Home Press Releases Increasing Demand for Energy-Efficient Solutions Drives Growth in the OEM Insulation Market

Increasing Demand for Energy-Efficient Solutions Drives Growth in the OEM Insulation Market

by Press Room


 


(EMAILWIRE.COM, April 12, 2023 ) The report “OEM Insulation Market by Material Type (Mineral Wool, Polyurethane Foam, Flexible Elastomeric Foam, Other Insulations), End Use (Building & Construction, Industrial, Transportation, Consumer), & Region – Global Forecast to 2026″ The global OEM insulation market size is projected to grow from USD 31.0 billion in 2021 to USD 40.8 billion by 2026, at a CAGR of 5.6% between 2021 and 2026.

OEM insulation comprises insulation materials that add a protective covering to industrial goods and HVAC equipment to reduce heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperatures. It also prevents the formation of condensation on pipework and acts as a protective barrier against moisture, which can build up inside a pipe, leading to different types of corrosion. OEMs also use various insulation materials to provide acoustic insulation in their products such as industrial heavy machinery, solar, plumbing and drainage pipes, and domestic appliances among others.

OEM insulation is used in various industries such as building & construction, industrial, transportation, and consumer. The COVID-19 pandemic caused a disruption in supply chain of OEM insulation ecosystem as there were many restrictions imposed on international trade and travel. The spike in raw material prices also led to certain volatility in demand for OEM insulation materials. However, the growth in cold storage and refrigeration industry as a result of COVID-19 vaccination drive, increased the demand for OEM insulation materials. Cold storage and refrigeration have played an important role in achieving vaccination goals as vaccines are transported in reefers and have to be stored in cold storages. These reefers and cold storage units are insulated and have to be kept in temperature-controlled conditions.

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Browse in-depth TOC on “OEM Insulation Market”

205 – Market Data Tables

49 – Figures

228 – Pages

The PUF segment is projected to be the fastest-growing in the overall OEM insulation market during the forecast period. The growth of the PUF market can be attributed to the growth in cold storage industry which plays a vital role in storage of COVID-19 vaccines. PUF is also the most preferable material used in the transportation industry due to its good strength and rigidity.

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The OEM insulation market is classified, based on end use as building & construction, industrial, transportation, and consumer. The transportation segment is projected to register the fastest growth in the overall OEM insulation market during the forecast period in terms of value. The growing demand of transportation systems such as electric vehicles, aircraft, and bullet trains is driving the demand for OEM insulation globally. Governments of various countries are adopting an integrated approach to conserve energy and bring in place an energy management system, which varies according to traffic and environmental conditions. The increasing need for such air-conditioned transport facilities is further boosting the demand for OEM insulation materials.

The OEM insulation market is also studied for regions, which includes, North America, Europe, Asia Pacific, and rest of the world. The Europe region accounted for the largest market share in 2020 for OEM insulation.

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