How much insulation is required? I presume that you want thermal insulation rather than acoustic and that it's an external wall?
Things like JackoBoard, NoMorePly, Wedi Board offer a degree if insulation but not on the level a dedicated product would.
You can get 50mm thick Wedi board for example but it isn't cheap in that thickness! As you mentioned it's not really useful for a painted surface.
Seeing as it's a wall where only the sink will live you can consider water resistant materials rather than waterproof. If you wanted to be over cautious you could always tank the area around the sink and splashback.
If it's were you I'd probably use something like British Gypsum ThermaLine which has a water resistant version.
https://www.british-gypsum.com/products/gyproc-thermaline-pir-mr?tab0=0
Things like JackoBoard, NoMorePly, Wedi Board offer a degree if insulation but not on the level a dedicated product would.
You can get 50mm thick Wedi board for example but it isn't cheap in that thickness! As you mentioned it's not really useful for a painted surface.
Seeing as it's a wall where only the sink will live you can consider water resistant materials rather than waterproof. If you wanted to be over cautious you could always tank the area around the sink and splashback.
If it's were you I'd probably use something like British Gypsum ThermaLine which has a water resistant version.
https://www.british-gypsum.com/products/gyproc-thermaline-pir-mr?tab0=0
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