According to the market's latest report, the global advanced insulation material market has been expected to increase at a CAGR of 9.8%, with a value of USD 8.42 billion during the estimated forecasting period of 2022-2030.
The materials containing the transmission of the noise, heat, and electric current are considered insulation materials. Advanced materials like gas-filled panels, vacuum insulation panels and aerogel-based products. Such types of material are specially used in many industrial sectors and the manufacturing industries. Compared to traditional insulation materials, this has thermal insulation property, low-density rate, and low thickness. Many environmental companies have started new policies for energy conservation with the usage of advanced materials. These advanced insulation materials are heavily used in several industries like building construction, automobile, oil and gas plant, and even power generation facilities. Despite all of this, there are also several disadvantages in advanced insulation materials like the vulnerability toward penetration and the thermal bridges at panel edges. It is also true that it cannot be cut, broken or adopted at the building or any construction site.
The demand for advanced insulation material market is increasing due to reducing the energy sectors or energy consumption in the building structure. It will increase the growth of the market sectors. Several industries are also implementing advanced insulation materials to conserve energy. It will drive the advanced insulation material market growth facilities worldwide. The increasing demand of the building construction industries will drive the advanced materials market so far. The oil & gas plant sectors and the automobile industry are growing. The increasing demand for is also rising due to the on-growing of the global population.
The advanced insulation material market was negatively affected due to the outbreak of the global epidemic. The industries like oil & gas plants, building & construction industries, automobile, power generation plants were bound to stop their entire production work and temporarily shut down during the lockdown time. According to this, the decrement in demand for advanced insulation materials heavily affects such industries. The entire global market has been faced a huge loss due to the stoppage of international commercial activities. Several investors and shareholders of the global sectors have implemented a stay order on the investment sectors due to the loss in the revenue sectors. Many government sectors and the leading economic sectors also stopped for some time. The global share market has been faced a downfall in the value and supply chain criteria.
Chief Factors Existing in the Market:
Cumulative Evaluation of the Market:
The composite insulation material has high thermal and acoustic efficiency. It can replace the glass and ceramic insulators used in existing and new buildings. It also helps solve the low resistance under mechanical stress and the low resistance to vapor diffusion. But the spreading of the global pandemic has changed everything. It affects the advanced insulation material market share and affects almost every industrial and manufacturing industry worldwide. Due to the stoppage of international commercial vehicles, several factories have implemented a temporary shutdown of the industrial sectors. During the lockdown, most investors and business owners wanted to invest their amount in the new advanced insulation material market sectors as they came up with new and advanced technology to overcome the current global situation. After the lockdown, the wide global demand increased significantly, which was the biggest issue. Due to the lockdown of several regions and the implementation of the international border shields, many industrial faces have faced a huge loss in the business sectors. The biggest issue for all the industrial owners was how to overcome the global epidemic situation.
The rising demand of the global people and the increasing global population ultimately led these industrial sectors and the global advanced insulation material market sectors to be so high. Due to the stoppage of production work, most industrial owners have decided to hand over their business to the major industrial players. However, the investment and leading financial sectors are also hugely affected by the global epidemic time.
According to the advanced insulation material market analysis report, the global market has been segmented into material type, end-use industry and regional sectors. In terms of the material type, the entire advanced insulation material market has been divided into four parts aerogel, gas-filled panels, vacuum insulation panels and others. The aerogel is further divided into two types excellent thermal insulation and low density. According to the end-use industry section, the entire advanced insulation material market has been segmented into oil & gas, building & construction, automobile, power generation, etc. The regional basis is further divided into five sections Asia-Pacific, Europe, South America, North America, and Middle East & Africa.
Asia-Pacific is expected to increase and hold the market for advanced insulation material market during the estimated forecasting period. The growth of the oil and gas and the construction sector in the region has a significant boost with the demand for insulation panels. Moreover, India is one of the leading advanced insulation materials markets, which is expected to boost in the forecasting quarters. With the increase in the demand for oil and gas in the transportation industries, the advanced insulation materials market sector is expected to grow rapidly in the upcoming years. The aerospace industries in South Korea also drive the exceptional growth potential with the strong demand from the military sector, which is a key factor to estimate the global advanced insulation materials market sector. The investment sectors in the construction fields and the emergence of the economy, including China, India, and Indonesia, are expected to increase the growth of the advanced insulation materials market sectors worldwide.
Competitive Intensity within the Industry:
The high-performance insulation materials are witnessing a large demand from the oil and gas sectors due to the increasing demand for subsea pipeline applications. Additionally, these materials offer fire and water resistance, excellent thermal resistance, enhanced acoustic insulation, lightweight and reduced thickness, required in the oil and gas plant sectors. The oil and gas industry in the Asia-Pacific region is growing hugely due to the increasing demand for energy and petrochemicals. The region is China, India, Indonesia, South Korea, and Japan. Some of the major market players are:
Recent Market Development:
January 2022: Arkema received UL Yellow Card certification for two new advanced insulation materials of polyamide 11 powder coating grades intended for use in electric vehicle battery systems and other applications. The new grades were developed to fulfil specific requirements from the H/EV industry that have been identified as a result of restrictions associated with traditional insulation materials such as epoxies. Both grades achieved CTI values of greater than 600 volts and UL 94 V-0 fire resistance. Additionally, the materials are believed to be simple to treat due to their high degree of flexibility and capability of being easily disguised. Additionally, Arkema supplies grades of Kepstan PEKK, an exceptionally high-performance polymer, for electrical applications that require temperatures higher than those supported by other polymers. Additionally, Kepstan PEKK will have a higher thermal runaway resistance than previous alternatives.July 2019: A new kind of material could unlock new applications for solar heat. It can be used for home heating or industrial processes which uses a new kind of aerogel, using a structure made of silica. This material is developed by Lin Zhao, and Evelyn Wang, along with six others
The entire study report has provided thorough information on the global growth in the advanced insulation materials market sectors. This analysis report also presents the key aspects, major market challenges, market opportunities, and market restraints. The study report also details the covid-19 analysis and its impact on the global market. In the segment section, a reader can easily find the Major market segmentation and the regional basis analysis part added in this file.
Key Industrial Segmentation:
|Market Size||USD 8.42 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Material Type, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Aspen Aerogels, Inc. (US), Cabot Corporation (US), 3M (US), Advanced Insulation Limited (UK), Aerogel Technologies, LLC (US), Guangdong Alison Hi-Tech Co., Ltd (China), Morgan Advanced Materials (UK), Unifrax (US), LUYANG ENERGY-SAVING MATERIALS CO.,LTD (China), Aegion Corporation (US), Armacell International Holding GmbH (Germany), Trelleborg (France), and AFGlobal (US).|
|Key Market Opportunities||The need for space and weight saving materials adds to the growth|
|Key Market Drivers||The significant need to reduce the energy consumption of a building envelope has increased the demand|
The advanced insulation material market is predicted to grow at an 9.8% CAGR between 2022-2030.
The APAC region is predicted to lead the advanced insulation material market.
Key competitors in the advanced insulation material market include AFGlobal (US), Trelleborg (France), Armacell International Holding GmbH (Germany), Aegion Corporation (US), LUYANG ENERGY-SAVING MATERIALS CO., LTD (China), Unifrax (US), Morgan Advanced Materials (UK), Guangdong Alison Hi-Tech Co., Ltd (China), Aerogel Technologies, LLC (US), Advanced Insulation Limited (UK), 3M (US), Cabot Corporation (US), and Aspen Aerogels, Inc. (US).
Building and construction industry will dominate the advanced insulation material market.
High manufacturing cost may deter market growth.