Benelux Industrial Insulation Market Size & Outlook
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Benelux industrial insulation market highlights
- The Benelux industrial insulation market generated a revenue of USD 234.9 million in 2023 and is expected to reach USD 350.9 million by 2030.
- The Benelux market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, stone wool was the largest revenue generating product in 2023.
- Stone wool is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial insulation market data book summary
| Market revenue in 2023 | USD 234.9 million |
| Market revenue in 2030 | USD 350.9 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Stone wool |
| Fastest growing segment | Stone wool |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stone wool, Glass wool, CMS Fibers, Calcium silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica |
| Key market players worldwide | Rockwool AS Class B, Owens-Corning Inc, Knauf, Northern Venture Capital Trust, APi Group Corp, Aspen Aerogels Inc, Cabot Corp, Morgan Advanced Materials PLC, Unifrax, Ibiden Co Ltd, Armacell |
Other key industry trends
- In terms of revenue, Benelux accounted for 2.7% of the global industrial insulation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany industrial insulation market is projected to lead the regional market in terms of revenue in 2030.
- Poland is the fastest growing regional market in Europe and is projected to reach USD 263.5 million by 2030.
Stone wool was the largest segment with a revenue share of 25.46% in 2023. Horizon Databook has segmented the Benelux industrial insulation market based on stone wool, glass wool, cms fibers, calcium silicate, cellular glass, foamed plastic, elastomeric foam, perlite, aerogel, cellulose, micro silica covering the revenue growth of each sub-segment from 2018 to 2030.
Oil & gas industry in Belgium and Netherlands is expected to improve on account of increase in oil exploration and transportation activities. The Dutch Continental Shelf holds an extensive growth potential which can emerge as a potential target market for industry growth in the region.
Furthermore, the Northern Offshore is expected to be fully tapped in the coming years, which is expected to generate new opportunities for the growth of industrial insulation in the economy. However, the decrease in oil prices is expected to stem the production, which is further expected to limit the consumption of insulation materials in the maintenance and operation of existing infrastructure.
Glass wool is anticipated to emerge as one of the major product segments. The use of glass wool is expected to rise in the wake of superior features such as insulation of flat surfaces, reduced energy consumption, protection of personnel vulnerable to heat and fire threats, easy installation, low moisture absorption, and others.
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Industrial Insulation Market Scope
Industrial Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Unifrax | View profile | 1001-5000 | Tonawanda, New York, United States, North America | http://www.unifrax.com/ |
| Armacell | View profile | 1001-5000 | Luxembourg, Luxembourg, Luxembourg, Europe | http://www.armacell.com |
| Northern Venture Capital Trust | View profile | - | Henley In Arden, Warwickshire, United Kingdom, Europe | - |
| Ibiden Co Ltd | View profile | 15212 | 2-1 Kanda-cho, Ogaki, Gifu, Japan, 503-8604 | https://www.ibiden.com |
| Morgan Advanced Materials PLC | View profile | 8783 | Sheet Street, York House, Windsor, United Kingdom, SL4 1DD | https://www.morganadvancedmaterials.com |
| Knauf | View profile | 51-100 | Utrecht, Utrecht, The Netherlands, Europe | https://knauf.be/nl |
| Aspen Aerogels Inc | View profile | 548 | 30 Forbes Road, Building B, Northborough, MA, United States, 01532 | https://www.aerogel.com |
| Rockwool AS Class B | View profile | 12017 | Hovedgaden 584, Hedehusene, Denmark, 2640 | https://www.rockwool.com |
| Owens-Corning Inc | View profile | 18000 | One Owens Corning Parkway, Toledo, OH, United States, 43659 | https://www.owenscorning.com |
| Cabot Corp | View profile | 4300 | Two Seaport Lane, Suite 1400, Boston, MA, United States, 02210 | https://www.cabotcorp.com |
| APi Group Corp | View profile | 29000 | c/o APi Group, Inc, 1100 Old Highway 8 NW, New Brighton, MN, United States, 55112 | https://www.apigroupinc.com |
Benelux industrial insulation market size, by others, 2018-2030 (US$M)
Benelux Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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