According to a newly published report by Research Nester on “North America Industrial Insulation Service Market: Global Demand Analysis & Opportunity Outlook 2019-2027” delivers detailed overview of the North America industrial insulation service market in terms of market segmentation by material (glass wool, foamed plastic, calcium silicate, aerogel, elastomeric foam, micro silica and others); by product (pipe, board, blanket and others); by application type (power generation, petrochemical & refineries, EIP industries, LNG/LPG and others).
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The North America industrial insulation market is segmented by material (glass wool, foamed plastic, calcium silicate, aerogel, elastomeric foam and micro silica); by product (pipe, board, blanket and others); by application type (power generation, petrochemical & refineries, EIP industries, LNG/LPG and others).
Insulation is a layer or coating of resistant material, which functions as a barrier to the targeted energy. Industries use many types of insulation for the purpose of energy conservation and improve the efficiency of machines, systems, equipment and components. Insulation offers exceptional performance-to-weight ratio and resistance to chemical attack, which is expected to boost its demand. Additionally, several types of industrial insulators are available in the global market, which can be in the form of flexible sheets and pre-formed shapes, flexible blankets, rigid boards, blocks, sheets and pre-formed shapes, foams, liquids (spray, paints), etc.
North America Industrial Insulation Service market is anticipated to attain a CAGR of 5% during the forecast period i.e. 2019-2027. North America is one of the prominent regional markets in the global arena owing to highly developed power generation sector. The U.S. is at the forefront in the North America region, which can be attributed to its advanced power generation and LNG & LPG transportation industries.
Booming oil & gas sector is likely to be a key factor for rising demand for industrial insulation in this region. Recent rise in energy costs and carbon emissions associated with industrial activities can shift the focus of companies towards energy efficiency, thereby driving product demand. The power generation sector in Canada is poised to undergo a major transformation from centralized model of production towards a decentralized system, leading to development of new power generation facilities especially in hydro power plants.
Thermal Insulation to Improve Energy Efficiency
Increasing product demand for boosting the process efficiency, condensation control, noise reduction, freeze protection, and for reducing environmental pollution is expected to drive the market growth over the forecast period. Manufacturers are striving to provide superior materials for improving the equipment operational lifetime and increasing the efficiency. In addition, the rising awareness regarding the benefits of insulation in the industrial application coupled with the reduction in overall operations costs is expected to drive the industry growth.
However, industry participants especially aerogel manufacturers, face difficulties to raise capital in order to develop new products, owing to the diminishing subsidies causing venture capitalists to lose interest in new projects.
This report also provides the existing competitive scenario of some of the key players of the North America industrial insulation service market which includes company profiling of Atlas Roofing Corporation, Bayer, Certain Teed, Cellofoam North America, Inc., Dow Building Solutions, GAF Materials Corporation and Owens Corning Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the North America industrial insulation service market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.