Advanced Insulation Market – Market Overview
Global Insulation Materials Industry is rapidly heading north with growing demand from the various industrial applications. The Global Advanced Insulation Material Market size is expected to cross USD 11 billion and grow at a CAGR of approximately 11% in the forecasted period. As per the analysis of MRFR, the market is mainly driven by growing need for efficient insulation systems and solutions. Also, the growth of this market is a result of both the strict government regulations towards energy conservations and continuously increasing cost of energy. Additionally, rising awareness on part of major industries regarding energy conservation and its positive repercussions for cost reduction on energy is likely augmented demand for various advanced coatings during the review period. Advanced Insulation Material has high penetration in almost all the major industries such as transportation and power generation, automotive, oil & gas construction, industrial, and paints & coatings industries, wherein the product is effectively used to provide vibrant and sound insulation.
However, use of Advanced Insulation Material is restricted by carcinogenic nature of ceramic fibers and high production cost of aerogels.
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Advanced Insulation Market- Competitive Landscape
The Global Advanced Insulation is a highly mature market, which is primarily driven by the rapid industrialization of the major emerging economies such as India, China, and Brazil, among others. In addition to this growing demand from the Industrial, oil & gas, and construction industries is likely to propel growth of the market during the forecast period. The market accommodates significant number of leading players, yet the market share is dominated by the five key manufacturers namely, Cabot Corporation, Advanced Insulation, Aspen Aerogels Inc., 3M Company, and Aerogel Technologies LLC are the substantial manufacturers in this market. Most of these companies are primarily adopting the business tactics such as capacity expansion, product launch, and launch of new facility to further strengthen their market position and earn sizeable revenue.
Industry/ Innovation/ Related News:
November 22, 2018- The U.K. based leading manufacturer of technical coatings and specialised passive fire protection and thermal insulation materials Advanced Insulation, has acquired the insulation jacket manufacturer Covertherm Limited. The range of bespoke thermal insulation jacket and cover solutions of Coverthem, which offers exceptional heat savings, are aligned to and complementing the ContraFlex® range of flexible fire protection jackets by Advanced Insulation. This is expected to augment the product portfolio of Advanced Insulation and also help them to meet vast industrial applications.
September 18, 2017- Installed Building Products, Inc., one of the largest insulation installers for new residential construction based in the U.S., has announced acquisition of All In Insulation, LLC d/b/a Astro Insulation. Astro Insulation has established a strong brand within this market and focuses on developers specializing on high-end custom homes and renovation projects. This is expected to help Installed Building Products, Inc. to attain considerable revenue during the years to follow.
March 13, 2017- Luxembourg based manufacturer and distributor of advanced flexible insulation foam for equipment-insulation acquired 100% of Denmark based technical insulation products manufacturer, Danmat Iso Systems A/S (Danmat). Danmat is a leading advanced insulation material provider in Scandinavian region. According to Armacell, this acquisition is in line with their expansion strategy, which is intended to strengthen their footprint in Northern Europe.
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