North America Industrial Insulation Market Size & Outlook
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North America industrial insulation market highlights
- The North America industrial insulation market generated a revenue of USD 2,230.6 million in 2023.
- The market is expected to grow at a CAGR of 3.6% from 2024 to 2030.
- In terms of segment, glass wool was the largest revenue generating product in 2023.
- Calcium silicate is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,230.6 million |
| Market revenue in 2030 | USD 2,859.8 million |
| Growth rate | 3.6% (CAGR from 2023 to 2030) |
| Largest segment | Glass wool |
| Fastest growing segment | Calcium silicate |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stone wool, Glass wool, CMS Fibers, Calcium silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica |
| Key market players worldwide | Rockwool AS Class B, Owens-Corning Inc, Knauf, Northern Venture Capital Trust, APi Group Corp, Aspen Aerogels Inc, Cabot Corp, Morgan Advanced Materials PLC, Unifrax, Ibiden Co Ltd, Armacell |
Other key industry trends
- In terms of revenue, North America region accounted for 25.9% of the global industrial insulation market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,353.4 million by 2030.
Glass wool was the largest segment with a revenue share of 21.74% in 2023. Horizon Databook has segmented the North America industrial insulation market based on stone wool, glass wool, cms fibers, calcium silicate, cellular glass, foamed plastic, elastomeric foam, perlite, aerogel, cellulose, micro silica covering the revenue growth of each sub-segment from 2018 to 2030.
The industrial insulation market in North America is relatively slow performing and thus can be considered a steady contributor. The industry has witnessed slow but stable growth in most of the application segments. Insulation materials have been in demand in this region for a long time, and hence the industry is highly price-sensitive.
The presence of key market players is a major factor, which is likely to support the industry growth. The U.S. industrial insulation market is expected to benefit from recovering nonresidential building construction expenditures, particularly in the office and commercial segments.
Rising awareness regarding environmentally friendly construction practices is expected to propel insulation use with an aim to reduce energy consumption. Industrial insulation demand will be supported by rising industrial construction spending.
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Industrial Insulation Market Scope
Industrial Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Unifrax | View profile | 1001-5000 | Tonawanda, New York, United States, North America | http://www.unifrax.com/ |
| Armacell | View profile | 1001-5000 | Luxembourg, Luxembourg, Luxembourg, Europe | http://www.armacell.com |
| Northern Venture Capital Trust | View profile | - | Henley In Arden, Warwickshire, United Kingdom, Europe | - |
| Ibiden Co Ltd | View profile | 15212 | 2-1 Kanda-cho, Ogaki, Gifu, Japan, 503-8604 | https://www.ibiden.com |
| Morgan Advanced Materials PLC | View profile | 8783 | Sheet Street, York House, Windsor, United Kingdom, SL4 1DD | https://www.morganadvancedmaterials.com |
| Knauf | View profile | 51-100 | Utrecht, Utrecht, The Netherlands, Europe | https://knauf.be/nl |
| Aspen Aerogels Inc | View profile | 548 | 30 Forbes Road, Building B, Northborough, MA, United States, 01532 | https://www.aerogel.com |
| Rockwool AS Class B | View profile | 12017 | Hovedgaden 584, Hedehusene, Denmark, 2640 | https://www.rockwool.com |
| Owens-Corning Inc | View profile | 18000 | One Owens Corning Parkway, Toledo, OH, United States, 43659 | https://www.owenscorning.com |
| Cabot Corp | View profile | 4300 | Two Seaport Lane, Suite 1400, Boston, MA, United States, 02210 | https://www.cabotcorp.com |
| APi Group Corp | View profile | 29000 | c/o APi Group, Inc, 1100 Old Highway 8 NW, New Brighton, MN, United States, 55112 | https://www.apigroupinc.com |
North America industrial insulation market size, by country, 2018-2030 (US$M)
North America Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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