Global Pipe Insulation Market Key Players, Demands, Rockwool, Fiberglass, PUR & PIR foam, Elastomeric foam and Forecasts to 2027

The global pipe insulation market will grow to USD 2.6 Billion by 2027, at a CAGR of 3.8% from USD 2.2 Billion in 2022.Pipe insulation is composed of materials or a combination of materials, which adds a protective covering to pipes and reduces the heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperatures. It prevents the formation of condensation on pipework, and thus acts as a protective barrier against moisture, which can build up inside a pipe, leading to various types of corrosion. The pipe insulation is used in many applications such as industrial, oil, district energy systems, building & construction, and others. Based on material type, the pipe insulation market is segmented into rockwool, fiberglass, polyurethane (PUR) & polyisocyanurate (PIR) foam, fiberglass, elastomeric foam, and others. The major drivers of the pipe insulation market are the growth in oil and gas demand, development of green buildings, stringent regulatory environment, and reduction in energy consumption and its related cost. Availability of green insulation material creates an opportunity for the manufacturers of pipe insulation. On the other hand, volatile prices of plastic foams is a key restraint for the market, and corrosion under insulation is a challenge for the manufacturers leading to health and safety related incidents.

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"Rockwool material type is projected to be the fastest-growing type of pipe insulation market during the forecast period."
Rockwool is a naturally renewable and sustainable material. It is used in pipes for a maximum temperature of 620°C as it is fire resistant. It has high compression resistance and can fit properly in a pipe section. Rockwool helps to maintain optimal temperatures of both hot & cold pipes. It helps in condensation control. It is a noise dampener and thus is used in the acoustic insulation systems.

"Industrial application is estimated to be the largest application in pipe insulation market, in terms of value, in 2021"
Insulation increases efficiency and performance of industrial processes or plants. A well-insulated industrial plant provides minimum energy consumption and maximum durability of the plant's equipment. In industrial pipelines, high compressive strength insulation is used to maintain nominal thickness during and after installation of the insulation. Low thermal conductivity, low water absorption, effective noise reduction, and corrosion resistance are the other properties of insulation materials required for industrial insulation.

"Asia Pacific is estimated to be the second-largest pipe insulation market, in terms of value, in 2021"
Asia Pacific was the largest pipe insulation market in 2021. This segment covers China, Japan, India, Indonesia, Australia, Malaysia, South Korea and Rest of Asia Pacific, including Taiwan, Singapore, Philippines, Nepal, Myanmar, Thailand, Vietnam, Sri Lanka, Pakistan, and Bangladesh. The increasing population in the region, accompanied by the development of new technologies and products, is projected to make this region an ideal destination for the pipe insulation industry to grow. Improved lifestyle, increasing income, and growing population help develop the pipe insulation market in developing regions. However, industry players face challenges in setting up new plants, implementing new technologies, and creating a supply chain between raw material providers and manufacturing industries in developing countries of Asia Pacific.

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Breakdown of primaries
The study contains insights from various industry experts, ranging from raw material suppliers to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
• By Designation: C-Level - 46%, Director Level - 27%, and Others - 27%
• By Region: North America - 33%, Europe - 27%, APAC - 27%, South America - 7%, Middle East & Africa - 6%,

The key market players profiled in the report include Saint-Gobain S.A. (France), BASF S E (Germany), Johns Manville (US), Owens Corning (US), Kingspan Group PLC (UK), Rockwool A/S (Denmark), Covestro AG (Germany), Huntsman Corporation (US), Armacell (Luxembourg) and Knauf Insulation (US) and others.

Research Coverage
This report segments the market for pipe insulation is based on material type, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, associated with the market for pipe insulation.

Reasons to Buy this Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the pipe insulation market; high-growth regions; and market drivers, restraints, and opportunities.

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The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on pipe insulation offered by top players in the global market
• Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for pipe insulation across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global pipe insulation market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the pipe insulation market

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