The OEM Insulation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s OEM Insulation Global Market Report 2024, The oem insulation market size has grown strongly in recent years. It will grow from $20.67 billion in 2023 to $21.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrial growth and expansion, energy efficiency regulations, focus on sustainability, temperature control requirements, government incentives and rebates, globalization of manufacturing..
The oem insulation market size is expected to see strong growth in the next few years. It will grow to $27.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to global push for renewable energy, urbanization and infrastructure development, circular economy initiatives, focus on noise reduction, increasing use of composite materials.. Major trends in the forecast period include stringent energy efficiency regulations, integration of smart insulation technologies, customization and tailored solutions, lightweight insulation for transportation equipment, integration of insulation in hvac systems, partnerships and collaborations..
The rising construction of commercial offices and industries is expected to propel the growth of the OEM insulation market going forward. Construction of commercial offices and industries refers to the process of constructing a high-quality building for business purposes. The construction of commercial offices and industries requires advanced insulating materials to reduce energy consumption and operational cost. For instance, in August 2022, according to data published by the United States Census Bureau, a US-based Federal Statistical agency, the total spending on industrial construction in the US was $1,762.3 billion in June 2022. Therefore, the rising construction of commercial offices and industries is driving the growth of the OEM insulation market.
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The oem insulation market covered in this report is segmented –
1) By Insulation Type: Blankets, Rolls and Batts, Loose Fill, Other Insulation Types
2) By Material Type: Mineral Wool, Polyurethane Foam (PUF), Flexible Elastomeric Foam (FEF), Other Material Types
3) By End User: Aerospace, Automotive, Marine, HVAC Equipment, Building and Construction, Consumer Appliances, Other End-Users
Technological advancement is a key trend gaining popularity in the OEM insulation market. Major companies operating in the OEM insulation market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Owens Corning Corporation, a US-based company operating in OEM insulation, launched PINK Next Gen Fiberglas insulation based on advanced fiber technology. Advanced fiber technology helps to improve stiffness and recovery for quicker deployment, allowing superior texture with fewer chunks and clumps for one-pass clean cuts and less dust to make the surface smooth. This technology allows the installation of insulating material in a very short time of application, creates a woven network of fibers that develop resilient blankets of insulating micro-pockets, and is free from hazardous chemicals to protect against environmental pollution.
The oem insulation market report table of contents includes:
1. Executive Summary
2. OEM Insulation Market Characteristics
3. OEM Insulation Market Trends And Strategies
4. OEM Insulation Market – Macro Economic Scenario
5. Global OEM Insulation Market Size and Growth
….
31. Global OEM Insulation Market Competitive Benchmarking
32. Global OEM Insulation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The OEM Insulation Market
34. OEM Insulation Market Future Outlook and Potential Analysis
35. Appendix
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