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Share on favorites More Sha ring ServicesMore Industrial Thermal Insulation - Global Strategic Business Report Global Industry Analysts, Inc, Oct 2011, Pages: 421

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The recent economic slowdown, which sent ripples of unrest in most of the indust ry segments, not surprisingly left the global industrial thermal insulation mark et in a state of bother during 2008 and 2009. The financial crisis led world eco nomic recession crippled vital industries across the globe, such as, manufacturi ng, construction, industrial, chemicals, petrochemicals, automotive, oil and gas , consumer goods, and energy generation, among others. All of these industries r eeled under the pressure exerted by the recession manifested in the form of fall in the business confidence index, bleeding corporate balance sheets, enterprise skepticism over infrastructure/capital investments, tight liquidity/financial c onstraints, diminished manufacturing and commercial activity, weakness in new co

nstruction and renovation/remodeling projects, rising levels of unemployment, lo wer demand for automotive, industrial & consumer products and reduced energy con sumption as a result of decline in demand from major energy-consuming sectors su ch as manufacturing, automobiles and construction industries, among numerous oth ers. Demand for thermal insulation as a result, declined across all product sect ors including fibrous and cellular industrial thermal insulation. The industry w itnessed order cancellations, cut in inventories by customers and lower demand f rom economically sensitive end user segments such as automotive and consumer goo ds industry. Projects cancellations in the energy sector, which forms another pr ominent end user segment for the industry, also impacted the growth prospects of industrial thermal insulation market. With recession exerting extreme pressure on the market, a tilt in the demand towards low cost alternatives within product mixes was observed, which negatively impacted the profit margins of manufacture rs. Following the temporary decline, the global industrial thermal insulation market bounced back in the year 2010 and is expected to experience healthy growth in t he upcoming years. Growth in the market over the next few years will be especial ly driven by continued rise in energy prices and the need to control heating and cooling costs, which account for major portion of the total energy expenditure in most of the industries using efficient thermal insulation products. Growing o pportunities from niche product segments are also expected to boost market oppor tunities for industrial thermal insulation market over the next few years. For i nstance, natural insulation products, which are extracted from renewable plant o r animal sources, require comparatively less amount of energy for extraction and production of the final product, and therefore are being highly pursued by indu stries worldwide. Soy-based foam insulation in particular is gaining greater mar ket acceptance in the US owing to its low cost and soft texture. Technological developments in the field of thermal insulation promises to introd uce several new insulation materials in the marketplace, thereby also helping at tract new opportunities for the market. New material alternatives for industrial thermal insulation such as straw panels, insulated panels, foam insulation, ins ulating masonry products, and a range of specialized devices will attract tremen dous opportunities for the market over the next few years. Insulation material p roviders in Europe are also experimenting with a wide range of materials such as flax fibers, wool, recycled jute and recycled newspaper, to generate more costeffective and efficient insulation options. Offering viable alternatives to conv entional fiberglass, mineral wool and cellulose insulation, such material and in sulation technologies are gaining acceptance for niche applications. The thermal insulation market will also be driven by replacement and improvement applicatio ns, as industries look to refurbish their existing plants applying efficient the rmal insulation technologies for optimal energy efficiency. As stated by Global Industry Analysts's market research report on Industrial The rmal Insulation, the United States represents the largest regional market for in dustrial thermal insulation worldwide. Asia-Pacific is the fastest growing regio nal market, with dollar sales from the region projected to wax at a CAGR of abou t 4.6 % over the analysis period. The market is expected to benefit from the urb anization trend being witnessed in emerging markets such as China and India. Sur ge in infrastructure investments in these countries are also expected to create market climate conducive for future growth of insulation products in the region. Cellular thermal insulation represents the fastest growing independent market s egment by material type, with dollar sales waxing at a CAGR of about 3.7% over t he analysis period. Global Industry Analyst