OEM Insulation Market is Growing at a CAGR of 5.59% from 2022-2030

OTTAWA, Feb. 02, 2023 (GLOBE NEWSWIRE) — The

OEM insulation market

The size is expected to reach around US$53.2 billion by 2030, compared to US$14.5 billion in 2022. As the transportation industry and consumer industry have good demand for OEM insulation, the market is expected to grow in the forecast period will grow well. The governments of various nations are striving to create an awareness of using OEM insulation as it helps in saving energy and this is anticipated to be the crucial reason that will contribute to the growth of the market in the coming years.

The central theses:

• In terms of end use, the building and construction segment achieved a revenue share of over 37% in 2022.

• By material type, the mineral wool segment generated a 39% revenue share in 2022.

• Asia Pacific is poised to grow at a registered CAGR of 6.4% from 2022 to 2030.

• The Asia-Pacific region dominated the market with a 39% revenue share in 2022

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Regional snapshots

The region is expected to have the largest market share in the coming years due to the increasing use of OEM insulation in various industries in Asia-Pacific. This segment has historically dominated the market and will continue to grow well and have a maximum share of sales in the coming years. Rapid industrialization is one of the main factors that have contributed to the growth of the market in recent years as private and public investments have increased in various industries like food and beverage.

p

petrochemicals

, Oil & Gas and Power OEM insulation market is expected to grow in the coming years. Government organizations are also taking steps to increase the use of OEM insulation for various industries.

As the various regions of the North American market are aware of the benefits associated with using OEM insulation, there will be increasing acceptance, particularly in the United States. The development of the industrial corridors and the industrial clusters due to the tax savings and the subsidies provided by the government, the market is expected to grow well in the North American region during the forecast period. As oil production has increased in the Asia-Pacific region, particularly in China, energy consumption has also increased. But the demand for the OEM insulation is also expected to increase to save energy.

report highlights

The foam sector is expected to have the largest market share in the coming years. This segment has historically dominated the market with the highest share of sales. Since foamed plastic can be used in a variety of industries due to its mechanical properties, the market for this segment is expected to grow in the coming years. The demand for expanded polystyrene polyurethane foam and extruded polystyrene will grow in the coming years.

The use of OEM insulation is expected to be at its maximum in the automotive industry. Various types of materials are used in the insulation for the interior of the cars, which help to reduce the weight of the vehicles, thereby increasing the efficiency and also ensuring the safety of the passengers.

Recent Developments

• To provide better technologies for modern buildings, Owen Cornings would introduce new technologies that are energy efficient, sustainable and reliable.

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scope of the report

report attributes	details
Sales forecast up to 2030	$53.2 billion
CAGR	5.59% from 2022 to 2030
Revenue Share in Asia Pacific	39% in 2022
Share of building and construction segment	37% in 2022
key figures	ACH Foam Technologies LLC, Big Sky Insulations, Demilec Inc., EI du Pont de Nemours and Company, Anco Products Inc., Knauf Insulation, Armacell International SA, Aspen Aerogels Inc., Autex Industries Ltd., Johns Manville Corporation, Owens Corning Corp ., Paroc, Rockwool International A/S, Saint-Gobain SA, Scott Industries LLC, Morgan Advanced Materials, Superglass Insulation Ltd., The 3M Company, Triumph Group In

market

D

dynamics

driver

As different regions around the world are working to create an awareness of the use of OEM insulation, especially in the construction and building sector, the market is expected to grow well in the coming years. The use of insulation materials in construction and construction industry is projected to continue to dominate in the coming years and to hold the largest market share in terms of revenue during the forecast period. Soundproofing in modern infrastructure has increased to provide partition walls and many other technological advances will play an important role in the heating, ventilation and air conditioning needs of urban regions.

Demand for various types of energy-efficient goods and energy-efficient appliances has been increasing in recent years, which is why the OEM market is expected to grow well in the coming years. There is a growing demand for air conditioning in the transportation sector, due to which the insulation market in the transportation sector is also expected to grow. Insulation also plays an important role in fire safety and insulation against high temperatures, which is why it is used in the manufacture of various types of vehicles as it helps to extend the life of all these vehicles.

limitations

The manufacturing process of the insulation materials emits large amounts of greenhouse gases that pollute the environment, and strict regulations issued by various governments around the world will hamper the market growth in the coming year. Greenhouse gases of an extremely harmful nature are released through the polyurethane foam. And these are expected to have negative impacts on the environment. Standardization and surveillance in the manufacturing industry will restrain the market growth. In various developed regions, monitoring and regular inspections are extremely important, and the use of prohibited products can lead to serious consequences.

challenges

One of the biggest challenges for the industry is the fluctuating price of raw materials. Plastic foams used in insulation use raw materials whose prices fluctuate, hindering profit margin. Polystyrene and polyurethane foams are products made from crude oil. And the changes in the price of crude oil are hampering the production process. The availability of the raw material is also not constant and all these factors are expected to pose great challenges for the growth of the market over the forecast period. The logistics function in different regions also affects the prices of raw materials provided in the production units.

occasions

Technical installations such as FEF help to save energy. When using this type of insulation, energy consumption is significantly lower. The increased use of insulating materials in different types of buildings to store heat will lead to an increased use of technical insulation. Its use for ventilation, cooling and heating purposes will drive the market growth in the coming years and is expected to offer great opportunities for the growth of the market during the forecast period.

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By material

• glass wool

• Foamed plastics

• mineral wool

• Other

  • Extruded Polystyrene Insulation (XPS)

  • Expanded polystyrene (EPS) insulation

  • airgel

  • Other

By insulation type

• Cover

• reels & batts

• Loose Filling & Miscellaneous

By end users

• automobile

• marine

• Aerospace

• Build and build

• consumer devices

• HVAC equipment

• Other

According to geography

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa (MEA)

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