PUBLISHER: The Business Research Company | PRODUCT CODE: 1657003
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657003
Technical insulation comprises products designed for various industrial applications, serving to prevent heat, fire, and electricity, as well as control sound transmission in or out of materials. It offers a cost-effective solution to safeguard industrial equipment and systems.
The primary product types in the technical insulation market include flexible foam, rigid foam, and man-made mineral fiber. Flexible foams find extensive use in gasket materials, padding or cushion materials, and other applications. Rigid foam sheathing insulation represents an innovative construction material primarily utilized for temperature control in specific areas. Man-made mineral fibers are commonly employed in high-tech products, such as high-efficiency air filters, especially in aerospace insulation. In terms of application, the market is segmented into heating and plumbing, HVAC, refrigeration, and industrial processes. By end user, the market is further segmented into industrial and OEM, energy, transportation, and commercial buildings.
The technical insulation research report is one of a series of new reports from The Business Research Company that provides technical insulation statistics, including technical insulation industry global market size, regional shares, competitors with technical insulation shares, detailed technical insulation segments, market trends and opportunities, and any further data you may need to thrive in the technical insulation industry. This technical insulation research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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.
Rapid industrialization is playing a significant role in the growth of the technical insulation market. Technical insulation is utilized across various industries to prevent heat and electricity loss. Key end-user sectors for technical insulation include heating and plumbing systems, HVAC systems, refrigeration, industrial piping, and electric utilities. The expansion of these end-user industries is propelling the global technical insulation market forward. For example, in July 2023, Eurostat, a UK-based government statistical agency, reported a 0.2% increase in industrial output within the European area. Additionally, the European Union recorded a 0.1% rise in industrial output between May and April 2023. Therefore, the rapid pace of industrialization is expected to drive growth in the technical insulation market.
The increasing demand in the oil and gas sector is anticipated to boost the growth of the technical insulation market in the coming years. This sector encompasses the exploration, extraction, refining, transportation, and marketing of petroleum products. Technical insulation within the oil and gas industry employs specialized materials, including high-temperature-resistant materials, acoustic insulation materials, and thermal insulation. These materials are chosen based on the specific needs of the equipment or structures they are designed to insulate. For example, in May 2023, the Energy Information Administration-a principal U.S. government statistical agency responsible for collecting, analyzing, and distributing energy data-reported that the United States produced 0.6 million barrels of crude oil per day in 2022, marking a 5.6% increase from 2021. Additionally, in December 2022, U.S. dry natural gas output saw a significant surge, exceeding 100 billion cubic feet per day in October and November, breaking pre-pandemic monthly generation records established three years earlier. As a result, the rising demand in the oil and gas sector is propelling the growth of the technical insulation market.
A significant trend gaining traction in the technical insulation market is the launch of new products by companies. Firms are introducing innovative technical insulation solutions to enhance their product portfolios and meet the demands of rapidly expanding markets. For example, in June 2022, Isover, a France-based manufacturer of insulation materials, introduced QTech, a lightweight mineral wool designed for medium-temperature industrial applications. QTech is a proprietary technology developed to optimize and improve the performance of various industrial processes, particularly in the areas of materials and coatings.
Major players in the technical insulation market are concentrating on technological innovations to enhance corrosion protection within technical insulation. These innovations involve the development of advanced materials, coatings, and application techniques to prevent or mitigate corrosion damage in insulated systems. For instance, in March 2023, ROCKWOOL, a Denmark-based mineral wool manufacturing company, launched ProRox Mat (Wrap) Insulation with WR-Tech Water Repellant Technology. This technology, utilizing a hydrophobic material, makes the insulation five times more water-repellent than standard EN-compliant stone wool, providing proven protection against corrosion under insulation (CUI).
In July 2024, Kirkland Advises TJC, a U.S.-based law firm, acquired Insulation Technology Group for an undisclosed amount. The purpose of this acquisition is to leverage Insulation Technology Group's innovative products and technologies, which aligns with TJC's strategy of investing in companies that offer sustainable solutions in construction and energy efficiency. Insulation Technology Group is a U.S. company that manufactures high and ultra-high voltage porcelain insulators intended for critical applications in electrical substations, as well as overhead transmission and distribution systems.
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
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 global technical insulation market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the technical insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The technical insulation market consists of sales of technical insulation equipment and their maintenance services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Technical Insulation Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on technical insulation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for technical insulation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The technical insulation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.