Middle East & Africa Industrial Insulation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Raw Material (Wool, Foams, Fibres, and Others), Product (Pipe, Board, Blanket, and Others), and End User (Power Generation, Chemical and Petroc

Middle East & Africa Industrial Insulation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Raw Material (Wool, Foams, Fibres, and Others), Product (Pipe, Board, Blanket, and Others), and End User (Power Generation, Chemical and Petrochemical, Cement, Food and Beverage, and Others)

The MEA industrial insulation market is expected to grow from US$ 636.00 million in 2022 to US$ 778.50 million by 2028. It is estimated to grow at a CAGR of 3.4% from 2022 to 2028.

Increased Infrastructural Spending in Emerging Economies

With increase construction activities across the region, the demand for industrial insulation is increasing, industrial insulation in infrastructures help in protection from heat, fire, and corrosion. Industrial Insulation products when used in buildings deliver superior performance, which includes air sealing, moisture control, and thermal insulation. In commercial buildings saving on energy and operating costs is crucial, and foam insulation is widely used in infrastructures it is efficient and economical. Industrial facilities and commercial buildings have unique needs when compared to single family or multi-unit residences. These large buildings have energy and utility demands and all of them can affect economic viability of building, in this case industrial insulation helps in reducing operating costs. Infrastructure spending is growing significantly over the coming decade. Development of megacities is shifting economic and demographic trends which will create enormous need for new infrastructure. Increasing focus on inclusive and sustainable industrialization with innovative infrastructure is unleashing dynamic and competitive opportunities for industrial insulation. Further, infrastructural development in economies is expected to boost the industrial activities, and this has surged the consumption of industrial insulation. An increase in spending and industrial activities are thus expected to provide major opportunities for the growth of industrial insulation market across the region.

Market Overview

The MEA industrial insulation market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in the region is driven by increasing demand for industrial insulation products from various sectors, including power generation and chemical & petrochemical. According to the findings of DNV GL’s Energy Transition Outlook 2018, electricity demand in Middle East will triple by 2050, accelerating the growth of renewable energy and triggering the diversification of economies away from fossil fuels. According to the same report, primary energy consumption will continue to grow moderately, and this growth will be driven by manufacturing, buildings, and transport. Thus, the increasing power requirements of the region are expected to propel the demand for industrial insulation products in the coming years. Further, the MEA will remain a major focus of petrochemicals development.

MEA Industrial Insulation Market Revenue and Forecast to 2028 (US$ Million)

MEA Industrial Insulation Market Segmentation

The MEA industrial insulation market is segmented based on raw material, product, end user, and country.

Based on raw material, the MEA industrial insulation market is segmented into wool, foams, fibres, and others. The foams segment held the largest market share in 2022. Based on product, the MEA industrial insulation market is segmented into pipe, board, blanket, and others. The pipe segment held the largest market share in 2022. Based on end user, the MEA industrial insulation market is segmented into power generation, chemical and petrochemical, cement, food and beverage, and others. The power generation segment held the largest market share in 2022. Based on country, the MEA industrial insulation market has been categorized into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia dominated the market share in 2022. Aspen Aerogels Inc., Cabot Corporation, Johns Manville, Kingspan Group, Knauf Insulation, ROCKWOOL A/S, and Saint Gobain S.A. are the leading companies operating in the MEA industrial insulation market.

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