Pipe Insulation Market

Pipe Insulation Market Size (2024 to 2029)

The Global Pipe Insulation Market was worth US$ 11.28 billion in 2024 and is anticipated to reach a valuation of US$ 14.98 billion by 2029 and is predicted to register a CAGR of 5.7% during 2024 to 2029.

Pipe insulation is a procedure of pipe insulation with a combination of composites that shields pipes. It also prevents heat gain or loss from pipe surfaces and helps them maintain temperature. Foam envelopes, certain coatings, flexible films, and other rigid insulation materials are used in the pipe insulation process to protect pipes not only from heat but also from water or moisture, corrosion, chemical interactions, or other damage and breaks. Insulation products are widely used in many industries.

Pipeline insulation is done to minimize heat loss. It is mainly performed in industrial areas, where the operating temperature is lower or higher than the normal temperature. The method of insulating industrial pipes is to reserve energy by minimizing heat loss, which frequently occurs in factories and manufacturing facilities. In addition to minimizing heat loss, industrial insulating pipes also prevent the condensation of water (steam) on the surface, which can eventually cause corrosion. decreases damage to machinery and devices in the corrosive atmosphere, that is caused by a hot atmosphere. By keeping an ambient atmosphere, the insulation of industrial pipes also escalates the operational and production efficiency of the equipment.

Pipe insulation is a material or combination of materials that add a protective coating to pipes and reduces heat loss or heat gain from surfaces that operate at temperatures above or below ambient temperature. Growing oil production in countries like the United States, Saudi Arabia, Iran, and Russia is driving demand for pipe insulation. Furthermore, the presence of strict regulations for insulating pipes stimulates the demand for pipe insulation. The global market for industrial pipe insulation is expected to experience significant growth in the future due to rapid industrialization.

Market Drivers and Restraints

Increased stringent pipe insulation regulations and increased oil production are believed to be the drivers of the global pipe insulation market. Constant fluctuations in temperature, contact with moisture and water, and chemical interactions cause damage to uninsulated pipes and also to the materials that pass through them. The pipe insulation process also protects pipes from breakage during shipping. The extreme compressive strength and non-flammable nature of insulation composites are predicted to boost the global pipe insulation industry. Increased applications of pipe insulation products in various end-use industries, increased worker awareness, and environmental safety are expected to drive the growth of the global pipe insulation market.

Pipe insulation products provide long-term efficiency and durability to manufacturing plants. The global market for industrial pipe insulation is expected to experience significant growth in the future due to rapid industrialization. The need for industrial pipes by various sectors, such as chemicals, oil, and gas, energy and electricity, etc., also stimulates the growth of the world market for the isolation of industrial pipes in the current scenario. Industrial pipe insulation helps minimize heat loss at manufacturing sites and facilities and helps maintain an ambient temperature to maintain effective levels of equipment performance. Furthermore, the strict regulations formulated by various government bodies regarding the safety and protection of workers also favor the growth of this market. Nevertheless, the high initial fund prices related to industrial insulating pipes and the threat of substitutes can hinder the expansion of this market.

Impact of COVID-19 on the Pipe Insulation Market

The covid-19 pandemic had an immense impact on the global pipe insulation market in the last quarter. Two out of five BSE500 companies reporting March quarter results reported losses or a fall of more than 20% in quarterly earnings, raising concerns about further declines as earnings season peaks. Data compiled from the Ace Equity database of companies showed that 12 companies reported losses for the quarter, 24 reported a drop in earnings from 20 to 97%, while another 16 reported a decrease that varies up to 20% in their results. . In total, 51 of the 87 companies reporting earnings experienced a drop in profit (or loss). Firms that have reported huge losses include energy producers Reliance Power and Adani Power, private lenders Axis Bank and RBL Bank, and real estate firms Mahindra Lifespaces and Indiabulls Real Estate, in others. Despite recent revisions to consensus earnings estimates, India still experienced slower downgrades than its emerging market counterparts.

 REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Pipe Insulation Market Analysis By Application

Based on application, the industrial sector is predicted to showcase a major expansion on the basis of revenue in the target market over the foreseen period.

Based on material type, the Rockwool material sector is predicted to hold for the largest expansion on the basis of revenue in the global pipe insulation industry over the foreseen period.

REGIONAL ANALYSIS

Asia Pacific is predicted to be the biggest pipe insulation industry in 2020 and is predicted to continue to lead the industry until 2025 due to expansion in businesses in the region's growing economies such as China and India. Escalating disposable income per capita, fast urbanization, and rising call for district energy systems are predicted to augment the expansion of the pipe insulation industry. In addition to that, high expansion in several businesses like pharmaceuticals, food processing, and chemicals is predicted to augment the call for pipe insulation in the region. The world market for pipe insulation may have grown steadily in the past two years due to tremendous growth in the construction, industrial and agricultural sectors. Europe is expected to offer significant growth opportunities in the global industrial pipe insulation market in the future due to strict worker safety at manufacturing facilities in the region and the presence of dominating firms throughout the region. The Latin American Middle East and African industry is predicted to experience high revenue expansion in the global pipe insulation industry throughout the outlook period.

KEY PLAYERS IN THE GLOBAL PIPE INSULATION MARKET

The global pipe insulation market is concentrated with well-established players. Key players in the market include Rockwool Intern national A/S (Denmark), Owens Corning (US), Saint-Gobain (France), Kingspan Group (Republic of Ireland), Armacell International S.A. (Germany), Huntsman Corporation (US), Knauf Insulation (US), BASF SE (Germany) and Covestro AG (Germany).

RECENT HAPPENINGS IN THE MARKET

The latest pipe insulation app was introduced. The new WRAS Pipe Insulation Tool is a free and easy-to-use app for designers, installers, and landowners to assess the effectiveness of insulation to delay water freezing in pipes. Entering certain key information will reveal the number of hours of protection you can expect from the insulation. By varying the thickness or type of material, you can calculate the amount of insulation required for a given set of frost conditions, with the goal of getting at least 12 hours of protection in response at the bottom of the worksheet.

• HSM PTI launched novel next-generation engineered foam pipe insulation. PTI, a fragment of HSM and key manufacturer of pipe insulation for the plumbing and HVAC industries, is introducing the second generation of its proprietary extruded engineered foam insulation product line.

DETAILED SEGMENTATION OF THE GLOBAL PIPE INSULATION MARKET INCLUDED IN THIS REPORT

This research report on the global pipe insulation market has been segmented and sub-segmented based on type, application and region

By Type

• Fiberglass pipe insulation

• Fiberglass board and blanket insulation
• Rockwool pipe insulation
• Rockwool blanket insulation

 By Application

• Temperature Control
• Prevent Heat Loss
• Corrosion Prevention
• Industrial
• Others

By Region

• North America 
• Europe
• Asia Pacific 
• Latin America