Asia-Pacific Thermal Insulation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material Type (Fiber Glass, Plastic Foam, Stone Wool, Calcium Silicate, Cellular Glass, and Others) and Industry Vertical (Building and Construction, Oil and Gas, Chemical, Aerospace and Defense, Automotive, Pharmaceutical, and Others)
The APAC thermal insulation market is expected to grow from US$ 21,600.60 million in 2022 to US$ 29,692.60 million by 2028. It is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
Increasing Demand for High-Temperature Thermal Insulation
Growing awareness about the benefits of high-temperature insulation, including resistance to elevated temperatures and thermal shocks, low thermal conductivity, environmental benefits, and cost efficiency, is likely to propel the thermal insulation market growth over the forecast period. In addition, thermal insulation can protect equipment and help achieve extraordinarily high or low temperatures with reduced accident risks. According to insulation.org, the high-temperature application range is between 600°F and 1500°F and is commonly used in turbines, breechings, stacks, exhausts, incinerators, boilers, etc. Furthermore, 2300°F is the maximum temperature for which insulation is applied, and over 2300°F applications such as melting furnaces refractory are used. High-temperature thermal insulation is used for industrial furnaces, ovens, and pipes. These are also used in a wide range of industries and applications in thermal-processing plants. Furthermore, pipes and equipment can be insulated according to the need of the application. Thus, the demand for high-temperature thermal insulation is increasing in the region.
Market Overview
The APAC thermal insulation market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. These countries are witnessing growth in various end-use industries which will boost the growth of the thermal insulation market in the region. Growing urbanization in the emerging economies of APAC has led to an increased requirement for better commercial and public infrastructure. Rural-to-urban migration in developing countries in the region is increasing the construction activity in urban areas. As urban buildings are usually more insulation intensive than those in rural areas, this will, in turn, stimulate demand for thermal insulation in residential buildings. This growing trend of rural-to-urban migration, coupled with favorable regulations regarding the energy efficiency of buildings, is driving the demand for thermal insulation in the building & construction industry. For instance, in India, The Energy Conservation Building Code (ECBC) was developed for new commercial buildings on May 27, 2007. The purpose of the ECBC is to provide minimum requirements for energy-efficient design and construction of buildings and their systems. Also, the Australian government is working with the state and territory governments to implement measures designed to enhance the energy efficiency of new or existing homes, improve home energy ratings and disclosure, and assist householders in making informed choices about their energy use and appliance purchases. Thus, the urbanization trend and increased awareness regarding energy efficiency are driving the growth of the thermal insulation market in APAC.
APAC Thermal Insulation Market Revenue and Forecast to 2028 (US$ Million)
APAC Thermal Insulation Market Segmentation
The APAC thermal insulation market is segmented based on material type, industry vertical, and country.
- Based on material type, the APAC thermal insulation market is segmented into fiber glass, plastic foam, stone wool, calcium silicate, cellular glass, and others. The fiber glass segment held the largest share of the market in 2022.
- Based on industry vertical, the APAC thermal insulation market is segmented into building and construction, oil and gas, chemical, aerospace and defense, automotive, pharmaceutical, and others. The building and construction segment held the largest share of the market in 2022.
- Based on country, the APAC thermal insulation market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. China dominated the market in 2022.
Asahi Kasei Corporation, BASF SE, Bayer AG, Dow Chemicals Company, DuPont, Johns Manville, Kingspan Group PLC, Owens Corning, ROCKWOOL A/S, and Saint Gobain S.A. are the leading companies operating in the APAC thermal insulation market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. APAC Thermal Insulation Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
5. APAC Thermal Insulation Market — Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in demand for lightweight thermal insulation
5.1.2 Growth in the building and construction industry
5.2 Market Restraints
5.2.1 High cost of installing thermal insulation
5.3 Market Opportunities
5.3.1 Expansion of aerospace industry in emerging economies
5.4 Future Trends
5.4.1 Increasing demand for high-temperature thermal insulation
5.5 Impact Analysis of Drivers and Restraint
6. Thermal Insulation Market – APAC Analysis
6.1 APAC Thermal Insulation Market –Revenue and Forecast to 2028
7. APAC Thermal Insulation Market Analysis – By Material Type
7.1 Overview
7.2 APAC Thermal Insulation Market, By Material Type (2021 and 2028)
7.3 Fiber Glass
7.3.1 Overview
7.3.2 Fiber Glass: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 Plastic Foam
7.4.1 Overview
7.4.2 Plastic Foam: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 Stone Wool:
7.5.1 Overview
7.5.2 Stone Wool: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Calcium Silicate:
7.6.1 Overview
7.6.2 Calcium Silicate: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
7.7 Cellular Glass:
7.7.1 Overview
7.7.2 Cellular Glass: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Others:
7.8.1 Overview
7.8.2 Others: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8. APAC Thermal Insulation Market Analysis – By Industry Vertical
8.1 Overview
8.2 APAC Thermal Insulation Market, By Industry Vertical (2021 and 2028)
8.3 Building and Construction
8.3.1 Overview
8.3.2 Building and Construction: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Oil and Gas
8.4.1 Overview
8.4.2 Oil and Gas: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Chemical
8.5.1 Overview
8.5.2 Chemical: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Aerospace and Defense
8.6.1 Overview
8.6.2 Aerospace and Defense: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.7 Automotive
8.7.1 Overview
8.7.2 Automotive: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.8 Pharmaceutical
8.8.1 Overview
8.8.2 Pharmaceutical: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Mn)
9. APAC Thermal Insulation Market – Country Analysis
9.1 Overview
9.1.1 APAC: Thermal Insulation Market, by Key Country
9.1.1.1 Australia: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Thermal Insulation Market, by Material Type
9.1.1.1.2 Australia: Thermal Insulation Market, by Industry Vertical
9.1.1.2 China: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Thermal Insulation Market, by Material Type
9.1.1.2.2 China: Thermal Insulation Market, by Industry Vertical
9.1.1.3 India: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Thermal Insulation Market, by Material Type
9.1.1.3.2 India: Thermal Insulation Market, by Industry Vertical
9.1.1.4 Japan: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Thermal Insulation Market, by Material Type
9.1.1.4.2 Japan: Thermal Insulation Market, by Industry Vertical
9.1.1.5 South Korea: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Thermal Insulation Market, by Material Type
9.1.1.5.2 South Korea: Thermal Insulation Market, by Industry Vertical
9.1.1.6 Rest of APAC: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Thermal Insulation Market, by Material Type
9.1.1.6.2 Rest of APAC: Thermal Insulation Market, by Industry Vertical
10. Industry Landscape
10.1 Overview
10.2 Merger and Acquisitions
10.3 Product News
10.4 Expansion
11. Company Profile
11.1 BASF SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Bayer AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 ROCKWOOL A/S
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Johns Manville
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Saint Gobain S.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Kingspan Group PLC
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Dow Chemicals Company
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Owens Corning
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Asahi Kasei Corporation
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 DuPont
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Thermal Insulation Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. Australia Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 4. Australia Thermal Insulation Market, by Industry Vertical – Revenue and Forecast to 2028 (USD Million)
Table 5. China Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 6. China Thermal Insulation Market, by Industry Vertical – Revenue and Forecast to 2028 (USD Million)
Table 7. India Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 8. India Thermal Insulation Market, by Industry Vertical – Revenue and Forecast to 2028 (USD Million)
Table 9. Japan Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 10. Japan Thermal Insulation Market, by Industry Vertical – Revenue and Forecast to 2028 (USD Million)
Table 11. South Korea Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 12. South Korea Thermal Insulation Market, by Industry Vertical – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of APAC Thermal Insulation Market, by Material Type – Revenue and Forecast to 2028 (USD Million)
Table 14. Rest of APAC Thermal Insulation Market, by Industry Vertical Type – Revenue and Forecast to 2028 (USD Million)
Table 15. Glossary of Terms
LIST OF FIGURES
Figure 1. APAC Thermal Insulation Market Segmentation
Figure 2. APAC Thermal Insulation Market Segmentation – By Country
Figure 3. APAC Thermal Insulation Market Overview
Figure 4. APAC Thermal Insulation Market, By Material Type
Figure 5. APAC Thermal Insulation Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Expert Opinion
Figure 8. APAC Thermal Insulation Market Impact Analysis of Drivers and Restraints
Figure 9. APAC: Thermal Insulation Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Thermal Insulation Market Revenue Share, By Material Type (2021 and 2028)
Figure 11. APAC Fiber Glass: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 12. APAC Plastic Foam: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. APAC Stone Wool: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. APAC Calcium Silicate: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. APAC Cellular Glass: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. APAC Others: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. APAC Thermal Insulation Market Revenue Share, By Industry Vertical (2021 and 2028)
Figure 18. APAC Building and Construction: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. APAC Oil and Gas: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. APAC Chemical: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. APAC Aerospace and Defense: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. APAC Automotive: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. APAC Pharmaceutical: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 24. APAC Others: Thermal Insulation Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 25. APAC: Thermal Insulation Market, by Key Country – Revenue (2021) (US$ ‘Million)
Figure 26. APAC: Thermal Insulation Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. Australia: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. China: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. India: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. Japan: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. South Korea: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of APAC: Thermal Insulation Market –Revenue and Forecast to 2028 (US$ Million)
- Asahi Kasei Corporation
- BASF SE
- Bayer AG
- Dow Chemicals Company
- DuPont
- Johns Manville
- Kingspan Group PLC
- Owens Corning
- ROCKWOOL A/S
- Saint Gobain S.A.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC thermal insulation market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC thermal insulation market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the thermal insulation market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution