Pipe Insulation Market Size, Revenue Share, Drivers & Trends Analysis, 2020–2028

Pipe Insulation Market Size – USD 9.52 Billion in 2020, Market Growth – at a CAGR of 3.6%, Market Trends – Increasing industrialization in developing countries

The global pipe insulation market size is expected to reach USD 12.72 Billion in 2028 and register a revenue CAGR of 3.6% over the forecast period, according to the latest report by Reports and Data. Demand for district energy systems, rapid industrialization in developing countries, increasing concerns about energy efficiency, and increasing oil production in the U.S., Saudi Arabia, Iran, and others has been driving steady revenue growth of the global pipe insulation market in the recent past. In addition, rising demand for thermal insulation in various industrial sectors increasing focus on green buildings due to the various benefits and advantages are other key factors expected to continue to drive market revenue growth going ahead. Pipe Insulations are a type of material or combination of materials used to create a protective layer around pipes to maintain internal temperature. Deployment of thermal insulation solutions have been increasing in tshe recent past owing to increasing focus on energy efficiency and need to reduce carbon footprint.

Pipe insulation products are commonly used in the industrial sector, oil fields and refineries, district energy systems, buildings and constructions, and others. Industrial application segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing demand for thermal insulation in food processing and chemical industries, and increasing industrialization in developing countries. Ongoing technological advancements and increasing funding by private investors in technological research and development activities are some key factors expected to drive revenue growth of the global pipe insulation market over the forecast period.

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Some Key Highlights From the Report:

  • In March 2021, va-Q-tec and Uponor launched an insulated system for local heating networks, Uponor Ecoflex VIP. It helps to reduce CO2 emissions, and comes with Vacuum Insulation Panels (VIPs) that offer enhanced flexibility and minimize installation time.
  • Rock wool segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing application of rock wool due to its various benefits such as cost-effectiveness, eco-friendly, and non-flammable nature.
  • North America is expected to register significantly larger revenue share over the forecast period. Rapid technological advancements and rising preference for green building are some major factors driving revenue growth of the market in this region.

For the purpose of this report, Reports and Data has segmented the pipe insulation market based on type, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

  • Fiberglass
  • Rock wool
  • Elastomeric Foam
  • Polyurethane Foam
  • Others

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End-Use Outlook (Revenue, USD Billion; 2018-2028)

  • Industrial Sector
  • Oil and Refineries
  • District Energy Systems
  • Building Construction
  • Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America 
    • U.S. 
    • Canada 
    • Mexico 
  • Europe 
    • Germany 
    • U.K. 
    • France 
    • Italy 
    • Spain
    • Sweden
    • BENELUX 
    • Rest of Europe 
  • Asia Pacific 
    • China 
    • India 
    • Japan 
    • South Korea 
    • Rest of APAC 
  • Latin America 
    • Brazil 
    • Rest of LATAM 
  • Middle East Africa 
    • Saudi Arabia 
    • U.A.E. 
    • South Africa
    • Israel 
    • Rest of MEA  

Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:

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Unitary Material Market Analysis @ https://www.reportsanddata.com/report-detail/unitary-material-market

Water-based PUR-system Market Worth @ https://www.reportsanddata.com/report-detail/water-based-pur-system-market

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