The global industrial insulation market size was valued at USD 8.21 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. 

Increasing product demand for boosting process efficiency, condensation control, noise reduction, freeze protection, and for reducing environmental pollution is expected to drive market growth over the forecast period. In addition, the rising awareness regarding the benefits of insulation in the industrial application and its related costs is expected to drive the market for industrial insulation in North America.

The market witnessed a severe downfall in the investments in the industrial sector owing to the pandemic, thereby impacting the market. In addition, dramatic fall in crude oil prices led to a drop in fiscal resources for oil-producing countries, which affected the product demand from oil & gas sector.

The market in the U.S. is expected to witness increased demand for insulation for industrial applications, such as, machinery, boilers, pipes, and storage tanks, and in linings of heat exchangers, cooling towers, and ventilation & air conditioning systems, among others. The demand outlook for the U.S. is favorable, with private investments in the industrial sector reaching the highest levels in 2018. The industrial sector is predicted to witness significant expansion owing to the rising GDP.

Gather more insights about the market drivers, restrains and growth of the Industrial Insulation Market

Industrial Insulation Market Highlights

• Stone wool accounted for the largest market share of 21.6% in 2022, owing to its high-temperature tolerance, flame resistance, and its ability to offer thermal and acoustic insulation

• Pipe insulation led the market and accounted for about 47.76% share of the revenue in 2022. The market is projected to witness notable demand, expanding at a CAGR 5.5% from 2023 to 2030, due to its superior performance and ability to stabilize the process temperatures.

• Power generation industry is expected to witness a heightened demand for these products, owing to its ability to minimize power losses. Growing concerns regarding the energy management among the power generation industry across the globe is expected to drive the market growth over the forecast period.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global air deflector market size was estimated at USD 11.51 billion in 2023 and is projected to grow at a CAGR of 3.4% from 2024 to 2030. 

• The global district heating market size was valued at USD 190.5 billion in 2023 and is anticipated to grow at a CAGR of 5.2% from 2024 to 2030. 

Industrial Insulation Market Segmentation

Grand View Research has segmented the global industrial insulation market based on material, product, application and region:

Industrial Insulation Material Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

• Stone Wool

• Elastomeric Foam

• Micro Silica

• Glass Wool

• Composites

• CMS Fibers

• Calcium Silicate

• Cellular Glass

• Foamed Plastic

• Perlite

• Aerogel

• Cellulose

• Others

Industrial Insulation Product Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

• Pipe

• Board

• Blanket

• Others

Industrial Insulation Application Type Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

• Power Generation

• Petrochemical & Refineries

• EIP Industries

• LNG/LPG

• Others

Industrial Insulation Regional Outlook (Volume, Kilotons; Revenue; USD Billion; 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o U.K.

o France

o Poland

o Spain

o Italy

o Benelux

o Nordic

o CIS

• Asia Pacific

o China

o India

o Japan

o South Korea

o Indonesia

o Malaysia

o Thailand

o Vietnam

• Central & South America

o Brazil

o Argentina

o Colombia

• Middle East & Africa

o GCC

o Turkey

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