Pipe Insulation Market Size Worth $12.91 Billion By 2032 | CAGR: 5.50%

Pipe Insulation Market Size Worth $12.91 Billion By 2032 | CAGR: 5.50%

The global pipe insulation market size is expected to reach USD 12.91 billion by 2032, according to a new study by Polaris Market Research. The report “Pipe Insulation Market Share, Size, Trends, Industry Analysis Report, By Material (Cellular Glass, Polyurethane & Polyisocyanurate Foam, Fiberglass, Elastomeric Foam, and Others); By Application; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Oil & gas pipelines globally have significantly developed in the recent years due to rise in the pipeline infrastructure and growing exploration of oil & gas along with the increasing adoption of product, as it reduces the energy consumption and could last longer as compared to other insulation material choices available in the market, are primary factors driving the global market growth. Increasing popularity for green buildings and renovation of the existing buildings along with sure in the new construction projects and other related interior developments across both commercial and residential sectors and focus on improving efficiency of solutions by implementing on research & development activities, which create huge market growth opportunities.

For instance, in January 2023, ROCKWOOL Technical Insulation, unveiled its new next-generation ProRox Mat MA 960 with WR-Tech for large-diameter pipework, columns, and vessels. It incorporates the company’s water repellency technology that provides better protection against corrosion under insulation by keeping surfaces dry.

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Globally, there has been a prominent shift towards the development and improvements of environment friendly insulation materials and utilization of several types of recycled products. With the continuous change in climatic conditions and growing environmental concerns, manufacturers all over the world are increasingly adopting eco-friendly alternatives including cellulose and mineral wool among others, that results in booming demand and adoption for the product at rapid pace. The constant fluctuation in the temperatures, contact with moisture and water, and growing chemical interactions that cause damages in non-insulated pipes and materials passing through it, thus the adoption of pipe insulation is rapidly surging as it helps in addressing this kind of issues and also protects the pipes from breakage during the time of shipment by providing support to the pipes form externally as well as internally.

Pipe Insulation Market Report Highlights

  • Polyurethane & polyisocyanurate foam segment accounted for major market share in 2022, which is mainly accelerated by increasing utilization of this material in several insulation applications, as it offers excellent dimensional stability
  • District energy systems segment is expected to grow at a highest CAGR during the projected period, on account of growing adoption as an efficient solution for connecting waste heat, heat pumps, and renewables
  • Europe region held the largest share in 2022, owing to increasing investments in the building & construction activities and surge in the product demand from pharmaceutical sector in the region
  • The global key market players include Huntsman International, Saint-Gobain, Covestro, Wincell Insulation, NMC International, Gilsulate International, Sekisui Foam, Omkar Puf Insulation, Johns Manville, Owens Corning, Armacell, Lydall, Rockwool Insulation, Knauf Insulation, BASF, Kingspan, and Kaimann.

Polaris Market Research has segmented the pipe insulation market report based on material, application, and region:

Pipe Insulation, Material Outlook (Revenue - USD Billion, 2019 - 2032)

  • Cellular Glass
  • Polyurethane & Polyisocyanurate Foam
  • Fiberglass
  • Elastomeric Foam
  • Others

Pipe Insulation, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Industrial
  • Building & Construction
  • District Energy Systems
  • Others

Pipe Insulation, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa