OEM Insulation Market to Reach a Revenue of US$ 24.5 Bn by 2033; Rising Building & Construction Safety and Security Components of Vehicles, are Fueling the Demand
12/26/2022, Newark // Future Market Insights, Inc. //
The OEM insulation market is expected to thrive at an average CAGR of 4.2% during the forecast period. The market is anticipated to cross a market share of US$ 24.5 Bn by 2033, while it holds a revenue of US$ 16.2 Bn in 2023.
– The trust factor between the end user and manufacturer works in favor of the OEM insulation market, as the original automotive equipment and services are preferred over the aftermarket.
– Rising industrialization, along with new advanced businesses such as automotive modification and accessories, are fueling the adoption of industrial insulation.
– Rapid urbanization and advanced residential settings have created and boomed tye house insulation and other markets as end users move the more sophisticated setting. Furthermore, the proliferating music industry and home studio setups are propelling the demand for acoustic insulation.
– Heating, ventilation, and air conditioning (HVAC) insulation systems have transformed the OEM insulation industry as it reduces the energy loss for central heating system, piping, and ventilation.
– The use of OEM insulation for fire safety through acoustic and thermal comfort insulation is setting up new trends for the market, fueling the sales of OEM insulation systems.
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- The biggest market for OEM insulation is the US, which thrives on a CAGR of 3.6% and is expected to hold a value of US$ 5.3 Bn by 2033.
- The Indian market is the fastest-growing OEM insulation market which flourishes at a CAGR of 6.1% between 2023 and 2033. The market is set to reach a revenue value of US$ 1.3 bn by 2033.
- OEM insulation market outlook states that foamed plastics segment leads the material type category with a CAGR of 4.1% between 2023 and 2033. The increase is a result of widespread use and simple integration. Based on insulation type, the blanket segment thrives at a CAGR of 4.2% between 2023 and 2033, attributing to the higher installation of OEM insulation in the automotive industry.
Major key players are investing in new insulation technologies such as acoustic and thermal layers. Furthermore, the companies experiment with the changing design and advanced urban settings. The advanced setting involves eco-friendly and sustainable features, manufacturing according to the major trends. Key players in the OEM insulation market are: BASF, Evonik, Paroc Group Oy, SAINT-GOBAIN, Armacell International S.A, Johns Manville Corporation, Henry Company, Styrotech, Inc., NCFI Polyurethanes, Morgan Advanced Materials, Scott Industries LLC, and Anco Products Inc.
- Owens Corning introduced a new technology that would aid in the creation of modern buildings that are more reliable, sustainable, and energy efficient. The model will be working on effective HVAC insulation.
- Evonik has its extended company named Dabco that provides a long range of portfolio of different amine catalysts for insulation. Furthermore, polecat, ortegol, kosmos etc.
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OEM Insulation Market by Material:
- Glass Wool
- Mineral Wool
- Foamed Plastics
OEM Insulation Market by Insulation Type:
- Rolls & Batts
- Loose Fill & Others
OEM Insulation Market by End Use:
- HVAC Equipment
- Building & Construction
- Consumer Appliances
- Other Industrial
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Market Analysis 2017-2022 and Forecast, 2023-2033
to be continued…!
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