The latest report on technical insulation market by Precedence Research, Market Insight, Overview By Industry Top Manufactures, Size, Trends, Industry Growth Analysis & Forecast till 2027. The research report offers complete information related to market growth, demand and supply, opportunities and research updates in the technical insulation Market.
The report analyzes and forecasts the technical insulation market at a global and regional level. The study includes drivers and restraints of this market. The study provides an analysis of the global technical insulation market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.
The global technical insulation market size is projected to be valued at USD 8.84 billion by 2027, expanding at a CAGR of 2.40% from 2020 to 2027.
Increased spending on infrastructure development particularly in the developing economies that include India, China, South Korea, and Indonesia estimated to be the prime factor that propels the growth of the market. In addition, rapid urbanization and industrialization in different parts of the world expected to flourish the industry growth over the upcoming years. Heat insulation is a vital component in any industry to minimize the heat loss, boost the machine efficiency, and reduce the overall operating cost in an industry. Thus, technical insulation demand expected to flourish with the increase in industrialization in the coming years.
Other than industrial application, technical insulation is prominently used in the commercial buildings. Office spaces, malls, shopping centers, schools, and many other places require proper insulation to protect them from damage. Presently, government as well as organizations is working tremendously towards decreasing the rate of pollution along with enhancing the efficiency of the components used in the commercial buildings. In addition, significant rise in the construction of residential and commercial buildings on the account of rising population across the globe spur the growth of the technical insulation.
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The Asia Pacific emerged as the global leader accounting for a value share of nearly 35% in 2019 and expected to grow at a prominent rate of 3% between the years 2020 and 2027
Europe is the other key revenue contributor for the market growth due to rising OEM facilities and industrialization that boosts the need for various applications of insulation
The hot insulation segment emerged as the leading type accounting for a share of nearly 41% in 2019 and projected to grow prominently with a rate of 3% during the foreseen period
The cold-flexible insulation segment follows the hot insulation in terms of growth rate and estimated to witness a CAGR of nearly 2.2% due to its superior properties
By application, the heating & plumbing segment held significant market share of approx. 35% in 2019 attributed to the rising use of insulated pipes & equipment for industrial applications
Rising implementation of HVAC systems in the commercial sector because of rising emphasis on the energy efficient system predicted to prosper the growth of the segment
The global players in the technical insulation market are largely focused towards expanding their production facilities across the emerging nations such as Indonesia, Brazil, and many others to capture the untapped opportunities across the region. For instance, in November 2017, ROCKWOOL Group opened up a new production facility in Romania. The new production center helped the company to cater the increasing demand for insulation materials.
The industry participants also adopt several inorganic growth strategies that include merger & acquisition, partnership, joint venture, and collaboration to maintain their footprint on a global scale. For example, in April 2018, Owens Corning acquired Guangde SKD Rock Wool Manufacture Co. Ltd. based in China, a manufacturer of mineral wool. The acquisition assisted the company in cementing its presence in China market.
Some of the key players operating in the market are Zotefoams Plc, L'isolante K - Flex S.P.A., Owens Corning, Etex Group SA, Kingspan Group Plc, Johns Manville, Rockwool International A/S, NMC SA, Recticel NV/SA, Morgan Advanced Materials plc, Unifrax I LLC, Armacell International S.A., Aspen Aerogels, Inc., Knauf Insulation, Saint-Gobain, and Palziv Inc. among others.
Heating & Plumbing
Industrial & OEM
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
- Latin America (Brazil and Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
What Our Report Offers:
1. technical insulation market estimates of all the key segments, sub-segments, and the regional markets from 2020 to 2027.
2. Market Trends (Drivers, Restraints, Opportunities, Threats, Challenges, Investment Analysis, and Key Proposals).
3. Market share appraisals for all the local and the global regional segments.
4. Strategic recommendations in technical insulation key business sections in light of the market estimations.
5. Competitive analysis detailing the key growth trends and inclinations.
6. Market share and size of all the foremost industry players.
7. Strategic proposals for the new participants.
8. Company profiling with comprehensive approaches and methodologies, financials, and latest technological developments.
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