Technical Insulation Market to Exhibit 3.8% CAGR till 2028 |Top Players-Rockwool International A/S, Saint-Gobain Isover.
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Rising need to achieve higher energy efficiency and reduce energy bills are some key factors driving global technical insulation market revenue growth
VANCOUVER, BC, CANADA, April 11, 2022 /EINPresswire.com/ -- The technical insulation market size is expected to reach USD 10.87 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing usage of technical insulation across industrial, offshore, and marine sectors as it provides a very cost-effective option to protect buildings, systems, and structures. Increasing awareness across various industries regarding the need for optimized insulation of process equipment and higher insulation standards for building service equipment in order to achieve higher energy efficiency is expected to drive growth of the technical insulation market during the forecast period. Better temperature regulation enables better ability to reduce costs and minimize CO2 emissions generated by industries each year. Rising need to reduce energy consumption for heating and cooling of commercial buildings and minimize the usage of fossil fuels has resulted in increasing utilization of technical insulation.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Technical Insulation business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Technical Insulation market growth assessed on both regional and global levels.
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Key players in the market include Rockwool International A/S, Saint-Gobain Isover, Owens Corning, Knauf Insulation, Kingspan Group plc, Armacell International S.A., L'Isolante K-Flex S.p.A., Morgan Advanced Materials, Etex Group, and Aspen Aerogels, Inc.
Market Dynamics:
The report offers insightful information about the market dynamics of the Technical Insulation market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Technical Insulation market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Technical Insulation market.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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Some Key Highlights From the Report
In January 2020, Owens Corning, which is a leading global producer of fiberglass insulation launched next-generation insulation product made by PureFiber Technology. The next-generation insulation product is non-combustible, soft to the touch, easy to use, cut and spilt, has high strength, low permeability, and eliminates the use of weld mesh for support.
Hot insulation segment accounted for largest revenue share in 2020. Rising need to prevent pipes from overheating while keeping the warmth inside the pipe is driving demand for hot insulation materials across industrial, marine, and offshore sectors.
Heating & plumbing segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing demand for cost-effective insulated pipes with outstanding technical properties is boosting utilization of technical insulation.
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Emergen Research has segmented the global technical insulation market on the basis of product type, application, end-use, and region:
Product type Outlook (Revenue, USD Billion; 2018–2028)
Cold-Rigid Insulation
Cold-Flexible Insulation
Hot Insulation
Application Outlook (Revenue, USD Billion; 2018–2028)
HVAC
Heating & Plumbing
Acoustic
Industrial Processes
Refrigeration
End-use Outlook (Revenue, USD Billion; 2018–2028)
Energy
Industrial & OEM
Transportation
Commercial Buildings
Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
BENELUX
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA
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Radical Highlights of the Technical Insulation Market Report:
Comprehensive overview of the Technical Insulation market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Technical Insulation market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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