New York (US), July 18, 2023 (GLOBE NEWSWIRE) -- OEM Insulation Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “OEM Insulation Market Information by Material Type, End-Use, and Region - Forecast till 2032", The OEM insulation market will be rising from USD 33.8 Billion in 2023 to USD 53.4 Billion by 2032, exhibiting growth at a rate of 5.90% between 2023 and 2032.
Market Synopsis
The purpose of OEM insulation is to oppose or stop the transfer of heat and noise. People and equipment are harmed by the varying temperatures in different places. Air temperature and noise pollution have increased as a result of increased industrialization and transportation. In numerous end-user sectors, OEM insulation is now necessary as a result of all these causes.
A major obstacle to the expansion of the global industry is the strict environmental regulation intended to limit carbon emissions. emissions of greenhouse gases and particulate particles occur during the manufacture of OEM insulation. For instance, hydrochlorofluorocarbons, a greenhouse gas, are released when polyurethane foam is manufactured. Industries are obligated by environmental standards to reduce greenhouse gas emissions.
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Market Competitive Landscape:
The major manufacturers of OEM insulation include
- Aspen Aerogels Inc.
- Paroc
- Johns Manville Corporation
- E.I. du Pont de Nemours and Company
- Armacell International S.A.
- Owens Corning Corp.
- Saint-Gobain S.A.
- Rockwool International A/S
- The 3M Company
- Knauf Insulation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 53.4 Billion |
| CAGR | 5.90% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Type, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | The growing demand for acoustic insulation and increased governmental and private investments in many industries to provide high-quality industrial outcomes |
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Market USP Covered:
Market Drivers:
There has been an increase in the number of applications for the sector, notably as a result of the expansion in industrialization and urbanization, and there has also been an introduction of new techniques that will offer better chances for the growth of the market in the years to come.
Industrialization has been a significant factor in the expansion of the market in the majority of emerging countries. The increasing need for ventilation, heating, and air conditioning will contribute to the demand for insulation services. The need for insulation has grown at all Organizations are concentrating on superior and novel strategies that will aid in the market's growth in the upcoming years as a result of the growing concern over energy conservation in recent years. One of the reasons assisting in the market's expansion in the upcoming years is the rise in environmental awareness. The need for equipment that is energy-efficient has increased and is employed in many industries. In the upcoming years, the need for insulation will increase as more people become aware of the existence of such technologies. Fluctuating prices for raw materials are one of the issues that would impede the market's expansion at the moment. These prices fluctuate for the many kinds of raw materials that are utilized in the production of the items. Chlorofluorocarbons (CFCs) are a very dangerous component of insulation materials and are included in many of the materials used for insulation. Polystyrene and polyurethane, two of the most frequently used insulating materials, release chlorofluorocarbons as they are destroyed.
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COVID 19 Analysis
Globally, COVID-19 has had an immense effect on the OEM insulation industry, resulting in mobility limitations and lockdowns. In addition to forcing OEM insulation manufacturers to stop producing their products, it also led to the closure of businesses in sectors where OEM insulation is in high demand. OEM insulation is heavily demanded in sectors like construction, transportation, automotive, aerospace, and consumer goods, all of which are badly impacted by Covid-19. As a result, during the COVID-19 period, there was a decline in the market for OEM insulation. However, after mid-2020, as economies began to gradually expand, there was a rise in demand for OEM insulation from a variety of end-user industries. Due to the COVID-19 spread's strong management, demand will increase, causing end-user industries to operate at full capacity.
Market Segmentation
By Material Type
Mineral wool, polyurethane foam (PUF), flexible elastomeric foam (FEF), and other insulations are included in the OEM Insulation Market segmentation, in terms of the Material Type. In 2022, the segment with the highest revenue share was polyurethane foam. The market for foam plastics is expected to grow significantly over the next few years because they now offer a greater range of uses than other types of materials. Because formed plastics offer mechanical properties or unique qualities that cannot be obtained by utilizing other materials, the market for this segment will grow successfully. Extruded polystyrene, expanded polystyrene, and polyurethane foam are just a few examples of the many foamed polymers that are commonly used.
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By End-Use
Building & construction, industrial, transportation, and consumer are the segments of the OEM Insulation Market, depending on End Use. In 2022, the OEM Insulation Market was dominated by the transportation sector. The demand for insulation in cars and hoods will have a big impact on the market's growth in the following years. In many different kinds of vehicles, there is a rising need for comfort, and the auto industry is becoming more and more concerned with passenger safety.
Regional Insights
Since 2022, the North American market has been in the lead (45.80%). The market is expected to grow significantly, especially in the United States, as more individuals become aware of the benefits of utilizing OEM insulation. Additionally, North America's fastest-growing OEM Insulation market was in Canada, while the U.S. OEM Insulation market had the biggest market share.
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