The study on the Pipe Insulation Market published by Stratview Research is an all-inclusive analysis of the key factors that are likely to determine the growth of the market in the upcoming years. The study dives deep to analyse detailed parameters that are expected to influence the global scenario of the Pipe Insulation Market during the forecast period of (2022-2028).
This newly published and insightful report sheds light on the market insights of Pipe Insulation Market key dynamics, their impact on the overall value chain from suppliers to end-users, current trends, growth opportunities, restraints, and market drivers that are projected to influence the overall dynamics of the market.
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 3.8% during 2022-2028 to reach USD 2.89 billion in 2028.
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.
Key Players
Some of the key 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
Pipe Insulation Market Segmentation
The report indicates the region and segment that is expected to witness the fastest growth in the coming years. The market experts have segmented the Pipe Insulation Market in certain ways -
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.
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.
In terms of regions, Asia-Pacific is estimated to be the largest pipe insulation 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.
Essential Takeaways from the Pipe Insulation Market Report
Stratview Research records all major product launches, emerging trends, and mergers& acquisitions over the last few years. It also analyzes existing market players to determine how well they are aligned with customer expectations. Below given pointers are some of the takeaways from the Pipe Insulation Market Report-
- Recent developments and key strategies adopted by market players.
- Impact of the various factors on the value chain of the Automotive Cabin Air Filter Market Insights.
- Growth opportunities for emerging market players in various regional markets.
Market Drivers
The prime factor that is contributing to the demand for 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.
Important queries related to the Pipe Insulation Market are addressed in the report:
- What would be the growth of the market in the coming five years?
- Who are the key players in the market?
- Which Region is estimated to be dominant in the market in the coming years?
- What will be the size of Pipe Insulation Market in the foreseeable future?
- What is Pipe Insulation?
- What will be the CAGR of the Pipe Insulation Market?
- What is the prime factor driving the growth of Pipe Insulation Market?
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- Company Profiling -Detailed profiling of additional market players (up to three players)
- Competitive Benchmarking - Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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