OEM Insulation Materials Market: Inclination of Leading Players Towards R&D Activities to Bring More Revenues
seattle, WA -- (SBWire) -- 03/05/2020 --The term OEM stands for Original Equipment Manufacturer, which refers to an organization that manufactures a part or a subsystem that is used in another company's product. An insulating product is one that minimizes heat gain or loss by creating a blockage between the surfaces that are different in temperature. Various types of insulations are available in the market such as sprayed form, structural insulated panels, concrete, foam boards, reflective and fiber insulation. The major sector where OEM insulations are used is the industrial sector. The growing demand for insulation services for industrial as well as commercial applications has fuelled growth of the OEM insulation materials market across the world. The major end-user industries of OEM insulation are automotive, construction, aerospace, and consumer appliances among others.
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Key Players operating in the global OEM insulation market include Knauf Insulation, Johns Manville, Fomo Products Inc., Paroc Group, Owens Corning Insulating Systems LLC., Roxul Inc., Shanon Enterprises, Saint Gobin, ACH Foam Technologies, Armacell International and Rockwool International among others.
The use of OEM insulation in commercial and residential buildings has reduced the energy cost by around 10 to 20%. The various materials used for insulation are fiber glass, foamed plastics and mineral wool such as glass wool and stone wool. The most common type of material used for insulation in the construction industry is glass mineral wool. The automobile manufacturers are currently focused on enhancing the comfort and safety in vehicles, and insulation of automotive parts plays a major role in achieving this goal. Effective insulation helps in reducing heat transfer, sound transfer and fire risk in whichever application it is used.
Growing demand for insulation services in a wide scope of applications such as residential & commercial construction, automobiles and consumer appliances is a key factor driving growth of the global OEM insulation materials market. Growing investment by vehicle manufacturers in improving the safety features and comfort in vehicles is expected to fuel growth of the OEM insulation materials market. Besides, demand for OEM insulation is rapidly increasing in medical and electronic equipment manufacturing industries, which is expected to propel demand for OEM insulation. Furthermore, growing awareness among vehicle manufacturers regarding eco-friendly operations and sustainable development is resulting in an upsurge in production of OEM insulation, which is expected to drive growth of the global OEM insulation market over the forecast period.
OEM Insulation Materials Market Taxonomy:
Based on material type, the global OEM insulation market is segmented into:
- Mineral Wool
- Stone Wool
- Glass Wool
- Fiber Glass
- Foamed Plastic
- Polyurethane foam
- Extruded Polystyrene
- Expanded Polystyrene
- Phenolic Foam
- Melamine Foam
- Foamed Glass
- Closed Cell Elastomeric Foam
Based on end-use industry, the global OEM insulation market is segmented into:
- Consumer Appliances
- Aerospace & Spacecraft
- Building and Construction
- Power & Energy
- Oil & Gas
- Food Processing
Based on insulation type, the global OEM insulation market is segmented into:
- Rolls and Batts
- Loose Fill
OEM Insulation Market Outlook - Asia Pacific is expected to be the most lucrative region for key players operating in the global OEM insulation materials market
The regional segmentation for global OEM insulation market includes North America, Europe, Latin America, Asia Pacific, Middle East and Rest of the Africa. Asia Pacific holds a dominant position in the global OEM insulation market owing to increase in construction of commercial and domestic buildings which require insulation materials. Rising awareness about the advantages of OEM insulation materials such as obtaining an energy efficient building, rise in energy prices and booming construction activities in countries such as India and China are the main drivers for the growing OEM insulation materials market in Asia Pacific. The booming automotive industry in India is also a major factor contributing to the growth of the Asia Pacific OEM insulation materials market.
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