Market Segmentation
Insulation system provides long-term as well as immediate benefits to the industry, including protection of equipment, personnel, system, and budget. In addition, insulation is responsible for enhancing the efficiency of the machinery and process performance in the system, which results in a reduction of manufacturing and energy costs. The acoustic performance of insulation in large-scale factories helps to curb high-frequency noises made by machines on the job floor. The application of insulation aids in reducing the capacity and size of new requirements of mechanical equipment. Furthermore, it protects all industrial appliances from fire, prevents the condensation of moisture on the equipment, and protects the equipment at extremely low or high temperatures leading to reduced accidental risks.
Insulation is an effective and cost-efficient way to conserve energy. When industrial equipment, such as brick wall furnaces, are coated with external insulation, it increases their heat storage capacity and stabilizes their average temperature. Industrial insulation also offers other benefits, such as protecting pipes from frost at low temperatures, reducing high-frequency noise from machines in large-scale factories, and preventing mechanical damage to pipework and other components. Insulation can also help maintain extremely high or low temperatures with fewer accidents. Moisture permeability is a crucial factor in cryogenic engineering, as it can affect the thermal conductivity of insulation. The oil and gas industry, as well as chemical manufacturers, transport their products via vehicles or pipelines. Perlite is often used in the insulation of tanks and containers that transport flammable liquids and high-performance chemicals, to help preserve their original properties.
Insulation makes use of various raw materials such as sand, rock, petrochemical materials, timber and natural fiber, elastomers, polyethylene, and EPS. Most of these materials are derived from crude oil, thereby fluctuating prices of crude oil and can affect the growth of the insulation market. Political conflicts and economic sanctions in crude oil-producing countries such as Qatar, Libya, Iraq, and Russia can further impact crude oil prices. Raw materials are responsible for 50% of the insulation manufacturing cost, making it difficult for the manufacturers to estimate the optimum price for the insulation materials. This creates a potential threat of losing market share to other insulation material segments. Also, the extensive use of crude oil in various applications and the demand-supply balance can affect crude oil prices.
This section will provide insights into the contents included in this north america industrial insulation market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance