Pipe Insulation Market to Gain Substantial Growth During the Forecast Period 2022-2030

Posted on 2023-01-11 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, Jan 12, 2023 — /EPR Network/ —

Pipe Insulation Industry Overview

The global pipe insulation market size was valued at USD 8.46 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030.

Rising consumer awareness pertaining to energy conservation among consumers is expected to fuel the market growth during the forecast period. The market witnessed a severe downfall in the investments in the industrial sector owing to the pandemic, thereby impacting the market. In addition, a dramatic fall in crude oil prices led to a drop in fiscal resources for oil-producing countries, which affected the product demand from the oil and gas sector. Increasing adoption of district heating systems owing to rising electricity tariffs, rising environmental awareness, and technological advances are expected to propel market growth in the U.S. In addition, rising investment in the expansion of gas liquefaction terminals is expected to drive the product demand over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Pipe Insulation Market

The presence of a large number of manufacturers and service providers, coupled with the easy availability of raw materials and easy installation processes, has resulted in high market competition. The price structure for pipe insulation varies with respect to production processes and raw materials used.

Growing demand for pharmaceutical and cosmetic products is driving the expenditure on capacity additions by major pharmaceutical companies. Process pipes form an integral component in these production facilities and are expected to generate significant demand for pipe insulation over the forecast period.

The manufacturers are largely dependent on reliable suppliers with high goodwill on account of past product procurement, making it moderately difficult for new entrants to penetrate the market. In addition, the market exhibits the presence of several well-established players with a strong financial base. This is anticipated to limit the entry of new market players. Moreover, high initial investments required to set up the business are expected to further restrict new entrants.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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Pipe Insulation Market Segmentation

Grand View Research has segmented the global pipe insulation market based on material, application, and region:

Pipe Insulation Material Outlook (Revenue, USD Million, 2017 – 2030)
- Cellular Glass
- Polyurethane & Polyisocyanurate Foam
- Fiberglass
- Elastomeric Foam
- Others
Pipe Insulation Application Outlook (Revenue, USD Million, 2017 – 2030)
- Industrial
- Building & Construction
- District Energy System
Pipe Insulation Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Pipe Insulation market include

Armacell
Lydall, Inc.
Kingspan Group
Owens Corning
Huntsman International LLC
Saint-Gobain Group
Rockwool Insulation A/S
Johns Manville
Knauf Insulation
BASF SE
Covestro AG
Wincell Insulation Co., Ltd.
NMC International SA
Gilsulate International, Inc.
Sekisui Foam Australia
Omkar Puf Insulation PVT. LTD.

Order a free sample PDF of the Pipe Insulation Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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