Market size – $8.13 billion in 2020, Market growth – at a CAGR of 3.8%, Market trends – Increasing demand for acoustic insulation
— Emergence Research
VANCOUVER, BC, CANADA, June 21, 2022 /EINPresswire.com/ — According to the latest analysis from Emergen Research, the global engineered insulation market is projected to reach US$10.87 billion in 2028, registering a steady CAGR during the forecast period. The steady growth in market revenue is attributed to the increasing use of engineered insulation in the industrial, offshore and marine sectors as it represents a very cost effective option to protect buildings, systems and structures. Rising awareness in various industries of the need for optimized insulation of process equipment and higher insulation standards for building services to achieve higher energy efficiency is expected to drive the growth of the engineered insulation market over the forecast period. Better temperature regulation allows for a better ability to reduce costs and minimize CO2 emissions generated by industry each year. The increasing need to reduce energy consumption for heating and cooling commercial buildings and to minimize the use of fossil fuels has led to an increasing use of engineered insulation.
The Technical Insulation Market research report is a comprehensive and important document that encompasses business strategies, qualitative and quantitative analysis, and emerging trends of the global Technical Insulation market. The report offers in-depth research and assessment of the key elements of the global Industrial Insulation Market. The research analysts have formulated this report through thorough primary and secondary research with detailed analysis of drivers, restraints, challenges, trends and opportunities to provide a panoramic view of the Industrial Insulation market.
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Some key highlights from the report
In January 2020, Owens Corning, a global leader in fiberglass insulation, released a next-generation insulation product from PureFiber Technology. The next-generation insulation product is non-flammable, soft to the touch, easy to use, cut and spill, high strength, low permeability, and eliminates the need for welded mesh for support.
The hot insulation segment accounted for the largest share of sales in 2020. The increasing need to protect pipes from overheating while retaining heat inside the pipe is driving the demand for heat insulating materials in the industrial, marine and offshore sectors.
Revenue of the heating and plumbing segment is expected to increase at a rapid CAGR during the forecast period. The increasing demand for inexpensive insulated pipes with excellent technical properties encourages the use of technical insulation.
The industrial and OEM segment accounted for a significantly large revenue share in the technical insulation market in 2020. The increasing need to reduce energy bills and minimize the CO2 emissions generated by industry each year to achieve higher energy efficiency is expected to further drive the demand for engineered insulation across various industries.
Asia Pacific made the largest contribution to revenue share in the global engineered insulation market in 2020. Increasing investments by private and public organizations in the infrastructure sector in countries like India, China, South Korea and Indonesia are expected to open up lucrative opportunities for manufacturers of technical insulation materials during the forecast period.
The researchers have considered all the factors affecting the growth of the Technical Insulation Market on a global as well as regional level. The report considers the COVID-19 pandemic as one of the most important factors influencing the technical insulation market. The pandemic has disrupted the supply chains and economic scenario of the market, hampering the growth of the market. The report thoroughly discusses the overall impact of the COVID-19 pandemic on the Industrial Insulation market and its key segments. The report also provides current and future impact of the COVID-19 pandemic on the market.
The key players/manufacturers profiled in the report are:
Rockwool International A/S, Saint-Gobain Isover, Owens Corning, Knauf Insulation, Kingspan Group plc, Armacell International SA, L’Isolante K-Flex SpA, Morgan Advanced Materials, Etex Group and Aspen Aerogels, Inc.
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Emergen Research has segmented the global engineered insulation market based on product type, application, end use, and region:
Product Type Outlook (Revenue, $Bn; 2018-2028)
Application Outlook (Revenue, $Bn; 2018-2028)
End Use Outlook (Revenue, $Bn; 2018-2028)
Industry & OEM
The Global Technical Insulation Market is further analyzed across the major geographic locations where the market has grown to a significant size. The key regions analyzed are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The report offers country-wise analysis to provide a comprehensive analysis of the Industrial Insulation Market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional analysis includes:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
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The report offers insightful information on the market dynamics of the Technical Insulation Market. It provides SWOT analysis, PESTEL analysis and Porter’s Five Forces Analysis to provide a better understanding of the Industrial Insulation market, the competitive landscape and the factors affecting it, and to predict the growth of the industry. It also offers the impact of different market factors along with the impact of the regulatory framework on the growth of the Technical Insulation market.
Main benefits of the report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter five forces analysis
In-depth 8-year analysis of the global engineered insulation market
Critical assessment of the most important market segments
Comprehensive analysis of drivers, barriers, trends and opportunities
Detailed regional analysis and extensive company profiles
Comprehensive assessment of current and emerging market trends
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About Emerging Research
Emergen Research is a market research and consulting firm offering syndicated research reports, custom research reports and consulting services. Our solutions are solely focused on your purpose of locating, targeting and analyzing changes in consumer behavior across demographics and industries and helping customers make smarter business decisions. We offer market intelligence studies that ensure relevant and fact-based research across multiple industries including Healthcare, Touch Points, Chemicals, Types and Energy. We are constantly updating our research offerings to ensure our clients are up to date with the latest trends in the market. Emergen Research has a strong base of experienced analysts from different disciplines. Our industry experience and ability to develop a concrete solution to any research problem provides our clients with an opportunity to gain an advantage over their respective competitors.
Engineered Insulation market size worth $10.87 billion in 2028