Persistence Market Research (PMR) analyzes the global thermal insulation material market for the period 2016–2020. The core objective of the report is to offer an in-depth view of the key factors impacting the global thermal insulation material market, along with analyzing the future scope and opportunities in this market. The global thermal insulation material market report has been divided into the following four parts for better understanding and assessment of the global market scenario – market analysis by material type, temperature range, and region.
The report starts with an overview of thermal insulation material and its usage in various applications across the globe. In the same section, the report covers the global thermal insulation material market performance in terms of value. This section includes a detailed analysis of key trends, drivers, and restraints from the supply and demand perspectives.
The next section of the report analyzes the market based on material type and presents a comprehensive forecast in terms of value for the next four years. The material types covered in the global thermal insulation material market report include:
The next section of the report analyzes the market based on the temperature range within which the insulation material functions and presents an in-depth forecast in terms of value for the next eight years. Temperature range segments covered in the global thermal insulation material market report include:
The next section of the report analyzes the market based on different regions and presents the market forecast in terms of value for the next eight years. Regions covered in the global thermal insulation material market report include:
The forecast presented in this report assesses the total value and volume of the global thermal insulation material market. The starting point is sizing the current market, which lays the foundation for forecasting how the market is anticipated to shape up in the near future. Given the characteristics of the market, in-depth analysis based on supply side, demand side, and sterile medical consumption rate is taken into account. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, the report takes into consideration Year-on-Year growth to understand the predictability of the market and to identify the right opportunities across the global thermal insulation material market.
As previously highlighted, the market for thermal insulation material is split into various sub categories based on region, material type, and temperature range segments. All individual segments and sub segments have further been analyzed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth as this detailed level of information is important for identifying key trends governing the global thermal insulation material market.
Also, another key feature of this report is the analysis of the global thermal insulation material market by its revenue forecast in terms of absolute dollar opportunity, which is traditionally overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global thermal insulation material market.
Furthermore, Persistence Market Research has developed a market attractiveness index for all the segments–product type, material type, application and region – to help identify the real opportunities that lie in the global thermal insulation material market.
In the final section of the report, a competitive landscape of the global thermal insulation material market is included to provide a dashboard view based on different categories of market players along with their product portfolio and key differentiators. The key companies profiled in the report include:
Predominantly used in the construction industry, the thermal insulation process is widely used in a number of industrial verticals, including automotive, energy, oil and gas, and food processing. The global thermal insulation material market is projected to maintain stable growth over the next four years. During the four-year forecast period 2016-2020, the global market for thermal insulation is projected to expand at a CAGR of 4.1%, accounting for US$ 53,286.8 Mn by 2020 end.
The critical importance of thermal insulation for safeguarding the performance of various industrial systems, will remain the key factor driving the demand for high-temperature insulation materials globally. Energy-efficient thermal insulators are likely to gather higher traction in the next few years. Moreover, a host of verticals use thermal insulation as one the most vital processes in manufacturing. Increasing consumption of thermal insulation materials, including petrochemical, oil and gas, energy, and food and beverages, will continue to accelerate the market growth over the forecast period.
Rising production of automobiles and aircrafts will positively influence market growth. Rising demand from industrial refrigeration sector and hefty consumption by heavy duty vehicles sector for insulation coatings, are identified to generate an impressively high demand. Depleting energy resources, followed by critical need for energy conservation, is expected to primarily drive the demand for thermal insulation globally. Rising inclination toward reduced energy spend and increased awareness about environmental impact of conventional manufacturing processes, will fuel the demand for thermal insulation materials over the next few years.
Adoption of advanced insulation materials by a number of manufacturers is another key factor predicted to escalate the demand. In addition, technological advancements in high-temperature insulation wool, coupled with emergence of bio-based insulators are likely to present attractive growth opportunities during the forecast period. Strict governmental norms regarding energy-efficiency will benefit the market growth. Governments are streamlining processes for maximum industrial output, propelling the demand for thermal insulation materials that enable manufacturers to consume minimum energy and attain maximum product yield. Increased emphasis on green energy in order to curb pollution will hold a strong positive impact on sales of thermal insulation materials. Industrial and commercial construction vertical will favor market. Introduction of a few promising technologies, such as nano-insulation and vacuum insulation is expected to create a host of opportunities in near future.
A few macroeconomic factors influencing the growth of market are growing urbanization rate, and exploding output from construction and manufacturing sectors. While developed regions already have efficient building norms, thermal insulation technology has considerable penetration in those markets. Several emerging regional governments are increasingly promoting thermal insulation to comply with energy conservation standards. These are the major underlying drivers fueling the market for thermal insulation material over 2016-2020.
Higher capital costs and relatively lower awareness about the usage of thermal insulation material may however hamper the sales the long run.
The global thermal insulation material market is segmented on the basis of material type and temperature range. By material type, stone wool, fiberglass, plastic foam, and others constitute the key sub-segments. Based on the temperature range, 1°C to 100°C temperature range segment is estimated to register highest growth at a CAGR of 4.6% during 2016-2020. -490C to 00C temperature range will remain the second largest segment, accounting for over 25% market share by 2020 end. −160°C to −50°C temperature range segment is likely to witness significant growth owing to increased demand for cryogenic gas preservation in the petrochemicals industry.
Geographically, the global market for thermal insulation material is classified as North America, Europe, Asia Pacific, and Middle East & Africa. APAC is foreseen to maintain the leading market position with nearly 45% value share in 2020, followed by Western Europe with over 22% market value share. APAC will register a healthy CAGR of 6.3%, whereas Europe is expected to expand at a sluggish CAGR. North America, led by the U.S., will be the next major market.
Key Players Analysis
Key players participating in the competitive landscape of the global thermal insulation material market are Saint Gobain S.A., Dow Chemicals Company, BASF SE, Asahi Kasei Corporation, E. I. du Pont de Nemours and Company, Kingspan Group, Bayer AG, Berkshire Hathaway, Owens Corning, and Rockwool International.