Insulation Industry to Exhibit Impressive Growth of CAGR during the period 2023-2030

Insulation Industry Data Book Covers Insulation, Industrial Insulation, Building Thermal Insulation, Active Insulation, Electric Vehicle Insulation and Aerospace Insulation Markets.

The economic value generated by the insulation industry was estimated at approximately USD 65 billion in 2022.

Insulation Market Report Highlights

The global insulation market size was estimated at USD 65,064.2 million in 2022, and it is expected to reach USD 102.47 billion by 2030, registering a CAGR of 5.7% CAGR (2022-2030).

EPS insulation emerged as the largest product segment and accounted for a 27.3% share of the global revenue in 2021
The segment is estimated to continue its dominance over the forecast period due to the high demand for EPS on account of its lightweight and high-tensile plastic foam insulation property
Glass wool is expected to be the second-largest product segment by 2030 owing to its thermal and acoustic insulation properties, such as high tensile strength
China accounted for a dominant share of the Asia Pacific regional market in 2021. The market is expected to expand at a significant CAGR during the forecasted years due to the rising oil production in the country
The market is highly competitive owing to the presence of several multinational players that are primarily consolidated in Europe and North America, whereas Asia Pacific exhibits a limited presence of established players

Industrial Insulation Market Highlights

The global industrial insulation market size was estimated at USD 8,384.5 million in 2022, and it is expected to reach USD 12.10 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.1% CAGR (2022-2030).

Stone wool accounted for the largest market share of 23% in 2021, owing to its high-temperature tolerance, flame resistance, and its ability to offer thermal and acoustic insulation
Pipe insulation accounted for the largest share in 2021 and is estimated to reach USD 5.93 billion by 2030, owing to increasing demand from process plants for controlling stabilizing the process temperatures, and preventing of formation of condensation to limit pipe corrosion
Power generation is estimated to exhibit the fastest demand for industrial insulation in terms of revenue, growing at a CAGR of 5.4% from 2021 to 2030, owing to increasing product usage to minimize thermal losses
The Asia Pacific stood at 1,485.5 kilotons in 2021 and is expected to exhibit the fastest growth during the forecast period, which can be attributed to the rapid economic development coupled with the rising adoption of insulation materials in industrial applications

Building Thermal Insulation Market Report Highlights

The global building thermal insulation market size was estimated at USD 33,576.6 million in 2022, and it is expected to reach USD 44.69 billion by 2030, expanding at 4.8% CAGR (2022-2030).

EPS product segment accounted for 31% of the global building thermal insulation industry share in 2022. EPS exhibits excellent dielectric strength, and resistance to chemicals, heat, and moisture, making it a preferred material for insulation of electric components in building applications. Foamed plastics are expected to witness significant demand for building insulation applications, owing to the energy efficiency regulations imposed by various governments across the globe
Flooring applications accounted for over 22% of the overall volume in 2022. To meet thermal insulation standards, the ground floor needs to be strong, and multi-layered foundation including flooring, underlayers, insulating layer, and a base. The insulation materials used for flooring applications require high compressive strength along with superior thermal barrier properties. Thus, XPS is one of the most popular materials used for insulation in flooring applications
Thermal insulation is an essential component used widely in the building construction industry with applications in residential, commercial, office, institutional, and industrial constructions. The residential construction segment is inclusive of residential buildings, apartments, complexes, and small houses. The growth in the number of single-family houses in developing economies and the rising disposable income of consumers are projected to drive residential construction activities. Thus, the growth of the residential construction sector along with growing building energy consumption norms are projected to positively influence the demand for insulation in above mentioned applications
Asia Pacific is expected to witness the fastest growth rate, owing to the massive potential of the construction industry in the region, coupled with mandatory green energy building codes imposed by the various governments. The major economies in the region are anticipated to flourish over the forecast period on account of massive investments by various governments for the development of public infrastructure and the expansion of the residential construction sector, which is expected to benefit the product demand in Asia Pacific

Access the Global Insulation Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies

Active Insulation Market Report Highlights

The global active insulation market size was valued at USD 272.54 million in 2022, and it is expected to reach USD 401.9 million by 2027, expanding at a revenue-based CAGR of 4% CAGR (2022-2030).

The demand for glass wool product for building and construction applications is expected to witness a CAGR of 5.1% by revenue, from 2020 to 2027, on account of its superior heat insulation coupled with ease of application in the construction industry
Polyester emerged as the largest product segment for textile applications in 2019 and is estimated to generate revenue of USD 63.4 million by 2027 on account of efficient moisture handling, non-allergic, and non-itch property
Global expanded polystyrene (EPS) demand in building and construction was estimated at USD 56.7 million in 2019 and is anticipated to witness staggered growth over the forecast period due to improved performance
The U.S. market in sportswear application was estimated at USD 7.1 million in 2019 and is estimated to witness a notable growth rate from 2019 to 2027 on account of increased adoption of such products
Key players including PrimaLoft, Inc.; Polartec; and Economical Building Systems dominated the active insulation market while accounting for over 65% of the total market share in 2019.

Electric Vehicle Insulation Market Report Highlights

The global electric vehicle insulation market size was estimated at USD 1,792.1 million in 2022, and it is expected to reach USD 5.4 billion by 2027 registering a CAGR of 19.5% CAGR (2022-2030).

In China, the demand is expected to grow at an of CAGR 17.4% over the forecast period on account of rising adoption of EVs in the country
In 2019, the revenue for Under the Hood Battery Pack application segment in the North America region stood at USD 96.3 million owing to wide-ranging product utilization for insulating a variety of vehicle components, such as battery packs and electric motor
In Europe, the market is anticipated to reach USD 782.9 million by 2027 due to the rising adoption of EVs as a result of strong regulatory support
In the Asia Pacific, the foamed plastics material segment is expected to register a CAGR of 21.7% over the forecast owing to superior impact resistance and dielectric properties
Manufacturers are focusing on product portfolio expansion and RD for the development of newer hybrid and lightweight materials with improved durability and insulation properties

Aerospace Insulation Market Report Highlights

The global aerospace insulation market size was valued at USD 9,822.2 million in 2022, and it is expected to reach USD 12.28billion by 2027, expanding at a CAGR of 4.2% CAGR (2022-2030).

Ceramic materials are expected to witness the fastest growth from 2020 to 2027 on account of high product penetration in engine application
By product, thermal insulation dominated the market with a share of 66.3% in 2019 owing to the extensive use of thermal insulation in aircraft manufacturing as well as aftermarket
Based on end use, the military segment is expected to reach USD 3.02 billion by 2027 on account of rise in military spending by NATO countries to deal with growing threat of terrorism
North America held the largest share of 40.74% in 2019 owing to increasing demand from the established aircraft industry in the region
Key industry participants are focused on building long-term contracts with the end users in order to gain a competitive edge over their competitors.

Order your copy of the Free Sample of “Insulation Industry Data Book - Insulation, Industrial Insulation, Building Thermal Insulation, Active Insulation, Electric Vehicle Insulation and Aerospace Insulation Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the insulation industry are –

Rockwool Technical insulation
Paroc Group
Knauf Gips KG

Grand View Research’s insulation industry 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.

Go through the table of content of Insulation Industry Data Book to get a better understanding of the Coverage Scope of the study

About Grand View Research

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