Technical Insulation Market Value is Projected to Reach $8.84 Bn By 2027

Precedence Research recently published a report on “Technical Insulation Market (By Type: Cold-Flexible Insulation, Hot Insulation, and Cold-Rigid Insulation; By Application: HVAC, Heating & Plumbing, Refrigeration, and Acoustic; By End-Use: Energy, Industrial & OEM, and Commercial Buildings) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, the global technical insulation market value is projected to reach US$ 8.84 billion by 2027, rising at a CAGR of 2.40% from 2020 to 2027.

Thermal conductivity is one of the key properties of the technical insulations. Technical insulation refers as the least expensive and most effective methods used for the reduction of carbon dioxide emission. Rising urbanization of the cities has played a major role in the growth and expansion of the technical insulation market across the globe.

Growth Factors

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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Report Highlights

• 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

Regional Snapshots

The Asia Pacific led the global technical insulation market in terms of revenue and expected to register the fastest growth over the forthcoming years owing to presence of several developing countries across the region. In addition, rapid urbanization and increasing population in the region attributed as the other major reasons responsible for the growth of technical insulation market in the region. Furthermore, China has emerged as a global manufacturing hub that has resulted in an increase in the demand for technical insulation in the commercial spaces along with industrial & OEM segments. Availability of low cost labor coupled with easy availability of raw materials projected to boost the production of insulation products in the region. On the other hand, Europe is the key contributor of revenue for the overall market growth. This is attributed to the significant growth of construction sector in the region.

Key Players & Strategies

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.

Market Segmentation

By Type

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

By Application

• HVAC
• Heating & Plumbing
• Refrigeration
• Acoustic

By End-Use

• Energy
• Industrial & OEM
• Commercial Buildings

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Takeaways

• Comprehensive analysis of the technical insulation market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global technical insulation market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Technical Insulation Market, By Type

7.1. Technical Insulation Market, by Type 2020-2027
7.1.1. Cold-Flexible Insulation
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Hot Insulation
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Cold-Rigid Insulation
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Technical Insulation Market, By Application

8.1. Technical Insulation Market, by Application, 2020-2027
8.1.1. HVAC
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Heating & Plumbing
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Refrigeration
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Acoustic
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Technical Insulation Market, By End-Use

9.1. Technical Insulation Market, by End-Use, 2020-2027
9.1.1. Energy
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Industrial & OEM
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Commercial Buildings
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Technical Insulation Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Type (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Type (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Type (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Type (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Type (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Type (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Type (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by End-Use (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Type (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by End-Use (2016-2027)

Chapter 11. Company Profiles

11.1. Zotefoams Plc
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. L’isolante K – Flex S.P.A.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Owens Corning
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Etex Group SA
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Kingspan Group Plc
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Johns Manville
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Rockwool International A/S
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. NMC SA
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Recticel NV/SA
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Morgan Advanced Materials plc
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Unifrax I LLC
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
11.12. Armacell International S.A.
11.12.1. Company Overview
11.12.2. Product Offerings
11.12.3. Financial Performance
11.12.4. Recent Initiatives
11.13. Aspen Aerogels, Inc.
11.13.1. Company Overview
11.13.2. Product Offerings
11.13.3. Financial Performance
11.13.4. Recent Initiatives
11.14. Knauf Insulation
11.14.1. Company Overview
11.14.2. Product Offerings
11.14.3. Financial Performance
11.14.4. Recent Initiatives
11.15. Saint-Gobain
11.15.1. Company Overview
11.15.2. Product Offerings
11.15.3. Financial Performance
11.15.4. Recent Initiatives
11.16. Palziv Inc.
11.16.1. Company Overview
11.16.2. Product Offerings
11.16.3. Financial Performance
11.16.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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