India pipeline thermal insulation materials market expected to expand at 7.9% CAGR due to rapid industrial growth

Fact.MR delivers key insights on the India pipeline thermal insulation materials market in its latest report titled ‘India Pipeline Thermal Insulation Materials Market: Forecast, Trend Analysis and Competition Tracking, 2018–2026.’

The long-term outlook of the India pipeline thermal insulation materials market is expected to remain positive and the market is expected to expand with a CAGR of 7.9% during the forecast period (2018–2026), primarily driven by the positive economic outlook in the country.

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On the basis of material type, the rock mineral wool segment is expected to dominate the India pipeline thermal insulation materials market and account for nearly one-third of the overall revenue generation.

Attributed to their superior properties, aerogel and microporous insulation are expected to be the fastest growing segments in the India pipeline thermal insulation materials market.

The India pipeline thermal insulation materials market, in 2017, was pegged at 39,800 tons and is anticipated to reach 42,137 tons by the end of 2018.

Rapid industrial growth in the country, coupled with rapid urbanization and GDP growth, is expected to drive the growth of the India pipeline thermal insulation materials market with a significant rate.

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Further, the India pipeline thermal insulation materials market is expected to benefit from the favorable government policies for the manufacturing sector and increasing ease of doing business index in the country.

Moreover, rapid chemical and petrochemical industry growth is set to cater to a lucrative growth opportunity for the India pipeline thermal insulation materials market over the forecast period.

The power plant segment is expected to be another prominent end-use industry for the India pipeline thermal insulation materials market.

Increasing power demand in the country is expected to drive the power plant industry, which, in turn, is expected to propel the India pipeline thermal insulation materials market.

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Moreover, growing environmental concerns and increasing focus on the development of sustainable energy, coupled with the increasing adoption and use of insulation materials for process applications are expected to gather momentum across a diverse set of industries including oil & gas, power generation, food & beverage and chemical and petrochemical, among others.

This is set to drive the India pipeline thermal insulation materials market at a significant rate.
Segmentation Analysis

On the basis of product type, the rock mineral wool segment is projected to retain its dominance in the India pipeline thermal insulation materials market throughout the forecast period, accounting for a volume share of over 50% by the end of 2018.

Glass mineral wool is expected to follow the rock mineral wool segment in the India pipeline thermal insulation materials market with a volume share of almost 1/7th of the overall market share.

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On the basis of temperature, the India pipeline thermal insulation material market has been segmented into 100 °C – 200 °C, 200 °C – 500 °C and above 500 °C. The 200 °C – 500 °C segment dominates the Indian pipeline thermal insulation materials market and is expected to remain dominant throughout the forecast period
On the basis of end-use industry, the India pipeline thermal insulation materials segment can be segmented into chemical, pharmaceutical, food & beverage, power plant, oil & gas, mining & metallurgy and others.

Chemicals & power plant are expected to be the most lucrative segments with significant growth opportunities over the forecast period
Vendor Insights

The pipeline thermal insulation materials market in the country is highly fragmented with a number of small-scale manufacturers and intense rivalry among companies.

The report highlights some of the leading companies operating in the India pipeline thermal insulation materials market such as Murugappa Morgan Thermal Ceramics Limited, U.P. Twiga Fiberglass Limited, NGP Industries Limited, Dhanbad Rockwool Insulation Pvt. Ltd., Lloyd Insulations (India) Ltd., Rockwool India Pvt. Ltd., Rockwool International A/S, HIL Limited and Aspen Aerogels Inc., among others.

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This release was published on openPR.