Industrial Thermal Insulation Market Research Report- Forecast to 2030

Industrial Thermal Insulation Market Research Report Information By Material (Calcium Silicate, Mineral Fiber, Foamed Plastic, Perlite, Cellular Glass), By End-user (Petrochemical & Refineries, Power Generation, Aerospace & Defense, Automotive, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/CnM/3447-HCR | 136 Pages | Author: Priya Nagrale | February 2024         

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Global Industrial Thermal Insulation Market Overview


The Industrial Thermal Insulation Market Size was valued at USD 2.58 Billion in 2022. The Industrial Thermal Insulation industry is projected to grow from USD 2.72 Billion in 2023 to USD 3.74 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.77% during the forecast period (2023 - 2030). Industrial thermal insulation refers to the process of reducing or controlling heat transfer in industrial settings by applying materials that have low thermal conductivity to surfaces and equipment that are exposed to high temperatures. The main goal of industrial thermal insulation is to maintain a stable temperature in the working environment, reduce energy consumption and costs, increase safety by reducing the risk of burns or fires, and extend the lifespan of equipment by minimizing thermal stress. This process involves selecting and installing appropriate insulation materials such as fiberglass, mineral wool, foam, or reflective materials depending on the application, temperature range, and other environmental factors.
Industrial Thermal Insulation Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Industrial Thermal Insulation Market Trends




  • Increase in demand for enhancing equipment efficiency




an increase in demand for enhancing equipment efficiency is expected to drive the growth of the market. Industrial thermal insulation is an important aspect of energy conservation and efficiency in many industries, including oil and gas, power generation, chemical, and manufacturing. By reducing heat transfer from hot surfaces, insulation helps to conserve energy and improve efficiency in industrial processes. Moreover, the growing emphasis on sustainable and energy-efficient operations in various industries is driving the demand for industrial thermal insulation. Governments and regulatory bodies around the world are implementing stringent regulations to reduce energy consumption and greenhouse gas emissions in industries. This is further expected to increase the adoption of industrial thermal insulation as a means of achieving these goals. Additionally, the increasing demand for industrial thermal insulation in emerging economies, such as China, India, and Brazil, due to the growing industrialization and infrastructure development activities is also expected to drive market growth. Overall, the need for enhanced equipment efficiency and energy conservation, coupled with the market.


Industrial Thermal Insulation Market Segment Insights


Industrial Thermal Insulation Material Insights


The market segmentation, based on Material, includes Calcium Silicate, Mineral Fiber, Foamed Plastic, Perlite, and Cellular Glass. The Calcium Silicate segment may dominate the market. As it is preferred as a replacement for asbestos for high-temperature insulation due to its superior infrared radiation barrier. Common uses for calcium silicate include industrial-grade machinery and pipes for high temperatures.


Industrial Thermal Insulation End-user Insights


Based on End-user, the market segmentation includes Petrochemicals & Refineries, Power Generation, Aerospace & Defense, Automotive, and Others. The Petrochemical & Refineries application is holding the largest market share. The petrochemical and refineries industry involves the production of chemicals, fuels, and other materials from crude oil and natural gas. This industry is characterized by high-temperature operations and requires insulation solutions that can withstand extreme temperatures, prevent heat loss, and enhance energy efficiency.


Figure 2: Industrial Thermal Insulation Market, by Material, 2022 & 2030 (USD Billion)
Industrial Thermal Insulation Market, by Material, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Industrial Thermal Insulation Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the Asia Pacific region dominates the Market in terms of both demand and revenue. The Asia Pacific region comprises countries such as China, Japan, India, South Korea, and Australia, among others. The region is witnessing significant industrial growth, driven by increasing investments in the manufacturing sector, rising infrastructure development, and favorable government initiatives. Moreover, the region has a large industrial base, including the petrochemical and refineries, power generation, and chemical industries, which are the primary end-users of industrial thermal insulation. The increasing demand for energy-efficient and sustainable operations in these industries is driving the growth of the market in the region.


Figure 3: INDUSTRIAL THERMAL INSULATION MARKET SHARE BY REGION 2022 (%)
INDUSTRIAL THERMAL INSULATION MARKET SHARE BY REGION
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Industrial Thermal Insulation Key Market Players & Competitive Insights


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Industrial Thermal Insulation industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Industrial Thermal Insulation industry to benefit customers and expand the market sector. Major market players, including Rockwool Insulation, Poroc Group, Knauf Insulation, TechnoNICOL Corporation, Anco Products Inc, and others are attempting to increase market demand by funding R&D initiatives.


Rockwool International A/S is a Danish manufacturer of mineral wool insulation products. Rockwool has production facilities in over 25 countries, including the United States, Canada, and several European countries. Rockwool's product line includes a range of insulation solutions for various applications, including building insulation, industrial insulation, marine insulation, and acoustic insulation. The company's products are made from natural and recycled materials, including volcanic rock, slag, and basalt.


Poroc Group is a Finnish manufacturer of high-performance insulation materials. Poroc Group's product line includes a range of insulation solutions for various applications, including building insulation, industrial insulation, and marine insulation. Poroc Group's insulation materials are made from recycled glass, a sustainable and environmentally friendly material. The company's products are designed to provide superior thermal insulation performance, reduce energy consumption, and improve energy efficiency in buildings and industrial processes. In addition to its focus on sustainability and energy efficiency, Poroc Group is dedicated to innovation and research, and development. The company has its research and development center and collaborates with universities and research institutions to develop new and improved insulation solutions.


Key Companies in the Industrial Thermal Insulation market include




  • Rockwool Insulation




  • Poroc Group




  • Knauf Insulation




  • TechnoNICOL Corporation




  • Anco Products Inc




  • Aspen Aerogels Inc




  • Cabot Corporation




  • Morgan Advanced Materials




  • Unifrax




  • RATH Group




Industrial Thermal Insulation Industry Developments


October 2022: The Knauf Group has announced intentions to spend around €135 million at Knauf Insulation's factory in Târnăveni, Romania, to enhance Mineral Wool manufacturing capacity throughout Central and Eastern Europe.


Industrial Thermal Insulation Market Segmentation


Industrial Thermal Insulation Material Outlook




  • Calcium Silicate




  • Mineral Fiber




  • Foamed Plastic




  • Perlite




  • Cellular Glass




Industrial Thermal Insulation End-user Outlook




  • Petrochemical & Refineries




  • Power Generation




  • Aerospace & Defense




  • Automotive




  • Others




Industrial Thermal Insulation Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 2.58 Billion
Market Size 2023 USD 2.72 Billion
Market Size 2030 USD 3.74 Billion
Compound Annual Growth Rate (CAGR) 4.77% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Material, End-user, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Rockwool Insulation, Poroc Group, Knauf Insulation, TechnoNICOL Corporation, Anco Products Inc, Aspen Aerogels Inc, Cabot Corporation, Morgan Advanced Materials, Unifrax, RATH Group
Key Market Opportunities Reducing heat loss or gain, facilitating temperature control of the process, and improving the operating efficiency of steam, power systems, and heating equipment found in industrial installations.
Key Market Dynamics Increasing awareness, rising consumption of insulation products, growing population.




Frequently Asked Questions (FAQ) :

The Industrial Thermal Insulation market size was valued at USD 2.58 Billion in 2022.

The market is projected to grow at a CAGR of 4.77% during the forecast period, 2023-2030

Asia Pacific had the largest share of the Industrial Thermal Insulation market

The key players in the market are Rockwool Insulation, Poroc Group, Knauf Insulation, TechnoNICOL Corporation, Anco Products Inc, Aspen Aerogels Inc, Cabot Corporation, Morgan Advanced Materials, Unifrax, and RATH Group

The Calcium Silicate category dominated the market in 2022

Petrochemicals & Refineries had the largest share in the market for Industrial Thermal Insulation

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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