China Industrial Insulation Market Size & Outlook, 2023-2030
China Industrial Insulation Market, 2018-2030 (US$M)
Global Market
Related Markets
China industrial insulation market highlights
- The China industrial insulation market generated a revenue of USD 832.6 million in 2023 and is expected to reach USD 1,165.9 million by 2030.
- The China market is expected to grow at a CAGR of 4.9% 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 832.6 million |
| Market revenue in 2030 | USD 1,165.9 million |
| Growth rate | 4.9% (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, China accounted for 9.7% 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 Asia Pacific, China industrial insulation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 465.8 million by 2030.
The market for industrial insulation in China is expected to grow in the wake of notable industrial development driven by the growth of the power generation market. In addition, rising demand for the advanced industrial insulation materials on account of growth of the oil & gas production is expected to propel the market growth over the forecast period.
In addition, the market is anticipated to rise due to the increasing adoption of insulation materials due to the efforts to ensure high energy efficiency. However, the ongoing coronavirus outbreak in the country has impacted the manufacturing industry, thus is likely to have negative impact in the overall industrial production of the country.
Thus, the demand for industrial insulation materials is likely to witness a slow growth in 2020 and is anticipated to ascend slowly from third quarter of the same year. In countries such as China, where the use of insulation materials is more widespread, the rising awareness with regards to the benefits of insulation to achieve energy efficient buildings, together with rising energy prices, are increasing the importance of insulation materials in construction.
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Publish Date: Sep 11, 2024
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Industrial Insulation Market Scope
Industrial Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| APi Group Corp | View profile | 29,000 | c/o APi Group, Inc, 1100 Old Highway 8 NW, New Brighton, MN, United States, 55112 | www.apigroupinc.com |
| Cabot Corp | View profile | 4,300 | Two Seaport Lane, Suite 1400, Boston, MA, United States, 02210 | www.cabotcorp.com |
| Owens-Corning Inc | View profile | 18,000 | One Owens Corning Parkway, Toledo, OH, United States, 43659 | www.owenscorning.com |
| Rockwool AS Class B | View profile | 12,017 | Hovedgaden 584, Hedehusene, Denmark, 2640 | www.rockwool.com |
| Aspen Aerogels Inc | View profile | 548 | 30 Forbes Road, Building B, Northborough, MA, United States, 01532 | www.aerogel.com |
| Knauf | View profile | 51-100 | Utrecht, Utrecht, The Netherlands, Europe | knauf.be/nl |
| Morgan Advanced Materials PLC | View profile | 8,783 | Sheet Street, York House, Windsor, United Kingdom, SL4 1DD | www.morganadvancedmaterials.com |
| Ibiden Co Ltd | View profile | 15,212 | 2-1 Kanda-cho, Ogaki, Gifu, Japan, 503-8604 | www.ibiden.com |
| Northern Venture Capital Trust | View profile | - | Henley In Arden, Warwickshire, United Kingdom, Europe | - |
| Armacell | View profile | 1001-5000 | Luxembourg, Luxembourg, Luxembourg, Europe | www.armacell.com |
China Industrial Insulation Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Industrial Insulation Market Outlook will help companies and investors design strategic landscapes.
Stone Wool was the largest segment with a revenue share of 24.12% in 2023.
Horizon Databook has segmented the China 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.
The market for industrial insulation in China is expected to grow in the wake of notable industrial development driven by the growth of the power generation market. In addition, rising demand for the advanced industrial insulation materials on account of growth of the oil & gas production is expected to propel the market growth over the forecast period.
In addition, the market is anticipated to rise due to the increasing adoption of insulation materials due to the efforts to ensure high energy efficiency. However, the ongoing coronavirus outbreak in the country has impacted the manufacturing industry, thus is likely to have negative impact in the overall industrial production of the country.
Thus, the demand for industrial insulation materials is likely to witness a slow growth in 2020 and is anticipated to ascend slowly from third quarter of the same year. In countries such as China, where the use of insulation materials is more widespread, the rising awareness with regards to the benefits of insulation to achieve energy efficient buildings, together with rising energy prices, are increasing the importance of insulation materials in construction.
- China Industrial Insulation Market Product Outlook (Revenue, USD Million , 2018-2030)
- Stone wool
- Glass wool
- CMS Fibers
- Calcium silicate
- Cellular Glass
- Foamed Plastic
- Elastomeric Foam
- Perlite
- Aerogel
- Cellulose
- Micro Silica
- Others
- China Industrial Insulation Market Application Outlook (Revenue, USD Million , 2018-2030)
- Pipe
- Board
- Blanket
- Others
- China Industrial Insulation Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Power Generation
- Petrochemical & Refineries
- EIP Industries
- LNG/LPG
- Others
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China Industrial Insulation Market, 2018-2030 (US$M)
China industrial insulation market statistics, by product, 2018-2030 (US$M)
