North America Industrial Insulation Market Size, Share & Trends Report

North America Industrial Insulation Market Size, Share & Trends Analysis Report By Material (Glass Wool, Stone Wool, CMS Fibers), By Product, By End-use, By Country, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-726-1
  • Number of Pages: 109
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the north america industrial insulation market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for north america industrial insulation market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of north america industrial insulation market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

North America Industrial Insulation Market Categorization:

The north america industrial insulation market was categorized into four segments, namely material (Stone Wool, Glass Wool, CMS Fibers, Calcium Silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica), product (Pipe, Board, Blanket), end-use (Power Generation, Petrochemical & Refineries, EIP Industries, LNG/LPG Transportation & Storage), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The north america industrial insulation market was segmented into material, product, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The north america industrial insulation market was analyzed at a regional level. The region was divided into North America, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into three countries, namely, the U.S.; Canada; Mexico

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

North america industrial insulation market companies & financials:

The north america industrial insulation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Rockwool Insulation A/S is engaged in the engineering, manufacturing, and distribution of stone wool insulation products. Its insulation segment comprises of products with fire-resistant and energy-efficient properties for industrial, building, and technical sectors. These products are used in pipework, tanks, columns, vessels, chimneys, boilers, and cold boxes. Moreover, these products find applications in the area of technical insulation in offshore, marine, and process industries as well as residential & non-residential buildings. Additionally, it provides customized core solutions for original equipment manufacturers (OEM) and other industrial partners. The product portfolio of the company includes attic insulation for sloped & sloped roofs and unconditioned attics as well as OEM insulation for OEM, fire doors, chimneys, HVAC, sound panels, solar panels, appliances, and transportation.

  • Paroc Group Oy is engaged in manufacturing and distributing mineral wool insulation products. The company operations are divided into two segments, namely building insulation and technical insulation. The building insulation segment offers advanced products for sound, fire, & thermal insulation of exterior walls, floors, intermediate floors, roofs, partitions, and basements. The technical insulation segment provides insulation products for OEM and marine & offshore industries as well as industrial processes and HVAC systems. The company’s products have applications in data centers, shipbuilding, and concert halls for fire & moisture resistance, soundproofing, and emissions. These products include slabs, mats, loose wools, pipe sections, bends, and segments.

  • Knauf Insulation provides cement board products for use in hospitals, private houses, swimming pools, laundries, spas & wellness centers, fitness & leisure sectors, and catering kitchens. It also offers products such as gypsum boards for drywall systems, high-density gypsum fiber elements, self-leveling calcium sulfate floor screed mortar, sheathing boards, and glass mineral wool. Furthermore, it offers bonding gypsum plaster products; plaster gypsum products; Silentboard, a sound shield board; glass blowing wool; Knauf Safeboard, an X-ray shielding plasterboard; gypsum fillers for hand filling of drywall systems; fire protection gypsum plaster products; and perforated or slotted gypsum boards. The company also manufactures construction equipment & tools, floor systems, floor screed, paints, thermal insulation composite systems, plasters & accessories, dry lining systems, and modern insulation materials.

  • TechnoNICOL Corporation is engaged in manufacturing and supplying roofing materials for sloping & flat roofs as well as heat insulating, soundproofing, and waterproofing systems. It operates through four major segments, namely waterproofing materials, heat insulation, sloped roofing, and components. The heat insulation segment is involved in manufacturing products such as stone wool-based heat insulation, fire-resistant and technical insulation, and extruded cellular polystyrene. Its product portfolio also includes roll materials, thermal insulation for plaster & ventilated walls, facades, flat & sloping roofs, and materials for fire protection of building piping and construction. Furthermore, it offers solutions in industrial and civil construction sectors for foundations, floors, facades, flat roofs, and technical insulation. The products are inclusive of mastics, prime coatings, bitumen, heat-insulating materials for buildings, and utilities for the installation of flat roofs including rainwater heads and roofing aerators.

  • NICHIAS Corporation provides engineering products and services for oil refining, electric power, and LPG industries. They offer a range of solutions, such as gaskets, insulating materials, and filter products under the industrial products segment. Besides, they produce specialized products like joint sheets, metal gaskets, PTFE gaskets, and high-performance elastomer O-rings. NICHIAS also has an auto parts segment that offers products for soundproofing, heat-proofing, and vibration control. They also provide noncombustible, fireproof, and thermally insulated building materials. Finally, NICHIAS produces advanced products like FPD and semiconductor manufacturing equipment.

  • Anco Products, Inc. is a company that manufactures and markets air-duct systems and fiberglass insulation products. Their product portfolio includes insulated solutions such as post frame and fiberglass insulation products, plain metal and faced building insulation, resilient blankets used in various vessels and tanks, and accessories for metal building construction markets. They also offer specialty and facing tapes, duct liner insulation products, and OEM mat insulation products for numerous applications, such as sound attenuation panels, appliances, and curb adapters. Additionally, they provide condensation control blankets to protect metal building structures from rust caused by condensation, insulation laminating services for markets including post frame, metal building, and LNG, and garage door insulation kits.

  • Aspen Aerogels, Inc. is involved in design, development, and manufacturing of high-performance, innovative aerogel insulation that finds application in energy-building material and infrastructure sectors. It offers high-performance aerogel insulation blankets for hot and cold service applications. It also provides insulation products like Pyrogel, Spaceloft, and Cryogel for industrial and building applications. These products offer a compact system design, reducing logistics, installation and storage costs, weight, corrosion under insulation, and promoting job site safety and freight. Furthermore, the company offers contract research services for the Department of Energy, the Department of Defense, and other entities.

  • Cabot Corporation is a company that provides specialty chemicals and performance materials to a wide range of industries, including transportation, infrastructure, consumer goods, and environment. It operates through four major segments: performance chemicals, reinforced materials, specialty fluids, and purification solutions. The performance chemicals segment provides specialty carbons and formulations, metal oxides, and additives that enable performance in various applications, such as industrial insulation, building construction materials, silicones, composites, inkjet printing, batteries, electronics, adhesives, and sealants. The reinforcement materials segment specializes in rubber blacks and elastomer composites, where they reinforce carbon black to optimize the performance of rubber products, such as molded goods, belts, hoses, and tires. The specialty fluids segment offers cesium formate brines and fine cesium chemicals, which cater to a wide range of industries, including blazing fluxes, glass, titanium dioxide, oil & gas drilling, and completion fluids.

  • Morgan Advanced Materials Plc. provides products and solutions to numerous markets including industrial, security, energy, electronics, transport, petrochemicals, and healthcare. The major operating segments of the company include thermal ceramics, technical ceramics, electrical carbon, molten metal systems, fire protection, braze alloys, composites & defense systems, seals & bearings, and specialty graphite. The thermal ceramics business segment is engaged in manufacturing advanced ceramic materials, systems, and products for thermal insulation in high-temperature environments. The product portfolio of the thermal ceramics business segment includes high-temperature insulating fiber products such as AES super wool, RCF, and polycrystalline; microporous products including WDS, BTU, and Min-K, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products.

  • Unifrax LLC operates in several business segments that include thermal management, fire protection, emission control, and specialty fibers. The company's thermal management segment offers energy-saving solutions to various industries such as aerospace, appliance, automotive, ceramics, ferrous and non-ferrous materials, glass, industrial ceramics, petroleum products, and power generation. The company’s product portfolio comprises of fabricated products, blankets, boards, bulk fiber, emission control, foamfrax insulation, furnace hardware, fyrewrap, fyrewrap LiB materials, microporous insulation, modules, papers/felts, purefrax hot gas filtration, silplate insulation, specialty fibers, and engineered thermal components.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

North America Industrial Insulation Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

North America Industrial Insulation Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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