U.S. Industrial Insulation Market Size & Outlook, 2023-2030
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U.S. industrial insulation market highlights
- The U.S. industrial insulation market generated a revenue of USD 1,904.3 million in 2023 and is expected to reach USD 2,420.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
- In terms of segment, stone 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.
Industrial insulation market data book summary
| Market revenue in 2023 | USD 1,904.3 million |
| Market revenue in 2030 | USD 2,420.8 million |
| Growth rate | 3.5% (CAGR from 2023 to 2030) |
| Largest segment | Stone wool |
| Fastest growing segment | Calcium silicate |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 22.1% of the global industrial insulation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. industrial insulation market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 293.6 million by 2030.
Stone wool was the largest segment with a revenue share of 21.39% in 2023. Horizon Databook has segmented the U.S. 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 market in the U.S. is expected to witness increased demand for insulation for industrial applications, such as, machinery, boilers, pipes, and storage tanks; and in linings of heat exchangers, cooling towers, and ventilation & air conditioning systems, among others.
However, extremely fastpaced growth in industrial sector in Asia Pacific, especially in China, India may limit the industrial expansion in the U.S., which may hamper the market growth. The U.S. industrial insulation market growth is not uniform across the all segments.
The industry experienced minor fluctuations in the past owing to minor drop in oil prices, reduced activity in the manufacturing sector, and economic slow-down, resulting into hampered growth of industrial sector.
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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 |
U.S. industrial insulation market size, by product, 2018-2030 (US$M)
U.S. Industrial Insulation Market Outlook Share, 2023 & 2030 (US$M)
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