Turkey Industrial Insulation Market Size & Outlook
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Turkey industrial insulation market highlights
- The Turkey industrial insulation market generated a revenue of USD 104.1 million in 2023 and is expected to reach USD 139.9 million by 2030.
- The Turkey market is expected to grow at a CAGR of 4.3% 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 104.1 million |
| Market revenue in 2030 | USD 139.9 million |
| Growth rate | 4.3% (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, Turkey accounted for 1.2% 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 Middle East & Africa, Gulf Cooperation Council industrial insulation market is projected to lead the regional market in terms of revenue in 2030.
- Gulf Cooperation Council is the fastest growing regional market in Middle East & Africa and is projected to reach USD 252.9 million by 2030.
Stone wool was the largest segment with a revenue share of 25.36% in 2023. Horizon Databook has segmented the Turkey 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.
According to Petroleum Market Annual Sector Report, the economy accounted for the production of around 28,937,115 tons of petroleum products in 2017, with imports accounting for over 42 million tons of products.
High production levels achieved by the Turkish economy coupled with the growth of petrochemical products manufacturing industry are factors expected to drive the market over the forecast period. In addition, the market is expected to witness growth in the wake of the adoption of advanced operational trends by power generation and oil & gas industries in the economy.
Moisture resistance is a beneficial characteristic provided by elastomeric foam. Other features that widen the application scope of elastomeric foam include solid thermal performance, durability, and user-friendly installation.
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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 |
Turkey industrial insulation market size, by product, 2018-2030 (US$M)
Turkey Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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