Press release
Technical Insulation Market Set to Reach USD 15.6 Billion by 2030
Technical Insulation Market
The global Technical Insulation Market is poised for significant growth, with projections indicating an increase from USD 10.4 billion in 2023 to USD 15.6 billion by 2030, representing a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period.
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Technical Insulation Market Overview
Technical insulation plays a crucial role in enhancing energy efficiency, reducing greenhouse gas emissions, and ensuring safety across various industries, including construction, manufacturing, and energy. The market's expansion is fueled by rapid industrialization, urbanization, and stringent environmental regulations that mandate the use of energy-efficient solutions.
Competitive Landscape
The technical insulation market is characterized by the presence of several key players striving to enhance their market share through product innovation, strategic collaborations, and mergers and acquisitions. Notable companies include:
Rockwool International A/S
Saint-Gobain Isover
Owens Corning
Knauf Insulation
Kingspan Group PLC
Armacell International S.A.
L'isolante K-Flex S.P.A.
Morgan Advanced Materials PLC
Etex Group SA
Aspen Aerogels, Inc.
These companies are focusing on expanding their product portfolios and global footprint to cater to the increasing demand for technical insulation solutions.
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Regional Demand
The Asia-Pacific region is expected to dominate the technical insulation market during the forecast period, accounting for over 35% of the global revenue share in 2023. This growth is attributed to rapid urbanization, industrialization, and the availability of low-cost raw materials in countries like China, India, Indonesia, and South Korea.
Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam's technical insulation market is experiencing growth due to increased industrial activities and infrastructure development. The government's focus on energy efficiency and sustainable construction practices is driving the adoption of advanced insulation materials.
Trends in Thailand
Thailand is witnessing a surge in demand for technical insulation, propelled by the expansion of its manufacturing sector and the implementation of energy conservation policies. The country's commitment to reducing energy consumption is fostering the adoption of efficient insulation solutions.
Consolidation in Japan
Japan's technical insulation market is characterized by consolidation, with companies merging to enhance their product offerings and market reach. The country's emphasis on energy efficiency and sustainable building practices is contributing to market growth.
Updation in South Korea
South Korea is updating its building codes and energy policies to promote the use of technical insulation. The government's initiatives to reduce greenhouse gas emissions are encouraging the adoption of energy-efficient insulation materials in various sectors.
Opportunities in Singapore
Singapore presents significant opportunities in the technical insulation market, driven by its robust construction industry and stringent energy efficiency regulations. The country's focus on sustainable development is leading to increased demand for advanced insulation solutions.
Growth in the United States
The United States continues to be a significant player in the technical insulation market, with growth driven by the expansion of the construction and manufacturing sectors. The country's emphasis on energy conservation and sustainability is fostering the adoption of technical insulation solutions.
Trends in China
China's technical insulation market is expanding rapidly, fueled by urbanization, industrial growth, and government initiatives promoting energy efficiency. The country's commitment to reducing carbon emissions is encouraging the use of advanced insulation materials.
Consolidation in Europe
Europe is experiencing consolidation in the technical insulation market, with companies engaging in mergers and acquisitions to strengthen their market position. The region's focus on energy efficiency and stringent environmental regulations are driving the demand for technical insulation solutions.
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Technical Insulation Market Segmentation:
by Material Type
Hot Insulation
Cold-Flexible Insulation
Cold-Rigid Insulation
The market is divided into three segments based on the kind of material: hot insulation, cold-flexible insulation, and cold-rigid insulation. By 2030, the Hot Insulation sector is anticipated to have the biggest market share. The market for technical insulation is anticipated to be driven by the increased need for hot insulation for equipment and pipelines brought on by global industrialisation. Growing demand for energy efficiency and increased initiatives to reduce carbon dioxide are predicted to support segmental growth. Furthermore, hot insulation improves machine performance by keeping heat from escaping from systems and equipment. This is anticipated to propel market expansion over the forecast period.
by Application
Heating & Plumbing
HVAC
Acoustic
Refrigeration
The market is divided into four segments based on the application: HVAC, refrigeration, heating and plumbing, and acoustics. During the 2023-2030 projection period, the Heating & Plumbing Application category is anticipated to expand at a compound annual growth rate (CAGR). The increasing use of insulated pipes and equipment for industrial purposes to stop heat loss is predicted to raise demand for technical insulation in the heating and plumbing sector.
by End-use
Industrial & OEM
Energy
Commercial Buildings
The market is divided into three segments based on end-use: commercial buildings, energy, and industrial & OEM. The industrial and OEM segment is anticipated to expand at a compound annual growth rate (CAGR) between 2023 and 2030. Technical insulation is increasingly being used in food processing facilities, chemical industries, and refineries to minimise carbon dioxide and energy leaks.
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Recent Developments
In May 2025, Samsung Electronics announced its acquisition of German air conditioning and heating systems manufacturer FlaktGroup for €1.5 billion ($1.68 billion), aiming to strengthen its capabilities in cooling solutions for high-demand data centers.
In March 2024, the European Commission accused Kingspan, an Irish insulation manufacturer, of providing incorrect and misleading information during its 2021 acquisition attempt of Slovenian firm Trimo.
In August 2023, Holcim acquired Cooper Standard Technical Rubber GmbH (CSTR), a Germany-based company specializing in technical rubber products, to expand its roofing business across Europe.
In 2023, Etex Group acquired Danish insulation specialist Skamol, enhancing its portfolio in the technical insulation market.
In 2023, TopBuild acquired Texas Insulation, a company specializing in spray foam and fiberglass insulation, to enhance its spray foam capabilities and strengthen its position in the market.
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