New York, NY -- (SBWIRE) -- 01/15/2021 -- Growing demand for pipe insulation from oil-producing countries, along with the introduction of stringent regulations to insulate pipelines, is the key factor stimulating industry growth.
Market Size – USD 8.81 Billion in 2019, Market Growth - CAGR of 3.6%, Market Trends – Extensive research and development activities for insulation pipes.

The Global Pipe Insulation Market size is estimated to register a CAGR of 3.6% and attain a market value close to USD 11.68 billion by 2027. The market growth is driven by the imposition of stringent regulations by regional governments and other international authorities for pipe insulations to avert industrial or environmental hazards.

The pipe insulation offers a protective coating to pipeline in networks to moderate heat loss during the flow. These pipes are also used for soundproofing, prevention of freezing, and condensation control applications. Industries like chemical manufacturing and oil refineries are mandating the insulation of pipelines.

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Factors like high disposable income, industrialization in countries like China and India, advanced industrial production, and complex consumer goods are bolstering the global adoption of pipe insulations for various applications. Growing awareness regarding the vulnerability of workers in industries and associated stringent regulations for the same has urged manufacturers to install pipe insulators. Moreover, the advancement in research to introduce newer and advanced properties in the insulation cables will foster pipe insulations market share over the forecast period. However, highly volatile cost of raw materials, quality check issues, and budgetary constraints may hinder industry growth.

Companies profiled in the market:
Saint Gobain, Owens Corning, Rockwool International, Kingspan Group, Huntsman Group, BASF SE, Paroc Group Johns Manville, Aramcell and K- flex.

Further Key Findings from the Report

- The Global Pipe Insulation Market size is estimated to register a CAGR of 3.6% and attain a market value close to USD 11.68 billion by 2027. Market growth is driven by the imposition of stringent regulations by governments and other international authorities for pipe insulations to avert industrial or environmental hazards.
- Market growth is also fuelled by industries like food & beverage and oil, which extensively uses pipeline networks for their production processes. Furthermore, large-scale industrialization and vulnerability to industrial disasters with reactive chemicals or oil in pipelines are resulting in increased insulation demand.
- Several countries across the globe use pipe insulations for district heating and district cooling systems. Countries like U.A.E. utilize district cooling systems with the help of pipe insulations. Countries with extremely cool climates like Poland and Russia extensively utilize district heating systems, contributing considerably to the global pipe insulation market share.
- In the regional landscape, Asia Pacific is dominating the pipe insulation market revenue share owing to the rapid industrialization, high disposable income and other demographic factors. North America holds the second-largest share of nearly 27% globally.
- The least share is bagged by Latin American countries of nearly 2.8% through the forecast period. Brazil is an emerging market for pipe insulations but at a relatively slower rate. These countries may offer untapped opportunities due to the adoption of primitive methods of production and lack of awareness regarding safety measures.

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Segments covered in the report:
For the purpose of this study, the global pipe insulation market has been segmented on the basis of type, end-use, application, and region:

Type Outlook (Revenue, USD Million; 2017–2027)
- Fibreglass
- Rockwool (Mineral wool)
- Elastomeric Foam
- Polyurethane Foam
- Others

End-Use Outlook (Revenue, USD Million; 2017–2027)
- Industrial segment
- Oil and refineries
- District energy systems
- Building & construction
- Others

Application Outlook (Revenue, USD Million; 2017–2027)
- Temperature control
- personal protection
- Prevention of corrosion.
- Prevent heat loss.
- Others

Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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