Rising demand for productive electricity and energy usage across developed economies is expected to fuel demand for technical insulation due to increasing industrialization and urbanization processes across the countries. Strict legislation relating to the usage of insulating forms are likely to stimulate business development. Furthermore, mechanical insulation is an important tool, and is widely used in manufacturing processes to insulate pipes and machinery. In addition to this, the approach does not require high costs which is a significant factor in supporting its use through diverse applications.
At a compound annual growth rate of 3.6%, the size of the worldwide Technical Insulation market is projected to reach USD 9968.2 million in 2028.
.jpg "The Global Technical Insulation Market 2018-2028 (USD Million)")
The prevalence of strict legislation on machinery and pipes insulation and rising competition in the oil & gas sector propel the need for technical insulation. Professional insulation has been generally adopted in numerous sectors, such as industrial & OEM, oil, transport, and commercial buildings. It is anticipated that the existence of strict regulations for the use of the insulating materials in various industrial applications would boost the growth of the relevant industries, thus rising the growth of the market for technological insulation.
Increased infrastructure investment is expected to encourage the product development over the projected period in emerging economies such as China, India, Indonesia and South Korea. Furthermore, rapid industrialization across the globe is expected to further drive market development over the coming years.
Technical Insulation Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 9968.2 million |
| Growth Rate | CAGR of 3.6 % during 2018-2028 |
| Segment Covered | by Type, by Product Type, by Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Armacell International S.A., Aspen Aerogels, Inc., Etex, Kingspan Group PLC, Knauf Insulation, L'isolante K-Flex S.P.A., Morgan Advanced Materials PLC, Owens Corning,, Rockwool International A/S, Saint-Gobain Isover |
Key Segments of the Global Technical Insulation Market
Product Type Overview (USD Million)
- Flexible Foam
- Rigid Foam
- Man-made Mineral Fiber
Application Overview (USD Million)
- Heating & Plumbing
- HVAC
- Refrigeration
- Industrial Processes
- Acoustic
End Use Overview, (USD Million)
- Industrial & OEM
- Energy
- Transportation
- Commercial Buildings
Regional Overview, (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global technical insulation market.
- Industry developments over the recent years in the technical insulation sector.
- Market competitiveness, trends, and product related innovations by existing key players.
What does the report include?
- The study on the global technical insulation market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the technical insulation industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and end use. Moreover, the study provides similar information for the key geographies.
- Actual market size and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global technical insulation market. The report will benefit: Every stakeholder involved in the technical insulation market.
- Managers within the technical insulation industry looking to publish recent and forecasted statistics about the global technical insulation market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global technical insulation market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The market size of technical insulation market is expected to be USD 9968.2 million through the forecast period 2022-2028.
The technical insulation market in the foreseeable future is expected to grow at a CAGR of 3.6 %.
Heating & Plumbing, HVAC, Refrigeration, Industrial Process, Acoustic are some applications of technical insulation market.
Rigid foam technical insulation is expected to drive the technical insulation market.
Armacell International S.A., Aspen Aerogels, Inc., Etex, Kingspan Group PLC, Knauf Insulation, L'isolante K-Flex S.P.A., Morgan Advanced Materials PLC, Owens Corning,, Rockwool International A/S, Saint-Gobain Isover
Commercial sector development is anticipated to stimulate demand for products of pipes and machinery which is expected to support industry growth. Moreover, demand for acoustic insulation in commercial buildings is expected over the forecast timeframe to further drive market growth for technical products of insulation. The demand in the U.S. was priced at USD 974.9 million in 2019 and from 2020 to 2028 is expected to experience a CAGR of 2.3 per cent. The rising developments and expansion of the commercial and manufacturing industries has driven the demand fpr the products over the coming years. Moreover, the increasing demand for HVAC systems, heating, refrigeration and plumbing systems, is anticipated to fuel the growth in sales for technical products for insulation. However, the prediction is that high costs of raw materials would have a detrimental effect on demand development. Furthermore, low understanding of the advantages of insulation products is likely to hinder market development over the projected years. Furthermore, it is expected that shortage of qualified labor for the construction would hinder demand growth for technical insulating products.
Product Segment
Based on the product type, the market is segmented into flexible foam, rigid foam, and man-made mineral fiber. Man-made mineral fiber can be further divided into stone wool, cellular glass, fiberglass, calcium silicate, aerogel, vacuum insulated panels and microporous insulation. The man-made mineral fiber type leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. The man-made mineral fibers are used in fire resistance pipes at a high temperature of 620°C. They are extremely resistant to strain and can fit well in the segment of the tubing. They tend to hold the hot and cold pipes at appropriate temperatures. They also succeed in managing condensation. They are also noise dampener and are also used in the sound amplification systems.
Application Segment
In terms of the application segment, the market is segmented into heating & plumbing, HVAC, refrigeration, industrial processes and acoustic. In 2019, the heating & plumbing segment accumulated the major market share of more than 35% and is expected to continue the trend over the forecast years. The growing usage of insulated pipes and appliances for commercial uses to prevent heat loss is expected to result in increased demand for technical insulation in the plumbing and heating applications. Rising usage of HVAC systems in the commercial sector is anticipated to push the segment due to the increasing focus on energy quality. Growing demand for soundproofing in commercial buildings is expected to accelerate the segment's growth over the forecast period to prevent the propagation of sound. Also, the growing number of office spaces, malls, retail stores, and others across the globe are expected to stimulate demand for acoustic insulation, thereby increasing the demand in the global industry.
End Use Segment
In terms of the end use segment, the market is segmented into industrial & OEM, energy, transportation, and commercial buildings. In 2019, the industrial & OEM segment accumulated the major growth rate and is expected to continue the trend over the forecast years. The rising plant output over the manufacturing industries, has pushed the demand with the need to save electricity in industrial plants. The other properties of insulating materials needed for technological insulation are low thermal conductivity, low water absorption, and efficient noise control corrosion resistance. Such aspects are responsible for the rise in sales across the industrial segment within the demand for technical insulation. Functional insulation is an excellent option for industrial and OEM end-use because it provides a broad variety of material options for several applications for high and low temperatures. Expansion of the manufacturing sector in developing economies is expected to fuel demand for end products in economies like China, India, and Brazil as a consequence of growing foreign investments.
The Asia Pacific region dominated the overall market with a share of more than 34% in 2019 and it is projected to keep its position during the forecast years 2018-2028. The factors such as demographic growth and increasing urbanization throughout the country are expected to boost market development over the coming years. Moreover, the growing foreign investment in the region is expected to boost the demand for products across the Asia Pacific region. The abundant supply of raw materials along with its lower-cost in the economies including China, Indonesia, South Korea and India is projected to boost the sales of the industrial and commercial sectors in Asia Pacific. This is expected to boost demand for technical insulation and thus drive market growth over the coming years. The rising industrial and OEM facilities in Europe will boost demand for heating and plumbing systems, acoustic insulation, refrigeration and HVAC. Furthermore, strict regulations relating to the type of insulation and its use across the manufacturing industries in the region are projected to further increase the market growth.
The major players of the global technical insulation market are Zotefoams Plc, Kingspan Group Plc, Owens Corning, ETEX Group SA, Rockwool International A/S. Moreover, the market comprises several other prominent players in the technical insulation market as Recticel NV/SA, Armacell International S.A., Morgan Advanced Materials plc, Saint-Gobain ISOVER, Aspen Aerogels, Inc., L’ISOLANTE K-FLEX S.P.A., Knauf Insulation, Johns Manville. The technical insulation market consists of well-established global as well as local players. Also, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.