The global high-performance insulation materials market size was US$ 10.3 billion in 2021. The global high-performance insulation materials market is forecast to grow to US$ 14.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030.
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COVID-19 Impact Analysis
The majority of nations were put on total lockdown during the initial phase of the COVID-19 pandemic, and many factories operated with half of the staff. Some even temporarily shut down their doors. Various project schedules were altered or delayed. Important producers and suppliers of raw materials also extended the closure of all business operations. Moreover, the halt on travel activities further impacted the high-performance insulation materials market as industry players witnessed a shortage of raw materials.
Regional Analysis
The Asia-Pacific high-performance insulation materials market is forecast to record the highest growth, owing to the rapidly growing oil and gas and construction sectors in the region. Apart from that, the growing population of the region is further accelerating the demand for energy and petrochemicals. As a result, it will benefit the global high-performance insulation market. Apart from that, the increasing number of offshore drilling activities in India, Malaysia, Indonesia, China, South Korea, and Japan, etc., will contribute to the market growth.
Factors Influencing the Market:
In the forecast period, there will probably be an increase in demand for high-performance insulating materials due to growing concern over greenhouse emissions and increased energy-saving demands.
The end-user industry’s rapid expansion over the forecast period is the main factor influencing the market for high-performance insulating materials. End user industries like the oil & gas, construction, and automotive industries have a significant demand for high-performance insulation materials, which will drive the market growth during the forecast period.
Growing investments in the energy sector is expected to benefit this market during the study period. More oil and gas exploration are anticipated to result from the rising demand for energy, which will increase the need for high-performance insulation materials over the forecast period. Additionally, the market demand for high-performance insulation materials is influenced by growing global population.
However, the high cost of making aerogels may hamper the growth of the market during the study period.
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Competitors in the Market
• Owens Corning
• Knauf Gips KG
• Rockwool
• Johns Manville
• Unifrax
• Aspen Aerogels, Inc.
• Morgan Advanced Materials
• Isolite Insulating Products Co., Ltd.
• The 3M Company
• Unifrax LLC
• Nano High-Tech Co., Ltd
• Cabot Corporation
• Alison hi-tech company Ltd
• Ibiden Co. Ltd.
• Shandong Luyang Share Co., Ltd
• Aerogel Technologies LLC
• Other Prominent Players
Market Segmentation
The global high-performance insulation materials market segmentation focuses on Material, Product, End-Use Industries, and Region.
By Material Type Outlook
• Aerogel
• Vacuum Insulation Panel (VIP)
• Fiberglass
• Ceramic Fiber
• High-performance Foam
• Other Material Types
By Product Type Outlook
• Insulating Bricks
• Calcium Silicate Blocks
• Insulation Mattresses
By End-Use Industries Outlook
• Oil and Gas
• Industrial
• Building and Construction
• Transportation
• Power Generation
• Other End-user Industries
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By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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