Technical insulation consists of materials used to inhibit heat, electricity, or sound transmission into or out of something. It is capable of coping with the expansion, contraction, and vibration, caused due to fluctuation in temperature and sound. The technical insulation system is used in power plants, chemical plants, refineries, food industries, or other processing industries to reduce heat loss and carbon dioxide emissions which helps in improving the industrial plant’s energy efficiency and sustainability.

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Rapid industrialization, along with the growing demand for the efficient use of power and energy across the globe, are the major factors that are contributing to the growth of the global technical insulation market. A range of industries, including oil & gas, chemical, food & beverages, transportation, and other processing industries are increasingly adopting for technical insulation system owing to its beneficial properties such as it helps the pipework and equipment from freezing in low ambient temperatures, maintains temperature limits in industrial processes for liquids and gases, and prevents them from corrosion due to high humidity levels.

Technical insulation helps in the reduction of heat loss or gain and decreases the amount of energy needed to maintain process equilibrium, which helps in saving the cost and provide maximum energy savings. These factors are estimated to drive the market growth. Moreover, the rising awareness related to the benefits of technical protection of the equipment and personnel safety and security is further propelling the market growth. However, fluctuation in the prices of raw material and low awareness about technical insulation are the factors that will hamper the market growth of technical insulation during the forecast period.

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Based on the material type, the market is segmented into hot insulation, cold-flexible insulation, and cold-rigid insulation. The hot insulation segment is expected to grow at a higher CAGR over the forecast period. This is attributed to the increasing demand for hot insulating materials including stonewool, calcium silicate, aerogel, and fiberglass to insulate piping systems, tanks, boilers, industrial chimneys, among others. Additionally, hot insulation offers insulation to industrial equipment at high temperatures while keeping the warmth inside the equipment, which helps in lowering down the energy bill. This factor is further anticipated to further propel the market growth.

Based on the product type, the market is segmented into flexible, rigid, man-made mineral fibre (MMF). MMF segment is anticipated to grow at a faster CAGR during the forecast period owing to its heat, electrical, and acoustic insulating properties. Various types of MMFs, including glass, mineral wools, slag wool, ceramic fibres, refractory fibres, and other are often used in electrical and construction industry to control heat loss, absorb acoustic energy, structural fire protection, pipe insulation, filter impurities in gases and liquids, reinforce other materials, and control condensation. This factor is estimated to propel the market growth of man-made mineral fiber during the forecast period.

Based on application, the market is segmented into heating & plumbing, HVAC, refrigeration, industrial process, acoustic. The heating and plumbing application segment is estimated to grow at a higher CAGR during the forecast period. This is mainly due to the growing usage of insulated equipment and pipes for industrial purposes for reducing the loss of heat. Increasing use of HVAC systems in the commercial sector, rising demand for soundproofing in commercial buildings, and the strong demand for refrigeration in the food processing industries are some other factors that will boost the growth of the segment.

Based on the end-use Industry, the market is segmented into industrial & OEM, energy, transportation, and commercial buildings. The industrial & OEM end-use segment is anticipated to lead the technical insulation market, primarily due to the increasing adoption of technical insulation system in a wide range of industries owing to its low emissivity cladding systems, that helps in maximizing potential energy savings of industrial equipment and improving the environmental protection. Various industries, including oil & gas, manufacturing, energy & utilities, telecommunication, and semiconductors use OEM insulation for acoustic, thermal, and fire-related purposes. This factor is expected to augment the growth of the technical insulation market in the industrial & OEM end-use segment during the forecast period.

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Based on the region, the Asia-Pacific region is expected to dominate the technical insulation market during the forecast period, primarily due to the increasing population, rapid industrialization, and growth in the demand for insulation in commercial spaces and industrial sectors. The rise in per capita disposable incomes in countries including China, Japan, India, and South Korea, along with the increasing demand for energy conservation, are further propelling the demand of technical insulation products, thereby, driving the growth of the market in the region.

Various notable players operating in the global technical insulation market include Owens Corning, Rockwool International A/S, Kingspan Group Plc, Morgan Advanced Materials Plc, ETEX Group, Armacell International S.A., Aspen Aerogels, Inc., Zotefoams Plc, NMC International SA, and Group Recticel, among others.

 Key Developments: 

• • In 2020, Imerys Group, a France based company offering mineral-based specialities, has acquired Hyderabad Industries Ltd’s thermal insulation business. HIL is a part of the CK Birla Group that has one of the largest manufacturing capacity of calcium silicate insulation products in India and South-East Asia. This acquisition is expected to strengthen the geographical reach of the Imerys Group in the Asia-Pacific market.
  • In 2018, Owens Corning acquired Guangde SKD Rock Wool Manufacture in Guangde, China. This acquisition would help Owens Corning in expanding its technology portfolio and strengthening the geographical reach in the Asia-Pacific technical insulation market.
  • In 2018, Owens Corning acquired the Paroc Group, one of the leading producers of mineral wool insulation for thermal, fire and acoustic applications in residential and commercial construction in Europe. This acquisition is projected to enhance the product portfolio of Owens Corning and its customer reach in European market.

The global technical insulation market has been segmented on the basis of product type, end-use industries, and region. Based on the material type, the market is segmented into hot insulation, cold-flexible insulation, and cold-rigid insulation. Based on the product type, the market is segmented into flexible, rigid, man-made mineral fibre (MMF). Based on application, the market is segmented into heating & plumbing, HVAC, refrigeration, industrial process, acoustic. Based on end-use Industry, the market is segmented into industrial & OEM, energy, transportation, and commercial buildings

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Key questions answered in this research report:

• • At what pace is global technical insulation market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in technical insulation market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global technical insulation market?
  • Which material type generated maximum revenues in 2019 and identify the most promising material type during the forecast period?
  • What are the various end-use industries of global technical insulation market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Technical Insulation Market by Material Type

• • Hot Insulation
  • Fiberglass
  • Stonewool
  • Calcium Silicate
  • Microporous Insulation
  • Aerogel
  • Vacuum Insulated Panel (VIP)
  • Cold-Flexible Insulation
  • Elastomeric Foams
  • Ethylene Propylene Diene Monomer (EPDM)
  • Polyethylene (PE) & Xpe Foams
  • Polypropylene (PP)
  • Other Polyolefin (PO) & Extruded Polyolefin (XPO)
  • Cold-Rigid Insulation
  • Polyurethane (Pu/Pur) and Polyisocyanurate (PIR) Foam
  • Phenolic Foam
  • Expanded Polystyrene (EPS)
  • Extruded Polystyrene (XPS)

Global Technical Insulation Market by Product Type

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

Global Technical Insulation Market by Application

• • Heating & Plumbing
  • HVAC
  • Refrigeration
  • Industrial Processes
  • Acoustic

Global Technical Insulation Market by End-Use Industry

• • Industrial & OEM
  • Energy
  • Transportation
  • Commercial Buildings

Global Technical Insulation Market by Region

• • North America Technical Insulation Market (Option 1: As a part of the free 25% customization)
    • North America Technical Insulation Market by Product Type
    • North America Technical Insulation Market by Application
    • North America Technical Insulation Market by End-Use Industry
    • US Technical insulation Market All-Up
    • Canada Technical insulation Market All-Up
  • Europe Technical insulation Market (Option 2: As a part of the free 25% customization)
    • Europe Technical Insulation Market by Product Type
    • Europe Technical Insulation Market by Application
    • Europe Technical Insulation Market by End-Use Industry
    • UK Technical Insulation Market All-Up
    • Germany Technical Insulation Market All-Up
    • France Technical Insulation Market All-Up
    • Spain Technical Insulation Market All-Up
    • Rest of Europe Technical Insulation Market All-Up
  • Asia-Pacific Technical Insulation Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Technical Insulation Market by Product Type
    • Asia-Pacific Technical Insulation Market by Application
    • Asia-Pacific Technical Insulation Market by End-Use Industry
    • China Technical Insulation Market All-Up
    • India Technical Insulation Market All-Up
    • Japan Technical Insulation Market All-Up
    • Rest of APAC Technical Insulation Market All-Up
  • RoW Technical Insulation Market (Option 4: As a part of the free 25% customization)
    • RoW Technical Insulation Market by Product Type
    • RoW Technical Insulation Market by Application
    • RoW Technical Insulation Market by End-Use Industry
    • Brazil Technical Insulation Market All-Up
    • South Africa Technical Insulation Market All-Up
    • Saudi Arabia Technical Insulation Market All-Up
    • UAE Technical Insulation Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Technical Insulation Market All-Up

Global Technical Insulation Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Owens Corning 
  • Rockwool International A/S 
  • Kingspan Group Plc
  • Morgan Advanced Materials plc
  • ETEX Group
  • Armacell International S.A.
  • Aspen Aerogels, Inc. 
  • Zotefoams Plc
  • NMC International SA
  • Group Recticel