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Home ➤ Manufacturing ➤ Engineering | Equipment and Machinery ➤ Pipe Insulation Market
Pipe Insulation Market
Pipe Insulation Market
Published date: March 2023 • Formats:
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  • Home ➤ Manufacturing ➤ Engineering | Equipment and Machinery ➤ Pipe Insulation Market

Global Pipe Insulation Market By Material Type (Cellular Glass, Fiberglass, Polyurethane & Polyisocyanurate Foam and Other Material Types), By Application (Building & Construction, District Energy System and Industrial), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

  • Published date: March 2023
  • Report ID: 16417
  • Number of Pages: 273
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Sample
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    • Pipe Insulation Market Overview:
    • Global Pipe Insulation Market Scope:
    • Key Маrkеt Ѕеgmеntѕ:
    • Market Dynamics:
    • Regional Analysis:
    • Кеу Regions and Countries covered іn thе rероrt:
    • Market Share & Key Players Analysis:
    • Маrkеt Кеу Рlауеrѕ:

    Pipe Insulation Market Overview:

    The market for pipe insulation was worth USD 8,742 million in 2021. It is projected to grow at a 4.8% CAGR between 2023 and 2032.

    The market is expected to grow due to rising awareness among consumers about energy conservation. Due to the pandemic, the market saw a sharp decline in investments in the industrial sector. These factors have harmed the market. A dramatic drop in crude oil prices caused a decrease in the fiscal resources of oil-producing countries. This affected product demand from the oil & gas sector. Market growth is expected to be driven by the increasing adoption of district heating systems due to rising electricity tariffs and rising environmental awareness. The forecast period will also increase investment in gas liquefaction terminal expansion.

    Global Pipe Insulation Market Scope:

    Material Type Analysis

    Polyurethane and Polyisocyanurate dominated the market and accounted for over 22% of the total revenue for 2021. Because it can absorb water, air, and gases, the material is commonly used in pipe insulation applications.

    Cellular glass has high compressive strength, low vapor permeability, and fire protection. Cellular glass can be used for many purposes, including heat transfer fluid systems and chemical processing systems. It is also used in ductwork, commercial pipes, storage tanks, and other areas.

    Fiberglass has a wide range of applications in insulation systems because it is easy to install and low cost. It is used extensively to insulate copper and iron pipes in commercial, industrial, and institutional buildings. It is used to provide insulation solutions in the construction and automotive industries.

    pipe insulation market analysis

    Application Analysis

    The market’s largest segment, industrial applications, accounted for more than 34.3% of total revenue in 2021. The segment’s growth is expected to be boosted by the increasing demand for piping systems across various industries, including petrochemical and oil and gas, power generator, chemical, and wastewater treatment. This product increases safety in oil pipelines, especially in onshore pipelines.

    The increasing population and urbanization will likely drive the demand for building materials and other construction products. Pipe insulation will be influenced by the growth in the construction industry and stricter energy efficiency norms. The growing trend towards sustainable buildings is another factor that has fueled the growth of pipe insulation.

    District energy systems are being adopted around the world to connect renewables, heat grids, thermal storage, and heat pumps. These systems use pre-insulated pipes to distribute produced streams and provide steam or hot water to cool building spaces. They provide sustainable heating and cooling.
    Insulated piping systems dominate district energy systems. These pipes are made of eco-friendly materials. The growth of district energy systems will also lead to an increase in demand for pipe insulation.

    Key Маrkеt Ѕеgmеntѕ:

    By Material Type

    • Cellular Glass
    • Fiberglass
    • Polyurethane & Polyisocyanurate Foam
    • Other Material Types

    By Application

    • Building & Construction
    • District Energy System
    • Industrial

    Market Dynamics:

    High market competition has been created by the presence of many manufacturers and service providers. Pipe insulation prices vary depending on the production process and raw materials used.

    Major pharmaceutical companies are increasing their capacity to meet the growing demand for cosmetic and pharmaceutical products. These production plants include process pipes, which will drive significant demand for pipe insulation in the future.

    Manufacturers are heavily dependent on trusted suppliers who have a high level of goodwill due to past product procurement. This makes it difficult for new entrants into the market. The market is dominated by established players that have a solid financial base. New entrants will be further restricted by the high initial investment required to start the business. This will limit new players from entering the market.

    Regional Analysis:

    Europe was the dominant market, accounting for more than 31.1% of global revenue in 2021. This is due to the rapid increase in construction and infrastructural activity and the increasing installation of district energy systems within economies such as Spain, Germany, and the U.K.

    Domestic consumption of food, beverages, and pharmaceutical products is increasing. This has driven investments in these manufacturing sectors. It has also pushed the North American demand for pipe insulation and process pipes. The industry is expected to grow because of rising product demand for residential applications.

    Thanks to growing investments in chemical processing, APAC will see a 5.4% growth rate from 2022 to 2032. Market growth will also be driven by rising oil and gas demand and the rapid expansion of LNG regasification capacity to meet future demand.

    Although the Brazilian chemical industry is a major player in the manufacturing sector, the current stagnant economic environment has negatively impacted overall investment. This has affected the demand for pipe insulation. The recent pandemic will also delay economic recovery and impact the investment climate.

    pipe insulation market value

    Кеу Regions and Countries covered іn thе rероrt:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Spain
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Rest of Asia-Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • MEA
      • GCC
      • South Africa
      • Israel
      • Rest of MEA

    Market Share & Key Players Analysis:

    Due to the many players in the market, the industry is fragmented. The market players are focused on offering customers diversified and eco-friendly product offerings. Companies also emphasize using raw materials to ensure a constant supply and a cost-effective overall pipe insulation system. Due to limited resources, small companies often depend on intermediaries such as suppliers and brokers to carry out many marketing functions. The distribution and sales channels they use to supply end-users with their products are established, market players. The following are some of the most prominent players in the global pipe insulation market:

    pipe insulation market company share

    Маrkеt Кеу Рlауеrѕ:

    • Armacell
    • Lydall, Inc.
    • Kingspan Group
    • Owens Corning
    • Huntsman International LLC
    • Saint-Gobain Group
    • Rockwool Insulation A/S
    • Johns Manville
    • Other key Players

    For the Pipe Insulation Market research study, the following years have been considered to estimate the market size:

    AttributeReport Details

    Historical Years

    2016-2020

    Base Year

    2021

    Estimated Year

    2022

    Short Term Projection Year

    2028

    Projected Year

    2023

    Long Term Projection Year

    2032

    Report Coverage

    Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.

    Regional Scope

    North America, Europe, Asia-Pacific, South America, Middle East & Africa

    Country Scope

    United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa

    Frequently Asked Questions (FAQ)

    Q: What is the Pipe Insulation market size in 2021?

    The Pipe Insulation market size is US$ 8,742 million for 2021.

    Q: What is the CAGR for the Pipe Insulation market?

    The Pipe Insulation market is expected to grow at a CAGR of 4.8 % during 2023-2032.

    Q: What are the segments covered in the Pipe Insulation market report?

    Market.US has segmented the Global Pipe Insulation Market Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Material Type, the market has been segmented into Cellular Glass, Polyurethane & Polyisocyanurate Foam, Fiberglass and Other Material Types. By Application, the market has been further divided into Industrial, Building & Construction and District Energy systems.

    Q: Who are the key players in the Pipe Insulation market?

    Armacell, Lydall, Inc., Kingspan Group, Owens Corning, Huntsman International LLC, Saint-Gobain Group, Rockwool Insulation A/S, Johns Manville and Others are the key vendors in the Pipe Insulation market

    Q: Which region is more attractive for vendors in the Pipe Insulation market?

    Europe will register the highest growth rate of 32% among the other regions. Therefore, the Pipe Insulation market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

    Q: What are the key markets for Pipe Insulation?

    Key markets for Pipe Insulation are the US, Canada, Mexico, Spain, Germany, China, India, Japan, and the U.K

    Q: Which segment has the largest share in the Pipe Insulation market?

    In the Pipe Insulation market, vendors should focus on grabbing business opportunities from the Polyurethane and polyisocyanurate segment as it accounted for the largest market share in the base year.

    Pipe Insulation Market
    Pipe Insulation Market
    Published date: March 2023
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    • Armacell
    • Lydall, Inc.
    • Kingspan Group
    • Owens Corning
    • Huntsman International LLC
    • Saint-Gobain Group
    • Rockwool Insulation A/S
    • Johns Manville
    • Other key Players
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