The MEA thermal insulation market is expected to grow from US$ 2,167.53 million in 2022 to US$ 2,704.63 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2022 to 2028.
The aerospace industry is growing significantly with the rising activities from both the defense and civil aviation sectors. With an increasing demand for large aircraft from emerging economies, and a focus on Powered by Hour Contracts (PBH), many aerospace services and manufacturing activities are expected to be carried out over the coming years. The emerging demand for thermal insulating materials is linked to the expansion of the aerospace industry with advantages such as lower noise and vibration levels during flying hours. The rising usage of composites in commercial aircraft will promote the development of different aerostructures, resulting in significant aerospace industry potential. The growing demand for lightweight insulating materials, combined with the high demand for composite materials from the General Aviation (GA) and business jet industries to reduce cabin noise, is likely to boost the thermal insulation market growth. The enhanced user safety due to the minimal thermal conductivity of materials and growing demand for energy-efficiency boosting products across the region is expected to propel the growth of the market. Additionally, increasing commercial aircraft deliveries, passenger traffic, and adoption of low-cost composite materials is expected to fuel the market growth. The high demand for air transport, declining cost of composite materials, and surging industrialization are also projected to boost the market growth.
Expansion of Aerospace Industry in Emerging Economies
The aerospace industry is growing significantly with the rising activities from both the defense and civil aviation sectors. With an increasing demand for large aircraft from emerging economies, and a focus on Powered by Hour Contracts (PBH), many aerospace services and manufacturing activities are expected to be carried out over the coming years. The emerging demand for thermal insulating materials is linked to the expansion of the aerospace industry with advantages such as lower noise and vibration levels during flying hours. The rising usage of composites in commercial aircraft will promote the development of different aerostructures, resulting in significant aerospace industry potential. The growing demand for lightweight insulating materials, combined with the high demand for composite materials from the General Aviation (GA) and business jet industries to reduce cabin noise, is likely to boost the thermal insulation market growth. The enhanced user safety due to the minimal thermal conductivity of materials and growing demand for energy-efficiency boosting products across the region is expected to propel the growth of the market. Additionally, increasing commercial aircraft deliveries, passenger traffic, and adoption of low-cost composite materials is expected to fuel the market growth. The high demand for air transport, declining cost of composite materials, and surging industrialization are also projected to boost the market growth.
Market Overview
The thermal insulation market in the Middle East and Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. The rural-to-urban mitigation in the developing countries of the MEA will stimulate building activity in urban areas, which has led to an increased demand for thermal insulation in residential buildings. Further, increased government regulations about the installation of thermal insulation in buildings are driving the growth of the thermal insulation market in the region. For instance, Eskom'ss, South Africa'ss electric public utility, developed a demand side management (DSM) plan to reduce the growth in the country'ss electricity demands. The DSM plan is aimed at managing the residential energy load and encouraging people to use energy-efficient equipment. The installation of thermal insulation will reduce the energy required for electrical heating or cooling, thus supporting Eskom'ss DSM. According to General Authority for Statistics (GASTAT), over 35% of the houses in Saudi Arabia have thermal insulation. The Saudi Energy Efficiency Center in 2022 urged citizens to ensure thermal insulation of buildings to save energy. Thermal insulation for buildings is compulsory in Saudi Arabia. The initiatives are aimed at cutting energy costs in the cities, which house 80% of the country'ss population. The center stated that the use of thermal insulation materials could cut the electrical energy consumption of air conditioning and heating devices by 30-40%. Thus, the growing initiatives and regulations regarding energy-efficient buildings are driving the demand for thermal insulation across the region. Moreover, the large number of oil refineries present in the Middle East is having a positive impact on the thermal insulation market. In the Middle East, 13 countries have active refineries, with a total refining capacity of 12,145 million barrels per day (mbd) in 2021. Ruwais, Ras Tanura, Bandar Abbas II, Jubail II, and Mina Abdullah are a few of the largest active refineries. By 2026, 18 new refineries are expected to commence operations in the Middle East. Al-Zour, Kuwait; Siraf, Iran; Bandar Jask, Iran; and Duqm I, Oman, are a few of the largest upcoming refineries in the Middle East from 2022 to 2026. Thus, the growing oil & gas industry is providing growth opportunities for the thermal insulation market in the MEA. region.MEA Thermal Insulation Market Segmentation
The MEA thermal insulation market is segmented based on material type, industry vertical, and country.- Based on material type, the MEA thermal insulation market is segmented into fiber glass, plastic foam, stone wool, calcium silicate, cellular glass, and others. The fiber glass segment held the largest share of the market in 2022.
- Based on industry vertical, the MEA thermal insulation market is segmented into building and construction, oil and gas, chemical, aerospace and defense, automotive, pharmaceutical, and others. The building and construction segment held the largest share of the market in 2022.
- Based on country, the MEA thermal insulation market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. The Rest of MEA dominated the market in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. MEA Thermal Insulation Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Expert Opinion
5. MEA Thermal Insulation Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in demand for lightweight thermal insulation
5.1.2 Growth in the building and construction industry
5.2 Market Restraints
5.2.1 High cost of installing thermal insulation
5.3 Market Opportunities
5.3.1 Expansion of aerospace industry in emerging economies
5.4 Future Trends
5.4.1 Increasing demand for high-temperature thermal insulation
5.5 Impact Analysis of Drivers and Restraint
6. Thermal Insulation Market - MEA Analysis
6.1 MEA Thermal Insulation Market -Revenue and Forecast to 2028
7. MEA Thermal Insulation Market Analysis - By Material Type
7.1 Overview
7.2 MEA Thermal Insulation Market, By Material Type (2021 and 2028)
7.3 Fiber Glass
7.3.1 Overview
7.3.2 Fiber Glass: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Plastic Foam
7.4.1 Overview
7.4.2 Plastic Foam: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Stone Wool:
7.5.1 Overview
7.5.2 Stone Wool: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.6 Calcium Silicate:
7.6.1 Overview
7.6.2 Calcium Silicate: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.7 Cellular Glass:
7.7.1 Overview
7.7.2 Cellular Glass: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
7.8 Others:
7.8.1 Overview
7.8.2 Others: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8. MEA Thermal Insulation Market Analysis - By Industry Vertical
8.1 Overview
8.2 MEA Thermal Insulation Market, By Industry Vertical (2021 and 2028)
8.3 Building and Construction
8.3.1 Overview
8.3.2 Building and Construction: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Oil and Gas
8.4.1 Overview
8.4.2 Oil and Gas: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Chemical
8.5.1 Overview
8.5.2 Chemical: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Aerospace and Defense
8.6.1 Overview
8.6.2 Aerospace and Defense: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Automotive
8.7.1 Overview
8.7.2 Automotive: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.8 Pharmaceutical
8.8.1 Overview
8.8.2 Pharmaceutical: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Mn)
9. MEA Thermal Insulation Market - Country Analysis
9.1 Overview
9.1.1 MEA: Thermal Insulation Market, by Key Country
9.1.1.1 South Africa: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: Thermal Insulation Market, by Material Type
9.1.1.1.2 South Africa: Thermal Insulation Market, by Industry Vertical
9.1.1.2 Saudi Arabia: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Saudi Arabia: Thermal Insulation Market, by Material Type
9.1.1.2.2 Saudi Arabia: Thermal Insulation Market, by Industry Vertical
9.1.1.3 UAE: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 UAE: Thermal Insulation Market, by Material Type
9.1.1.3.2 UAE: Thermal Insulation Market, by Industry Vertical
9.1.1.4 Rest of the MEA: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Rest of the MEA: Thermal Insulation Market, by Material Type
9.1.1.4.2 Rest of the MEA: Thermal Insulation Market, by Industry Vertical
10. Industry Landscape
10.1 Overview
10.2 Merger and Acquisitions
10.3 Product News
10.4 Expansion
11. Company Profile
11.1 BASF SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Bayer AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 ROCKWOOL A/S
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Johns Manville
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Saint Gobain S.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Kingspan Group PLC
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Dow Chemicals Company
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Owens Corning
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Asahi Kasei Corporation
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 DuPont
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Glossary of Terms
List of Tables
Table 1. MEA Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA Thermal Insulation Market, by Country - Revenue and Forecast to 2028 (USD Million)
Table 3. South Africa Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 4. South Africa Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 5. Saudi Arabia Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 6. Saudi Arabia Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 7. UAE Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 8. UAE Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 9. Rest of MEA Thermal Insulation Market, by Material Type - Revenue and Forecast to 2028 (USD Million)
Table 10. Rest of MEA Thermal Insulation Market, by Industry Vertical - Revenue and Forecast to 2028 (USD Million)
Table 11. Glossary of Terms
List of Figures
Figure 1. MEA Thermal Insulation Market Segmentation
Figure 2. MEA Thermal Insulation Market Segmentation - By Country
Figure 3. MEA Thermal Insulation Market Overview
Figure 4. MEA Thermal Insulation Market, By Material Type
Figure 5. MEA Thermal Insulation Market, By Country
Figure 6. MEA: PEST Analysis
Figure 7. Expert Opinion
Figure 8. MEA Thermal Insulation Market Impact Analysis of Drivers and Restraints
Figure 9. MEA: Thermal Insulation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. MEA Thermal Insulation Market Revenue Share, By Material Type (2021 and 2028)
Figure 11. MEA Fiber Glass: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 12. MEA Plastic Foam: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 13. MEA Stone Wool: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 14. MEA Calcium Silicate: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 15. MEA Cellular Glass: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 16. MEA Others: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 17. MEA Thermal Insulation Market Revenue Share, By Industry Vertical (2021 and 2028)
Figure 18. MEA Building and Construction: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 19. MEA Oil and Gas: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 20. MEA Chemical: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 21. MEA Aerospace and Defense: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 22. MEA Automotive: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 23. MEA Pharmaceutical: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 24. MEA Others: Thermal Insulation Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 25. MEA: Thermal Insulation Market, by Key Country - Revenue (2021) (US$ ‘Million)
Figure 26. MEA: Thermal Insulation Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. South Africa: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Figure 28. Saudi Arabia: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Figure 29. UAE: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of the MEA: Thermal Insulation Market -Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- Asahi Kasei Corporation
- BASF SE
- Bayer AG
- Dow Chemicals Company
- DuPont
- Johns Manville
- Kingspan Group PLC
- Owens Corning
- ROCKWOOL A/S
- Saint Gobain S.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 132 |
| Published | December 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2167.53 Million |
| Forecasted Market Value ( USD | $ 2704.63 Million |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 10 |
