial insulation in end-use industries and the growing need for energy saving. The industrial sector in the region is more inclined towards energy saving and cost efficiency which creates a need for such insulation products.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Need for Cost and Energy Saving Among Industries to Fuel the Market Growth
Manufacturing processes leads to huge amount of pollution that creates ecological imbalance. Governments worldwide are focusing upon sustainability and they promote the idea of energy conservation. Industrial insulation positively caters to this environmental concern and provides a long-term solution which is expected to drive the market growth during the forecast period. Insulation helps in balancing the environment and providing better working conditions to the labor. It helps in reducing heat exchange and maintaining the desired temperature in the industry’s manufacturing ground which is expected to further boost the market growth.
However, huge cost of installation as well as frequent change in the price of raw materials that are used in the manufacturing of insulators are expected to operate as key restraint to the growth of global industrial insulation market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global industrial insulation market which includes company profiling ofABB, W.S. Industries, Aditya Birla Insulators, Bharat Heavy Electricals Limited, Knauf Insulation, Kingspan Group, Cabot Corporation, Armacell, Etex NV, Recticel Insulation, and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial insulation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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