The Global Pipe Insulation Market is projected to reach a value of over USD 11.5 billion by 2027 at a CAGR of around 3.1%.
A thermal or acoustic insulation used on pipework is known as pipe insulation. It helps to maintain the temperature by preventing heat gain and heat loss from pipe surface. Additionally, they also protect pipes from water or moisture, chemical interaction, corrosion, and other damages and breaks owing to which they are widely used in various industries. Moreover, minimize energy wastage, low condensation, and prevents injuries are some of the major advantages offered by pipe insulation. Various types of pipe insulations are available in the market are foamed plastic, material wool, fiberglass, elastomeric foam, and others.
Market Driver:
Growing oil & gas demand coupled with increasing instance of cross border oil & gas transportation has increased the demand for pipe insulation. According to the U.S. Energy Information administration (EPA), the total world production of petroleum and other liquids was 100.6 million barrels per day. Extreme temperatures both cold and hot conditions, contact with water & moisture, and chemical & gas interaction may cause defects to pipe as well as content flowing through pipe. These defects can cause calamities or catastrophe. To prevent these pipes in oil & gas industry need to be insulated. Moreover, pipe also needs to be insulated during the shipping and transportation to protect them from damage and breakage. Thus, growing demand for oil & gas has anticipated to surge the demand for pipe insulation market during the forecasted period.
Market Challenge:
Various raw materials such as rockwool, fiberglass, silicate, polyurethane, rubber and amongst others are used in insulation of pipe. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the forecast period. Easy availability of raw materials and overstocking of the same by countries with raw material producers is resulting in demand and supply gap resulting in price fluctuation. Moreover, geographical factors such as trade war, and amongst other may also hamper the growth of pipe insulation market.
The report on the pipe insulation market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Material, Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Pipe Insulation Market, by Material
Pipe Insulation Market, by Application
Pipe Insulation Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PIPE INSULATION MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY