Mexico Industrial Insulation Market Size & Outlook
Related Markets
Mexico industrial insulation market highlights
- The Mexico industrial insulation market generated a revenue of USD 108.6 million in 2023 and is expected to reach USD 145.5 million by 2030.
- The Mexico market is expected to grow at a CAGR of 4.3% from 2024 to 2030.
- In terms of segment, glass wool was the largest revenue generating product in 2023.
- Aerogel 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 108.6 million |
| Market revenue in 2030 | USD 145.5 million |
| Growth rate | 4.3% (CAGR from 2023 to 2030) |
| Largest segment | Glass wool |
| Fastest growing segment | Aerogel |
| 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, Mexico accounted for 1.3% 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 North America, U.S. industrial insulation market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 293.6 million by 2030.
Glass wool was the largest segment with a revenue share of 24.49% in 2023. Horizon Databook has segmented the Mexico 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 oil & gas production in the economy is undertaken by both the private and national companies in the economy is expected to spiral over the forecast period which in turn is likely to spur the infrastructure development for oil & gas production and downstream products manufacturing.
The private oil production reached an average value of around 37,000 barrels per day is expected to balloon to 1.4 million barrels by 2031. In addition, growing efforts undertaken by the companies in the aforementioned companies to ensure adequate insulation so as to minimize the energy wastage is expected to drive the market growth over the forecast period.
The utilization of silica composite material for thermal .insulation coating in some unusual equipment such as elbow, valve, water tank, cylinder and containers is expected to attribute to the increase in its demand.
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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 |
Mexico industrial insulation market size, by cellular glass, 2018-2030 (US$M)
Mexico Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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