CHICAGO, June 25, 2019 /PRNewswire/ — According to the new market research reportÃ‚Â “Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Chemical Petrochemical, Oil Gas, Cement, Food Beverage), and Region – Global Forecast to 2024″, published by MarketsandMarketsÃ¢â€žÂ¢,Ã‚Â the Industrial Insulation Market is projected to grow from USD 2.6 billion in 2019 to USD 3.3 billion by 2024, at a CAGR of 5.0%.
Download PDF Brochure:
Browse in-depth TOC onÃ‚Â “Industrial Insulation Market”
64 Ã¢â‚¬â€œ TablesÃ‚Â Ã‚Â Ã‚Â
36 Ã¢â‚¬â€œ FiguresÃ‚Â Ã‚Â
132 Ã¢â‚¬â€œ Pages Ã‚Â
View detailed Table of Content here:
Mineral wool is projected to lead the industrial insulation market during the forecast period.
Based on material, mineral wool is projected to lead the industrial insulation market during the forecast period. Mineral wool is readily available and has properties such as low thermal conductivity, lightweight, and noise reduction, which are responsible for its widespread use in power, chemical petrochemical, cement, food beverage, and oil gas applications.
Request Sample Pages:
Power is projected to register the highest CAGR during the forecast period
Based on end-use industry, the power sector is expected to register the highest CAGR between 2019 and 2024. The use of industrial insulation is increasing in the sector as they provide maximum energy and cost saving. Insulation also helps in prolonging equipment lifespan by reducing temperature fluctuations and maintaining proper operating temperatures. In addition, energy conservation regulations and the need for increasing efficiency of the processes are likely to increase the consumption of industrial insulation materials.
APAC is projected to register the highest CAGR in the industrial insulation market between 2019 and 2024.
The increasing demand for electricity owing to rampant urbanization and industrialization in APAC is expected to fuel the demand for industrial insulation during the forecast period. China, India, Japan, Australia, Indonesia, Vietnam, and South Korea are some of the key industrial insulation markets in the region. The industrial insulation market in APAC has immense growth potential.
Some of the key players in the Industrial Insulation Market are Owens Corning (US), Saint Gobain (France), Kingspan Group PLC (Ireland), Knauf Insulation (Belgium), Rockwool Group (Denmark) and Johns Manville (US). Investment expansion, new product launches, and merger acquisition were the major growth strategies adopted by the market players between 2015 and 2018 to enhance their regional footprint and meet the growing demand for industrial insulation in the emerging economies.
Get 10% Free Customization on this Report:
Browse Adjacent Markets: Foam and Insulation Market Research Reports Consulting
Microporous Insulation MarketÃ‚Â by Product Type (Rigid boards panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy Power, Oil Gas, Aerospace Defense, Automotive), and Region – Global Forecast to 2023
HVAC Insulation MarketÃ‚Â by Type (Glass Wool, Stone Wool, Phenolic Foam, Elastomeric Foam and Others), Application (Residential, Commercial, Industrial) by Region – Global Trends and Forecast to 2021
High Temperature Insulation Materials MarketÃ‚Â by Type (Ceramic Fibers, Insulating Firebricks, Calcium Silicate), Temperature Range (600Ã‚Â°C-1100Ã‚Â°C, 1100Ã‚Â°C-1500Ã‚Â°C, 1500Ã‚Â°C-1700Ã‚Â°C, and 1700Ã‚Â°C Above), End-Use Industry, Region – Global Forecast to 2021
MarketsandMarketsÃ¢â€žÂ¢ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarketsÃ¢â€žÂ¢ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarketsÃ¢â€žÂ¢ are tracking global high growth markets following the “Growth Engagement Model Ã¢â‚¬â€œ GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarketsÃ¢â€žÂ¢ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarketsÃ¢â€žÂ¢ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-insulation-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/industrial-insulation.asp