Thin Insulation Market Analysis
Thin Insulation Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Insulation materials are generally thick in size to provide better insulation. However, in some cases the available space for application of insulation material is limited. In such cases, thin insulation materials are utilized. Insulation materials can be made in different sizes and forms. Materials such as plastic, metals, fiberglass, aerogels, silica, and others are exclusively utilized to manufacture thin insulation materials. The thickness of these thin insulation materials is not greater than 20 mm. Thin insulation is applied in various industries including automobile, construction, and others. Thin insulation materials provide insulation from heat, noise, current, and other factors as well as takes up very little place as compared to other thick insulation materials.
Global Thin Insulation Market Taxonomy
The global Thin Insulation market is classified on the basis of the following segments:
Prevalent Scenario in Thin Insulation Market
Increasing industrial activities and industrial applications are driving the demand for thin insulation across the globe. Increasing demand for durable and compact products is also expected to boost the demand for these thin insulation materials. End user industries such as automobile and buildings and construction utilize thin insulation materials in a large scale. Buildings use thin insulation materials for thermal insulation from outside forces. In automotive industry, thin insulation assists in heat and noise insulation. Thin insulation also contributes in improving braking performance of the vehicle. These factors are driving the demand for thin insulation materials in these industries. Oil & gas industry also utilized tin insulation material in various machinery and equipment. Currently, Asia Pacific is the leading market for thin insulation. Countries such as China, India, Malaysia, Thailand, Japan, and Taiwan among others drive thin insulation market in this region. China is the dominant player in this market not only in Asia pacific but also globally. The demand for thin insulation in China is growing due to increasing industrial production and specialized equipment and machinery production. In Europe, thin insulation market is dominated by Germany and France among others. Germany is one of the leading markets for thin insulation owing to presence of major automobile manufacturers in the country. Other high-end industries in the country also contribute to drive the demand for thin insulation in Germany.
Future Outlook of Thin Insulation Market
North America has limited share of the global thin insulation market. However, North America is expected to generate huge demand for thin insulation during the forecast period owing to growing demand in shale gas equipment, hydraulic fracturing equipment, and other high-end industries. In Asia Pacific, India is expected to create bog opportunities for market owing to increasing demand from automotive and construction industry. China is expected to remain the leading market for thin insulation during the forecast period. Other countries in Asia Pacific such as Malaysia, Thailand, South Korea, and Taiwan with large scale industrial output are also expected to drive the demand for thin insulation in the region during the forecast period. Middle East & Africa has witnessed steady rise in industrial activities. Increasing activities in the oil & gas industry in the region are expected to drive the demand for thin insulation during the forecast period. Latin America is also expected to witness increase in demand for thin insulation owing to increasing production in automobile and construction industries.
Market Driven By R&D
The global thin insulation market is driven by research and development and new product development by leading companies. Companies are implementing various strategies to introduce new products with better insulation and less thickness. Companies are striving to bring in new materials for thin insulation. Some of the major companies operating in the global thin insulation industry include Cabot Corporation, Armacell International S.A., Owens Corning, Dow Chemical Company, Johns Manville, 3M Company, Kingspan Insulation, Actis Insulation Ltd., ContiTech AG, Xtratherm, BASF Polyurethanes GmbH., Celotax Saint Gobain, Rockwool Group, BNZ Materials, Inc., and Huntsman Corporation among others.