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Technical Insulation Market Size

Report ID: GMI6700
Published Date: Sep 2023
Report Format: PDF

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Technical Insulation Market Size

Technical Insulation Market size was valued at around over USD 8.51 Billion in 2023 and is anticipated to grow at a CAGR of 4.5% between 2024 and 2032. Stringent building energy codes and regulations push for improved insulation to enhance energy efficiency in buildings. Certifications like LEED and BREEAM promote energy-efficient materials, including technical insulation.

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Effective insulation reduces heat loss or gain, leading to lower heating and cooling costs for buildings. Proper insulation helps decrease energy consumption, reducing greenhouse gas emissions associated with heating and cooling.

Technical Insulation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Technical Insulation Market Size in 2023:	USD 8.51 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.5%
2032 Value Projection:	USD 12.85 Billion
Historical Data for:	2018 to 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Product Type, Application, End-Use
Growth Drivers:	Expanding oil and gas industry Increasing industrial activities Rapid urbanisation
Pitfalls & Challenges:	Lack of Awareness and Education Cost Considerations Variability in Building Regulations

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Many customers and industry professionals may not fully understand the benefits of technical insulation, leading to suboptimal adoption and usage. Building codes and regulations related to insulation can vary widely between regions and countries, creating complexity for manufacturers and installers. The initial investment in high-quality technical insulation materials and installation can be perceived as expensive. Thus, the risks associated with technical insulation may drive down the acceptance rate, further hampering the business growth.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Market size for technical insulation was valued at over USD 8.51 Billion in 2023 and is estimated to reach USD 12.85 Billion by the end of 2032, favored by the stringent building energy codes and regulations for improved insulation to enhance energy efficiency in buildings.

HVAC Systems held a dominant market share of around 35% in 2022 and is expected to grow at a lucrative pace through 2032 as insulation on HVAC systems and ducts prevents energy loss during air distribution, optimizing heating and cooling efficiency.

U.S. technical insulation industry was worth USD 1.7 Billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032, backed by the stringent building codes and energy regulations in the region.

Rockwool International A/S, Saint-Gobain, Knauf Insulation, Owens Corning, Armacell, Kingspan Group, Johns Manville, BASF SE, LIsolante K-Flex, Kaimann GmbH, Huntsman Corporation, Fletcher Insulation, Paroc Group, ThermaXX Jackets, Bauder Ltd. among others.