Technical Insulation Market Size Worth $10.42 Billion By 2032 | CAGR: 3.2%

The global technical insulation market size is expected to reach USD 10.42 billion by 2032, according to a new study by Polaris Market Research. The report “Technical Insulation Market Share, Size, Trends, Industry Analysis Report, By Material Type (Hot Insulation, Cold-Flexible Insulation, Cold-Rigid Insulation); By Application; By End Use Industry; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Energy efficiency is becoming the top concern among countries due to the shortage of fossil fuels and rising greenhouse gas emissions. Technical insulation is utilized to conserve energy by integrating components with pipes, ducts, floors, roofs, and walls. In modern times, households are constantly trying to find technologies that can provide heat in the winter while being cool in the summer with an environmentally friendly nature, with a view to cutting heating costs. A 2023 study explored the innovation of thermal insulation systems with natural blowing agents.

The ongoing global warming crisis on the planet is driving the consumption of HVAC (heating, ventilation, and air conditioning) systems. Based on International Energy Agency statistics, air conditioning is responsible for one billion metric tonnes of CO2 emissions annually, out of 37 billion global emissions. The integration of HVAC insulation systems is positively influencing the position of technical insulation in promoting sustainable practices in the cooling industry. This trend is expected to facilitate significant growth potential for the market.

The ongoing research activities to reach net-zero goals by 2050, as a part of the Paris agreement, are contributing to the growth of the market. The power industry constitutes 80% of S6 consumption, a major greenhouse gas, with a value reaching 7000 tonnes in China. One of the crucial tasks to control emissions is the adoption of S6-free gas-insulated equipment. The rising progress in studies on this issue is expected to have a significant growth impact in the coming years.

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The rising technological advancements in technical insulation are likely to enhance the effectiveness of industrial processes and workspace safety. The companies are focusing more on expansion activities to gain a competitive edge over their peers and foster a global presence. In December 2023, Saint-Gobain acquired Menkol Industries to promote a technical waterproofing platform in India.

Technical Insulation Market Report Highlights

• Cold-Flexible Insulation segment is anticipated to witness the highest growth in the coming years due to its effectiveness in stabilizing temperatures.
• Industrial Process segment accounted for the largest market share owing to the increasing industrial development activities.
• Transportation segment is projected to experience a larger revenue share due to its ability to ensure the safety of stock in transit.
• Europe is expected to have the fastest growth during the forecast period owing to the rising need for equipment to protect from extreme weather conditions.
• The global players include Aerofoam, Arabian Fiberglass Insulation Company Ltd., Armacell, Cabot Corporation, Dyplast Products & GlassRock.

Polaris Market Research has segmented the technical insulation market report based on material type, application, end use industry and region:

Technical Insulation, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Hot Insulation
• Cold-Flexible Insulation
• Cold-Rigid Insulation

Technical Insulation, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Industrial Process
• Heating and Plumbing
• Acoustic
• HVAC
• Refrigeration

Technical Insulation, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

• Industrial & OEM
• Energy
• Transportation
• Commercial Buildings

Technical Insulation, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Technical Insulation Market Report Scope