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Pipe Insulation Market Size – USD 9.52 Billion in 2020, Growth – at a CAGR of 3.6%, Trends – Increasing industrialization in developing countries
NEW YORK CITY, NEW YORK, UNITED STATES, November 29, 2022 /EINPresswire.com/ — 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 the recent past owing to increasing focus on energy efficiency and need to reduce carbon footprint.
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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.
Major players in the market include Owens Corning, Thermaxx Jackets, Saint-Gobain, Armacell International S.A., Huntsman Corporation, Johns Manville, Knauf Insulation, BASF SE, Armacell International SA, and Covestro AG.
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Type Outlook (Revenue, USD Billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
Oil and Refineries
District Energy Systems
Building & Construction
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Pipe Insulation Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Pipe Insulation Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Pipe Insulation Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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