Industrial Thermal Insulation Market 2019 | Potential Growth, Size & Share, Demand and Analysis of Key Players- Forecasts To 2023

Industrial Thermal Insulation Market – Overview:

Thermal Insulation are used to restrict the flow of heat energy from hotter side to colder side. They are predominantly utilized in numerous end use industries such as power generation, automotive, petrochemical & refineries, aerospace & defense, and others. Industrial Thermal Insulation Market is expected to witness moderate growth due to their demand for various process control in petrochemical & refineries, power generation, and other end use industries.  In addition, among the material segment calcium silicate accounted for the largest market share due to their broad service temperature range around 35 deg C to 815 deg C. Furthermore, Perlite segment is estimated to with the tremendous CAGR due to their heavy usage in many industrial application. Among the end use segment, petrochemical & refineries segment accounted for the largest market share and holds for around 45 % due to their robust presence in across the globe.

Geographically, North America emerged as the largest market for Industrial Thermal Insulation followed by Europe and Asia Pacific. The Asia Pacific Industrial Thermal Insulation Market is predicted to witness healthy growth with a moderate CAGR over the forecast year on account of rising industrial base for many end use industries in these region. Furthermore, the demand for industrial thermal insulation is estimated to rise in various countries of Asia Pacific such as China, India, Japan, and South Korea due to continuous expansion of automotive sector combined with high adoption rate from numerous end use industries. Apart from this, growing investment by major market players in their innovation and research & development activities and shifting of Industrial Thermal Insulation manufacturing unit in this region is estimated to fuel the Industrial Thermal Insulation regional market growth. North American market is estimated to witness healthy growth on account rising demand for Industrial Thermal Insulation in petrochemical & refineries. North American market is further segmented into U.S. and Canada, among them U.S. is predicted to be the major contributor in the regional market growth due to robust growth of aerospace & defense and petrochemical & refineries. European market is expected to witness above average growth owing to rising awareness regarding the benefits associated with the product as well as increasing purchasing power of consumer. In addition, developing countries of Latin America and the Middle East & Africa are estimated to witness steady growth on account of strong consumer base for automobile and power generation.

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Industry/ Innovation/ Related News:

June 2017- Recticel Insulation, a Belgian Group, one of the leading manufacturer of PIR insulation announced to expand its production facilities located in Finland. The new manufacturing unit will manufacture high performance rigid polyurethane foam (PIR) panels for thermal insulation for the construction sector. With this expansion, the company will able to meet the increasing demand for thermal insulation in North Europe.

May 2017- Hitachi Chemical Co. Ltd announced to acquire Isolite GmbH, German manufacturer of thermal insulations for aircraft, automobiles, and other industrial applications. With this acquisition Company is following its medium term management plan in which the company aim is to strengthen their automotive products business by expanding their overseas development, manufacturing and sales bases.

February 2017- Synavax announced to launch its industrial thermal insulation coating. This product is used to withstand harsh industrial and outdoor environments and offers an economical spray on application with no exterior jacketing required. These are used in various industrial application such as industrial furnaces, heat exchangers, industrial ovens, steam pipes and valves, brewing tanks, and others. With this product launch the company strengthen its position in industrial thermal insulation market.

June 2017- ISD Solutions, one of the subsidiary of P&M Group announced to acquire PLG Insulations, an industrial insulation company. With this acquisition, the company extend their range of complementary services offered to clients.

Competitive Landscape:

The Industrial Thermal Insulation Report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The Global Industrial Thermal Insulation Market includes a large number of suppliers operating in the market which includes large scale and medium scale producers. Some of the prominent market players operating in the Global Industrial Thermal Insulation Industry has shifted their focus towards growth association specifically by Asia Pacific as medium level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Apart from this, the key manufacturers are focusing on expanding their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are increasing their manufacturing capacity of industrial thermal insulation to meet the growing demand for Industrial Thermal Insulation.

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Industrial Thermal Insulation Market 2017: Trends, Size, Share, Growth and Forecast 2023

Industrial Thermal Insulation is used to obstruct the flow of heat energy from high temperature to low temperature. It is used across all process industries to decrease energy consumption and to ensure that a desired temperature is maintained in an area without need of additional heating or cooling equipment. It is used to carry out numerous functions such as process control, condensation control, noise reduction, energy conservation, and reduction of environmental pollution. Moreover, they are used to protect equipment from corrosion and degradation and widely utilized in various end use industries such as automotive, aerospace & defense, power generation, petrochemical & refineries, and others.

Some of the prominent factors that positively influence the growth of the Industrial Thermal Insulation Market are rapid industrialization, increasing popularity of advanced insulation material, and developments in high temperature insulation wools. Moreover, rising automotive production and sales coupled with continuous expansion of automotive sector is predicted to fuel the demand for Industrial Thermal Insulation Market. Additionally, increasing use of spray on thermal insulation coatings in heavy duty vehicles is expected to drive the market growth. Furthermore, recovery in plant constructions and emphasis on energy efficiency benchmarking is estimated to drive the industrial thermal insulation market. Increasing use of advanced insulation material such as vacuum insulation panels and nano insulation panels are predicted to give a new encouragement in the growth of industrial thermal insulation market.

Competitive Analysis:
The major players operating in the Industrial Thermal Insulation Market are ROCKWOOL Technical Insulation (Denmark), 3M (U.S.), Paroc Group (Finland), TechnoNICOL Corporation (Russia), NICHIAS Corporation.(Japan), Pittsburgh Corning Corporation (U.S.), Evonik Industries AG (Germany), Armacell Enterprise GmbH & Co. KG (Germany), BASF SE (Germany),  Cabot Corporation (U.S.) among others.

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Market Segmentation:
The Global Industrial Thermal Insulation Market is segmented on the basis of material, end use, and region. On the basis of material, the market is segmented into calcium silicate, mineral fiber, foamed plastic, perlite, cellular glass, and others. Other material includes elastomeric foam, refractory fiber, and insulating cement. Among these, calcium silicate hold the largest market share on account of its wide service temperature range from 35 deg C to 815 deg C. Moreover, it is non-combustible and possess high compressive strength due to which it is predominantly used on hot piping and surfaces. Perlite segment is expected to grow with the healthy CAGR owing to its extensive use in many industrial application. On the basis of end use, the market is categorized into petrochemical & refineries, power generation, aerospace & defense, automotive, and others. Among these, petrochemical & refineries is predicted to hold the largest market share due to strong presence of these industries across the globe. Petrochemical & refineries segment is followed by power generation segment, and is expected to grow with the healthy CAGR due to high adoption rate of various industrial thermal insulation material.

Regional Analysis:
North America is estimated to be the largest Industrial Thermal Insulation Market followed by Europe and Asia Pacific on account of strong existence of many key market players. European countries such as Germany, U.K, and Spain are predicted to register a strong growth due to significant demand for advanced industrial thermal insulation based material in the automobile sector. In Asia Pacific, countries such as China, Japan, and India are the fastest growing market, and is predicted to grow at the same pace over the forecast period. Improving living standards along with the rapid industrialization is estimated to contribute to the regional market growth. In North America, the U.S and Canada are among the major contributors to the regional market growth due to expansion of aerospace & defense as well as rising innovations. The Middle East and Africa is predicted to witness a steady growth owing to rising foreign investments and shifting of manufacturing base for end use industries to these region.

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Key Points from Table of Contents:

1    Executive Summary

2    Scope of the Report

3    Market Research Methodology

4    Market Landscape

5    Industry Overview of Global Industrial Thermal Insulation Market

6    Market Trends

7. Global Industrial Thermal Insulation Market by Material

8. Global Industrial Thermal Insulation Market by End Use

9. Global Industrial Thermal Insulation Market by Region

10. Company Landscape

11. Company Profiles

11.1       ROCKWOOL Technical Insulation
11.1.1    Company Overview
11.1.2    Product/Business Segment Overview
11.1.3    Financial Updates
11.1.4    Key Developments

11.2       3M
11.2.1    Company Overview
11.2.2    Product/Business Segment Overview
11.2.3    Financial Updates
11.2.4    Key Developments

11.3       Paroc Group
11.3.1    Company Overview
11.3.2    Product/Business Segment Overview
11.3.3    Financial Updates
11.3.4    Key Developments

11.4       TechnoNICOL Corporation
11.4.1    Company Overview
11.4.2    Product/Business Segment Overview
11.4.3    Financial Updates
11.4.4    Key Developments

11.5       NICHIAS Corporation.
11.5.1    Company Overview
11.5.2    Product/Business Segment Overview
11.5.3    Financial Updates
11.5.4    Key Developments

12. Conclusion

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