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  • Pipe Insulation Market Growth & Forecast Analysis | 2023-2028

    Pipe Insulation Market Growth & Forecast Analysis | 2023-2028

    Pipe Insulation Market Growth & Forecast Analysis | 2023-2028
    Report code - SRCE227 Delivery - 2 Weeks
    Pipe Insulation Market Size, Share, Trends, Dynamics, Growth, and Forecast Analysis - See more...

    Market Insights

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

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    What is pipe insulation? 

    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.

    Pipe Insulation Market Highlights

    Market Size in 2022

    USD 2.31 billion

    Market Size in 2028

    USD 2.89 billion

    Market Growth (2023-2028)

    3.78% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Segments Covered

    By Application Type (Industrial, Oil, District Energy Systems, Building & Construction, and Other Applications),

    By Material Type (Rockwool, Polyurethane & Polyisocyanurate Foam, Fiberglass, Elastomeric Foam, and Others),

    By Region (North America, Europe, Asia-Pacific, and the Rest of the World).

    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

    Market Dynamics

    The prime factor that is contributing to the demand for pipe insulation market is-

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

    Pipe-Insulation-Market-Dynamics

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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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    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 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)

    Pipe-Insulation-Market-Segmentation

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    Research Methodology

    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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain 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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Pipe Insulation Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    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.

    Frequently Asked Questions (FAQs)

    The pipe insulation market was estimated at USD 2.31 billion in 2022.

    The pipe insulation market is likely to reach USD 2.89 billion in 2028.

    The pipe insulation market is expected to witness an impressive growth of 3.78% CAGR in the foreseeable future.

    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 are among the key players in the market.

    Asia-pacific is expected to be the largest market during the next five years.

    The prime factor that is driving the growth of the market is growing production of oil in countries such as the US, Saudi Arabia, Iran, and Russia, along with the presence of stringent regulations to insulate pipelines.

    The industrial segment holds the largest market share, followed by the oil segment, in terms of value.

    The rockwool material type is expected to rule the market in the coming years.