Technical Insulation Market Key Players | Zotefoams Plc; Owens Corning; Kingspan Group Plc

As per the study initiated by Evolve Business Intelligence, the global Technical Insulation Market size accounted for USD 7.79 billion in 2022, growing at a CAGR of 3.15% from 2023 to 2033.The technical insulation market involves the production and installation of materials designed to control heat transfer and prevent energy loss in various industrial and construction applications. These insulation materials, such as mineral wool, foams, and reflective coatings, are utilized to enhance energy efficiency, maintain temperature stability, and meet regulatory standards. The market has grown due to increasing awareness of energy conservation, sustainability, and stringent building codes. Key drivers include the demand for thermal and acoustic insulation solutions in sectors like construction, HVAC systems, and industrial processes. Major players in the market include manufacturers, suppliers, and contractors specializing in technical insulation products and services.
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The technical insulation market is driven by the growing emphasis on energy conservation and sustainability, leading to increased demand for materials that control heat transfer. Utilized in construction, HVAC systems, and industrial processes, insulation solutions such as mineral wool and foams play a key role in enhancing energy efficiency and meeting regulatory standards.
Key Players
Some of the major Technical Insulation Market players holding high market shares include Zotefoams Plc; Owens Corning; Kingspan Group Plc; Rockwool International A/S and Recticel NV/SA. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Morgan Advanced Materials plc; Armacell International S.A.; Aspen Aerogels, Inc.; Knauf Insulation; Saint-Gobain; Palziv Inc.
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Segmental Analysis
Based on Type, the Technical Insulation market is segmented into Hot Insulation, Cold-Flexible Insulation and Cold-Rigid Insulation. The heat insulation sector held a 40.6% market share in terms of revenue in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 2.9% between 2020 and 2027. The need for hot insulation for pipelines and equipment is expected to increase due to rising industrialization worldwide, which will fuel the technical insulation market.
Based on Application, the Technical Insulation market is segmented into Heating & Plumbing, HVAC, Acoustic and Refrigeration. In 2019, the market share of the heating and plumbing application sector was 35.4%. From 2020 to 2027, the market is projected to grow at a compound annual growth rate of 2.9%, with a projected value of USD 3.2 billion by that year.
Based on End-use, the Technical Insulation market is segmented into Industrial & OEM, Energy and Commercial Buildings.Revenue-wise, the OEM and industrial end-use sector held a 37.2% market share in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.9% between 2020 and 2027. Refineries, food processing, and chemical industries are using more and more technical insulation to reduce energy loss and carbon dioxide emissions.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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