High Performance Insulation Materials Market Size & Share, Material Type (Aerogel, Vacuum Insulation Panel, Fiberglass, Ceramic Fiber, High performance Foam); Application (Oil & Gas, Transportation, Building & Construction, Industrial Machinery, Automotive, Packaging, Power Generators); Product Type (Insulating Bricks, Calcium Silicate Blocks, Insulation Mattresses) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5850
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

High Performance Insulation Materials Market size is expected to reach USD  38 Billion by the end of 2036, growing at a CAGR of 11% during the forecast period, i.e., 2024-2036. In the year 2023, the high performance insulation materials was USD 13 Billion. The increasing consumption of energy across the world will propel the market as a primary reason behind the growth of the high performance insulation materials market. Global energy requirements are constantly rising annually because of population expansion and economic development. Global energy utilization was substantially raised by 69.22% because of a rising world population of 47.67% from 1990 to 2020. Energy utilization rose the most in Asian countries, while the energy consumption in European countries remained unaltered during the past 3 decades. However, total world energy consumption returned 5% after the COVID-19 epidemic because of the economic restoration between 2020 and 2021.

Another reason that will propel the high performance insulation materials market by the end of 2036 is the increasing concern of people about greenhouse gas emissions. Moreover, in the pathway outlined in IEA’s current Roadmap to Net Zero by 2050, approximately three-quarters of the international emissions limitations between 2020 and 2025 occur in the electricity sector. To accomplish this reduction, the pathway calls for coal-fired electricity production to fall by over 6% a year. People around the world are faced with the transforming climate through their disclosure of uncommon and huge weather patterns, wearing ecosystems, or enhanced prevalence of natural disasters. An increasing number of climate change-pushed incidents are shaping how people think about climate change and the associated hazards. Recurring international polls about climate change give an exceptional scope to comprehend how people’s perspectives change. Nonetheless, there are substantial regional differences in the understanding of the issues posed by global warming. Americans and Chinese, whose economies are answerable for the greatest yearly CO2 emissions, are among the least worried.


High Performance Insulation Materials Market
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High Performance Insulation Materials Sector: Growth Drivers and Challenges

Growth Drivers

  • The Rising Use of Ceramic Fibers in the Power Industry-The rise in the implementation of ceramic fibers in the power industry in the form of lightweight electrical units, electrical insulators, thermal insulators, and sound insulators is one of the significant factors pushing the requirement for ceramic fibers in the power industry. The rise in the proceedings of power production worldwide is delivering to the requirement for ceramic fibers in industries such as wind production, hydropower plants, nuclear power plants, solar power plants, and others because of the quality of ceramic fibers as a high-executing insulating component is pushing the requirement for ceramic fibers in the power industry. In line with the World Wind Energy Association (WWEA), the global wind potential touched 744 gigawatts in the year 2020, a rise of 93 gigawatts as related to the year 2019. This is further raising the requirement for ceramic fibers from wind production plants, which is further pushing the high performance insulation materials market.
  • Increasing the Use of High performance Insulation Materials in the Packaging Industry-The rise in the use of high performance insulation materials in the packaging industry is highly pushing the market. In line with the World Packaging Organization (WPO), an international company and administrative body of the packaging industry, the sales of the packaging industry exceeded USD 500 billion in the year 2019, which impacted the requirement for high performance insulation materials, as they are widely utilized in the packaging industry. High performance insulation materials are chosen in the packaging industry, because of their properties like high thermal shock impedance and less thermal potential. This is pushing the expansion and requirement for high performance insulation materials in the packaging industry worldwide.
  • Demand for Sustainable Energy Sources Internationally-Renewables are set to make up over one-third of total electricity production by previous 2025, overturning coal. By 2025, nuclear power production is also anticipated to touch an all-time high internationally as output from France climbs, multiple plants in Japan return online, and fresh reactors start commercial operations in a lot of markets, comprising China, India, Korea, and Europe. When the share of fossil fuels in international production falls underneath 60%, this will signify the first time it has gone lower this threshold in IEA records dating back over five decades.

Challenges

  • Rigorous Regulations Associating Unsafe Components -The production of ceramic fiber exceptions unstable organic compounds (VOC). Volatile organic compounds are mostly discharged into water bodies by the factories, which is highly perilous. Thus, governments have set different regulations and standards associated with the release of fluctuating organic compounds. This is one of the major challenges encountered by the high performance insulation materials market  To illustrate, the restriction set for the content of these volatile organic materials is 90 parts per million (ppm) total content and is dependent on the weight of the entire non-volatile content of the paint, in the majority of countries. This is restricting the expansion of the market. The norm on the registration, assessment, authorization, and limitation of chemicals (REACH) is the primary EU law to safeguard human health and the ecological from the dangers that can be posed by chemicals. This is completed by better and previous recognition of the inherent properties of chemical essences and by having measures, like phasing out or limiting substances of very high awareness.
  • High Establishment and Maintenance Cost
  • Disadvantages related to the Utilization of High performance Insulation Techniques

High Performance Insulation Materials Market: Key Insights

Base Year

2023

Forecast Year

2036

CAGR

∼11%

Base Year Market Size (2023)

~USD 13 Billion

Forecast Year Market Size (2036)

~USD 38 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)Latin America (Brazil, Argentina, Others)
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High Performance Insulation Materials Segmentation

Material Type (Aerogel, Vacuum Insulation Panel, Fiberglass, Ceramic Fiber, High performance Foam)

The ceramic fiber segment in the high performance insulation materials market is anticipated to hold 43% of the revenue share by 2036.because it is widely utilized in different end-use industries like the petrochemical industry and oil refinery industry because of its properties such as opposition to intense temperatures and low thermal conductivity. Thus, ceramic fibers are extensively utilized as an insulating component. In line with the US Energy Information Administration, the total generation of petroleum and other liquids contributed to 94,185 million barrels daily during the year 2021. This is majorly driving the requirement for ceramic fibers from the high performance insulation materials market, as ceramic fibers in packaging and insulation of petroleum barrels. Electricity prices were usually lower in 2023 than in 2022. However, price trends varied extensively among regions, influencing their economic rivalries. Wholesale electricity prices in Europe dropped by over 50% on average in 2023 after having touched record highs in 2022 following Russia’s infringement of Ukraine.

Application (Oil & Gas, Transportation, Building & Construction, Industrial Machinery, Automotive Industry, Packaging Industry, Power Generators)

The oil & gas segment in the high performance insulation materials market is anticipated to hold 35% of the revenue share by 2036. Ceramic fibers are extensively utilized in the oil and gas industry for insulation intentions so that the heat is kept in the oil tanks and gas reactors. Thus, the rise in oil and gas utilization across the globe is pushing the requirement for high performance insulation materials like ceramic fibers and silica aerogel. In line with the International Energy Association (IEA) oil market report, international oil utilization is projected to rise by 5.4 million barrels daily in the year 2021. This will further increase the demand for high performance insulation materials like ceramic fiber in the oil industry, as it is utilized in packaging and containers for petrol and oil. This will further push the high performance insulation materials market.

Our In-Depth Analysis of The Global Market Includes the Following Segments:

        Material Type

  • Aerogel
  • Vacuum Insulation Panel
  • Fiberglass
  • Ceramic Fiber
  • High performance Foam

        Application

  • Oil & Gas
  • Transportation
  • Building & Construction
  • Industrial Machinery
  • Automotive Industry
  • Packaging Industry
  • Power Generators

        Temperature Range

  • < 1000C
  • 1000C-1100C
  • 1100C-1500C
  • > 1500C

        Product Type

  • Insulating Bricks
  • Calcium Silicate Blocks
  • Insulation Mattresses

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High Performance Insulation Materials Industry - Regional Synopsis

APAC Market Forecast

The high performance insulation materials market in the APAC region will have the biggest growth during the forecast period with a revenue share of around 39%. The quick expansion in the population in countries such as India and China along with the rise in requirement for power and energy in the region is highly pushing the high performance insulation materials market such as ceramic fibers in the Asia Pacific region. The National Bureau of Statistics expressed the total number of people in China declined by 2.08 million, or 0.15%, to 1.409 billion in 2023. China's population fell for a second successive year in 2023, as a record low birth rate and a surge of COVID-19 deaths, when rigorous lockdowns ended, increased a downturn that will have deep permanent impacts on the economy's expansion possibility.

North American Market Statistics

The high performance insulation materials market in the North American region will also encounter huge growth during the forecast period and will hold the second position owing to chronic digestive disease in this region. The increasing expansion of the construction industry in this region will primarily propel the high performance insulation materials market in North America. U.S. results marked a prolongation of the increasing growth first watched in August 2022, when national expansionary readings first increased from less than 10% to as high as 20% at its most current peak.

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High Performance Insulation Materials Market Size
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Companies Dominating the High performance Insulation Materials Market

top-features-companies
    • BASF SE
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Cabot Corporation
    • 3M
    • Huntsman International LLC
    • Morgan Thermal Ceramics
    • Arkema Group
    • H.B Fuller
    • Sika Ag
    • Henkel AG & Co.
    • DowDuPont Inc

In-the-news

In The News

  • BASF SE signs an international preferred cooperation deal with INEOS Automotive for its global body and paint Program. The partners will commit to a permanent strategic cooperation that offers them to expand the industry standard in vehicle body repair and paint redecorate. The cooperation comprises the supply of renewable refinish solutions, ability, and the newest digital color-matching solutions and training.
  • BASF SE is limiting the environmental footprint towards CO2 neutrality is a substantial objective for many industries and value chains, comprising the coating and pre-treatment techniques of the automotive industry. Through its GLASS equipment, BASF’s Coatings division presents an assessment approach that offers clarity and supports clients in making enlightened decisions for renewable surface solutions.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5850
  • Published Date: Mar 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increased frequency of gastrointestinal disease will majorly drive the market growth of the high performance insulation materials market.

The market size of the high performance insulation materials market is expected to get a CAGR of approximately 11% over the forecast period, i.e., 2024-2036.

The major players in the market are BASF SE, Cabot Corporation, 3M, Huntsman International LLC, Morgan Thermal Ceramics, Arkema Group, H.B Fuller, Sika Ag, Henkel AG & Co., DowDuPont Inc., Armacell Japan Co., Ltd., Nippon Aqua Co., Ltd., Kaneka Corporation, Japan Insulation Co., Ltd.

The oil & gas segment is anticipated to reap the largest market size with almost 35% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
High Performance Insulation Materials Market Report Scope
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