Industrial Insulation Market is forecasted to rise at a 5.48% CAGR, reaching USD 9.736 billion in 2031 from USD 7.069 billion in 2025.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Companies |
|
Industrial insulation consists of a substance or material combination that lessens heat loss while delaying the transfer of heat energy. They also make it easier to control surface temperatures, stop water from condensing on cold surfaces, improve operational efficiency, and protect equipment from corrosive environments. Changes in the US electricity and energy industries suggest that the industrial insulation industry has a promising future. Despite persistently high gas prices in the second half of the year, the global production of electricity from gas-fired sources climbed by about 3% in 2021 (Source: iea.org). New techniques for energy production are boosting demand for insulation to maintain the American energy infrastructure as the country moves away from reliance on coal-powered fuels and toward cleaner energy sources. The industry for industrial insulation has a chance to expand due to the current energy landscape's reorganization.
Industrialization will immediately encourage growth.
Construction and industrial activity have increased globally in many locations due to growing urbanization and industrialization. National statistics from the World Bank show that the industrial sector's GDP increased by 28.3% in 2021 compared to 26.3% in 2020. Therefore, the need for insulation used in various industries is anticipated to rise quickly. The advantages of insulation present a market for industrial insulation with significant growth potential. Equipment is protected by insulation from extremely high and low temperatures. Additionally, it lessens the possibility of accidents and avoids moisture condensation. These elements encourage market expansion for industrial insulation.
With an increase in mineral wool manufacturing, the industrial insulation industry will expand.
Mineral wool is a fibrous, flexible material derived from rock or minerals, such as slag or ceramics, and it can be used in various applications to successfully meet the demands for thermal and acoustic insulation. When rock wool and mineral wool insulation are utilized properly on the walls and ceilings of a particular room, the sound insulation is improved and complete. Due to the presence of diverse end-use industries and their investments, the market is expanding quickly, accounting for the majority of this growth. For instance, For the benefit of its customers, Knauf Insulation September 2022 has announced several upgrades in its two UK Glass Mineral Wool factories that it claims will increase capacity and enhance the range, accessibility, and sustainability of its products. The Knauf Insulation factory in Tarnaveni will be able to produce 60,000 tons of mineral wool annually once the entire investment plan is complete to meet both domestic demand and markets in Central and Eastern Europe.
Industrial insulation is expanding due to growth and innovation in the Asia-Pacific.
The Asia Pacific industrial insulation market is driven by rising urbanization, greater electrification, rising disposable income, and rising population. The market in this sector is expected to increase rapidly due to rising petrochemical demand, oil and petrochemical use, rising gas use for power, and a growing population. For regional growth, the Asia-Pacific area is dependent on public-private partnerships. Many Southeast Asian nations have been working to increase their infrastructure spending. For instance, In July 2022, the Indian branch of the ROCKWOOL Group, a Danish global manufacturer of mineral wool goods, opened its doors. By embodying the business and its principles, the experiential centre will improve every connection a customer has with ROCKWOOL as a brand. The 2500 SQFT centre's professionally designed product demos will help clients experience real-life situations. Each of these elements helps the industrial insulation market expand.
Industrial Insulation Market Segmentation:
By Product Type
Board
Blanket
Pipes and tank
Others
By Material
Mineral Wool
Rock wool
Glass wool
Fiber Glass
Calcium Silicate
Foamed Plastic
Others
By End-User
Chemical and Petroleum
Automotive
Construction
Power Generation
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Others