The global Insulation Industry was estimated at USD 53.34 billion in 2022 and is anticipated to increase at a significant CAGR of 4.7% from 2023 to 2030.

Grand View Research’s insulation sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Board Insulation Market Insights

The global board insulation market size was estimated at USD 12.8 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. This growth can be attributed to the increased focus on energy efficiency and the growing demand for sustainable building materials across the globe. As the cost of energy increases, there is a growing demand for insulation materials that aid in reducing energy consumption. Board insulation is a highly effective way to insulate buildings and this trend is expected to grow at a significant pace during the forecast period.

Rigid board insulation is highly effective at insulating buildings to curb the energy requirements for heating and cooling. It is effectively easy to install, and the operating cost makes it an ideal choice for most of the building contractors. This is particularly important in cold climates, where it is important to minimize heat loss. As a result, the demand for boards from the building & construction industry is expected to increase during the forecast period.

Manufacturers of board insulation have partnerships with merchants and distributors to ensure the timely supply of boards. Some of the major manufacturers are involved in offering new product launches to increase their market share. Strategic partnerships as well as collaborations, are some of the strategies adopted by major manufacturers to gain competitive advantages.

Blanket Insulation Market Insights

The global blanket insulation market size was estimated at USD 14.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. This growth can be attributed to the increasing use of insulation in building & construction and industrial applications. Blanket insulation can also be utilized for acoustic fabrication in warehouses and other commercial buildings, as well as thermal insulation in interior spaces. The construction industry is expected to reach about USD14 trillion by the end of 2030 due to increasing urbanization and increased spending on housing and remodeling across the globe. Owing to the increase in the use of blankets across the construction sector is expected to drive the market during the forecast period.

The use of blanket insulation generates cheaper energy bills, and year-round comfort by assisting with low maintenance and a comfortable temperature. Additionally, noise reduction from outside and between floors and rooms makes it an ideal choice of insulation for both commercial and residential spaces. Sustainability, comfortability, and low maintenance are some of the major factors fueling the blanket insulation demand throughout the forecast period.

Major manufacturers have partnerships with merchants and distributors to ensure smooth supply throughout the U.S. Manufacturers in the U.S. adopt mergers & acquisitions strategies to boost their overall market share and have a competitive advantage. In addition, manufacturers often have agreements with raw material suppliers to ensure timely supply to cater to the demands of customers.

Order your copy of the Free Sample of “Insulation Industry Data Book - Board Insulation, Blanket Insulation, Pipe Insulation, and Others (Foam) Insulation Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Pipe Insulation Market Insights

The global pipe insulation market size was estimated at USD 17.71 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. Rising awareness pertaining to energy conservation among consumers is expected to drive the market over the forecast period.The market witnessed a severe downfall in investments in the industrial sector owing to the pandemic, thereby impacting overall growth. In addition, a dramatic fall in crude oil prices led to a drop in fiscal resources for oil-producing countries, which affected the product demand from the oil & gas sector. The market in Asia Pacific is expected to witness exponential growth over the forecast period on account of the rising number of industries in economies, such as China and India.

Rapid urbanization coupled with the rising demand for residential and commercial construction is anticipated to further fuel the market growth. Increasing adoption of district heating systems, driven by rising electricity tariffs, rising environmental awareness, and technological advances is expected to propel market growth in the U.S. In addition, rising investments in the expansion of gas liquefaction terminals are expected to drive the demand for pipe insulations over the forecast period.The presence of a large number of manufacturers and service providers, coupled with the easy availability of raw materials and easy installation processes, has resulted in intense market competition.

The price structure for pipe insulation varies with respect to production processes and raw materials used. The growing demand for pharmaceutical and cosmetic products is driving the expenditure on capacity additions by major pharmaceutical companies. Process pipes form an integral component in these production facilities and are expected to generate significant demand for pipe insulation over the forecast period. Corrosion under insulation has been one of the major challenges faced by the industry. It is a localized form of external corrosion that occurs on carbon, low alloy steel, and stainless-steel pipes operating at temperatures above 80° Celsius.

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Insulation Industry Data Book Competitive Landscape

Unlike other markets, the players in the global insulation market are more inclined towards increasing their market share through organic growth, rather than mergers and acquisitions. Companies in the market are focusing on expanding their product portfolio by developing cost-effective insulation products with enhanced properties.

Key players operating in the Insulation Industry are:

• Armacell
• Lydall, Inc
• Kingspan Group
• Owens Corning
• Huntsman International LLC
• Saint-Gobain Group

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