North America Industrial Insulation Market Worth $2.55 Billion By 2025

The North America industrial insulation market size is estimated to touch USD 2.55 billion by the end of 2025 and is anticipated to register a compound annual growth rate of 4.0% from 2018 to 2025, according to a new report published by Million Insights. The rising energy costs along with growing awareness about energy conservation are driving the market growth.

The market is highly competitive owing to the existence of top players in North America market. These companies have a wide product offering for petrochemical and other oil industries. Additionally, the industry represents high entry barriers for new entrants due to the well-established players.

The greater availability of raw material is limiting the fluctuation in prices. Moreover, rising usage of improved quality materials in insulation is expected to foster the North America industrial insulation market growth. Additionally, the high import of raw materials and supplies from China at low-cost is projected to bolster the growth of the North America market.

The raw materials utilized for producing insulation products include derivatives of natural stone, san and crude oil. However, stiff government regulations about environmental degradation along with increasing mining activities may hamper the market growth.

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Further key findings from the report suggest:

• Foamed plastics segment is anticipated to grow at a compound annual growth rate of 3.9% during the forecast period.

• Based on product, in 2017, pipes segment held the volume of over 612 Kilotons.

• Petrochemicals application segment is estimated to expand at the fastest CAGR of 4.1% over the forecasted period. The rising demand for product from oil & gas refineries is contributing to market growth.

• In 2017, the U.S. led the market with highest revenue share of more than 85.5%.

• Key players in the industry focus on investment in R&D development to develop superior quality insulation products.

Million Insights has segmented the North America industrial insulation market on the basis of material, product, application and region:

North America Industrial Insulation Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Stone Wool
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Glass Wool
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • CMS Fibers
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Calcium Silicate
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Cellular Glass
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Foamed Plastic
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Perlite
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Aerogel
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Cellulose
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Micro Silica
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others
    • Others
        • Power Generation
        • Petrochemical & Refineries
        • EIP Industries
        • LNG/LPG
        • Others

North America Industrial Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Pipe
    • Board
    • Blanket
    • Others

North America Industrial Insulation Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • Power Generation
    • Petrochemical & Refineries
    • EIP Industries
    • LNG/LPG
    • Other Applications

North America Industrial Insulation Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada