The global industrial insulation market size was valued at USD 11.49 billion in 2016. Application of thermal insulation materials help in increasing process efficiency, condensation control, noise reduction, freeze protection, and reduction in environmental pollution.
Government initiatives to promote energy efficiency and sustainable development through insulation technologies are anticipated to drive the market. The selection of a particular material is mainly influenced by factors such as operating temperature, service & maintenance, physical stress, fire protection, vibration, and water ingress.
U.S. Industrial Insulation market revenue by product, 2014 - 2025 (USD Billion)
It is useful for reducing heat loss, which occurs during manufacturing and maintenance activities carried out in the operational facility. Reduced environmental impact, protection of personnel at the operating end, and enhanced process security are potential benefits, which is likely to spur the demand for these products. Easy availability in various forms such as flexible sheets, pre-formed shapes, flexible blankets, and rigid blocks, foams, boards, and sheets is slated to play a key role in creating a wider acceptance of these materials in several applications.
Rising energy costs have impacted major industries in terms of increased operational costs. As a result, industries across the globe are actively adopting thermal and acoustic insulation technologies to tackle the burgeoning costs. This trend is expected to drive the demand in industrial applications.
There exists a high level of integration in the market due to the efforts of raw material suppliers to forward-integrate in order to manufacture insulation products, expand their scope of operation, and penetrate new markets. Manufactured products usually follow the supply chain and reach end-users through distribution channels such as government contractors, retailers, and wholesalers.
Foamed Plastic, classified as EPS and XPS, is expected to witness a rapid growth owing to its applications in ducts, equipment functioning under below-ambient temperatures, because of its high compressive strength, etc.
Glass Wool, on account of its features, such as reduced energy consumption, personnel safety, low moisture absorption and easy installation, is used for insulating heat exchangers, expansion joints, and other industrial equipment.
Stone wool is gaining significance owing to its advantages such as sufficient heat isolation, fire safety, dimensional stability, high chemical resistance, vapor permeability; enabling its applications in the insulation of tanks, industrial boilers, and vessels, with allied benefits of surface temperature minimization and heat loss resistance.
Aerogel is claimed as the lightest solid material, as compared to other materials. It is recognized for its features such as energy conservation, reduction of jacketing and banding, etc. It is used for large bore-piping, vessels, etc.
The distinguishing feature of perlite is its ability to expand four to twenty times its original volume on being exposed to a suitable heating point in its softening range, enabling its applications for insulating ovens & crucible toppings, and high temperature foundry cores & molds.
Petrochemical & Refineries is likely to emerge as the largest as well as fastest application segment. Power generation is expected to emerge as the second fastest application segment. Insulation plays a significant role in thermal power generation. They benefit by facilitating energy conservation, heat-loss reduction, production, personal and equipment safety along with increasing economic benefits.
Petrochemical industries encounter three major hurdles, i.e. the corrosion of materials, risks arising out of accidental leaks and spills, and loss of heat in thermal transmission. These plants are insulated for benefits such as energy conservation, heat gain/loss reduction, maintaining a uniform temperature, efficient operation of equipment or chemical reaction, condensation prevention, etc.
Global industrial insulation market by application, 2016 (%)
It becomes imperative for refineries to install insulation for several factors such as resistance to compression, fire, vibration, mechanical damage, corrosive fluids or gasses, steam emissions, etc. Significant hazards in this sector occur due to the nature of petrochemicals and the process technologies used in the production pattern.
The intensity of isolation used in the United States relative to GDP, population size, and fixed investment spending exceeds global norms due to the country’s massive and diverse industrial base. The demand in North America is likely to be triggered due to rising applications in pipe & tubing, fabricated board, etc.
The industrial insulation in Europe is focused towards achieving significant energy saving and emissions alleviation potential resulting out of the improved thermal insulation in EU27. This potential is currently unexploited although being cost-effective and this factor is slated to play a key role in wider application of industrial products in various end use industries.
In Asia Pacific, in countries such as China, India, Japan, etc., rising awareness with regards to the benefits of thermal isolation to achieve energy efficiency, together with increasing energy costs, have triggered the product demand. In the other countries, there is a generalized lack of legislation when it comes to thermal lining and building standards, further explaining the low levels of consumption.
The major business players in the market include Rockwool Technical Insulation, Paroc, Knauf Gips KG, TechnoNICOL Corporation, etc. These companies have evolved as major players in the production and supply of products. With an aim to serve a larger industry base, they are also trying to expand their product portfolio by focusing on developing cost-effective material with enhanced properties.
Rapid industrialization has evoked the emergence for energy efficiency, thus triggering the demand. Increased awareness about safety of the personnel deployed near excessive heat-generating machinery has fueled the need for fire-resistive thermal insulating materials. Other concerns, such as risks arising out of accidental spillages and leakages of chemicals, high energy consumption, heat loss in process equipment, etc. have consequentially provoked the demand.
Base year for estimation
Actual estimates/Historical data
2014 & 2015
2017 - 2025
Volume in Million Square meters , Revenue in USD Million & CAGR from 2017 to 2025
North America, Europe, Asia Pacific, Latin America & MEA
U.S., Canada, Germany, UK, France, Poland, Italy, Benelux, Nordics, CIS, China, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Vietnam, GCC, Turkey, Mexico, Colombia, Argentina, Brazil
Revenue forecast, competitive landscape, growth factors and trends
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Segments covered in the report
This report forecasts volume & revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this report, Grand View Research has segmented Industrial insulation market on the basis of product, application and region:
Product Outlook (Volume, Million square meters; Revenue, USD Million, 2014 - 2025)
Application Outlook (Volume, Million square meters; Revenue, USD Million, 2014 - 2025)
Petrochemical & Refineries
Regional Outlook (Million square meters, USD Million, 2014 - 2025)
Middle East & Africa (MEA)
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