Industrial Thermal Insulation: A Global Strategic Business Report
San Jose, California (PRWEB) November 15, 2011
Follow us on LinkedIn - The recent economic slowdown, which sent ripples of unrest in most of the industry segments, not surprisingly left the global industrial thermal insulation market in a state of bother during 2008 and 2009. The financial crisis led world economic recession crippled vital industries across the globe, such as, manufacturing, construction, industrial, chemicals, petrochemicals, automotive, oil and gas, consumer goods, and energy generation, among others. All of these industries reeled under the pressure exerted by the recession manifested in the form of fall in the business confidence index, bleeding corporate balance sheets, enterprise skepticism over infrastructure/capital investments, tight liquidity/financial constraints, diminished manufacturing and commercial activity, weakness in new construction and renovation/remodeling projects, rising levels of unemployment, lower demand for automotive, industrial & consumer products and reduced energy consumption as a result of decline in demand from major energy-consuming sectors such as manufacturing, automobiles and construction industries, among numerous others. Demand for thermal insulation as a result, declined across all product sectors including fibrous and cellular industrial thermal insulation. The industry witnessed order cancellations, cut in inventories by customers and lower demand from economically sensitive end user segments such as automotive and consumer goods industry. Projects cancellations in the energy sector, which forms another prominent end user segment for the industry, also impacted the growth prospects of industrial thermal insulation market. With recession exerting extreme pressure on the market, a tilt in the demand towards low cost alternatives within product mixes was observed, which negatively impacted the profit margins of manufacturers.
Following the temporary decline, the global industrial thermal insulation market bounced back in the year 2010 and is expected to experience healthy growth in the upcoming years. Growth in the market over the next few years will be especially driven by continued rise in energy prices and the need to control heating and cooling costs, which account for major portion of the total energy expenditure in most of the industries using efficient thermal insulation products. Growing opportunities from niche product segments are also expected to boost market opportunities for industrial thermal insulation market over the next few years. For instance, natural insulation products, which are extracted from renewable plant or animal sources, require comparatively less amount of energy for extraction and production of the final product, and therefore are being highly pursued by industries worldwide. Soy-based foam insulation in particular is gaining greater market acceptance in the US owing to its low cost and soft texture.
Technological developments in the field of thermal insulation promises to introduce several new insulation materials in the marketplace, thereby also helping attract new opportunities for the market. New material alternatives for industrial thermal insulation such as straw panels, insulated panels, foam insulation, insulating masonry products, and a range of specialized devices will attract tremendous opportunities for the market over the next few years. Insulation material providers in Europe are also experimenting with a wide range of materials such as flax fibers, wool, recycled jute and recycled newspaper, to generate more cost-effective and efficient insulation options. Offering viable alternatives to conventional fiberglass, mineral wool and cellulose insulation, such material and insulation technologies are gaining acceptance for niche applications. The thermal insulation market will also be driven by replacement and improvement applications, as industries look to refurbish their existing plants applying efficient thermal insulation technologies for optimal energy efficiency.
As stated by the new market research report on Industrial Thermal Insulation, the United States represents the largest regional market for industrial thermal insulation worldwide. Asia-Pacific is the fastest growing regional market, with dollar sales from the region projected to wax at a CAGR of about 4.6 % over the analysis period. The market is expected to benefit from the urbanization trend being witnessed in emerging markets such as China and India. Surge in infrastructure investments in these countries are also expected to create market climate conducive for future growth of insulation products in the region. Cellular thermal insulation represents the fastest growing independent market segment by material type, with dollar sales waxing at a CAGR of about 3.7% over the analysis period.
Major players in the marketplace include BASF Polyurethanes GmbH, Bilfinger Berger Industrial Services AG, CECA, Cellofoam North America Inc., DBW Advanced Fiber Technologies, Flachshaus GmbH, Flumroc AG, Glava A/S, Industrial Insulation Group LLC, Isolatek International Inc., Johns Manville, Knauf Insulation Ltd., Knauf Insulation GmbH, Owens Corning, Paroc Oy AB, Rockwool International A/S, Roxul Inc., Saint-Gobain, CertainTeed Corporation, Moy Isover Ltd, StyroChem International, The Dow Chemical Company, Thermafiber Inc., Uralita Group, and URSA Deutschland GmbH.
The research report titled “Industrial Thermal Insulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of current market trends, growth drivers, issues, recent industry activity, and profiles of major/niche global market participants. The report provides annual estimates and projections for industrial thermal insulation market in US$ million for market segments, Fibrous Insulation Material, and Cellular Insulation Material, among others, across all major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, the Middle East, and Latin America.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Industrial_Thermal_Insulation_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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