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Technical Insulation Market - By Product Type (Rigid Foam, Flexible Foam, Man-made Mineral Fiber), By Application (HVAC Systems, Heating & Plumbing, Acoustic, Refrigeration), By End-use & Forecast, 2023 – 2032

  • Report ID: GMI6700
  • Published Date: Sep 2023
  • Report Format: PDF

Technical Insulation Industry Analysis

Technical Insulation Market size was valued at around over USD 8 Billion in 2022 and is anticipated to grow at a CAGR of 4.7% between 2023 and 2032. Stringent building energy codes and regulations push for improved insulation to enhance energy efficiency in buildings. Certifications like LEED and BREEAM promote energy-efficient materials, including technical insulation.
 

Technical Insulation Market

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Effective insulation reduces heat loss or gain, leading to lower heating and cooling costs for buildings. Proper insulation helps decrease energy consumption, reducing greenhouse gas emissions associated with heating and cooling.
 

Many customers and industry professionals may not fully understand the benefits of technical insulation, leading to suboptimal adoption and usage. Building codes and regulations related to insulation can vary widely between regions and countries, creating complexity for manufacturers and installers. The initial investment in high-quality technical insulation materials and installation can be perceived as expensive. Thus, the risks associated with technical insulation may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

Many construction projects were halted or delayed due to lockdowns and restrictions, affecting the demand for technical insulation in new construction and renovation projects. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
 

Technical Insulation Market Trends

Increasing emphasis on energy efficiency in buildings and industrial processes continues to drive demand for technical insulation solutions that help reduce energy consumption. Green building certifications such as LEED and BREEAM drive the adoption of sustainable insulation materials and systems that contribute to overall building sustainability. Stringent building codes and energy regulations globally are encouraging the use of insulation materials to meet thermal performance requirements.

 

Technical Insulation Product Type Segmentation

Technical Insulation Market Size, By Product Type, 2021 - 2032 (USD Billion)

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Based on product type, the technical insulation market is segmented as rigid foam, flexible foam, man-made mineral fiber. Rigid foam held a majority market value of over USD 3.5 Billion in 2022. Rigid foam insulation provides a seamless barrier that minimizes air leakage and thermal bridging, driving demand for energy-efficient building envelopes.
 

Technical Insulation Application Segmentation

Technical Insulation Market Revenue Share, By Application, (2022)

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Based on application, the technical insulation market is segmented as HVAC Systems, Heating & Plumbing, Acoustic, Refrigeration, Others. HVAC Systems held a dominant market share of around 35% in 2022 and is expected to grow at a lucrative pace till 2032. Insulation on HVAC systems and ducts prevents energy loss during air distribution, optimizing heating and cooling efficiency.
 

Technical Insulation End-use Segmentation

Based on end-use, the technical insulation market is segmented as Oil and Gas, Transport, Energy, Commercial Buildings, Others. Oil and Gas held a dominant market share in 2022 and is anticipated to grow at over 30% CAGR through 2032. Technical insulation in oil and gas facilities conserves energy by preventing heat loss or gain in equipment and piping systems. Thus, the high-quality services and growing usage of technical insulation at oil and gas industries are anticipated to expedite the business expansion.
 

Technical Insulation Regional Analysis

U.S. Technical Insulation Market Size, 2020- 2032 (USD Billion)

U.S. dominated the North American region with majority market share and a revenue of USD 1.7 Billion in 2022. Stringent building codes and energy regulations push for improved insulation to enhance energy efficiency and reduce carbon emissions.
 

Technical Insulation Industry Leaders

Some of the major business players operating in the technical insulation market are Rockwool International A/S, Saint-Gobain, Knauf Insulation, Owens Corning, Armacell, Kingspan Group, Johns Manville, BASF SE, LIsolante K-Flex, Kaimann GmbH, Huntsman Corporation, Fletcher Insulation, Paroc Group, ThermaXX Jackets, Bauder Ltd. among others. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Technical Insulation Industry News:

  • Owens Corning unveiled FOAMULAR NGX (Next Generation Extruded), a new product line in August 2020. The proprietary blowing agent in this extruded polystyrene (XPS) foam products aims to deliver 90% reduction in global warming potential (GWP).
     

technical insulation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Product type

  • Rigid Foam
  • Flexible Foam
  • Man-made Mineral Fiber

By Application

  • HVAC Systems
  • Heating & Plumbing
  • Acoustic
  • Refrigeration
  • Others

By End-use

  • Oil and Gas
  • Transport
  • Energy
  • Commercial Buildings
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for technical insulation was valued at over USD 8 Billion in 2022 and is estimated to reach USD 12.5 Billion by the end of 2032, favored by the stringent building energy codes and regulations for improved insulation to enhance energy efficiency in buildings.

HVAC Systems held a dominant market share of around 35% in 2022 and is expected to grow at a lucrative pace through 2032 as insulation on HVAC systems and ducts prevents energy loss during air distribution, optimizing heating and cooling efficiency.

U.S. technical insulation industry was worth USD 1.7 Billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032, backed by the stringent building codes and energy regulations in the region.

Rockwool International A/S, Saint-Gobain, Knauf Insulation, Owens Corning, Armacell, Kingspan Group, Johns Manville, BASF SE, LIsolante K-Flex, Kaimann GmbH, Huntsman Corporation, Fletcher Insulation, Paroc Group, ThermaXX Jackets, Bauder Ltd. among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 191
  • Countries covered: 21
  • Pages: 150
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