The Business Research Company’s report on the Technical Insulation Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the technical insulation market in recent years?
Rapid industrialization is significantly contributing to the growth of the technical insulation market. Technical insulation is used in various industries to inhibit the loss of heat and electricity. Major end-user industries for technical insulation include heating and plumbing systems; HVAC systems; refrigeration; industrial pipes; and electric utilities. Growth in these end-user industries is driving the global technical insulation market. For instance, in July 2023, according to Eurostat, a UK-based government statistical agency, industrial output in the European area witnessed a 0.2% increase. Moreover, a 0.1% increase was reported in the European Union during the period between May and April 2023. Therefore, rapid industrialization will drive the growth of the technical insulation market.
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What is the projected market size of the technical insulation industry, and how is it expected to grow?
The technical insulation market size has grown strongly in recent years. It will grow from $7.5 billion in 2024 to $8 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to energy efficiency regulations, hvac systems expansion, petrochemical industry growth, infrastructure development, industrialization and urbanization.
The technical insulation market size is expected to see strong growth in the next few years. It will grow to $9.8 billion in 2029 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to aging infrastructure replacement, renewable energy investments, energy prices volatility, sustainability and esg initiatives, industrial automation. Major trends in the forecast period include smart insulation solutions, hvac system efficiency, fire-resistant insulation, digital design and simulation, green building materials.
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Who are the key players driving competition in the technical insulation market?
Major companies operating in the technical insulation market include Zotefoams plc, Unifrax I LLC, Saint-Gobain SA, Rockwool International A/S, Recticel NV, Palziv Inc., Owens Corning Fiberglass Company, NMC SA, Morgan Advanced Materials plc, L’isolante K – Flex S.P.A., Knauf Insulation Ltd., Kingspan Group plc, Johns Manville Corp., Aspen Aerogels Inc., Armacell International S.A., DowDuPont Inc., Evonik Industries AG, Covestro AG, Solvay SA, Eastman Chemical Co., Beijing New Building Material (Group) Co. Ltd., Clariant AG, Arkema SA, Owens Corning Corporation, Rockwool International, BASF SE, GAF Materials Corporation, Huntsman Corporation, Cabot Corporation, Saint-Gobain Isover, Unifrax I LLC, Uralita SA, Wacker Chemie AG, Xtratherm Limited, Zhejiang Jiahe Insulation Material Co. Ltd., Icynene Inc., Lapolla Industries Inc., NCFI Polyurethanes, PPG Industries Inc., Rmax Operating LLC
What key trends are expected to drive the technical illustration software market during the forecast period?
New product launches by companies are a key trend gaining popularity in the technical insulation market. Companies are launching new, innovative technical insulation products to improve their product portfolio and cater to fast-growing markets. For instance, in June 2022, Isover, a France -based manufacturing of insulation materials, launched QTech the light mineral wool for medium temperature industrial applications QTech is a proprietary technology developed for optimizing and enhancing the performance of various industrial processes, particularly in the fields of materials and coatings.
Which key geographies are driving the growth of the technical insulation market?
Asia-Pacific was the largest region in the technical insulation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the technical insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the technical insulation market?
The technical insulation market covered in this report is segmented –
1) By Product: Flexible Foam, Rigid Foam, Man-made Mineral Fiber
2) By Application: Heating & Plumbing, HVAC, Refrigeration, Industrial Processes
3) By End User: Industrial & OEM, Energy, Transportation, Commercial Buildings
Subsegments:
1) By Flexible Foam: Polyurethane Foam, Polyethylene Foam, Elastomeric Foam, Other Flexible Foam Types
2) By Rigid Foam: Polyurethane Rigid Foam, Polystyrene Rigid Foam (EPS, XPS), Phenolic Rigid Foam, Other Rigid Foam Types
3) By Man-Made Mineral Fiber (MMMF): Rock Wool, Glass Wool, Slag Wool, Other Mineral Fiber Types
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How is the technical insulation market defined?
Technical insulation includes products that are specially used for various industrial purposes, such as to inhibit heat, fire, and electricity, as well as sound transmission in or out of the materials. It provides a cost-effective way to protect industrial equipment and systems.
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