Pipe Insulation Market Size 2018 Global Industry Share Top 5 Company Profiles | BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (US), Rockwool International A/S (Denmark), Saint-Gobain

Pipe Insulation Market Information: By Type (Foamed Plastic, Elastomeric Foam, Mineral Wool, Fiber Glass), End-Use Industry (Chemical and Oil & Gas, Power, Automotive, Construction, Food & Beverages, Pharmaceuticals), And Region — Global Forecast Till 2023

Competitive Analysis

Some of the key players operating in the global pipe insulation market are BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (US), Rockwool International A/S (Denmark), Saint-Gobain (France), Armacell International SA (Luxembourg), Owens Corning (US), Thermaxx Jackets (US), Cellofoam GmbH & Co. KG (Germany), Great Lakes Textiles (US), Kingspan Group (Republic of Ireland), Knauf Insulation (UAE), Wincell Insulation Co.Ltd (China), Dunmore (US) and Johns Manville (US).

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Overview:

The global pipe insulation market has been segmented by type, end-use industry, and region.

Based on raw material, the global pipe insulation market has been segmented into foamed plastic, elastomeric foam, fiber glass, mineral wool, and others. Among them, the mineral wool segment held the largest market share in 2018 due to its excellent fire-resistance and high compressive strength. Additionally, it is derived from renewable raw material and does not cause any harm to the environment. However, the foamed plastic segment is expected to grow at a fastest CAGR during the forecast period due to its superior thermal, acoustic, and moisture barrier properties.

Based on end-use industry, the global pipe insulation market has been segmented into chemical, oil & gas, power, automotive, building & construction, food & beverages, pharmaceutical, and others. Among them, the oil & gas segment held the larger market share in 2018, in terms of both value and volume, due to the huge size of the oil & gas industry as well due to the growing cross border oil & gas transportation.

Regional Analysis

The global pipe insulation market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific held the largest market share in 2018 and is expected to grow at a fastest CAGR during the forecast period. North America and Europe are collectively following Asia-Pacific in terms of market size and are expected to show steady growth during the forecast period. The Middle East & Africa market is expected to contribute significantly to the global pipe insulation market in 2018. Latin America market is expected to experience increasing demand for pipe insulation during the forecast period.

Regional Analysis

The global pipe insulation market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific was the largest and fastest growing market for pipe insulation in 2018 and is expected to continue dominating during the forecast period. Rapid industrialization in the region due to lucrative investment policies, low production cost and inexpensive labors are largely supporting the growth of pipe insulation market in the region. Additionally, growing end-use industries such as chemical, oil & gas, power, automotive, building & construction, food & beverages, and pharmaceutical are attributing high demand for pipe insulation to increase durability and cost effectiveness of pipelines, and thereby save maintenance cost in long-term.

North America and Europe collectively accounted for the second largest market share of the global pipe insulation market in 2018. The regions are, however, expected to show steady growth during the forecast period due to the mature scenario of various industries. Presence of major market players and stringent regulatory standards are some of the factors attributing to the product market in the region.

The Middle East & Africa is expected to exhibit significant demand for pipe insulation during the forecast period. End-use industries such as oil & gas and food & beverages are providing stable revenue source to the pipe insulation market.

Slow economic development in Latin America affected the growth of the pipe insulation market in 2018. Moreover, the region is expected to show increasing growth during the forecast period due to the rising industrialization in countries such as Brazil, Mexico, and Venezuela.

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Email: sales@marketresearchfuture.com

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