Technical Insulation Market Trends

Growth Drivers

• Rising environmental concerns: The rising consumption of energy as a result of growing population and industrial sector has resulted in concerns about rising carbon footprint. The demand for energy-efficient solutions, including technical insulation to cater to these issues has significantly increased lately. There has also been an increase in green building certifications globally, driving the need for high-performance and safe insulating materials.
  
  Companies are heavily investing in R&D activities to develop products that meet environmental standards and contribute to the overall sustainability of buildings. In September 2023, Knauf Insulation announced its plan to launch new sustainable building standards for new sites following the certification of plant offices in France given by the independent Green Building System Haute Qualité Environnementale (HQE).  
• High usage of technical insulation for industrial applications: Technical insulation solutions are widely used in industrial applications, including oil and gas, chemical and power generation to reduce heat transfer, energy loss, and overall pollution. It helps to maintain a stable environment where temperature control is critical.  In September 2023, ROCKWOOL came up with an advanced insulation solution to cater to the common industry problem of water intrusion, ProRox with WR-Technology.

Challenges

• Lack of awareness: One of the biggest challenges in the technical insulation market is the lack of awareness of the benefits of technical insulation, especially in the residential sector or remote areas. This can result in its low adoption, hampering market growth. Moreover, the installation of these systems and solutions requires specific skills and knowledge. Lack of expertise in many areas can restrain technical insulation market growth going ahead.
• Fluctuating prices of raw materials:  The raw materials such as fiberglass, foams, and petrochemicals used in insulation products can fluctuate due to supply chain disruptions or oil price fluctuations. This in turn can affect the profitability of manufacturers, and hamper overall market growth.