Pipe Insulation Market To Reach USD 11.5 Billion By 2027 | CAGR 3.1% – Forencis Research

Pipe Insulation Market - Global Industry Analysis and Forecast 2020 to 2027

Global Pipe Insulation Market: Key Highlights

  • According to the new market research report Pipe Insulation Market by Material (Fiberglass, Rockwool, Silicates, Polyurethane, Rubber Foams, Others), by Application (Oil & Gas, Building & Construction, Transportation, General Industries, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global pipe insulation market is estimated to reach USD 11.5 Billion by 2027 at a CAGR of around 3.1% during the review period.
  • The process of insulating pipes with foam wraps, flexible films, some coatings or any other rigid insulation products to protect them from heat, water or moisture, chemical interactions, corrosion, breakage or damages during shipping, and others is known as pipe insulation
  • Thermal stability, minimize energy wastage, minimize condensation, and prevent injuries are some of the benefits offered by pipe insulation
  • Pipe insulations products are available in various different materials and can be rigid as well as flexible 

Pipe Insulation MarketGlobal Pipe Insulation Market: Key Market Dynamics

  • Growing demand for oil & gas has anticipated to surge the demand for pipe insulation market during the forecasted period
  • Stringent environmental regulation in developed economies has expected to propel the growth of pipe insulation market  
  • Volatility in raw material prices owing to factors such as easy availability and overstocking by countries with abundant raw materials has expected to hamper the market growth

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Global Pipe Insulation Market: Regional Overview

  • North America

North America is expected to grow at a substantial rate in pipe insulation market owing to the rapidly growing oil & gas industry coupled with rising number of oil exploration & production activities. According to the U.S. Energy Information Administration (EIA), the annual crude oil production in the U.S. was 12.2 million barrels per day in 2019. Moreover, presence of major market players and stringent regulatory standards are some other factors attributing towards the growth of market in the region. 

  • Asia-Pacific

The Asia-Pacific is anticipated to be the fastest growing region in pipe insulation market during the forecasted period. This is attributed to rapid industrialization in the region owing to low production cost, lucrative investment policies, and in expensive labor.  Additionally, growing end-use industries such as automotive, building & construction, power, chemical, oil & gas, 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.

Global Pipe Insulation Market: Key Players Overview

  • Saint-Gobain:

Saint-Gobain is engaged in designing, manufacturing, and distributing material and solutions. The company is represented in more than 70 countries across the globe. In 2019, Saint-Gobain generated sales of USD 50.06 billion. In October 2018, Saint-Gobain acquire 100% equity capital of Kaimann, one of the Europe’s leading manufacturer of elastomeric insulation products. This acquisition will help the company to enhance the range of insulating solution and will strengthen its presence in segment of technical insulation.

  • Huntsman International LLC:

Huntsman International LLC is a global manufacturer & marketer of differentiated and specialty chemicals. The company operates in four business segments including polyurethanes, advanced materials, performance products, and textile effects. Huntsman International LLC offers diverse range of consumer and industrial end markets including automotive & transportation, aerospace, building & construction, energy, and textile. In September 2019, the company opened new polyurethanes systems house in Dubai. This polyurethanes foam is used in insulation helping the company to strengthen its capabilities in Middle East and North Africa.

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Rep Id : CM 0162

Published : 2020-09-22

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