According to estimates, size of the global OEM insulation industry was around US$ 13,727.6 million in 2018. It is expected to generate $15,224.6 million in sales in 2023.
By the end of 2033, the market is estimated to be valued US$ 23,284.8 million. It is predicted to increase at a 4.3% CAGR between 2023 and 2033.
The increase of the industrial sector is one of the key reasons driving global progress in the OEM insulation market. Insulation materials are being used more frequently in industries such as automotive, aerospace, electronics, and consumer electronics.
They are used to improve product performance and efficiency. As these industries grow and adapt, the demand for OEM insulation to improve thermal management will rise. It would also be widely used to reduce noise and vibration while still fulfilling regulatory standards.
Aircraft engines provide thermal insulation, reduce cabin noise, and safeguard sensitive electronic components. Demand for improved insulation solutions is expected to rise as the aviation industry expands to meet increased demand for air travel.
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The electronics and appliances industries may also contribute to the growth of the OEM insulation industry. With the proliferation of electronic devices and household appliances, insulating materials are becoming increasingly vital for heat dissipation management.
They are also expected to aid in the prevention of overheating and the improvement of energy efficiency. Insulation is a vital component of the manufacturing process for electrical devices and appliances since it affects their performance and lifetime.
Increased production and sales of electric vehicles (EVs) and hybrid vehicles have significantly increased demand for OEM insulation in the automotive sector. These cars require superior insulation materials to govern the temperature-related qualities of their batteries, electric motors, and power electronics in order to work optimally.
Sustainable practices and environmentally friendly solutions are becoming increasingly significant in a wide range of industries. OEM insulation products that have a lesser environmental impact and are made from recyclable or renewable materials are becoming more popular. The market is being driven by demand for sustainable insulation solutions that help to minimize energy consumption and carbon footprints.
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 Industry
- 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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