Future Market Insights (FMI) has forecasted the Industrial Pipe Insulation Materials market to grow with a year on year growth of 4.6% in 2022 reaching a value of about USD 1,438.8 Million by 2022 end. The market is anticipated to witness a considerable CAGR of 4.1% between 2022 and 2028.
| Attribute | Details |
|---|---|
| Industrial Pipe Insulation Materials Market Size (2022E) | USD 1,438.8 million |
| Projected Industrial Pipe Insulation Materials Sales (2028F) | USD 1,835.2 million |
| Industrial Pipe Insulation Materials Market Growth Rate (2022-2028) | 4.1% |
| Collective Share of Top 3 Countries in Terms of Value (2022E) | 37.1% |
Globally, there has been a prominent shift in the market towards the development of environment friendly insulation materials and the utilization of recycled products. With the continuous increase in environmental concerns, manufacturers are increasingly adopting eco-friendly alternatives for insulation materials, such as cellulose, mineral wool, etc.
Explore FMI!
Book a free demo
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.8% |
| H1,2022 Projected (P) | 4.5% |
| H1,2022 Outlook (O) | 4.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 50 ↓ |
Future Market Insights presents a half-yearly comparison and insightful analysis of the industrial pipe insulation materials market growth rate with the latest developments in the market. Booming demand for advanced & efficient insulation materials which are applied for reducing energy consumption is driving up sales of industrial pipe insulation materials.
Some of the key trends that have been noticed in the market includes key players’ focus on providing cost-effective and high-quality insulation materials in order to expand their global and regional footprints and gain market leadership.
The variation between the BPS values observed in the industrial pipe insulation materials market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 20 units, according to FMI analysis. In comparison to H1-2021, the market is expected to again fall by 50 basis points in H1-2022.
The slow uptake of the market during the first half of the forecast period is attributed to the high cost associated with the industrial pipe insulation materials and the availability of substitute products such as electric trace heating.
Despite these challenges, the industry has some bright spots, such as adoption of heating systems in the industry, technological advancements, environmental awareness, and rising electricity tariffs, all of which are expected to help to drive the global market growth.
Sales of industrial pipe insulation materials have been consistently growing owing to the increasing demand across various end-use industries to reduce energy consumption. Increase in the demand for efficient and advanced insulation materials across several end use industries especially chemicals and metal manufacturing is leading to high growth rate of the market.
The market growth for industrial pipe insulation materials between 2013 and 2021 remains 4.1%. However, the market for industrial pipe insulation materials is expected to grow significantly due to increased industrial activity, regional government regulations to reduce energy consumption, and other factors.
According to the projections by Future Market Insights, the market is expected to reach USD 1,835.2 Million by the end of 2028.
The important properties and benefits provided by insulation materials, such as high water vapour permeability, moisture retention, low VOC emission, and thermal conductivity, are leading to high demand from a wide range of end-use industries. Also, these materials tend to reduce the overall energy consumption of production units while also increasing profitability margins for manufacturers.
Fiberglass, cellular glass, and polyurethane are some of the finest insulation materials used across the industry for pipe insulation owing to their low price, easy installation, low payback period, long life, and low maintenance. Furthermore, it provides excellent properties such as fire protection, high compressive strength, and safety for labour while working on production floors.
With advancements in technology and changing consumer preferences, players in the US market are introducing new and advanced insulation materials to catch up with the changing demand from end-users. For instance, Aspen Aerogels, Inc. introduced an aerogel-based insulation material with low thermal conductivity, significantly reducing the amount of material required for insulation. Further, companies are developing innovative materials with high resistance to corrosion and high fire resistivity to cater to the changing end-use specifications.
In 2022, the industrial pipe insulation materials market in the USA is expected to register a 4.4% year-on-year growth rate. Also, the country is expected to represent an incremental opportunity of USD 71.2 Million in the forecast period.
The development of high-performance and cost-effective insulation materials could increase the adoption of industrial pipe insulation materials in the Indian market. Further, rising energy prices and the increasing importance of energy-saving measures are resulting in the increased adoption of industrial pipe insulation materials in India. The market in India is majorly driven by the growing chemical and metal manufacturing industries.
Owing to these factors, the industrial pipe insulation materials market in India is projected to grow at a CAGR of 5.2% between 2022 and 2028 and reach a valuation of USD 68.1 Million by 2028.
Rising awareness in China about the benefits of insulation in achieving energy efficiency, rapid industrial growth, and economic development is contributing to the increasing demand for industrial pipe insulation materials. Also, rising energy prices are increasing the importance of insulation materials across upstream and downstream in the oil and gas industry, which is expected to boost the growth of the industrial pipe insulation materials market in China.
Globally, China is anticipated to remain one of the leading markets in terms of sales as well as production of industrial pipe insulation materials globally. The market is projected to grow by a 4.9% CAGR in terms of value during the assessment period of 2021–2031. In terms of value, the polyurethane segment is expected to dominate the industrial pipe insulation materials market in China. The polyurethane segment accounts for approximately half of the market share in China due to its excellent properties compared to other material types.
The low temperature and cryogenic insulation properties of polyurethane-based insulation materials across the upstream industry are expected to drive the market during the forecast period. The segment is experiencing lucrative growth and is expected to register a year-on-year growth rate of 5.2% in 2022. It is expected to hold more than one-third of the market value in 2022. This segment is expected to continue its dominance in the near future owing to its significant properties such as lower thermal conductivity, high moisture and air retention capabilities, etc.
Increasing adoption of heating systems in industrial environments, technological innovations, rising electricity tariffs, and regional governments' increasing focus on environmental awareness are some of the key factors spurring market growth globally. Also, increasing investments in the expansion of liquefaction terminals, especially in the North America region, are expected to drive the industrial pipe insulation materials market demand in the assessment period.
Furthermore, the presence of key manufacturers and service providers in the market, coupled with the easy availability of raw materials and installation processes, has resulted in strong growth in the highly competitive market.
Some of the key strategies adopted by the players include focusing on sustainable development to increase regional as well as global market share and attain a leadership position in the market. Majority of the players are focusing on providing cost-effective and high-quality insulation materials to process fluid lines to avoid temperature loss while simultaneously increasing product yield.
For Instance,
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South East Asia & Pacific; China; Japan; MEA |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, Poland, BENELUX, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa, |
| Key Segments Covered | Material Type, Product Type, End Use and Region |
| 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global industrial pipe insulation materials market is projected to reach a valuation of USD 1,835.2 million by 2028.
The industrial pipe insulation materials market is likely to record a CAGR of 4.1% through 2028.
By material type, the market is categorized into fiberglass, mineral wool, cellular glass, polyurethane, polystyrene, and others, with polyurethane governing the market.
The United States is ruling the market and is projected to offer a USD 71.2 million opportunity by 2028.
China is poised to remain a key global market for industrial pipe insulation materials, with an anticipated 4.9% CAGR through 2028.
The India industrial pipe insulation materials market is likely to record a CAGR of 5.2% through 2028.
Competitors in the industrial pipe insulation materials market are focusing on product innovation and strategic partnerships for growth.
United States Countertop Market Analysis by Material Type, End-use, and Region 2025 to 2035
Wind Power Coatings Market Growth - Trends & Forecast 2025 to 2035
Tin Fluoborate Market Growth - Trends & Forecast 2025 to 2035
Para-tert-Octylphenol (POTP) Market Growth - Trends & Forecast 2025 to 2035
Valeronitrile Market Growth - Trends & Forecast 2025 to 2035
Structure Directing Agents Market Growth – Trends & Forecast 2025 to 2035
Industrial Pipe Insulation Materials Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
