
Published On: Dec 2022
Published On: Dec 2022
At 5.0% CAGR, the APAC Industrial Insulation Market is projected to be worth US$ 5,557.44 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC industrial insulation market was valued at US$ 4,139.45 million in 2022 and is expected to reach US$ 5,557.44 million by 2028, registering a CAGR of 5.0% from 2022 to 2028. Increased infrastructural spending in emerging economies and development of new products with latest technology are the critical factors attributed to the market expansion.
With increase construction activities across the region, the demand for industrial insulation is increasing, industrial insulation in infrastructures help in protection from heat, fire, and corrosion. Industrial Insulation products when used in buildings deliver superior performance, which includes air sealing, moisture control, and thermal insulation. In commercial buildings saving on energy and operating costs is crucial, and foam insulation is widely used in infrastructures it is efficient and economical. Industrial facilities and commercial buildings have unique needs when compared to single family or multi-unit residences. These large buildings have energy and utility demands and all of them can affect economic viability of building, in this case industrial insulation helps in reducing operating costs. Infrastructure spending is growing significantly over the coming decade. Development of megacities is shifting economic and demographic trends which will create enormous need for new infrastructure. Increasing focus on inclusive and sustainable industrialization with innovative infrastructure is unleashing dynamic and competitive opportunities for industrial insulation. Further, infrastructural development in economies is expected to boost the industrial activities, and this has surged the consumption of industrial insulation. An increase in spending and industrial activities are thus expected to provide major opportunities for the growth of industrial insulation market across the region.
On the contrary, high capital cost and lack of skilled labor for installation hurdles the growth of APAC industrial insulation market.
Key players dominating the APAC industrial insulation market are Aspen Aerogels Inc., Cabot Corporation, Johns Manville, Kingspan Group, Knauf Insulation, Nichias Corporation, ROCKWOOL A/S, and Saint Gobain S.A., among others.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com