Pipe Insulation Market Analysis | 2023-2028

Market Insights

The pipe insulation market was estimated at USD 2.31 billion in 2022 and is likely to grow at a CAGR of 3.78% during 2023-2028 to reach USD 2.89 billion in 2028.

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Market Dynamics

Introduction 

Pipe insulation is a material or combination that adds a protective covering to pipes and reduces the heat loss or heat gain from surfaces operating above or below the surrounding temperature.

Pipe Insulation materials are of different types, such as Rockwool, polyurethane & polyisocyanurate foam, fiberglass, elastomeric foam, and others, used in various applications, such as industrial, oil, district energy systems, building & construction, and others.

COVID-19 IMPACT

The spread of COVID-19 negatively impacted the pipe insulation market. The major factors leading to a decline in sales were supply-chain disruption and lockdowns and restrictions across the globe.

Market Drivers

The major factors driving the growth of the pipe insulation market are:

• The growing production of oil in countries such as the US, Saudi Arabia, Iran, and Russia.
• The presence of stringent regulations to insulate pipelines.

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Key Players

Some of the major players in the market are-

• Rockwool International A/S
• Armacell International Holding GmbH
• Kingspan Group plc
• Owens Corning
• Saint-Gobain S.A.
• Huntsman Corporation
• Johns Manville
• Knauf Insulation
• BASF S.E.
• Covestro AG

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Application Type

The market is segmented as industrial, oil, district energy systems, building & construction, and other applications based on the application type. The industrial segment holds the largest market share, followed by the oil segment, in terms of value. Rapid industrialization in developing economies such as APAC and South America; and the necessity to insulate pipelines used in various process industries are the major growth drivers of the industrial segment during the forecast period.

By Material Type

The market is segmented as rockwool, polyurethane & polyisocyanurate foam, fiberglass, elastomeric foam, and others based on the material type. The rockwool material type is expected to rule the market during the forecast period, in terms of value, owing to its non-flammable nature and high compressive strength, which drive its demand in various applications. Adding to its properties is its sustainability, as it does not cause any harm to the environment.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, owing to the growing industries in the region’s emerging economies, such as China and India. They are driven by the rising per capita disposable income, rapid urbanization, and growing demand for district energy systems, creating high growth for the market. Adding to the growth drivers is the high growth in various pharmaceuticals, food processing, and chemical industries.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s pipe insulation market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The pipe insulation market is segmented into the following categories:

By Application Type

• Industrial
• Oil
• District Energy Systems
• Building & Construction
• Other Applications

By Material Type

• Rockwool
• Polyurethane & Polyisocyanurate Foam
• Fiberglass
• Elastomeric Foam
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.