Overall Sales for OEM Insulation Market is Expected to Hit Revenue of US$ 16.2 Bn in 2023 & is Further Projected to Cross Worth of US$ 24.5 Bn by year 2033-end | Latest Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
5 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Increased Urbanization and Advanced Interior Technology Are Driving up Demand for OEM Insulation Market, to Reach a Revenue of US$ 24.5 Bn by 2033. Burgeoning industrial needs in Asia Pacific give a clear indication of OEM insulation market growth over the coming years.
NEWARK, Del, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The OEM insulation market is expected to thrive at an average CAGR of 4.2% during the forecast period. The market is anticipated to cross a market share of US$ 24.5 Bn by 2033, while it holds a revenue of US$ 16.2 Bn in 2023.
- The trust factor between the end user and manufacturer works in favor of the OEM insulation market, as the original automotive equipment and services are preferred over the aftermarket.
- Rising industrialization, along with new advanced businesses such as automotive modification and accessories, are fueling the adoption of industrial insulation.
- Rapid urbanization and advanced residential settings have created and boomed tye house insulation and other markets as end users move the more sophisticated setting. Furthermore, the proliferating music industry and home studio setups are propelling the demand for acoustic insulation.
- Heating, ventilation, and air conditioning (HVAC) insulation systems have transformed the OEM insulation industry as it reduces the energy loss for central heating system, piping, and ventilation.
- The use of OEM insulation for fire safety through acoustic and thermal comfort insulation is setting up new trends for the market, fueling the sales of OEM insulation systems.
Key Points
The biggest market for OEM insulation is the US, which thrives on a CAGR of 3.6% and is expected to hold a value of US$ 5.3 Bn by 2033.
The Indian market is the fastest-growing OEM insulation market which flourishes at a CAGR of 6.1% between 2023 and 2033. The market is set to reach a revenue value of US$ 1.3 bn by 2033.
OEM insulation market outlook states that foamed plastics segment leads the material type category with a CAGR of 4.1% between 2023 and 2033. The increase is a result of widespread use and simple integration. Based on insulation type, the blanket segment thrives at a CAGR of 4.2% between 2023 and 2033, attributing to the higher installation of OEM insulation in the automotive industry.
Competitive Landscape
Major key players are investing in new insulation technologies such as acoustic and thermal layers. Furthermore, the companies experiment with the changing design and advanced urban settings. The advanced setting involves eco-friendly and sustainable features, manufacturing according to the major trends. Key players in the OEM insulation market are: BASF, Evonik, Paroc Group Oy, SAINT-GOBAIN, Armacell International S.A, Johns Manville Corporation, Henry Company, Styrotech, Inc., NCFI Polyurethanes, Morgan Advanced Materials, Scott Industries LLC, and Anco Products Inc.
Owens Corning introduced a new technology that would aid in the creation of modern buildings that are more reliable, sustainable, and energy efficient. The model will be working on effective HVAC insulation.
Evonik has its extended company named Dabco that provides a long range of portfolio of different amine catalysts for insulation. Furthermore, polecat, ortegol, kosmos etc.
Have a Look at Latest Reports of Chemicals & Materials Domain
Biomass Pellets Market Share: Growing demand for biomass pellets for heating applications in commercial, residential and industrial sectors is anticipated to bolster the sales of biomass pellets over the upcoming assessment period of 2022-2032.
Oilfield Chemicals Market Size: Increasing applications across diverse oilfield operations such as production, drilling, well stimulation, enhanced oil recovery, cementing, and hydraulic fracturing is propelling the demand for oilfield chemicals in the market.
Polyurea Coatings Market Trends: Prominently driven by the building and construction industry’s growth, the market for polyuria coatings is likely to observe robust revenue growth, at an estimated 9% CAGR during 2019-2029.
Potassium Formate Market Outlook: Growing demand for eco-friendly products for de-icing applications and drilling fluid is expected to boost sales at a steady 4.2% CAGR between 2022 and 2029.
Compressor Oil Market Demand: Compressor oil market is expected to grow at a positive rate during the assessment period from 2021 to 2031.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
