The global OEM insulation market size is expected to grow at a CAGR of 6.8% from 2024 to 2029 and be worth USD 22.85 billion by 2029 from USD 16.45 billion in 2024.
OEM stands for Original Equipment Manufacturer, which indicates a company that produces a part of a subsystem of a product used by another organization. Thermal insulation, or simply insulation, allows the product to minimize heat gain or loss by creating a barrier between surfaces at different temperatures.
The global OEM insulation market is expected to experience lucrative growth in developing countries. Increased public and private investment in various industrial sectors to deliver high-quality industrial results has impacted OEM insulation. The main driving force behind this market is the updating of manufacturing techniques. The growing concern for the environment to save energy and the growing demand for industrial insulation will help the OEM insulation market expand its applications. Another major trend that has been observed in the global OEM insulation market is the growing popularity of foam plastic insulation. Hence, the increasing use of plastic foam insulation in the construction and construction business is expected to contribute to the global OEM insulation market's overall development.
The global insulation market OEM insulation will grow substantially during the forecast period due to its increasing number of applications in various industries. One of the main drivers of market growth is increasing demand from its end-use sectors. Telecommunications, semiconductors, manufacturing, energy and utilities, and offshore oil and gas are among the most important end-application industries. These industries constantly require large amounts of insulation for activities related to fire, heat or acoustics. Hence, its growth is directly complemented by the growth of the global OEM insulation market. The growing demand for insulation services in a wide range of applications, such as residential and commercial construction, automobiles, and consumer appliances, is the key driver for the growth of the global OEM insulation materials market. Moreover, people's growing awareness of the health and prevalence of makeshift infrastructure will drive the growth of the global OEM insulation market during this forecast timeframe. The market is experiencing moderate growth due to increasing applications, technological advancements, and growing demand for OEM insulation in the Asia Pacific, Middle East, and Africa.
Lower growth in the construction industry is another major factor hampering the growth potential of the OEM insulation market during the forecast period mentioned above. The fluctuation in the price of raw materials can also be a factor that restricts the growth of the market.
The availability of aerosol as a substitute for glass wool will create plenty of opportunities that will lead to the growth of the OEM insulation market during the forecast period.
The adoption of recycling and disposable techniques will become the biggest challenge to market growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
6.8% |
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Segments Covered |
By Type, End-use and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Johns Manville., Knauf Insulation., Saint-Gobain, ROCKWOOL International A/S, Owens Corning., 3M, Aspen Aerogels, Inc., Armacell India Pvt Ltd., Autex Industries Limited, Anco Products., Big Sky Insulations., Triumph Group., Morgan Advanced Materials, Atlas Roofing Corporation, Demilec (USA) Inc., Scott Industries, LLC, Artik OEM. |
The foamed plastics segment is leading with the highest shares of the market. Foamed plastics are one of the primary insulation materials used for OEM insulation and are experiencing rapid growth in the Asia Pacific. The superior mechanical properties of foamed plastics make them suitable for use in a variety of applications. The growing use of plastic foam insulation in the construction and construction business is expected to contribute to the overall development of the global OEM insulation market.
On the other hand, the glass wool segment was the second-largest commodity sector expected to grow at a CAGR of 6.1% during the forecast period. Glass wool is made of sand and has thermal and sound insulation properties such as low weight and high tensile strength. Removable covers are a by-product of glass wool and are an excellent cover for turbines, pumps, and heat exchangers, generating high demand.
The industrial segment held the largest share of the global market in 2023 and the transportation segment is expected to register the highest CAGR during the forecast period. One of the main drivers of market growth is its increasing demand from its end-use sectors. Telecommunications, semiconductors, manufacturing, energy and utilities, and offshore oil and gas are among the most important end-application industries. These industries constantly require large amounts of insulation for activities related to fire, heat or acoustics. Hence, its growth is directly complemented by the growth of the global OEM insulation market. The industrial segment will continue to represent the greatest demand for OEM insulation. As lawmakers seek to improve energy efficiency laws, such as the Energy Performance of Buildings Regulation of December 2008 and EU directives, there is a significant trend to use more OEM insulation. As a result, OEM insulations are becoming more and more important.
Asia-Pacific is expected to grow at a CAGR of 7.6% during the forecast period and the domination of the APAC region in the global market is majorly driven by the increase in oil production in the economies of China and India and concerns about significant energy waste as well as the demand for materials for restoration and renovation.
Europe is also likely to grow at a substantial CAGR during the forecast period. In addition, the region was one of the first to adopt emerging materials due to rapid industrialization and the presence of large manufacturers of insulation products, which led to significant product sales.
North America is heavily influenced by demand for oil and gas, manufacturing, metals and mining, energy, and other industries, where the operating temperature is high. In addition, companies in this region focus on reducing losses to improve their performance through the practice of periodic maintenance inspections.
Central and South America's GDP posted a low CAGR due to political and economic turmoil in Brazil, which is a major user of industrial insulation products. The demand for insulation materials in the Middle East and Africa is anticipated to be driven by growth.
Companies playing a key role in the global OEM insulation market include Johns Manville, Knauf Insulation, Saint-Gobain, ROCKWOOL International A/S, Owens Corning, 3M, Aspen Aerogels, Inc., Armacell India Pvt Ltd., Autex Industries Limited, Anco Products., Big Sky Insulations, Triumph Group, Morgan Advanced Materials, Atlas Roofing Corporation, Demilec (USA) Inc., Scott Industries LLC and Artik OEM.
By Type
By End-use
By Region
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