Industrial Insulation Market Trends, Business Opportunities, Challenges, Size, Share, Growth Insights to 2026
The global industrial insulation market size is expected to gain momentum during the forecast period. This is attributable to the increasing demand for fire safety regulations to ensure the safety of the workers across the globe. Fortune Business Insights, in its upcoming report, titled “Industrial Insulation Market Size, Share & Industry Analysis, By Type (Fiberglass, Rockwool, Calcium silicate, Plastic foams, Others), By Form (Pipe Insulation, Board & Blanket, Others), By End-Use Industry (Power Genaration, Refinery, Chemicals & Petrochemicals, Fire Protection, Others) Others and Regional Forecast, 2019-2026.”, predicts a considerable growth for the market in the forthcoming years.
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities.
Industrial insulation is a vital part to ensure the stable working of systems and the safety of the workers in a company. The insulation materials efficiently control the surface temperature that aids in the reduction of the burn injuries among the workers. They further aid in controlling the vibrations and noise to ensure a peaceful working environment. They are widely adopted in several industries such as power generation, chemicals & petrochemicals, and others to prevent wastage of energy and improve the overall economical factor.
List of the Companies Operating in the Market:
- Johns Manville
- American Rockwool Manufacturing, LLC
- Saint Gobain
- Hollingsworth & Vose Company
- Knauf Insulation
- Rock Wool Manufacturing Company
- Owens Corning
- USG Corporation
- Kingspan Group
- Cabot Corporation
- Among others
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/industrial-insulation-market-102350
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Increasing Demand for Stringent Fire Safety Regulation to Bolster Growth
According to the International Labor Organization, around 60,000 workplace accidents take place globally every year owing to fire hazards that are deemed fatal. Injuries due to fire hazards, exposure to chemicals, and other factors lead to a huge economic and personnel loss among several industries. Therefore, it is vital for companies across several industries to ensure that the work environment complies with safety regulations to ensure employee and economic safety. The growing demand for a stringent fire safety regulation to ensure optimum safety and health standards is expected to contribute to the growth of the global industrial insulation market during the forecast period.
Presence of Large End-Use Industries in Asia-Pacific to Promote Growth
Among all regions, the market in Asia-Pacific is expected to witness substantial growth and hold the highest global industrial insulation market share during the forecast period. This is attributable to the large presence of end-use industries in countries such as China, and India. The implementation of stringent environmental regulations to promote energy-efficiency amongst industries in China will favor market growth in the region. Europe is expected to gain momentum in the market in the forthcoming years. This is ascribable to factors such as increasing focus on reducing carbon emission and promoting clean energy sources between 2019 and 2026.