Industrial Thermal Insulation: A Global Strategic Business Report
San Jose, California (PRWEB) September 12, 2013
Follow us on LinkedIn – Growth in the global industrial thermal insulation market is primarily driven by increasing energy costs and declining energy resources necessitating an urgent need for energy optimization by industries. Another key factor driving market growth is product innovation led by continued technological advancements. Innovative insulation products developed to satisfy the ever-changing preferences of customers are expected to sustain demand growth over the long term. Thermal insulation research is currently focused on developing nanotechnology based materials that can offer enhanced energy efficiency.
Strong GDP in emerging economies of Asia-Pacific and Latin America will help sustain growth in the global market while developed economies face yet another round of economic uncertainty. Furthermore, several insulation manufacturers from the developed countries are moving production to low cost destinations such as China, India, Indonesia and Brazil, among others, to leverage the advantage of cheap manpower and input supply as well as close proximity to a market base with huge potential.
Another key driver for future growth includes stringent insulation legislations against a backdrop of rising concerns related to the long term impact of greenhouse gases on the ecosystem from increasing energy consumption by industries. Thermal insulation that minimizes heat loss from boilers, ovens, tanks, pipes, vessels and other equipment will enable companies to adhere to the strict environmental regulations being formulated by regulatory authorities worldwide.
Rising significance of foam as a cost-effective and efficient alternative to conventional insulation materials such as Mineral Wool and others is emerging as a key growth driver for the market. Recycled materials are increasingly used in the production of insulation materials especially in developed economies such as the US, the UK, Germany, Canada, and Japan. With increasing awareness about environmental issues, usage of eco-friendly insulation products derived from renewable plant or animal sources is gaining prominence. Natural insulation materials including cellulose, soy-based foam and recycled cotton feature lower embodied energy as compared to traditional insulation products.
Robust power generation activity across the world is expected to fuel demand for thermal insulation in the next few years. Insulation finds extensive application in not just conventional power generation plants but also in alternative energy plants such as nuclear and solar power. Driven by high growth end-use sectors such as oil & gas, power generation, automotive and aerospace and defense, High Temperature Insulation (HTI) systems are expected to witness significant growth going forwards. Another breakthrough technology is Microporous insulation, which is gaining increased acceptance due to its unique ability to save energy and maximize operating efficiencies through its resistance to all known heat transfer modes.
As stated by the new market research report on Industrial Thermal Insulation, the United States represents the largest market worldwide, followed by Europe. Asia-Pacific is forecast to spearhead growth with the fastest CAGR of 6.2% over the analysis period. Growing GDP, rapid pace of industrialization and ballooning production and industrial bases represent key factors driving growth in the region.
Key players covered in the report include Armacell, BASF Polyurethanes GmbH, Cabot Corporation, CECA, Cellofoam North America Inc., Chongqing Polycomp International Corp., ContiTech AG, DBW Advanced Fiber Technologies GmbH, Flachshaus GmbH, Flumroc AG, G+H Isolierung GmbH, Glava A/S, Huntsman Corporation, Industrial Insulation Group LLC, Isolatek International Inc., Knauf Insulation Ltd., L’ISOLANTE K-FLEX, Microtherm N.V., Morgan Thermal Ceramics, Owens Corning, Paroc Oy AB, Pittsburgh Corning Corporation, Porextherm Dämmstoffe GmbH, PPG Industries, Rockwool International A/S, Saint-Gobain, Sebald Isosysteme, StyroChem International, The Dow Chemical Company, Unifrax LLC and Uralita Group, among others.
The research report titled “Industrial Thermal Insulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, industry overview, trends, growth drivers, latest product launches and recent industry activity. The report provides market estimates and projections in US$ for material types including Fibrous, Cellular and Others. Geographic markets analyzed in the report include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), The Middle East and Latin America (Brazil and Rest of Latin America).
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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.
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