Technical insulation plays a pivotal role in conserving energy, reducing heat loss and maintaining infrastructures like pipelines, power plants, and buildings. Increasing power and energy requirements in emerging economies is expected to be a key driver of the technical insulation market.
The market size for technical insulation is estimated to be USD 10.3 billion in 2023, with a projected growth to USD 13.4 billion by 2028, at a compound annual growth rate (CAGR) of 5.3%. The continuous expansion of end-use sectors like Petrochemical, oil & gas, industrial sector, transportation, and commercial buildings is propelling the demand for technical insulation in the forecast period.
The hot insulation material segment dominated the market in 2022.
Hot insula
↧