Technical Insulation Market Segments, Opportunity, Growth and Forecast by End-use Industry 2020-2027
Technical Insulation Insights:
The market report studies the impact of COVID-19 on the market while covering many aspects of the industry such as market size, market status, emerging trends, and forecast. The report also offers a brief information of the competitors and the specific growth opportunities, along with key market drivers.
Major Players in Technical insulation Market:
The leading players in the Technical insulation Market:
- Owens Corning
- Rockwool International A/S
- Kingspan Group Plc
- Morgan Advanced Materials Plc
- ETEX Group
- Armacell International S.A.
- Aspen Aerogels, Inc.
- Zotefoams Plc
- NMC International SA
- Group Recticel
Key Drivers of Technical Insulation Market:
Rapid industrialization, coupled with the rising demand for the efficient use of power and energy globally, are the key factors supporting the growth of the global technical insulation market. A range of industries including chemical, oil & gas, transportation, food & beverages, and other processing industries are opting for technical insulation system due to its beneficial properties such as it supports the pipework and equipment from freezing in low ambient temperatures, maintains temperature limits in industrial processes for liquids and gases, and protects them from corrosion owing to high humidity levels.
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Technical insulation reduces heat loss or gains and decreases the amount of energy required to maintain process equilibrium, which helps in saving the cost, and offer maximum energy savings. These factors are boosting the market growth. Additionally, the increasing awareness associated with the advantages of technical protection of the equipment and personnel safety and security, further drives the market growth. On the other hand, variations in the prices of raw material and lack of awareness about technical insulation will hinder the market growth of technical insulation in the upcoming years.
Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period due to rapid industrialization, the rising population, and strong demand for insulation in industrial sectors and commercial spaces. The increase in per capita disposable incomes in economies including China, Japan, and South Korea, followed by the growing demand for energy conservation, are further bolstering the demand for technical insulation products, thus fuelling the growth of the market in the region.
Technical Insulation Market Segmentation:
The technical insulation market has been segmented into the following categories:
Technical Insulation Market by Material Type:
- Hot Insulation
- Fiberglass
- Stonewool
- Calcium Silicate
- Microporous Insulation
- Aerogel
- Vacuum Insulated Panel (VIP)
- Cold-Flexible Insulation
- Elastomeric Foams
- Ethylene Propylene Diene Monomer (EPDM)
- Polyethylene (PE) & Xpe Foams
- Polypropylene (PP)
- Other Polyolefin (PO) & Extruded Polyolefin (XPO)
- Cold-Rigid Insulation
- Polyurethane (Pu/Pur) and Polyisocyanurate (PIR) Foam
- Phenolic Foam
- Expanded Polystyrene (EPS)
- Extruded Polystyrene (XPS)
Technical Insulation Market by Product Type:
- Flexible Foam
- Rigid Foam
- Man-made Mineral Fibre
Technical Insulation Market by Application:
- Heating & Plumbing
- HVAC
- Refrigeration
- Industrial Processes
- Acoustic
Technical Insulation Market by End-Use Industry:
- Industrial & OEM
- Energy
- Transportation
- Commercial Buildings
Technical Insulation Market by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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