North America Industrial Insulation Market Insights Forecasts to 2032

• The North America Industrial Insulation Market Size was valued at USD 1.7 Billion in 2022.
• The Market is Growing at a CAGR of 5.5% from 2022 to 2032.
• The North America Industrial Insulation Market Size is expected to reach USD 2.9 Billion by 2032.
• North America is expected to grow the fastest during the forecast period.

The North America Industrial Insulation Market Size is expected to reach USD 2.9 Billion by 2032, at a CAGR of 5.5% during the forecast period 2022 to 2032.

Market Overview

Insulation improves the machine's efficiency by preventing heat transmission from the components to the system. It also protects pipelines against frost at below freezing temperatures, resulting in it being perfect for transportation equipment. It encompasses a wide range of insulation goods, including thermal insulation materials, acoustic insulation materials, and fire-resistant insulation materials. Furthermore, industrial insulation has been utilized to protect boilers, heating systems, flues, temperature storage tanks, and other equipment in the power sector. It is an essential component of power plant construction and operation. It aids in the maintenance of particular temperatures in steam-generating boilers for example. Mineral wool, calcium silicate, foam plastics, and aerogels are among a number of products available on the market, which serve industries such as oil and gas, power, chemical, and transportation. Energy efficiency requirements, sustainability issues, and regulatory environments all have a significant impact on the economy. The development of high-performance insulating materials has been pushed by an increasing need for environmentally friendly solutions, as well as severe regulatory guidelines for minimizing carbon footprint. Advances in technology are establishing avenues for less expensive and more efficient insulating solutions.

Report Coverage

This research report categorizes the market for North America Industrial Insulation Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America Industrial Insulation Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the North America Industrial Insulation Market.

Driving Factors

The key market factors include growing industrial activity, stringent energy efficiency rules, and a growing understanding of the importance of lowering CO2 emissions. Furthermore, they're at the forefront of improving both the effectiveness of the machinery and the operational performance throughout the system, which results in lower production and operating expenses. Additionally, it safeguards all industrial equipment from combustion, prevents humidity condensation on the machinery, and maintains the equipment at excessively low or high conditions, resulting in reduced accidental hazards. The industrial insulation market in North America is predicted to increase steadily, fueled by industrial growth, high energy efficiency standards, and developments in technology. There are numerous prospects for organizations that introduce new, economical, high-performance insulation products. The recovery of non-residential construction investments, notably in the corporate and commercial segments, is likely to benefit the industrial insulation market in the United States. Increasing consciousness regarding environmentally friendly building methodologies is expected to drive insulation application, with the goal of lowering energy consumption. However, volatile raw material prices and the costly nature of particular insulating materials provide considerable obstacles.

Market Segment

• In 2022, the pipe Industrial Insulation segment accounted for the largest revenue share of more than 41.3% over the forecast period.

Based on the product type, the North America Industrial Insulation Market is segmented into pipe, board, blanket, and others. Among these, the pipe insulation segment has the largest revenue share of 41.3% over the forecast period. Pipe insulation is an important component of industrial insulation, with the primary goal of providing an outer layer of protection over the contents of the pipe and the external environment with the intent to improve the functioning of different manufacturing procedures. Pipe insulation helps to improve the thermal performance of a process or factory, lowering operating costs. It regulates and maintains process temperatures, inhibits moisture growth, and reduces the deterioration of pipes in North America's high temperatures. It additionally provides acoustic insulation along the pipeline by reducing noise and vibration.

• In 2022, the calcium silicate segment is influencing the largest CAGR over the forecast period.

On the basis of materials, the North America Industrial Insulation Market is segmented into stone wool, glass wool, CMS fibers, calcium silicate, cellular glass, foamed plastic, and others. Among these segments, the calcium silicate segment dominates the largest market share over the forecast period. Because calcium silicate is highly resistant to infrared wavelengths, it is frequently employed to be an effective replacement for asbestos-containing materials in extreme temperatures insulation materials. Calcium silicate is commonly used in high-temperature piping and machinery for industrial purposes. Calcium silicate is ideal for use in the petrochemical, power generation, and various other processing industries where operating temperatures are extremely high.

• In 2022, the LNG/LPG transportation & storage segment dominated with more than 37.2% market share

Based on the end-use industry, the North America Industrial Insulation Market is segmented into power generation, petrochemical & refineries, EIP industries, LNG/LPG transportation & storage, and others. LNG/LPG transportation & storage has captured the highest market share in the North America Industrial Insulation market. Natural and petroleum energy consumption in North America has resulted in the development of wide transportation, storage, and distribution infrastructure. Because of the significant hazards associated with transportation and storage, industry players use a wide range of insulation products. The market for LNG and LPG is projected to rise steadily across the majority of consuming economies, driving the production of industrial insulation in North America over the duration of the forecast.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America Industrial Insulation Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Aspen Aerogels, Inc.
• Cabot Corporation
• Morgan Advanced Materials plc
• Unifrax
• L'ISOLANTE K-FLEX S.p.A.
• Kaimann
• Polyguard Products, Inc.
• RATH Group
• Armacell International Holding GmbH
• Pittsburgh Corning Europe N.V.
• Duna-Corradini S.p.A.
• ROCKWOOL Insulation A/S
• Knauf Insulation
• NICHIAS Corporation
• Anco Products, Inc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• On August 2022, Owens Corning made public its acquisition of Natural Polymers, LLC, a Cortland, Illinois-based manufacturer of spray polyurethane foam insulation for building and construction applications.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the North America Industrial Insulation Market based on the below-mentioned segments:

North America Industrial Insulation Market, By Product Type

• Pipe
• Board
• Blanket
• Others  

North America Industrial Insulation Market, By Materials

• Stone Wool
• Glass Wool
• CMS Fibers
• Calcium Silicate
• Cellular Glass
• Foamed Plastic
• Others   

North America Industrial Insulation Market, By End-Use Industry

• Power Generation
• Petrochemical & Refineries
• EIP Industries
• LNG/LPG Transportation & Storage
• Others  

North America Industrial Insulation Market, By Country

• United States
• Canada
• Mexico