Middle East & Africa Industrial Insulation Market Forecast to 2028

Middle East & Africa Industrial Insulation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Raw Material (Wool, Foams, Fibres, and Others), Product (Pipe, Board, Blanket, and Others), and End User (Power Generation, Chemical and Petrochemical, Cement, Food and Beverage, and Others)

Report Code : BMIRE00027623 | Region : LAMEA | Industry : Chemicals and Materials | Published Date : 16/Dec/2022

The MEA industrial insulation market is expected to grow from US$ 636.00 million in 2022 to US$ 778.50 million by 2028. It is estimated to grow at a CAGR of 3.4% from 2022 to 2028.

Increased Infrastructural Spending in Emerging Economies

With increase construction activities across the region, the demand for industrial insulation is increasing, industrial insulation in infrastructures help in protection from heat, fire, and corrosion. Industrial Insulation products when used in buildings deliver superior performance, which includes air sealing, moisture control, and thermal insulation. In commercial buildings saving on energy and operating costs is crucial, and foam insulation is widely used in infrastructures it is efficient and economical. Industrial facilities and commercial buildings have unique needs when compared to single family or multi-unit residences. These large buildings have energy and utility demands and all of them can affect economic viability of building, in this case industrial insulation helps in reducing operating costs. Infrastructure spending is growing significantly over the coming decade. Development of megacities is shifting economic and demographic trends which will create enormous need for new infrastructure. Increasing focus on inclusive and sustainable industrialization with innovative infrastructure is unleashing dynamic and competitive opportunities for industrial insulation. Further, infrastructural development in economies is expected to boost the industrial activities, and this has surged the consumption of industrial insulation. An increase in spending and industrial activities are thus expected to provide major opportunities for the growth of industrial insulation market across the region.

Market Overview

The MEA industrial insulation market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in the region is driven by increasing demand for industrial insulation products from various sectors, including power generation and chemical & petrochemical. According to the findings of DNV GL’s Energy Transition Outlook 2018, electricity demand in Middle East will triple by 2050, accelerating the growth of renewable energy and triggering the diversification of economies away from fossil fuels. According to the same report, primary energy consumption will continue to grow moderately, and this growth will be driven by manufacturing, buildings, and transport. Thus, the increasing power requirements of the region are expected to propel the demand for industrial insulation products in the coming years. Further, the MEA will remain a major focus of petrochemicals development.

MEA Industrial Insulation Market Revenue and Forecast to 2028 (US$ Million)

MEA Industrial Insulation Market Segmentation

The MEA industrial insulation market is segmented based on raw material, product, end user, and country.

Based on raw material, the MEA industrial insulation market is segmented into wool, foams, fibres, and others. The foams segment held the largest market share in 2022. Based on product, the MEA industrial insulation market is segmented into pipe, board, blanket, and others. The pipe segment held the largest market share in 2022. Based on end user, the MEA industrial insulation market is segmented into power generation, chemical and petrochemical, cement, food and beverage, and others. The power generation segment held the largest market share in 2022. Based on country, the MEA industrial insulation market has been categorized into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia dominated the market share in 2022. Aspen Aerogels Inc., Cabot Corporation, Johns Manville, Kingspan Group, Knauf Insulation, ROCKWOOL A/S, and Saint Gobain S.A. are the leading companies operating in the MEA industrial insulation market.

At 3.4% CAGR, the MEA Industrial Insulation Market is speculated to be worth US$ 778.50 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the MEA industrial insulation market was valued at US$ 636.00 million in 2022 and is expected to reach US$ 778.50 million by 2028, registering a CAGR of 3.4% from 2022 to 2028. Development of new products with latest technology and increased infrastructural spending in emerging economies are the critical factors attributed to the market expansion.

Prominent manufacturers in the industrial insulation market are developing and offering new insulation products with latest technology. Additionally, players are focusing on expanding manufacturing capacity. In July 2021, Rockwool manufacturing announced the commercial production of stone wool insulation products. The company would manufacturer ROCKWOOL’s residential, commercial, and industrial stone wool insulation. It has also expanded its manufacturing capacity. Further in March 2021, Cabot Corporation launched its ENERMAXTM 6 carbon nanotube new series. These nanotubes are the company’s latest addition to its portfolio of high-performance CNTs. It has a high aspect ratio, becoming the most conductive multi-walled product. Further, in August 2020, Owens Corning announced that it has launched its new product line, FOAMULAR NGX (next generation extruded). The new product line of extruded polystyrene (XPS) foam products would help in reducing global warming by 90% without sacrificing the product performance. All these new developments would drive the industrial insulation market growth during the forecast period.

On the contrary, high capital cost and lack of skilled labor for installation hurdles the growth of MEA industrial insulation market.

Based on raw material, the MEA industrial insulation market is segmented into wool, foams, fibres, and others. The foams segment held 46.2% market share in 2022, amassing US$ 293.64 million. It is projected to garner US$ 358.55 million by 2028 to expand at 3.4% CAGR during 2022–2028. Based on product, the MEA industrial insulation market is segmented into pipe, board, blanket, and others. The pipe segment held 45.7% market share in 2022, amassing US$ 290.79 million. It is projected to garner US$ 365.14 million by 2028 to expand at 3.9% CAGR during 2022–2028. Based on end user, the MEA industrial insulation market is segmented into power generation, chemical and petrochemical, cement, food and beverage, and others. The power generation segment held 38.6% market share in 2022, amassing US$ 245.44 million. It is projected to garner US$ 308.23 million by 2028 to expand at 3.9% CAGR during 2022–2028. Based on country, the MEA industrial insulation market has been categorized into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia captured 38.1% market share in 2022. It was assessed at US$ 242.08 million in 2022 and is likely to hit US$ 302.48 million by 2028, exhibiting a CAGR of 3.8% during the forecast period. Key players dominating the MEA industrial insulation market are Aspen Aerogels Inc., Cabot Corporation, Johns Manville, Kingspan Group, Knauf Insulation, ROCKWOOL A/S, and Saint Gobain S.A., among others.

In 2021, Knauf Insulation announced its approval of pipework insulation to be added to its Energy Technology List (ETL). Knauf Insulation is currently the only manufacturer of pipe insulation to be granted approval for its pipe insulation to be added to the list to meet an enhanced level of thermal performance. In 2020, Johns Manville announced the launch of a complete portfolio of water-repellent mineral wool products for industrial insulation market. The product launch was aimed meet the growing demand for water-repellent materials in industrial insulation market.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 MEA Industrial Insulation Market, by Raw Material

1.3.2 MEA Industrial Insulation Market, by Product

1.3.3 MEA Industrial Insulation Market, by End User

1.3.4 MEA Industrial Insulation Market, by Country

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis formulation:

3.2.4 Macro-economic factor analysis:

3.2.5 Developing base number:

3.2.6 Data Triangulation:

3.2.7 Country level data:

4. MEA Industrial Insulation Market Landscape

4.1 Market Overview

4.2 MEA PEST Analysis

4.3 Expert Opinion

5. MEA Industrial Insulation Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Demand from Power Generation Sector

5.1.2 Strict Regulation Mandating the Use of Insulation Materials for Energy Conservation

5.2 Market Restraints

5.2.1 High Capital Cost and Lack of Skilled Labor for Installation

5.3 Market Opportunities

5.3.1 Increased Infrastructural Spending in Emerging Economies

5.4 Future Trends

5.4.1 Development of New Products with Latest Technology

5.5 Impact Analysis

6. Industrial Insulation Market – MEA Analysis

6.1 MEA Industrial Insulation Market Overview

7. MEA Industrial Insulation Market Analysis – By Raw Material

7.1 Overview

7.2 MEA Industrial Insulation Market, By Raw Material (2021 and 2028)

7.3 Wool

7.3.1 Overview

7.3.2 Wool: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Foams

7.4.1 Overview

7.4.2 Foams: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Fibres and Others

7.5.1 Overview

7.5.2 Fibres and Others: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

8. MEA Industrial Insulation Market Analysis – By Product

8.1 Overview

8.2 MEA Industrial Insulation Market, By Product (2021 and 2028)

8.3 Pipe

8.3.1 Overview

8.3.2 Pipe: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Board

8.4.1 Overview

8.4.2 Board: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Blanket

8.5.1 Overview

8.5.2 Blanket: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Others

8.6.1 Overview

8.6.2 Others: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

9. MEA Industrial Insulation Market Analysis – By End User

9.1 Overview

9.2 MEA Industrial Insulation Market, By End User (2021 and 2028)

9.3 Power Generation

9.3.1 Overview

9.3.2 Power Generation: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Chemical and Petrochemical

9.4.1 Overview

9.4.2 Chemical and Petrochemical: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Cement

9.5.1 Overview

9.5.2 Cement: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

9.6 Food and Beverage

9.6.1 Overview

9.6.2 Food and Beverage: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

9.7 Others

9.7.1 Overview

9.7.2 Others: Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

10. MEA Industrial Insulation Market – Country Analysis

10.1 Overview

10.1.1 MEA: Industrial Insulation Market, by Key Country

10.1.1.1 South Africa: Industrial Insulation Market –Analysis and Forecast to 2028 (US$ Million)

10.1.1.1.1 South Africa: Industrial Insulation Market, by Raw Material

10.1.1.1.2 South Africa: Industrial Insulation Market, by Product

10.1.1.1.3 South Africa: Industrial Insulation Market, by End-User

10.1.1.2 Saudi Arabia: Industrial Insulation Market –Analysis and Forecast to 2028 (US$ Million)

10.1.1.2.1 Saudi Arabia: Industrial Insulation Market, by Raw Material

10.1.1.2.2 Saudi Arabia: Industrial Insulation Market, by Product

10.1.1.2.3 Saudi Arabia: Industrial Insulation Market, by End-User

10.1.1.3 UAE: Industrial Insulation Market –Analysis and Forecast to 2028 (US$ Million)

10.1.1.3.1 UAE: Industrial Insulation Market, by Raw Material

10.1.1.3.2 UAE: Industrial Insulation Market, by Product

10.1.1.3.3 UAE: Industrial Insulation Market, by End-User

10.1.1.4 Rest of the MEA: Industrial Insulation Market –Analysis and Forecast to 2028 (US$ Million)

10.1.1.4.1 Rest of the MEA: Industrial Insulation Market, by Raw Material

10.1.1.4.2 Rest of the MEA: Industrial Insulation Market, by Product

10.1.1.4.3 Rest of the MEA: Industrial Insulation Market, by End-User

11. Industry Landscape

11.1 Overview

11.2 Strategy and Business Planning

11.3 New Product Development

11.4 Expansion

11.5 Mergers and Acquisitions

12. COMPANY PROFILES

12.1 Saint Gobain S.A.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Knauf Insulation

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Kingspan Group

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Cabot Corporation

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Johns Manville

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Aspen Aerogels Inc.

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 ROCKWOOL A/S

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary of Terms

LIST OF TABLES.

Table 1. MEA Industrial Insulation Market –Revenue and Forecast to 2028 (US$ Million)

Table 2. South Africa Industrial Insulation Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 3. South Africa Industrial Insulation Market, by Product– Revenue and Forecast to 2028 (US$ Million)

Table 4. South Africa Industrial Insulation Market, by End-User– Revenue and Forecast to 2028 (US$ Million)

Table 5. Saudi Arabia Industrial Insulation Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 6. Saudi Arabia Industrial Insulation Market, by Product– Revenue and Forecast to 2028 (US$ Million)

Table 7. Saudi Arabia Industrial Insulation Market, by End-User– Revenue and Forecast to 2028 (US$ Million)

Table 8. UAE Industrial Insulation Market, by Raw Material– Revenue and Forecast to 2028 (US$ Million)

Table 9. UAE Industrial Insulation Market, by Product– Revenue and Forecast to 2028 (US$ Million)

Table 10. UAE Industrial Insulation Market, by End-User– Revenue and Forecast to 2028 (US$ Million)

Table 11. Rest of the MEA Industrial Insulation Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 12. Rest of the MEA Industrial Insulation Market, by Product– Revenue and Forecast to 2028 (US$ Million)

Table 13. Rest of the MEA Industrial Insulation Market, by End-User– Revenue and Forecast to 2028 (US$ Million)

Table 14. Glossary of Terms

LIST OF FIGURES.

Figure 1. MEA Industrial Insulation Market Segmentation

Figure 2. MEA Industrial Insulation Market Segmentation – By Country

Figure 3. MEA Industrial Insulation Market Overview

Figure 4. MEA Industrial Insulation Market, By Raw Material

Figure 5. MEA Industrial Insulation Market, by Country

Figure 6. MEA: PEST Analysis

Figure 7. Expert Opinion

Figure 8. MEA Industrial Insulation Market Impact Analysis of Drivers and Restraints

Figure 9. MEA Industrial Insulation Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10. MEA Industrial Insulation Market Revenue Share, By Raw Material (2021 and 2028)

Figure 11. MEA Wool: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 12. MEA Foams: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 13. MEA Fibers and Others: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 14. MEA Industrial Insulation Market Revenue Share, By Product (2021 and 2028)

Figure 15. MEA Pipe: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16. MEA Board: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 17. MEA Blanket: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 18. MEA Others: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 19. MEA Industrial Insulation Market Revenue Share, By End User (2021 and 2028)

Figure 20. MEA Power Generation: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21. MEA Chemical and Petrochemical: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 22. MEA Cement: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 23. MEA Food and Beverage: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 24. MEA Others: Industrial Insulation Market – Revenue and Forecast To 2028 (US$ Million)

Figure 25. MEA: Industrial Insulations Market, by Key Country – Revenue (2021) (US$ ‘Million)

Figure 26. MEA: Industrial Insulation Market Revenue Share, By Key Country (2021 And 2028)

Figure 27. South Africa: Industrial Insulation Market –Revenue and Forecast to 2028 (US$ Million)

Figure 28. Saudi Arabia: Industrial Insulation Market –Revenue and Forecast to 2028 (US$ Million)

Figure 29. UAE: Industrial Insulation Market –Revenue and Forecast to 2028 (US$ Million)

Figure 30. Rest of the MEA: Industrial Insulation Market –Revenue and Forecast to 2028 (US$ Million)

● Aspen Aerogels Inc

● Cabot Corporation

● Johns Manville

● Kingspan Group

● Knauf Insulation

● ROCKWOOL A/S

● Saint Gobain S.A.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA industrial insulation market.

● Highlights key business priorities to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the MEA industrial insulation market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the industrial insulation market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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