According to estimates, size of the global OEM insulation market was around US$ 13,727.6 million in 2018. In 2023, it’s projected to generate US$ 15,224.6 million in terms of revenue.
By the end of 2033, the market is anticipated to reach US$ 23,284.8 million. It is estimated to witness a 4.3% CAGR from 2023 to 2033.
Rise of the industrial sector is one of the key reasons driving growth in the OEM insulation industry globally. Insulation materials are increasingly gaining demand from sectors such as automotive, aerospace, electronics, and consumer appliances.
They are used to improve product performance and efficiency. As these sectors grow and adapt, so will the demand for OEM insulation to improve thermal management. It would also be extensively used to minimize noise and vibration, as well as satisfy regulatory standards.
Aircraft engines provide thermal insulation, reduce noise levels in the cabin, and safeguard sensitive electronic components. As the aerospace sector expands to meet the rising demand for air travel, demand for improved insulation solutions is expected to elevate.
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The electronics and appliances sectors might further help to drive growth in the OEM insulation market. With expansion of electronic gadgets and household appliances, insulating materials are becoming increasingly important for managing heat dissipation.
They are also projected to help in preventing overheating and improving energy efficiency. Insulation is an essential component of the production process for electrical gadgets and appliances since it plays a critical role in their performance and longevity.
Increasing production & sales of electric vehicles (EVs) and hybrid vehicles has boosted demand for OEM insulation in the automotive sector dramatically. To ensure optimal performance, these vehicles require excellent insulation materials to regulate temperature related properties of their batteries, electric motors, and power electronics.
Sustainable practices and eco-friendly solutions are becoming increasingly important in a variety of businesses. OEM insulation products with a lower environmental effect that are built from recyclable or renewable materials are gaining popularity. Demand for sustainable insulation solutions that help to reduce energy usage and carbon footprints is driving the market.
Key Takeaways from OEM Insulation Market Study:
- East Asia OEM insulation industry is expected to witness a CAGR of 0% during the projected time frame.
- The global OEM insulation industry witnessed a CAGR of 6% over the historical period from 2018 to 2022.
- Japan OEM insulation industry is set to expand at a CAGR of 3% during the forecast period.
- India OEM insulation industry is likely to flourish at a CAGR of 8% during the forecast period.
- By material, the foamed plastic segment is anticipated to hold around 40% of the OEM insulation industry share in 2023.
“To reduce noise levels in machinery, automobiles, appliances, and other equipment, sound-absorbing insulation materials are being sought after. OEM insulation might successfully limit noise transfer, making the user experience quieter and more enjoyable. As a result, there will be an increasing demand for OEM insulation materials with outstanding acoustic qualities.” – Says a lead analyst at Future Market Insights (FMI)
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Competitive Landscape
The OEM insulation industry is made up of a variety of well-established companies with a solid market position. These businesses are well-known, have a wealth of expertise, and offer a variety of OEM insulation materials. They frequently have extensive distribution networks, excellent manufacturing capabilities, and solid connections to OEMs in various sectors.
To create cutting-edge insulation solutions, businesses on the global market would continually make research and development investments. Improved insulating performance, increased energy efficiency, and fulfilling changing industrial needs might be the main areas of attention for technological developments. Key firms would have a competitive advantage in the market if they could provide cutting-edge, high-performance insulation materials.
For instance,
- At Foam Expo Europe in November 2022, Moorefoam, the first and only completely elliptical regenerative open cell foam, was unveiled by Foamplant. Moorefoam can assist producers of beds, furniture, cars, and avionics in making their products more environmentally friendly. By consistently reusing Moorefoam, they can cut their carbon footprint by 90%. They can also significantly lessen the environmental impact of their operations, as well as meet their sustainability goals.
Top Key Player in the Market
- Knauf Insulation Inc
- Owens Corning Insulating Systems
- LLC
- Johns Manville Corporation
- Saint Gobain
- Armacell International S.A
- 3M
- Rockwool Group
- BASF
- Paroc Group
- Others
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Get More Valuable Insights into the OEM Insulation Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global OEM insulation industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on material (glass wool, mineral wool, fiberglass, reflective insulation, ceramic insulation, foamed plastic, elastomeric foam, and others), insulation (blankets, rolls and batts, loose fill, and others), end-use industry (aerospace, automotive, marine, HVAC, building and construction, consumers appliances, and others), and regions.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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