Pipe Insulation Market Size to Record US$ 15 Bn through 2030

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The global pipe insulation market size is expected to be worth around US$ 15 billion by 2030, according to a new report by Vision Research Reports.

The global pipe insulation market size was valued at US$ 8 billion in 2020 and is anticipated to grow at a CAGR of 6% during forecast period 2021 to 2030.

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Pipe Insulation Market (By Product: Cellular glass, Polyurethane & Polyisocyanurate Foam, Fiberglass, Elastomeric Foam, Others; By Application: Industrial, Building & Construction, District Energy System) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size USD 15 billion by 2030
Growth Rate CAGR of 6 From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Armacell; Lydall, Inc.; Kingspan Group; Owens Corning; Huntsman International LLC; Saint-Gobain Group; Rockwool Insulation A/S; Johns Manville; Knauf Insulation; BASF SE; Covestro AG; Wincell Insulation Co., Ltd.; NMC International SA; Gilsulate International, Inc.; Sekisui Foam Australia; Omkar Puf Insulation PVT. LTD

Growth Factors

 Increasing infrastructure spending in the emerging markets of Asia Pacific and Central and South America is expected to propel market growth. The price structure of the product varies with respect to production processes and raw materials used. Fluctuating raw material prices result in variations in the prices of thermal insulating materials, thus affecting the suppliers that have integrated themselves across the value chain, thereby enabling them to gain superior control over product pricing.

Growing adoption of cogeneration or Combined Cooling, Heat, and Power (CCHP) technology for electricity generation is expected to drive the product demand. In addition, rising investments in R&D activities to optimize and lower the cost of insulation materials including (PU) and polyisocyanurate are expected to benefit the market.

Report Highlights

The & polyisocyanurate foam segment dominated the market and accounted for the largest revenue share of around 33.0% in 2021. The product is typically used in pipe insulation applications as it can restrict the absorption of air, water, and gas. The material is commonly used in applications below 50°F. as it offers excellent dimensional stability over a wide temperature range.

 The industrial application segment dominated the market and accounted for the largest revenue share of around 49.0% in 2021. Escalating demand for piping systems in various industries such as, oil and gas, power generation, chemical, and wastewater treatment is estimated to augment segment growth. The product is used in oil pipelines to provide enhanced safety, particularly in onshore pipelines.

Europe dominated the pipe insulation market and accounted for the largest revenue share of about 44.0% in 2021. This can be attributed to the rapidly increasing number of construction and infrastructural activities coupled with the rising installation of district energy systems in economies such as Germany, the U.K., Spain, and others.

In Asia Pacific, the market is expected to witness the fastest CAGR of 10.8% over the forecast period owing to growing investments in the chemical processing industry. In addition, rising demand from the oil and gas sector, coupled with rapidly expanding their LNG regasification capacities to meet future demand is expected to propel market growth.

Key Players

  • Armacell
  • Lydall, Inc.
  • Kingspan Group
  • Owens Corning
  • Huntsman International LLC
  • Saint-Gobain Group
  • Rockwool Insulation A/S
  • Johns Manville
  • Knauf Insulation
  • BASF SE
  • Covestro AG
  • Wincell Insulation Co., Ltd.
  • NMC International SA
  • Gilsulate International, Inc.
  • Sekisui Foam Australia
  • Omkar Puf Insulation Pvt. Ltd.

Market Segmentation

  • Product
    • Cellular glass
    • Polyurethane & Polyisocyanurate Foam
    • Fiberglass
    • Elastomeric Foam
    • Others
  • Application
    • Industrial
    • Building & Construction
    • District Energy System
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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