Technical Insulation Market Analysis

 Material Type (Hot Insulation, Cold Flexible Insulation, Cold Rigid Insulation)

The hot insulation segment in the technical insulation market accounted for a revenue share of 40.1% in 2023. The growth of this segment can be attributed to rapid industrialization across the globe, growing efforts to lower CO2 emissions, and rising demand for energy conservation. Hot insulation stops heat from escaping from systems or equipment, which enhances machine performance.

Many manufacturers are developing advanced hot insulation solutions to cater to these issues. For instance, in October 2023, APL Aeroflex announced the launch of next-generation hot insulation, Aerocell Rail suitable for high-speed modern rail and metro rail coaches. The company announced that it is 100% recyclable and has passed all stringent fire rating tests by railways.

Application (Industrial & OEM, Heating and Plumbing, Acoustic, HVAC, Refrigeration)

In terms of application, the heating and plumbing segment in the technical insulation market is anticipated to hold a CAGR of 30% in 2023. The demand for technical insulation in heating and plumbing applications is expected to increase as insulated pipes and equipment are used more frequently in industrial settings to prevent heat loss. For instance, in May 2022, Armcell launched two residential products for connecting the indoor and outdoor components of external heat pumps and air-conditioners.

Our in-depth analysis of the technical insulation market includes the following segments: