Global Technical Insulation Market is Segmented By Type (Man-made Mineral Fiber, Flexible Foam, Rigid Foam), By Application (Heating & Plumbing, HVAC, Industrial Processes, Acoustic, Refrigeration), By End-User (Industrial & OEM, Energy, Transportation, Commercial Buildings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Technical Insulation Market Overview
The Global "Technical Insulation Market" is estimated to reach at a CAGR during the forecast period (2024-2031).
Technical insulations are in great demand across various industrial, marine and offshore sectors. Technical insulation is a cost-effective way to protect buildings, systems, structures and most importantly, people from thermal, fire, sound and corrosion protection for any industrial application among different end-users.
Different technical insulations are available in the market, such as hot insulation, cold-flexible insulation and cold-rigid insulation. The expansion of the commercial sector is expected to boost demand for technical insulation of pipes and equipment, resulting in market expansion. Furthermore, demand for acoustic insulation in commercial buildings is expected to drive the market for technical insulation forward throughout the forecast period.
Technical Insulation Market Dynamics
Growing residential and commercial building expansion is projected to promote technical insulation of pipes and equipment, anticipated to benefit market growth. Increasing technical insulations in construction buildings adds positive value to the environment, thereby creating opportunities for the market to proliferate during the forecast period.
Growing residential and commercial building expansion is projected to promote technical insulation of pipes and equipment, anticipated to benefit market growth.
The commercial and residential sector is expanding at a tremendous rate across the globe due to the growing population and increasing investment in building and construction. The growing residential and commercial industry has created immense opportunities for technical insulations to proliferate in the forecast period.
The growth of the technical insulation market is expected to be fueled by the expansion of the industrial and commercial sectors across developing countries and increased demand for HVAC systems, refrigeration and heating and plumbing systems. The expansion is expected to boost demand for technical insulation of pipes and equipment, resulting in market expansion. Furthermore, demand for acoustic insulation in commercial buildings is expected to drive the market for technical insulation forward throughout the forecast period.
For instance, ROCKWOOL’s cladding roll offers lightweight thermal and acoustic cladding insulation for metal-framed structures' external walls and roofs. The product comes in a range of thicknesses and provides excellent insulation, fire protection and soundproofing. The product is a lightweight, flexible matt that comes in a compression wrapped roll and is available with or without aluminum facing. ROCKWOOL cladding roll (Aluminum Faced) has an exceptionally high tensile strength, ideal for vertical industrial applications.
The insulation offers various advantages such as water repellent, chemically inert, dimensionally stable, long-term & consistent thermal performance, excellent acoustic properties and fire classification A1 (non-combustible).
Increasing technical insulations in construction buildings adds positive value to the environment, thereby creating opportunities for the market to proliferate during the forecast period.
In the construction sector, insulation is a widely utilized commodity. Insulation's production, use and disposal have a variety of beneficial and negative environmental consequences. Chlorofluorocarbons (CFCs) as foaming agents have become the major environmental issue linked with insulation manufacturing.
Although practically all CFCs were phased out of insulation production long back, hydrochlorofluorocarbons (HCFCs) were substituted in the majority of goods. These are much better than CFCs, but they still cause ozone depletion and contribute to global warming, so they'll be phased out over the next decade as well.
Furthermore, by lowering a building's heating and air-conditioning requirements, all insulating materials reduce pollutant and greenhouse gas emissions. Its benefit nearly usually outweighs the environmental issues that some materials can cause.
Fiber insulation materials (cellulose, fiberglass, mineral wool, cotton) have lesser environmental implications than foam plastic insulation materials, but they don't have as high per inch R-values. When insulation thickness is not unduly restricted, specify fiber insulation. Thus, growing technical insulations add value to the environment, strengthening local and regional economies by reducing expenditures on fossil fuels, which are generally imported from outside the region.
Technical Insulation Market Summary
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Type, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
Asia-Pacific |
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Price fluctuation and less awareness about technical insulations act as a major restraint for the market's growth.
Market expansion is expected to be hampered by volatile raw material prices. Growing oil prices has impacted a lot more than the price to gas up our trucks. Oil is a basic ingredient in asphalt shingles and all vinyl products. Furthermore, over the foreseeable period, insufficient knowledge of the benefits of technological insulation is expected to limit the market growth.
Many companies invest a major chunk of their revenue in developing sustainable technical insulation. However, they are still unable to educate their customers about the benefits of technical insulation among various end-users, which reduces the target audience percentage of the key players. Furthermore, the market for technical insulation is expected to be limited by a lack of experienced staff for installation in many established firms.
COVID-19 Impact Analysis
Unfortunately, the coronavirus (COVID-19) outbreak has caused delays at industries throughout Asia, Europe and Finland. The scenario is also causing delays in cargo shipments inside Europe and delays in the delivery of imported products. The factors above may have an impact on all product shipment timelines. Unforeseen and unanticipated circumstances prohibit the organization from performing services and delivering products on time.
The pandemic has brought the commercial, residential construction and industrial sectors to a halt. During the current crisis, technical insulation demand is expected to be low to medium. Supply chain limitations, delays in-order delivery, workforce and equipment shortages and material shortages are serious concerns.
Following the crisis, the market is predicted to recover and the demand for technical insulation is expected to rise. Furthermore, most countries began to ease restrictions in the second half of 2020, which slowly revived the market's end-user industry, leading to rebuilding the market share for the product in the forecast period.
Technical Insulation Market Segmentation Analysis
The global technical insulation market is segmented on type, application, end-user and region.
Man-made mineral fiber is expected to grow fastest in the forecast period. The segment has a strong compression resistance and can fit into a pipe segment well while keeping the temperatures of both hot and cold pipes at appropriate levels.
The global technical insulation market based on type is segmented into flexible foam, rigid foam and man-made mineral fiber. Out of the mentioned types, flexible foam holds a dominating position in the global technical insulation market. The flexible insulation section has better insulating features, such as strength, durability and flexibility.
Furthermore, frost protection on pipes and equipment at low temperatures is expected to drive up demand for flexible insulating materials. Man-made mineral fiber, on the other side, is expected to grow at the fastest pace in the forecast period. Because these man-made mineral fibers are fire-resistant, they are employed in pipes at a maximum temperature of 1,148 0F (620°C).
The man-made mineral fibers have a strong compression resistance and can fit into a pipe segment well. The segment assists in keeping the temperatures of both hot and cold pipes at appropriate levels and aid in the prevention of condensation. Man-made mineral fibers are also employed in acoustic insulation systems since noise vibration damping adds values to the segmental growth.
Source: DataM Intelligence Analysis (2021)
Technical Insulation Market Geographical Share
The availability of low-cost raw materials combined with a plentiful supply of raw materials in economies such as China, Indonesia, India and South Korea is expected to move the region's industrial and commercial sectors forward.
Asia-Pacific holds a dominating position in the global technical insulation market due to increasing infrastructure expenditure by private and public organizations in countries like India, China, South Korea and Indonesia is likely to provide profitable prospects for technical insulating material makers throughout the projection period.
Furthermore, technical insulation market growth is expected to be fueled by factors such as rising population and fast urbanization in the region over the projected period. The region's technical insulation market is also expected to be driven by increased foreign investment in the country.
The availability of low-cost raw materials combined with a plentiful supply of raw materials in economies such as Indonesia, China, India and South Korea is expected to move the region's industrial and commercial sectors forward. It is expected to improve demand for technical insulation, resulting in market expansion.
Source: DataM Intelligence Analysis (2021)
Technical Insulation Market Companies
The technical Insulation market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are Zotefoams Plc, ETEX Group SA, Rockwool Global A/S, Recticel NV/SA, Owens Corning, Kingspan Group Plc, Armacell Global S.A., Morgan Advanced Materials plc, Aspen Aerogels, Inc., Knauf Insulation, L'ISOLANTE K-FLEX S.P.A. and among others.
The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the growth of the technical insulation market globally.
- For instance, in November 2019, Zotefoams Plc business- T-fit, a unique insulation technology, established its sales and service operation in one of India's pharma hubs, Ahmedabad.
Rockwool Global A/S
Overview: Rockwool Global A/S, the ROCKWOOL Group, is a globally mineral wool company based in Hedehusene, Greater Copenhagen, Denmark. The company's R&D department, which employs 100 people as of 2016, is housed in the same building as the headquarters in Copenhagen.
Product Portfolio: The Company has a product portfolio of technical insulations that includes:
- Thermalrock S (Slab): The product is an insulation slab used for various applications. It is available in a wide range of thicknesses and densities to meet a wide range of needs, and it is acceptable for use in residential, commercial and industrial buildings.
Key Development
- For instance, in November 2017, in Romania, the firm opened its first Rockwool production. It will strengthen the Group's already strong position in Romania, where it has had a sales representative office in Bucharest for nearly two decades. The expansion aided in meeting the rising demand for Rockwool insulation.
In November 2017, the company purchased Flumroc AG, a Swiss Rockwool maker. As a result, the company's product portfolio was bolstered.
Why Purchase the Report?
- Visualize the technical insulation market segmentation by type, application, end-user, highlighting key commercial assets and players.
- Identify commercial opportunities in the technical insulation market by analyzing trends and co-development deals.
- Excel data sheet with thousands of technical insulation market-level 4/5 segmentation points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global technical insulation market report would provide approximately 61 market data tables, 55 figures and 180 pages.
Target Audience 2024
- Raw Material Providers/ Buyers
- Manufacturers
- Logistics companies
- Research Professionals
- Emerging Automotive Companies
- Education & Research Institutes
- Distributors
