Japan Industrial Insulation Market Size & Outlook, 2023-2030
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Japan industrial insulation market highlights
- The Japan industrial insulation market generated a revenue of USD 295.1 million in 2023 and is expected to reach USD 446.4 million by 2030.
- The Japan market is expected to grow at a CAGR of 6.1% 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 295.1 million |
| Market revenue in 2030 | USD 446.4 million |
| Growth rate | 6.1% (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, Japan accounted for 3.4% 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.
Stone wool was the largest segment with a revenue share of 22.5% in 2023. Horizon Databook has segmented the Japan 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 GDP growth of the Japanese economy was estimated at 1% in 2015-16 in the wake of high market maturity leading to low growth potential. In addition, the gradual weakening of the Japanese Yen has also led to a limiting of the GDP growth in the economy leading to low industrial growth.
The Japanese production of major chemicals such as ethylene and plastics such as PVC, PE, etc. has exhibited slow growth which in turn has limited the demand for insulation. In addition, the oil & gas industry in the economy has also exhibited limited market growth on account of maturity in the production levels as a result, the market for industrial insulation is expected to register limited growth over the forecast period.
The demand for stone wool and glass wool insulation in the economy is expected to rise due to high demand from the oil & gas and petrochemical products manufacturing industry. In addition, the growth of the LPN/LNG transportation in the country is expected to drive the market growth over the forecast period.
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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 |
Japan industrial insulation market size, by calcium silicate, 2018-2030 (US$M)
Japan Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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