Industrial Pipe Insulation Market by Type (Fiberglass Pipe Insulation, Fiberglass Board and Blanket Insulation, Rockwool Pipe Insulation, and Rockwool Blanket Insulation), by End-Use (Chemical, Oil & Gas, Automotive, Food & Beverages, Energy & Power, and Others), and by Application (Temperature Control, Prevent Heat Loss, Corrosion Prevention, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global industrial pipe insulation market expected to generate around USD 11 billion by 2025, at a CAGR of around 3.41% between 2019 and 2025. The global industrial pipe insulation market is likely to experience notable growth in the future, owing to rapid industrialization.

09-Apr-2019 | Number of pages: 110 | Report Code: ZMR-1813 | Report Format : | Status : Published

Analysis

Pipe insulation is done to minimize heat loss. It is mainly done in the industrial areas, where the operative temperature is below or above the normal temperature. The method of industrial pipe insulation involves reserving energy by minimizing heat loss, which occurs frequently in manufacturing plants and facilities. Other than minimizing the heat loss, industrial pipe insulation also prevents condensation of water (vapor) on the surface that can eventually cause corrosion. It reduces the damage to the machinery and equipment from the corrosive atmosphere, which is caused by heated surroundings. By maintaining an ambient temperature, industrial pipe insulation also increases the operational and production efficiency of machines.

The global industrial pipe insulation market is likely to experience notable growth in the future, owing to rapid industrialization. The need for industrial pipes by various sectors, such as chemical, oil and gas, energy and power, etc., is also driving the global industrial pipe insulation market growth in the present scenario. Industrial pipe insulation helps in minimizing heat losses in manufacturing sites and facilities and helps in maintaining an ambient temperature to maintain equipment efficient performance levels. Moreover, stringent regulations formulated by various governing bodies regarding the safety and security of workers are also fostering this market’s growth. However, the high initial investment costs involved with industrial pipe insulation and the threat of substitutes may hinder this market’s growth.

Global Industrial Pipe Insulation Market

Based on the type, the global industrial pipe insulation market is segmented into fiberglass pipe insulation, fiberglass board and blanket insulation, rockwool pipe insulation, and rockwool blanket insulation. On the basis of end-use, the market is categorized into chemical, oil and gas, automotive, food and beverages, energy and power, and others. On the basis of application, the market is sectored into temperature control, prevent heat loss, corrosion prevention, and others.

By region, North America contributed an extensive revenue share to the global industrial pipe insulation market in 2018, due to the rapidly growing oil and gas industry and the rising number of oil exploration and production activities. This, in turn, has led to the rising demand for industrial pipes and their insulation. This primary factor is anticipated to further the boost this regional market in the upcoming years. Additionally, the Canadian power generation sector is also predicted to provide potential growth opportunities in this regional market. Europe is expected to provide significant growth opportunities in the global industrial pipe insulation market in the future, owing to the stringent rules regarding the safety and security of workers at manufacturing facilities across the region and the presence of leading organizations throughout the region. 

Some key players of the global industrial pipe insulation market are Owens Corning, Johns Manville, Armacell, Knauf Insulation, Paroc Group, L'ISOLANTE K-FLEX, Ode Yalitim, Kaimann GmbH, Gilsulate International, Inc., and Praxair Technology, Inc.


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