Selbyville, Delaware,, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The technical insulation market is expected to reach USD 12.85 billion by 2032, as reported in a research study by Global Market Insights Inc.
The influx of stringent regulations for promoting energy efficiency and sustainability across multiple industries is fuelling the demand for technical insulation materials. The continuous expansion of the construction sector coupled with the rising focus on reducing energy consumption is boosting several insulation requirements. The rapid growth of the manufacturing and petrochemical sectors is further driving the demand for thermal and acoustic insulation solutions. Additionally, technological advancements are leading to the development of innovative and high-performance insulation materials. The increasing awareness of the economic and environmental benefits of proper insulation along with the growing emphasis on energy conservation and environmental responsibility will also complement the industry growth.
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The man-made mineral fiber product type segment is estimated to accumulate 19% revenue share of the technical insulation market by 2032. The growth can be attributed to the excellent thermal insulation properties, fire resistance, and durability offered by man-made fiber. Increasing demand across industries, including construction and manufacturing is driving the widespread adoption of man-made mineral fiber insulation. Additionally, the continuous advancements in manufacturing technologies to enhance the performance and versatility of man-made mineral fiber insulation will favor the segment growth.
Technical insulation market from the acoustic application segment is expected to depict 4.3% growth rate between 2024 to 2032 led by the increasing awareness of the importance of sound control in various industries. Technical insulation materials play a vital role in mitigating noise as well as promoting a quieter and safer environment. The growing rate of industrialization and urbanization are also amplifying the need for effective acoustic solutions. Additionally, the influx of stringent regulations and standards related to noise pollution control will fuel the adoption of advanced technical insulation materials with superior acoustic properties.
Asia Pacific technical insulation market is projected to account for 41.5% revenue share by 2032. The growth can be ascribed to the robust industrialization, urbanization, and increasing construction activities across the region. The rising focus on sustainable construction practices is pushing the need for thermal and acoustic insulation solutions. Additionally, the increasing adoption of advanced insulation technologies to meet the environmental standards and energy conservation will compliment the regional industry expansion.
Some of the prominent companies operating in the technical insulation market include Rockwool international A/S, Saint-Gobain, Knauf insulation, Owens corning, Armacell, Kingspan Group, Johns Manville, BASF SE, Llsolante K-Flex, Kaimann GmbH, Huntsman Corporation, Fletcher Insulation, Paroc Group, ThermaXX Jackets, Buader Ltd. These industry players are focusing on capacity expansion and investment strategies to cater to the escalating end-user requirements.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Technical insulation industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Product type trends
2.4 Application trends
2.5 End-use trends
2.6 Regional trends
Chapter 3 Technical Insulation Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By application
3.3.3 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter's analysis
3.12 PESTEL analysis
3.13 Impact of Russia Ukraine war
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
