Rapid industrialization, growth in demand for oil, stringent regulations in the industrial sector, increasing strategic developments such as partnerships and agreements, favourable research funding scenario, are key factors contributing to high CAGR of Pipe insulation market during forecast period.
Market Size – USD 8.51 Billion in 2018, Market Growth - CAGR of 3.6%, Market Trends – and research for pipe insulation market.
The recent analysis of the pipe insulation market suggested that the market is growing at a CAGR of 3.6% and is estimated to attain a market value of USD 11.28 billion by 2026. The pipe insulation consists of a protective coating over pipeline networks which will moderates the loss of heat during its flow. There are additional applications such as condensation control and prevention of freezing, sound proofing and many more. It is mandatory to insulate pipelines especially in certain industries like oil refineries and chemical manufacturing. These products use a composite of various materials that gives the specified qualities and aids in the normalized functioning of these pipes.
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The market is characterised by various driving forces such as emergence of advanced industrial production as well as demand for complex consumer goods throughout the world, due to high disposable income and industrialization in countries like India and China. Along with this awareness about the vulnerability of workers has also made the regulations stringent, urging the manufacturers to install pipe insulators. The market is a favourable playground to channelize investments but it is not free from restraints. The highly volatile cost of raw materials and quality regulations have hampered the volume produced along with the inherent budgetary constraints.
Further Key Findings from the Report
• The market has been able to grow due to the emergence of industries like oil and food and beverages which extensively uses pipeline networks in their production processes. The stringent regulations of the government and other international authorities escalated the need for insulations.
• Research and Developments labs have been established throughout the world in order to introduce newer additional properties to the insulation cables. For example, SABIC stays strong in the market with their Foam Innovation Centre where exhaustive research developments take place.
• Complex forms of industrialization and vulnerability to industrial disasters gives rise to secure the pipeline which either hold reactive chemicals or oil which are toxic to the environment. Hence it is significant to insulate pipelines of these industries.
• The countries use pipe insulations for district cooling and district heating systems. In countries with extremely cool climates like Russia and Poland, they utilize the district heating systems and provide a large market. Whereas countries like UAE utilize the district cooling systems through pipe insulations.
• After Asia Pacific, North America holds the second largest market share, holding about 27% of the global share owing to the rapid industrialization, high disposable income and other factors.
• Brazil is an emerging market but at a relatively slower rate. There are a lot of untapped opportunities mostly due to the lack of awareness about safety measures and adoption of primitive methods of production. Hence the least share is accounted for by Latin American Countries accounting to about 2.8%
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the pipe insulation market on the basis of type, end use, applications and region:
Type (Revenue, USD Million; 2016–2026)
• Fibreglass
• Rockwool (Mineral wool)
• Elastomeric Foam
• Polyurethane Foam
• Others
End Use (Revenue, USD Million; 2016–2026)
• Industrial segment
• Oil and refineries
• district energy systems
• building & construction
• others
Applications (Revenue, USD Million; 2016–2026)
• Temperature control
• personal protection
• Prevention of corrosion.
• Prevent heat loss.
• Others
Regional Outlook (Revenue, USD Million; 2016–2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/pipe-insulation-market
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