Growing awareness about the advantages offered by mechanical insulation in recent years resulted in increasing adoption by industries worldwide. Industrial pipe insulation materials constitute a crucial part of the mechanical insulation industry, which has also witnessed steady growth in the recent past. Growing focus on reduced energy conservation and greenhouse gas emission, coupled with multiple government initiatives promoting energy efficiency and sustainable development through advanced insulation technologies, is expected to favor the growth of the global industrial pipe insulation material market. The use of recycled insulation materials is trending in the market at present, owing to rising environmental concerns. A majority of manufacturers are focusing on using sustainable materials such as polyurethane foam and fiberglass.
As predicted by Future Market Insights through a recently published research report, the global revenue of the industrial pipe insulation material market is likely to reach a valuation of over US$ 1,835.2 million by the end of 2028. The market expansion over 2022-2028 has been estimated at a CAGR of 4.1%.
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The industrial pipe insulation market includes pipe insulation adopted by process industries, refineries, thermal power plants, refrigeration and HVAC applications, and food processing units. The growth of industrial activity strongly impacts the demand for pipe insulation materials worldwide, as insulation systems play a critical role in safeguarding the system’s performance in various end-use spheres. Furthermore, increasing energy cost also proves to be an important factor impacting the growth of the industrial pipe insulation material market. Energy conservation equates to reduced energy costs, which in some cases amounts to several hundred dollars (in savings) per annum. As a result, insulation is expected to become even more significant, resulting in higher adoption by a number of industries, including oil & gas, energy generation, chemical, and food & beverages, among others.
Stringent Regulations to Boost North American and European Markets
North America is expected to attain a value in excess of US$ 71.2 Million by the end of 2028, prominently due to the increasing implementation of stern regulations across industries. Moreover, bolstering demand from the European region is anticipated to be driven by the growing need for insulation systems specifically designed for the cold weather of the region. Whereas, China’s rampant industrial growth will continue to enable the region to significantly contribute to global market growth.
Upsurge in Material Innovation & Increase in Old Pipe Replacement to Create Lucrative Opportunities
The surge in the replacement of aged pipes, in addition to growing innovation in materials used in the insulation of industrial pipes, will reportedly create attractive opportunities for manufacturers in the near future. Lack of proper insulation leads to significant energy loss, eventually resulting in additional costs to businesses. The amount of energy lost through improperly insulated pipes can be 10x the energy that can be potentially delivered through them. Moreover, unchecked damages in aged pipelines lead to leakages, resulting in loss of materials. Also, the decoration of pipe insulation along with pipes contributes to an increase in energy loss, further contributing to environmental pollution. Manufacturers are focusing on the development of anti-corrosive and anti-abrasion materials, sustainable and eco-friendly materials, and energy-saving and cost-effective materials. Moreover, companies are expected to introduce various insulation materials, which can offer thermal resistance, prevent pinhole leaks, reduce carbon footprint, provide UV resistance, and protect against fungal infections.
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Key Companies Profiled
- Rockwool International A/S
- SAINT-GOBAIN
- Armacell International S.A
- Owens Corning Insulating Systems, LLC
- Knauf Insulation
- Kingspan Group plc
- Johns Manville Corporation
- ContiTech AG
- Dyplast Products Llc
- ITW Insulation Systems
- BASF SE
- Huntsman
- Aeroflex USA, Inc
- L’ISOLANTE K-FLEX S.p.A
- Shanghai ABM Rock Wool Co., Ltd
Industrial Pipe Insulation Materials Market by Category
By Material Type:
- Fiberglass
- Mineral Wool
- Cellular Glass
- Polyurethane
- Polystyrene
- Others
By Application:
- Prefabricated
- Rolla & Batts
- Spray
By End Use:
- Chemicals
- Food & Beverages
- Oil & Gas
- Power
- Metal Manufacturing
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia & Pacific
- China
- Japan
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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