INDUSTRIAL INSULATORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Rising industrial activities have fuelled significant investments in new plants, machinery, and infrastructure expansion activities across major process industries. The oil and gas, petrochemical, power, mining, and other core sectors are spending heavily on setting up new production facilities to meet the burgeoning demand. At the same time, existing manufacturing setups also require the revamping and upgrading of their facilities at regular intervals. All such new construction and renovation projects involve extensive installation of insulation systems for thermal management, corrosion protection, personnel safety as well as compliance with energy codes. Growing investments in expanding production capacities and building new process plants augur well for sustained demand for industrial insulation from the infrastructure perspective. For instance, according to data published by the International Energy Agency report on July 11, 2023, the operations of buildings account for 30% of the global final energy consumption and 26% of the global energy-related emissions (8% being direct emissions in buildings and 18% indirect emissions from the production of electricity and heat used in buildings). Prominent industry players are also continuously carrying out major capital expenditure towards insulation retrofitting and recoating works at their operational sites leading to recurring sales opportunities.

• Owens Corning
• SAINT-GOBAIN (ISOVER)
• Johns Manville
• Rockwool
• Nichias Corporation
• Knauf Insulation
• Promat (Etex)
• Armacell International SA
• Aerofoam USA LLC
• Insulcon B.V.
• Beipeng Building Materials Group Co.,LTD.
• Cabot Corporation
• GlassRock
• NMC International SA
• PGF Insulation Sdn Bhd