Chan Ye Xin Xi Wang·2025-06-29 01:25Core Viewpoint - The insulation and heat preservation materials industry is a crucial part of the national economy, aligning with the trends of green energy efficiency and low carbon development. The market size is expected to decline in 2024 but shows potential for recovery in 2025 due to industrialization and increased efficiency in construction processes [1][5][22]. Industry Definition and Classification - Insulation materials are defined as materials used to resist heat flow, including both insulation and cooling materials. They are applicable in various sectors such as thermal equipment, pipelines, and buildings [2][3]. Industry Development Status - The market size for new insulation materials in China grew from 752.1 billion yuan in 2016 to 1657.1 billion yuan in 2021, but is projected to decrease to 1270.7 billion yuan in 2024, with a slight recovery to approximately 1289.2 billion yuan in 2025 [6][7]. The urbanization rate in China has increased from 17.9% in 1978 to 67% in 2024, indicating further growth potential for the insulation materials market [5]. Industry Chain - The industry chain includes upstream raw materials such as basalt and polystyrene, midstream manufacturing of insulation materials, and downstream applications in building energy efficiency, industrial pipelines, and emerging sectors like cold chain logistics [9]. Competitive Landscape - The insulation materials industry in China is characterized by numerous small-scale manufacturers, with leading companies having a competitive edge due to their established technology and market presence. Major players include Hunan Wujian Light Chemical Group, Fujian Sait New Materials, and Shandong Luyang Energy-Saving Materials [15][16]. Key Enterprises - Key companies in the insulation materials sector include: - Fujian Sait New Materials Co., Ltd.: A leading manufacturer of vacuum insulation materials, with a revenue of 9.15 billion yuan from vacuum insulation boards in 2024 [18]. - Shandong Luyang Energy-Saving Materials Co., Ltd.: The largest producer of ceramic fiber products in China, with a production capacity of 590,000 tons annually [20]. Industry Development Trends - The insulation materials industry is expected to evolve towards industrialization, with advancements in technology and a focus on green and intelligent construction materials. The sector is crucial for energy conservation in buildings, with significant progress in related technologies [22].