Stratview Research announces the launch of the Pipe Insulation market report which aims to deliver comprehensive information on the market by considering several aspects of market research and analysis such as market size valuations, market dynamics, positioning and segmentation, competitive landscaping, opportunity analysis.
The pipe insulation market was estimated at USD 2.31 billion in 2022 and is likely to grow at a significant CAGR of 3.8% during 2022-2028 to reach USD 2.89 billion in 2028.
What is pipe insulation?
Pipe insulation is a material or combination that adds a protective covering to pipes and reduces the heat loss or heat gain from surfaces operating above or below the surrounding temperature.
Pipe Insulation materials are of different types, such as Rockwool, polyurethane & polyisocyanurate foam, fiberglass, elastomeric foam, and others, used in various applications, such as industrial, oil, district energy systems, building & construction, and others.
The spread of covid-19 negatively impacted the pipe insulation market. The major factors leading to a decline in sales were supply-chain disruption and lockdowns and restrictions across the globe.
The report focuses on market based on demographics, geography, features, and volume, among other things, and determines the most appealing segments and sub-segments. The segmentation has been based on the fact that it will not only help businesses save time, money, and other resources, but it will also allow businesses to learn more about their target audience in order to adapt campaigns and gain market share and income.
The report on Pipe Insulation by Stratview Research helps clients in discovering the simplest opportunities to achieve success within the market with effective methods of research used while formulating the market report.
The market is segmented as industrial, oil, district energy systems, building & construction, and other applications based on the application type. The industrial segment holds the largest market share, followed by the oil segment, in terms of value. Rapid industrialization in developing economies such as APAC and South America; and the necessity to insulate pipelines used in various process industries are the major growth drivers of the industrial segment during the forecast period.
The market is segmented as rockwool, polyurethane & polyisocyanurate foam, fiberglass, elastomeric foam, and others based on the material type. The rockwool material type is expected to rule the market during the forecast period, in terms of value, owing to its non-flammable nature and high compressive strength, which drive its demand in various applications. Adding to its properties is its sustainability, as it does not cause any harm to the environment.
In terms of regions, Asia-Pacific is estimated to be the largest pipe insulation market during the forecast period, owing to the growing industries in the region’s emerging economies, such as China and India. They are driven by the rising per capita disposable income, rapid urbanization, and growing demand for district energy systems, creating high growth for the market. Adding to the growth drivers is the high growth in various pharmaceuticals, food processing, and chemical industries.
The study conducted while compiling this market report analyses the market status, share, rate of growth, present and future trends, market drivers, opportunities and challenges, risks within the industry. This market research report delivers full knowledge about the market and competitive landscape.
The prime factor that is contributing to the demand for pipe insulation market is-
- The growing production of oil in countries such as the US, Saudi Arabia, Iran, and Russia,
- The presence of stringent regulations to insulate pipelines.
Some of the major players in the market are-
- Rockwool International A/S
- Armacell International Holding GmbH
- Kingspan Group plc
- Owens Corning
- Saint-Gobain S.A.
- Huntsman Corporation
- Johns Manville
- Knauf Insulation
- BASF S.E.
- Covestro AG
Attributes of the market report:
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value, critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. Furthermore, we have thoroughly leveraged our huge database, gathered during the preparation of our comprehensive reports on the Pipe Insulation market, in order to take the veracity of market estimations to the next level.
The following are the key features of the report:
- Comprehensive overview of market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend & forecast analysis
- Recent market segment forecast
- Competitive landscape and dynamics: Market share, product portfolio, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
- In-depth market segmentation (Trends, Growth with Historical & Forecast Analysis)
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Stratview Research is one of the leading global Market Research agencies helping clients tract the ever-evolving market scenarios through customised and syndicated reports. Our reports include both quantitative and qualitative market data, gathered with the help of our across-the-board and reliable secondary sources and our in-depth interviews with the key players within the market. Our market valuations, derived from primary and secondary research, keep our clients informed about major market trends, opportunities, and challenges that may help or hamper their growth prospects in the industry.