The market is expected to generate an incremental $ opportunity of US$ 19,704.6 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00254 Format: PDF Pages: 320
OEM Insulation Materials Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global OEM Insulation Materials Market was worth US$ 28,473.9 Mn and is expected to grow at a CAGR of 5.4% over the forecast period. The market is expected to hit US$ 48,178.5 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 4.6%, the market underwent significant growth.
The OEM insulation market is driven by rising power and energy needs in developing economies, as well as strict regulations requiring the use of insulation materials for energy conservation. The widespread adoption of air conditioning in public vehicles is another factor boosting the OEM insulation industry.
THE GROWTH IN INFRASTRUCTURE INDUSTRY FUELS THE MARKET
Over the recent past, OEM insulation has been gaining awareness in the building & construction sector across the globe. The trend of constructing energy-efficient buildings has increased the demand for OEM insulation between 2022 and 2032. Building & Construction is expected to dominate the end-user market with a market share of more than 35.0% throughout the forecast period. The increasing need for energy-efficient goods and equipment, acoustic insulation in partitions, and technical advancement of HVAC equipment in the construction sector drive the demand for OEM insulation.
ENVIRONMENTAL REGULATIONS HAMPER THE MARKET RISE
Polyurethane foams are the most commonly used materials in the construction industry. The use of these foams for insulation purposes releases harmful greenhouse gases and, therefore, slowly deteriorates our environment. We have all heard about this problem, and now it’s a fact that industries must take greater responsibility and reduce their greenhouse gas emissions through a more eco-friendly approach.
REPLACING CONVENTIONAL INSULATION WITH NEW FRF INSULATION
FEF (Fluid Extruded Foam) insulation is technical insulation that saves energy during its service life compared to the total capacity needed to produce it. It provides a sustainable solution for reducing heat-related costs and water loss due to condensation, gas migration, and permeation problems. Building energy efficiency is achieved by reducing energy consumption, operating costs, and associated operating expenses for the building owner.
The most expensive component of the cost of a building is typically heating, cooling, and ventilation systems. Closed-cell elastomeric insulation provides a long-term solution for lowering these systems’ energy consumption while helping to save both natural resources and money.
Market Segments Covered in Report
By Material Type
By End Use Industries
By Insulation Type
By Region and Country:
Why are Mineral Wool OEM Insulation Materials projected to dominate the market in the coming years?
The Mineral Wool segment has dominated the market in revenue, and the industry is expected to grow well during the forecast period. The demand for Mineral Wool is increasing due to its applicability in diverse fields such as consumer, commercial, and marine applications. Compared to other materials used in the market, Mineral Wool possesses mechanical properties or exceptional qualities not provided by other materials. Hence, the growth of this market segment is predicted based on this factor.
Why is the Automotive Industry segment expected to expand the fastest during the forecast period?
The Rapid growth in the global automotive industry during the forecast period is expected to fuel the growth of the OEM insulation market owing to the growing investments by vehicle manufacturers in improving the safety features and comfort level in vehicles. Besides, the demand for OEM insulation is rapidly increasing in medical and electronic equipment manufacturing industries, which is expected to propel the consumption of OEM insulation.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Manufacturers are focusing on developing regions to meet the expanding demand from the application categories. Significant businesses also boost their manufacturing capabilities, new product introductions, R & D, and mergers and acquisitions.
Some of the key developments that have taken place in the OEM Insulation Materials Market include:
A list of some of the key suppliers present in the market are:
Global OEM Insulation Materials Market 2022-2032: Report Coverage and Highlights
|Historical data available for
|USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
|Key regions covered
|North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
|Key countries covered
|US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
|Key segments covered
|By Material Type, End Use Industries, Insulation Type, and Region
|Available upon Request
|Pricing and purchase options
|Available upon Request