OEM Insulation Market Industry Leaders & New Revenue Pockets

OEM Insulation Market Industry Leaders

The global OEM insulation market size is projected to grow from USD 31.0 billion in 2021 to USD 40.8 billion by 2026, at a CAGR of 5.6% between 2021 and 2026. The growth of this market is attributed to growing stringent regulations for energy-efficient insulation equipment, increase in number of HVAC applications, technological advances, and growing demand in construction, industrial, and transportation industries in Asia Pacific and North American regions.

Download PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=161776724

Browse 205 market data Tables and 49 Figures spread through 228 Pages and in-depth TOC on "OEM Insulation Market by Material Type (Mineral Wool, Polyurethane Foam, Flexible Elastomeric Foam, Other Insulations), End Use (Building & Construction, Industrial, Transportation, Consumer), & Region - Global Forecast"

Recent Developments in OEM Insulation Market Industry

1. In July 2021, Owens Corning announced the acquisition of vliepa GmbH (Germany) which specializes in the coating, printing, finishing of nonwovens, paper and film for the building materials industry. The acquisition helps Owens Corning to serve the building and construction market in the European region.
2. In February 2020, Parafon, the producer of stonewool based acoustic solutions has been acquired by Rockwool International AS to become a part of its Rockfon business. By acquiring this company, Rockfon is establishing its footmarks in northern Europe and nourishing stone wool with its excellent acoustic performance in order to enhance the range of consumers and segments.
3. In January 2020, Covestro AG collaborated with Recticel NV/SA to develop mattresses from end-of-life mattresses. This collaboration aims at creating a circular economy in the polyurethane foam market that is expected to help both the companies in reducing the use of raw materials to produce polyurethane foams

Request FREE Sample of Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=161776724

The OEM insulation market is dominated by large players, such as Covestro AG (Germany), Owens Corning Corp. (US), Rockwool International A/S (Denmark), Saint-Gobain ISOVER (France), Knauf Insulation (US), Huntsman Corporation (US), Armacell International S.A. (Luxembourg), Johns Manville Corporation (US), Kingspan Group (Ireland), China Jushi Co. Ltd. (China), and Rogers Corporation (US). These players have adopted various growth strategies, such as expansions, new product developments, acquisitions, and agreements, to enhance their market footprint and improve their product portfolios. Expansion of their manufacturing plants and offices, globally, is the key strategy adopted by the major players to cater to the increasing demand for OEM insulation products.

The pandemic has impacted more than five billion people across the world, till April 2020. More than 100 countries were under complete or partial lockdown which impacted the OEM insulation business globally and regionally. Supply chain disruption and lockdown due to the pandemic have impacted the GDP of all major economies, such as Germany, the US, Japan, the UK, India, Italy, and France. However, the OEM insulation market is showing signs of recovery and is expected to grow at a moderate rate during the forecast period.

Since January 2020, many OEM insulation manufacturers have entered into various agreements, launched new products, and expanded their production capacities. In December 2020, Owens Corning announced the launch of FOAMULAR NGX (Next Generation Extruded), which is an XPS foam used as a building material, and it delivers 90% reduction in global warming.

In November 2020, Covestro AG developed a sustainable cast elastomer solution, enabling the offshore industry to reduce carbon footprints and environmental impact. The polyurethane elastomers are based on cardyon brand polyols, which contain CO2 and offer the performance as corresponding petrochemical-based elastomers.

In February 2020, Rockwool International A/S announced the acquisition of Parafon, the producer of stone wool-based acoustic solutions. Parafon will be a part of Rockwool's Rockfon business.

Other Companies have Initiated the Following Developments:

1. In September 2021, Johns Manville launched new product in its building insulation segment namely, Corbond High Yield Open-Cell Spray Polyurethane Foam. The product is 100 percent water blown, low density and Class A rated.
2. In August 2020, China Jushi Co., Ltd., announced new product addition in its glass fiber insulation segment, E9 Ultra High Modulus. The product is developed using advanced in-built production technology. The launch of this product provides greater opportunities to the company to strengthen its footprints globally.
3. In August 2020, Armacell International S.A. announced the launch of ArmaGel DT, blanket-type insulation product, which is a next generation flexible aerogel blanket for dual-temperature and cryogenic applications.

OEM Insulation Market Industry New Revenue Pockets

OEM insulation comprises insulation materials that add a protective covering to industrial goods and HVAC equipment to reduce heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperatures. It also prevents the formation of condensation on pipework and acts as a protective barrier against moisture, which can build up inside a pipe, leading to different types of corrosion. OEMs also use various insulation materials to provide acoustic insulation in their products such as industrial heavy machinery, solar, plumbing and drainage pipes, and domestic appliances among others.

OEM insulation is used in various industries such as building & construction, industrial, transportation, and consumer. The COVID-19 pandemic caused a disruption in supply chain of OEM insulation ecosystem as there were many restrictions imposed on international trade and travel. The spike in raw material prices also led to certain volatility in demand for OEM insulation materials. However, the growth in cold storage and refrigeration industry as a result of COVID-19 vaccination drive, increased the demand for OEM insulation materials. Cold storage and refrigeration have played an important role in achieving vaccination goals as vaccines are transported in reefers and have to be stored in cold storages. These reefers and cold storage units are insulated and have to be kept in temperature-controlled conditions.

MarketsandMarkets expects the global OEM insulation market size is projected to grow from USD 31.0 billion in 2021 to USD 40.8 billion by 2026, at a CAGR of 5.6% between 2021 and 2026. The market for OEM insulation is segmented based on material type including mineral wool, Polyurethane Foam (PUF), Flexible Elastomeric Foam (FEF) and other insulations which include Extruded Polystyrene (XPS), Expanded Polystyrene (EPS), aerogel, and other insulations. The PUF segment is projected to be the fastest-growing in the overall OEM insulation market during the forecast period. The growth of the PUF market can be attributed to the growth in cold storage industry which plays a vital role in storage of COVID-19 vaccines. PUF is also the most preferable material used in the transportation industry due to its good strength and rigidity.

The OEM insulation market is classified, based on end use as building & construction, industrial, transportation, and consumer. The transportation segment is projected to register the fastest growth in the overall OEM insulation market during the forecast period in terms of value. The growing demand of transportation systems such as electric vehicles, aircraft, and bullet trains is driving the demand for OEM insulation globally. Governments of various countries are adopting an integrated approach to conserve energy and bring in place an energy management system, which varies according to traffic and environmental conditions. The increasing need for such air-conditioned transport facilities is further boosting the demand for OEM insulation materials.

The OEM insulation market is also studied for regions, which includes, North America, Europe, Asia Pacific, and rest of the world. The Europe region accounted for the largest market share in 2020 for OEM insulation.