Technical Insulation Market Size

Technical Insulation Market size was valued at USD 7.9 billion in 2023 and is poised to cross USD 41.1 billion by the end of 2036, expanding at more than 3.4% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of technical insulation is estimated at USD 12.5 billion.

The market's progression of technological breakthroughs reveals the many uses for technical insulation. Its fire protection, thermal regulation, noise reduction, and corrosion-free behavior make it a suitable choice for floor ceilings, internal wall insulation, roof, HVAC, and acoustic insulation applications. Ongoing efforts to encourage the use of electric vehicles and electric airplanes is expected to help the technical insulation industry expand at higher levels. In April 2024, Huntsman announced the launch of new polyurethane systems, Shokless to protect electric vehicle batteries.

Moreover, increasing research and development projects on smart insulation systems is another key factor expected to increase sales of technical insulation across several sectors, especially modern infrastructure. For instance, in July 2023, Recticel Group announced the launch of a new range of polyurethane insulation solutions containing 25% biocircular raw materials that help in reducing on average 43% of the CO2 emissions compared to the conventional insulation boards.