Press release
Technical Insulation: Core Growth Enabler in the Rapid Industrialization Fuels Growth In The Global Technical Insulation Market Market, 2025
Technical Insulation
What Will the Technical Insulation Industry Market Size Be by 2025?
The size of the technical insulation market has seen robust growth in the past few years. The market, which was valued at $7.5 billion in 2024, is projected to increase to $8 billion in 2025, representing a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this growth during the historic period include the introduction of energy efficiency regulations, the broadening of HVAC systems, expansion of the petrochemical industry, infrastructure growth, as well as industrialization and urbanization.
What's the Long-Term Growth Forecast for the Technical Insulation Market Size Through 2029?
It is anticipated that the technical insulation market will witness a significant expansion in the upcoming years, with its value expected to reach $9.8 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.2%. Factors contributing to this growth during the forecast period include the need to replace aging infrastructure, substantial investments in renewable energy, fluctuating energy prices, sustainability and ESG initiatives, and industrial automation. Key trends to watch out for during this period include smart insulation solutions, HVAC system efficiency, fire-resistant insulation, and the advent of digital design and simulation, along with the use of green building materials.
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What Are the Key Growth Drivers Fueling the Technical Insulation Market Expansion?
The surge in industrialization is playing a significant role in pushing the technical insulation market forward. Technical insulation is employed across numerous industries to prevent the dissipation of heat and electricity. The primary industries using technical insulation encompass heating and plumbing systems, HVAC systems, refrigeration, industrial pipes, and electric utilities. The expansion in these industries propels the global technical insulation market. For example, Eurostat, a governmental statistical agency based in the UK, reported a 0.2% increase in industrial production in the European area in July 2023. Furthermore, a growth of 0.1% was observed in the European Union from May to April 2023. Hence, the acceleration in industrialization is expected to fuel the growth of the technical insulation market.
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What Are the Key Trends Driving Technical Insulation Market Growth?
The recent inclination towards launching new products by companies is a prevalent trend in the technical insulation market. Firms are introducing new and innovative technical insulation items to enhance their product range and meet the demands of rapidly evolving markets. For example, in June 2022, Isover, an insulation materials manufacturer based in France, unveiled QTech, a light mineral wool suitable for medium temperature industrial applications. QTech, a proprietary technology, was developed to optimize and boost the performance of various industrial operations, mainly in the areas of materials and coatings.
How Is the Technical Insulation Market Segmented?
The technical insulation market covered in this report is segmented -
1) By Product: Flexible Foam, Rigid Foam, Man-made Mineral Fiber
2) By Application: Heating & Plumbing, HVAC, Refrigeration, Industrial Processes
3) By End User: Industrial & OEM, Energy, Transportation, Commercial Buildings
Subsegments:
1) By Flexible Foam: Polyurethane Foam, Polyethylene Foam, Elastomeric Foam, Other Flexible Foam Types
2) By Rigid Foam: Polyurethane Rigid Foam, Polystyrene Rigid Foam (EPS, XPS), Phenolic Rigid Foam, Other Rigid Foam Types
3) By Man-Made Mineral Fiber (MMMF): Rock Wool, Glass Wool, Slag Wool, Other Mineral Fiber Types
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Which Companies Are Leading the Charge in Technical Insulation Market Innovation?
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
Which Regions Are Leading the Global Technical Insulation Market in Revenue?
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 technical insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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