Industrial Pipe Insulation Materials Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Industrial Pipe Insulation Materials Market grew at a CAGR of 3.3% between 2017-2021 and is estimated to be US$ 1,684.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.8% and is expected to reach a valuation of US$ 2,445.9Mn by 2032 end.
During the forecast period, rising consumer awareness of the need for energy saving is anticipated to drive market expansion. Due to the pandemic, the market saw a sharp decline in investments in the industrial sector, which affected the market. Additionally, a sharp decline in crude oil prices reduced the fiscal resources available to oil-producing nations, impacting the demand for oil and gas products.
District heating systems are predicted to become more popular in the U.S. due to rising electricity prices, growing environmental awareness, and technological advancements. Throughout the forecast period, increasing investment in gas liquefaction terminal expansion is also anticipated to fuel product demand.
ChemView Consulting has analyzed that insulation materials are in high demand across various end-use industries due to their significant qualities and advantages, including increased water vapor permeability, moisture retention, low VOC emission, and thermal conductivity. Additionally, these materials tend to lower the overall energy consumption of production units while boosting manufacturer profit margins.
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Due to its reduced cost and simple installation, fiberglass is frequently utilized in insulation systems. The substance provides insulating solutions in the building and automotive industries. The importance is commonly used in industrial, commercial, and institutional structures to insulate copper, iron, and PVC pipes.
Segments Covered in Report
By Material Type:
- Fiberglass
- Mineral Wool
- Cellular Glass
- Polyurethane
- Polystyrene
- Others
By Application:
- Industrial
- Building & Construction
- District Energy System
By End-Use:
- Chemicals
- Food & Beverages
- Oil & Gas
- Power
- Metal Manufacturing
- Other Industrial
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Industrial Pipe Insulation Materials Market
- Based on the material type, throughout the forecast period, the market is anticipated to be driven by the low temperature and cryogenic insulating capabilities of Fiberglass insulation materials used in the upstream sector. The market sector is expanding profitably and is anticipated to rise by 7.0% annually. It is expected to account for more than a third of the market value.
- Based on the application, the industrial application sector dominated the market with almost 37.0% of the total revenue. The category is expected to rise due to rising demand for piping systems across several industries, including petrochemical, oil and gas, power generation, chemical, and wastewater treatment. Oil pipelines use the product to improve safety, particularly onshore pipelines.
- Based on the region, the market was led by Europe, which brought in more than 27.8% of global sales. This can be ascribed to the fast-rising number of infrastructure-related development projects and the expanding use of district energy systems in countries with developed economies like Spain, Germany, and the United Kingdom.
Competition Summary
Key companies covered in the market study are Rockwool International A/S, SAINT-GOBAIN, Armacell International S.A, Owens Corning Insulating Systems, LLC, Knauf Insulation, Kingspan Group plc, Johns Manville Corporation, ContiTech AG, Dyplast Products Llc, ITW Insulation Systems, BASF SE, Huntsman, Aeroflex USA, Inc, L’ISOLANTE K-FLEX S.p.A, Shanghai ABM Rock Wool Co., Ltd.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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