Global Pipe Insulation Market Booming at a CAGR of 3.47% to hit $ 11.49 billion by 2026
Global Pipe Insulation Market is expected to rise from its initial estimated value of USD 8.75 billion in 2018 to an estimated value of USD 11.49 billion by 2026, registering a CAGR of 3.47% in the forecast period of 2019-2026.
Key Market Competitors:
Few of the major competitors currently working in pipe insulation market are Armacell, Kingspan Group, Owens Corning, Saint-Gobain, Huntsman International LLC, Johns Manville, Knauf Insulation., BASF SE, Covestro AG, ITW Insulation Systems, Inc., L'ISOLANTE K-FLEX S.p.A., wincellchina.com, NMC sa, GILSULATE INTERNATIONAL, INC, Sekisui Foam Australia, Kuwait Insulating Material Manufacturing Company, Paroc Group, ODE Insulation.
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Pipe insulation is the technique which is used to protect the pipe from heat, moisture, corrosion, chemicals, damages etc. Pipes are usually enclosed with materials like foam wraps, flexible films, coating etc. These days they are widely used in oil, district energy system, building and construction and other industries. Increasing oil and gas demand worldwide is fuelling the growth of this market.
Competitive Analysis:
Global pipe insulation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pipe insulation market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Global Pipe Insulation Market
- By Application (Industrial, Oil, District Energy System, Building & Construction, Other Applications)
- By Material Type (Rockwool, Polyurethane & Polyisocyanurate Foam, Fiberglass, Elastomeric Foam, Wood, Rubber, Chemical Coatings, Paper & Board)
- By Product Type (Thin Films, Foils, Wraps, Rigid Insulation Products, Stone Wool Insulation Covers, Coating Materials, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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Market Drivers:
Increasing demand for oil and gas worldwide is driving the growth of this market
Technological advancement and development is driving the market
Market Restraints:
High price of the raw material is restraining the growth of this market
Increasing health and safety awareness among consumer is another factor restraining the market
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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