Chicago, April 17, 2023 (GLOBE NEWSWIRE) -- The global pipe insulation market will grow to USD 2.6 Billion by 2027, at a CAGR of 3.8% from USD 2.2 Billion in 2022, as per the recent study by MarketsandMarkets™. Pipe insulation is composed of materials or a combination of materials, which add a protective covering to pipes and reduce the heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperatures. It prevents the formation of condensation on pipework, and thus acts as a protective barrier against moisture, which can build up inside a pipe, leading to different types of corrosion.
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Browse in-depth TOC on “Pipe Insulation Market”
172 - Market Data Tables
62 - Figures
209 - Pages
List of Key Players in Pipe Insulation Market:
- Saint-Gobain S.A. (France)
- BASF S E (Germany)
- Johns Manville (US)
- Owens Corning (US)
- Kingspan Group PLC (UK)
- Rockwool A/S (Denmark)
- Covestro AG (Germany)
- Huntsman Corporation (US)
- Armacell (Luxembourg)
- Knauf Insulation (US)
Drivers, Restraints, and Opportunities in Pipe Insulation Market:
- Drivers: Growth in oil and gas demand
- Restraints: Volatile prices of plastic foams
- Opportunity: Availability of green insulation material
Key Findings of the Study:
- Rockwool is the largest material type of pipe insulation market.
- District energy systems (DES) is projected to be the fastest growing application of the pipe insulation market, in terms of value, during the forecast period.
- Central & Eastern Europe is projected to be the fastest growing market for pipe insulation during the forecast period
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Rhamnolipids type is projected to witness the highest CAGR, in terms of both value and volume, during the forecast period. This is owing to the enhanced functionality of rhamnolipids over the chemically synthesized surfactants. They offer efficient physicochemical properties in terms of emulsification activities, antimicrobial activities, stabilities, and surface activities.
Rockwool is projected to dominate the overall pipe insulation market, in terms of value, during the forecast period. It is also projected to witness the fastest growth during the forecast period. This is because of its non-flammable, sustainable nature, and high compressive strength.
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The DES application is projected to be the fastest-growing segment in the pipe insulation market during the forecast period due to the increasing production of DES in China, Japan, Poland, Russia, among other countries. The industrial application is projected to account for the largest market share, in terms of value, during the forecast period. The need to conserve energy in an industrial plant and increase the efficiency of a plant leads to the dominance of pipe insulation materials in the segment.
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