Analysis of the Global OEM Insulation Materials Market in terms of Market Dynamics in Historic and Forecast Period
The term OEM stands for Original Equipment Manufacturer, which refers to an organization that manufactures a part or a subsystem that is used by another company product. An insulating product is one that minimizes heat gain or loss by creating a blockage between the surfaces that are different in temperature. There are various types of insulation 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 in wide scope of applications in industrial as well as commercial sector has fuelled market growth OEM insulation across the world. The major end-user industries of OEM insulation are automotive, construction, aerospace, and consumer appliances among others.
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The use of OEM insulation in commercial and residential buildings reduces the energy cost by around 10% to 20%. The various materials used for the purpose of 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 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 the key factor driving growth of the global OEM insulation materials market. Rapid growth in the global automotive industry during the forecast period is expected to fuel growth of the OEM insulation market owing to the growing investments by vehicle manufacturers in improving the safety features and comfort level in the vehicles. Besides, the demand for OEM insulation is rapidly increasing in medical and electronic equipment manufacturing industries, which is expected to propel the consumption of OEM insulation. Furthermore, the growing awareness amongst vehicle manufacturers regarding eco-friendly operations and sustainable development is resulting in an upsurge of OEM insulation in industrial sector, which is expected to drive the growth of the global OEM insulation market over the forecast period.
OEM Insulation Market Outlook – Asia Pacific is expected to be the most lucrative region for the 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 a vast demand for commercial and domestic buildings which require insulation materials for its construction purposes. The 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. Booming automotive industry in India is also a major contributor to the growth of OEM insulation market in Asia Pacific.
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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 various others.
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