[244 Pages Report] 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 US$ 1,438.8 Mn 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) | US$ 1,438.8 million |
| Projected Industrial Pipe Insulation Materials Sales (2028F) | US$ 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.
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| 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 US$ 1,835.2 Mn by the end of 2028.
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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.
The demand for industrial pipe insulation materials market has faced a significant dip in the market owing to the breakdown of COVID-19 globally in early 2020. This led to the closing of borders for trade and new industrial activities in most of the regions.
In addition to this, disruption in supply chain network and non-availability of skilled labour restricted the industrial pipe insulation materials market's growth for a couple of quarters. However, to come out of these challenges, key players are focusing on incorporating agile supply chain networks into their businesses to continue operations in such scenarios.
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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 U.S. is expected to register a 4.4% year-on-year growth rate. Also, the country is expected to represent an incremental opportunity of US$ 71.2 Mn 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 US$ 68.1 Mn 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 | 2021-2031 |
| Historical Data Available for | 2013-2021 |
| 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 |
By Material Type:
By Application:
By End Use:
By Region:
The global industrial pipe insulation materials market is projected to reach a valuation of US$ 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 US$ 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.
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
2.3. Market Overview
3. Market Viewpoint Background
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
3.3. Global Economic Outlook
3.3.1. Global GDP by Region and Country, 2006–2021
3.3.2. Global Industry Value Added
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Trends
3.5. Value Chain Analysis
3.6. Forecast Factors – Relevance & Impact
4. Global Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
4.1. Market Volume (KT) Projections
4.2. Pricing Analysis
4.3. Market Size Projections
4.3.1. Y-o-Y Projections
4.3.2. Absolute $ Opportunity Analysis
5. Global Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028, by Material Type
5.1. Introduction
5.1.1. Market Value Share Analysis By Material Type
5.1.2. Y-o-Y Growth Analysis By Material Type
5.2. Historical Market Size (US$ Mn) and Volume (KT) By Material Type, 2013–2021
5.3. Market Size (US$ Mn) and Volume (KT) Forecast By Material Type, 2022–2028
5.3.1. Fiberglass
5.3.2. Mineral Wool
5.3.3. Cellulose
5.3.4. Polyurethane
5.3.5. Polystyrene
5.3.6. Others
5.4. Market Attractiveness Analysis By Material Type
6. Global Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028, by Product Type
6.1. Introduction
6.1.1. Market Value Share Analysis By Product Type
6.1.2. Y-o-Y Growth Analysis By Product Type
6.2. Historical Market Size (US$ Mn) and Volume (KT) By Product Type, 2013–2021
6.3. Market Size (US$ Mn) and Volume (KT) Forecast By Product Type, 2022–2028
6.3.1. Prefabricated
6.3.2. Rolls & Batts
6.3.3. Spray
6.4. Market Attractiveness Analysis By Product Type
7. Global Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028, by End Use
7.1. Introduction
7.1.1. Market Value Share Analysis By End Use
7.1.2. Y-o-Y Growth Analysis By End Use
7.2. Historical Market Size (US$ Mn) and Volume (KT) By End Use, 2013–2021
7.3. Market Size (US$ Mn) and Volume (KT) Forecast By End Use, 2022–2028
7.3.1. Chemical
7.3.2. Food & Beverages
7.3.3. Oil & Gas
7.3.4. Power
7.3.5. Metal Manufacturing
7.3.6. Other Industrial
7.4. Market Attractiveness Analysis By End Use
8. Global Industrial Pipe Insulation Materials Market Analysis and Forecast, By Region
8.1. Introduction
8.1.1. Market Value Share Analysis By Region
8.1.2. Y-o-Y Growth Analysis By Region
8.2. Historical Market Size (US$ Mn) and Volume (KT) By Region, 2013–2021
8.3. Market Size (US$ Mn) and Volume (KT) Forecast By Region, 2022–2028
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South East Asia & Pacific
8.3.6. China
8.3.7. Japan
8.3.8. Middle East & Africa
8.4. Market Attractiveness Analysis By Region
9. North America Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
9.1. Introduction
9.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
9.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
9.3.1. By Country
9.3.1.1. U.S.
9.3.1.2. Canada
9.3.2. By Material Type
9.3.3. By Product Type
9.3.4. By End Use
9.4. Market Attractiveness Analysis
9.4.1. By Country
9.4.2. By Material Type
9.4.3. By Product Type
9.4.4. By End Use
9.5. Drivers and Restraints: Impact Analysis
9.6. Key Participants Market Presence Intensity Mapping
10. Latin America Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
10.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
10.3.1. By Country
10.3.1.1. Brazil
10.3.1.2. Mexico
10.3.1.3. Rest of Latin America
10.3.2. By Material Type
10.3.3. By Product Type
10.3.4. By End Use
10.4. Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Material Type
10.4.3. By Product Type
10.4.4. By End Use
10.5. Drivers and Restraints: Impact Analysis
10.6. Key Participants Market Presence Intensity Mapping
11. Western Europe Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
11.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
11.3.1. By Country
11.3.1.1. Germany
11.3.1.2. United Kingdom
11.3.1.3. France
11.3.1.4. Italy
11.3.1.5. Spain
11.3.1.6. Benelux
11.3.1.7. Nordic Region
11.3.1.8. Rest of Western Europe
11.3.2. By Material Type
11.3.3. By Product Type
11.3.4. By End Use
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Material Type
11.4.3. By Product Type
11.4.4. By End Use
11.5. Drivers and Restraints: Impact Analysis
11.6. Key Participants Market Presence Intensity Mapping
12. Eastern Europe Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
12.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
12.3.1. By Country
12.3.1.1. Russia
12.3.1.2. Poland
12.3.1.3. Rest of Eastern Europe
12.3.2. By Material
12.3.3. By Material Type
12.3.4. By Product Type
12.3.5. By End Use
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Material Type
12.4.3. By Product Type
12.4.4. By End Use
12.5. Drivers and Restraints: Impact Analysis
12.6. Key Participants Market Presence Intensity Mapping
13. South East Asia & Pacific Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
13.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
13.3.1. By Country
13.3.1.1. Indonesia
13.3.1.2. Philippines
13.3.1.3. Thailand
13.3.1.4. Malaysia
13.3.1.5. Oceania
13.3.1.6. Rest of SEA & Pacific
13.3.2. By Material Type
13.3.3. By Product Type
13.3.4. By End Use
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Material Type
13.4.3. By Product Type
13.4.4. By End Use
13.5. Drivers and Restraints: Impact Analysis
13.6. Key Participants Market Presence Intensity Mapping
14. China Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
14.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
14.3.1. By Material Type
14.3.2. By Product Type
14.3.3. By End Use
14.4. Market Attractiveness Analysis
14.4.1. By Material Type
14.4.2. By Product Type
14.4.3. By End Use
14.5. Drivers and Restraints: Impact Analysis
14.6. Key Participants Market Presence Intensity Mapping
15. Japan Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
15.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
15.3.1. By Material
15.3.2. By Product Type
15.3.3. By End Use
15.4. Market Attractiveness Analysis
15.4.1. By Material
15.4.2. By Product Type
15.4.3. By End Use
15.5. Drivers and Restraints: Impact Analysis
15.6. Key Participants Market Presence Intensity Mapping
16. Middle East & Africa Industrial Pipe Insulation Materials Market Analysis 2013–2021 and Forecast 2022–2028
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume (KT) By Market Segments, 2013–2021
16.3. Market Size (US$ Mn) and Volume (KT) Forecast By Market Segments, 2022–2028
16.3.1. By Country
16.3.1.1. GCC Countries
16.3.1.2. South Africa
16.3.1.3. North Africa
16.3.1.4. Rest of MEA
16.3.2. By Material Type
16.3.3. By Product Type
16.3.4. By End Use
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Material Type
16.4.3. By Product Type
16.4.4. By End Use
16.5. Drivers and Restraints: Impact Analysis
16.6. Key Participants Market Presence Intensity Mapping
17. Industrial Pipe Insulation Materials Market Industry Structure
17.1. Market Analysis by Tier of Companies
17.1.1. By Large, Medium and Small
17.2. Market Share Analysis of Top Players, By Region
17.2.1. North America
17.2.2. Europe
17.2.3. Asia Pacific
17.3. Market Presence Analysis
17.3.1. By Regional Footprint
17.3.2. By Product Footprint
17.4. Technology Roadmap
18. Competition Analysis
18.1. Competition Dashboard
18.2. Competitive Benchmarking
18.3. Profitability and Gross Margin Analysis By Competition
18.4. Competition Developments (Mergers, Acquisitions and Expansions)
18.5. Competition Deep dive
18.5.1. Rockwool International A/S
18.5.1.1. Overview
18.5.1.2. Product Portfolio
18.5.1.3. Profitability by Market Segments (Product/Channel/Region)
18.5.1.3.1. Gross Margin Benchmarking
18.5.1.3.2. Strategy Overview
18.5.2. SAINT-GOBAIN
18.5.2.1. Overview
18.5.2.2. Product Portfolio
18.5.2.3. Profitability by Market Segments (Product/Channel/Region)
18.5.2.3.1. Gross Margin Benchmarking
18.5.2.3.2. Strategy Overview
18.5.3. Armacell International S.A
18.5.3.1. Overview
18.5.3.2. Product Portfolio
18.5.3.3. Profitability by Market Segments (Product/Channel/Region)
18.5.3.3.1. Gross Margin Benchmarking
18.5.3.3.2. Strategy Overview
18.5.4. Owens Corning Insulating Systems, LLC
18.5.4.1. Overview
18.5.4.2. Product Portfolio
18.5.4.3. Profitability by Market Segments (Product/Channel/Region)
18.5.4.3.1. Gross Margin Benchmarking
18.5.4.3.2. Strategy Overview
18.5.5. Knauf Insulation
18.5.5.1. Overview
18.5.5.2. Product Portfolio
18.5.5.3. Profitability by Market Segments (Product/Channel/Region)
18.5.5.3.1. Gross Margin Benchmarking
18.5.5.3.2. Strategy Overview
18.5.6. Kingspan Group plc
18.5.6.1. Overview
18.5.6.2. Product Portfolio
18.5.6.3. Profitability by Market Segments (Product/Channel/Region)
18.5.6.3.1. Gross Margin Benchmarking
18.5.6.3.2. Strategy Overview
18.5.7. Johns Manville Corporation
18.5.7.1. Overview
18.5.7.2. Product Portfolio
18.5.7.3. Profitability by Market Segments (Product/Channel/Region)
18.5.7.3.1. Gross Margin Benchmarking
18.5.7.3.2. Strategy Overview
18.5.8. ContiTech AG
18.5.8.1. Overview
18.5.8.2. Product Portfolio
18.5.8.3. Profitability by Market Segments (Product/Channel/Region)
18.5.8.3.1. Gross Margin Benchmarking
18.5.8.3.2. Strategy Overview
18.5.9. Dyplast Products Llc
18.5.9.1. Overview
18.5.9.2. Product Portfolio
18.5.9.3. Profitability by Market Segments (Product/Channel/Region)
18.5.9.3.1. Gross Margin Benchmarking
18.5.9.3.2. Strategy Overview
18.5.10. ITW Insulation Systems
18.5.10.1. Overview
18.5.10.2. Product Portfolio
18.5.10.3. Profitability by Market Segments (Product/Channel/Region)
18.5.10.3.1. Gross Margin Benchmarking
18.5.10.3.2. Strategy Overview
18.5.11. BASF SE
18.5.11.1. Overview
18.5.11.2. Product Portfolio
18.5.11.3. Profitability by Market Segments (Product/Channel/Region)
18.5.11.3.1. Gross Margin Benchmarking
18.5.11.3.2. Strategy Overview
18.5.12. Huntsman
18.5.12.1. Overview
18.5.12.2. Product Portfolio
18.5.12.3. Profitability by Market Segments (Product/Channel/Region)
18.5.12.3.1. Gross Margin Benchmarking
18.5.12.3.2. Strategy Overview
18.5.13. Aeroflex USA, Inc.
18.5.13.1. Overview
18.5.13.2. Product Portfolio
18.5.13.3. Profitability by Market Segments (Product/Channel/Region)
18.5.13.3.1. Gross Margin Benchmarking
18.5.13.3.2. Strategy Overview
18.5.14. L'ISOLANTE K-FLEX S.p.A.
18.5.14.1. Overview
18.5.14.2. Product Portfolio
18.5.14.3. Profitability by Market Segments (Product/Channel/Region)
18.5.14.3.1. Gross Margin Benchmarking
18.5.14.3.2. Strategy Overview
18.5.15. Shanghai ABM Rock Wool Co., Ltd
18.5.15.1. Overview
18.5.15.2. Product Portfolio
18.5.15.3. Profitability by Market Segments (Product/Channel/Region)
18.5.15.3.1. Gross Margin Benchmarking
18.5.15.3.2. Strategy Overview
19. Research Methodology
20. Assumptions & Acronyms Used
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Industrial Pipe Insulation Materials Market
