Exploring Growth Opportunities in the Insulation Sector 2023-2030: A Comprehensive Market Research
Insulation Industry | Forecast 2030
Insulation Industry Data Book - Board Insulation, Blanket Insulation, Pipe Insulation and Others (Foam) Insulation Market
Grand View Research’s insulation sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Insulation Industry Data Book Coverage Snapshot
Markets Covered
- Insulation Industry USD 53.34 billion in 2022, 4.7% CAGR (2022-2030)
- Board Insulation Market Size USD 12.85 billion in 2022, 3.6% CAGR (2022-2030)
- Pipe Insulation Market Size USD 17.71 billion in 2022, 5.3% CAGR (2022-2030)
- Blanket Insulation Market Size USD 14.50 billion in 2022, 5.6% CAGR (2022-2030)
- Other Insulation Market Size USD 8.26 billion in 2022, 3.1% CAGR (2022-2030)
Access the Global Insulation Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Pipe Insulation Market Growth & Trends
The global pipe insulation market size is expected to reach USD 13.57 billion by 2030, registering a CAGR of 5.5% from 2023 to 2030 according to a new report by Grand View Research, Inc. Increasing infrastructure spending in the emerging markets of Asia Pacific and Central and South America is expected to propel market growth.
The price structure of the product varies with respect to production processes and raw materials used. Fluctuating raw material prices result in variations in the prices of thermal insulating materials, thus affecting the suppliers who have integrated themselves across the value chain, thereby enabling them to gain superior control over product pricing.
The growing adoption of cogeneration or combined cooling, heat, and power (CCHP) technology for electricity generation is expected to drive the product demand. In addition, rising investments in R&D activities to optimize and lower the cost of insulation materials including polyurethane (PU) and polyisocyanurate are expected to benefit the market.
Order your copy of the Free Sample of “Insulation Industry Data Book - Board Insulation, Blanket Insulation, Pipe Insulation and Others (Foam) Insulation Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Board Insulation Market Growth & Trends
The board insulation market is growing at a significant rate owing to a rise in infrastructural and residential development as a result of the growing population across the globe. In addition, board insulation provides excellent thermal performance from ambient to high temperatures for mechanical, power, and process systems. Board insulation is widely used for industrial applications; owing to the low shrinkage it exhibits at high temperatures, to prevent the formation of gaps at joints to prevent thermal leaks.
China dominated the Asia Pacific board insulation market and accounted for a revenue share of 54.6% in 2022, followed by Japan and India. The rapid development of the industrial and construction sectors in China and Japan is likely to propel the market in Asia Pacific. The stringent laws and guidelines introduced by regulatory bodies at the regional as well as international levels regarding equipment & facility protection are likely to trigger overall growth prospects.
Go through the table of content of Insulation Industry Data Book to get a better understanding of the Coverage & Scope of the study
Blanket Insulation Market Growth & Trends
Removable and reusable insulation blankets are commonly used for industrial applications, such as boiler, metal, and masonry walls. These blankets are self-contained insulation systems, which lower the operation costs by reducing energy consumption, and shorten the downtime. Removable insulation blankets are used where installation of conventional insulation is difficult; hence reduce the labor costs associated with installation, thereby driving the market. Additionally, increased infrastructure spending in the emerging markets of Asia Pacific and Latin America is expected to propel the blanket insulation market's growth.
Blanket insulation is designed to provide excellent handling characteristics, thermal performance, and dimensional stability in applications including heat exchangers, storage tanks, stack installations, cooling towers, air conditioning ductwork, and large-diameter piping, among others. Increasing construction spending to improve residential, public, and industrial infrastructure in the region, coupled with the increasing adoption of energy conservation initiatives, is expected to drive the demand for blanket insulation over the forecast period.
Other Insulation Market Growth & Trends
The other insulation market includes foam-based blocks, materials in the form of loose-fill, foil-faced craft paper. The market is expected to grow at a significant rate over the coming years due to rising construction and renovation activities across the globe. In addition, increasing demand from the cryogenic application industry for specialized and customized insulation requirements, growth in remodeling activities, and government initiatives for the construction of affordable housing solutions are expected to fuel the growth of the other insulation market in the coming years.
Building & construction and industrial application together accounted for the major market share of about 85% in 2022. Factors such as the rising population, rapid urbanization, commercialization, and growing investments in the construction of houses with smart technology saving energy are expected to boost the growth of the market in the country.
Competitive Insights
The global insulation industry is competitive, owing to the presence of a large number of major players in the market. Major players, such as Rockwool Technical Insulation, Paroc Group, and Knauf Gips KG hold the majority of the market share, due to their vast product portfolio and wider geographical reach. These companies develop a strong business model to adapt to market volatility and any technological & geographical change. The players prefer to maintain strategic relationships with their raw material suppliers in an attempt to maintain a steady supply.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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