Pipe Insulation Market Information: By Type (Foamed Plastic, Elastomeric Foam, Mineral Wool, Fiber Glass), End-Use Industry (Chemical and Oil & Gas, Power, Automotive, Construction, Food & Beverages, Pharmaceuticals), And Region — Global Forecast Till 2023

Market Synopsis

The global pipe insulation market was valued at USD 8.54 billion in 2018 and is projected to grow at a CAGR of 3.6% during the forecast period. Pipe insulations are the insulation used especially on pipes to reduce heat loss or heat gain to or from the surrounding atmosphere and also to provide barrier against moisture and chemical. Pipe insulation are required to protect the pipes from corrosion and also to avoid pipe leakages during transportation and shipping. Various types of pipe insulation available in the market are foamed plastic, elastomeric foam, fiber glass, mineral wool, and others. The choice of the insulation type is mostly dependent on the required R-value and its affordability.

Growing oil & gas industry along with the increasing instances of cross border oil & gas transportation are driving the demand for pipe insulations. Stringent regulatory standards in developed economies are also supporting the global pipe insulation market. Increasing awareness about the increased durability of pipelines upon the usage of pipe insulation is further boosting the product market. Furthermore, rapid industrialization in Asia-Pacific is also expected to provide growth impetus to the product market during the forecast period.

Pipe Insulation Market Size to Expand at a Notable CAGR Of 3.6% During 2019 - 2023

Top Key Players Analysis

BASF SE (Germany)
Covestro AG (Germany)
Huntsman International LLC (US)
Rockwool International A/S (Denmark)
Saint-Gobain (France)
Armacell International SA (Luxembourg)
Owens Corning (US)
Thermaxx Jackets (US)
Cellofoam GmbH & Co. KG (Germany)
Great Lakes Textiles (US)
Kingspan Group (Republic of Ireland)
Knauf Insulation (UAE)
Wincell Insulation Co.Ltd (China)
Global Regions

The global pipe insulation market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.

Asia-Pacific accounted to be the largest and fastest growing market of pipe insulation market in 2018 and is expected to continue similar growth during the forecast period. Rapid industrialization in the emerging economies of Asia-Pacific such as China and India are contributing largely to the global pipe insulation market. Rapidly growing oil & gas industry in the region to reduce the dependence on import and achieve oil & gas self-sufficiency are likely to drive strong demand for pipe insulation in the region.

Additionally, cross border oil & gas transportation pipeline plans, for instance, on 24 March 2018, India announced its plan to build a diesel pipeline from the country's east coast to Myanmar, is also expected to boost the demand for pipe insulation. Furthermore, growing end-use industries such as chemical, food & beverages, pharmaceutical are also showcasing strong demand for pipe insulation. Growing power industry due to rising energy demand on account of rising population is also boosting the demand for pipe insulation in the region.

North America and Europe was collectively following Asia-Pacific in terms of market size in 2018. Stringent regulatory standards are supporting the global pipe insulation market in the region. However, due to the mature end-use industries in these regions, the pipe insulation market in these regions is expected to witness steady growth during the forecast period.

The Middle East & Africa is expected to exhibit significant demand for pipe insulation during the forecast period. Strong oil & gas industry is contributing largely to the product market and is expected to ensure stable revenue source during the forecast period. Additionally, the regional food & beverage industry is showing significant growth in the recent days due to the higher disposable income, changing food habits & culture, and growing demand for regional foods across the globe (chocolates, snacks), which thereby results in the increasing demand for pipe insulation in the region.

Latin America market held the least market share of the global pipe insulation market in 2018. Slow economic development is attributed to the low demand for pipe insulation in the region.

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Market Segmentation

The global pipe insulation market has been segmented by type, end-use industry, and region.

Based on type, the global pipe insulation market has been segmented into foamed plastic, elastomeric foam, fiber glass, mineral wool, and others.

On the basis of end-use industry, the global pipe insulation market has been categorized into chemical, oil & gas, power, automotive, building & construction, food & beverages, pharmaceutical, and others.

TABLE OF CONTENTS

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope Of The Study

2.3 List Of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics Of Global Pipe Insulation Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis Of Global Pipe Insulation Market

Continued. . . .

LIST OF FIGURES

FIGURE 1 Global Pipe Insulation Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis Of Global Pipe Insulation Market

FIGURE 4 Value Chain Of Global Pipe Insulation Market

FIGURE 5 Share Of Global Pipe Insulation Market In 2018, By Country

FIGURE 6 Global Pipe Insulation Market, 2016−2023,

FIGURE 7 Global Pipe Insulation Market Size, By Type, 2018

FIGURE 8 Share Of Global Pipe Insulation Market, By Type, 2016−2023

FIGURE 9 Global Pipe Insulation Market Size, By End-Use Industry, 2018

FIGURE10 Share Of Global Pipe Insulation Market, By End-Use Industry, 2016−2023

Continued. . . .