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LONDON, GREATER LONDON, UNITED KINGDOM, October 4, 2024 /EINPresswire.com/ -- The oem insulation market has experienced robust growth in recent years, expanding from $20.67 billion in 2023 to $21.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrial growth and expansion, energy efficiency regulations, focus on sustainability, temperature control requirements, government incentives and rebates, globalization of manufacturing.
What Is The Estimated Market Size Of The Global OEM Insulation Market And Its Annual Growth Rate?
The oem insulation market is projected to continue its strong growth, reaching $27.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to global push for renewable energy, urbanization and infrastructure development, circular economy initiatives, focus on noise reduction, increasing use of composite materials.
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Growth Driver Of The OEM Insulation Market
The rising construction of commercial offices and industries is expected to propel the growth of the OEM insulation market going forward. Construction of commercial offices and industries refers to the process of constructing a high-quality building for business purposes. The construction of commercial offices and industries requires advanced insulating materials to reduce energy consumption and operational cost.
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Which Market Players Are Driving The OEM Insulation Market Growth?
Key players in the market include Compagnie de Saint Gobain SA, 3M Company, ALP Group Ltd., Armacell International SA, Aspen Aerogels Inc., Atlas Roofing Corporation, BASF SE, Covestro AG, Evonik Industries AG, Johns Manville Corporation, Knauf Insulation GmbH, Owens Corning Corporation, Rockwool International AS, Scott Manufacturing LLC, Armacell International Holding, CertainTeed Corp., Dow Inc., Fi-Foil Company, Fireshell Ltd., Fitech Engineers Pvt. Ltd., GAF Materials Corporation, GTS Interior Supply Co., Industrial Thermo Polymers Limited, ITW Insulation Systems Inc., Johns-Manville Corporation, Kingspan Group plc, Knauf Insulation Ltd., Lapolla Industries Inc., Reflectix Inc., Rmax Broadband Pvt. Ltd.
What Are the Key Trends That Influence The OEM Insulation Market Size?
Major companies operating in the OEM insulation market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Owens Corning Corporation, a US-based company operating in OEM insulation, launched PINK Next Gen Fiberglas insulation based on advanced fiber technology.
How Is The Global OEM Insulation Market Segmented?
1) By Insulation Type: Blankets, Rolls and Batts, Loose Fill, Other Insulation Types
2) By Material Type: Mineral Wool, Polyurethane Foam (PUF), Flexible Elastomeric Foam (FEF), Other Material Types
3) By End User: Aerospace, Automotive, Marine, HVAC Equipment, Building and Construction, Consumer Appliances, Other End-Users
Geographical Insights: Asia-Pacific Leading The OEM Insulation Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
OEM Insulation Market Definition
Original equipment manufacturer (OEM) insulation refers to an original equipment manufacturer that is involved in the production of insulation products that minimizes heat gain or loss by creating a block between surfaces at different temperatures. An insulation system that has been correctly planned and installed quickly minimizes the need for energy and produces considerable savings.
OEM Insulation Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global oem insulation market report covering trends, opportunities, strategies, and more
The OEM Insulation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oem insulation market size, oem insulation market drivers and trends, oem insulation market major players and oem insulation market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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