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Pipeline Thermal Insulation Materials Market

Pipeline Thermal Insulation Materials Market Analysis Report By Product Type (Calcium Silicate, Ceramic Fibre, Cellular Glass, Glass Mineral Wool), By Temperature (100 °C – 200 °C, 200 °C – 500 °C, Above 500 °C), By End-Use Industry, By Region - Global Insights 2022-2032

Analysis of Pipeline Thermal Insulation Materials market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Pipeline Thermal Insulation Materials Market Snapshot

The global pipeline thermal insulation materials market is estimated at USD 2.7 Billion in 2022 and is forecast to surpass USD 4.8 Billion by 2032, growing at a CAGR of 6.1% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 2.5 Billion

Estimated Year Value (2022E)

USD 2.7 Billion

Projected Year Value (2032F)

USD 4.8 Billion

Global Growth Rate (2022-2032)

CAGR 6.1%

North America Market Share in 2021

~27%

North America Growth Rate (2022-2032)

CAGR 7.2%

Collective Value Share (USA, China, Germany and India) 2022: Top 4 Countries

~42%

Top 5 Companies Market Share in 2021

~18%

Key Companies Profiled

  • Hertel
  • MOWCO Industry Limited
  • Protek
  • Sat Insulation Materials Industry
  • Insulpro
  • Kuwait Insulating Material Manufacturing
  • Perma-Pip
  • The Bayou
  • Technipfmc
  • Chemtech Foundation
  • Huntsman
  • Tenaris
  • Murugappa Morgan Thermal Ceramics Limited
  • U.P. Twiga Fiberglass Limited
  • NGP Industries Limited
  • Dhanbad Rockwool Insulation Pvt. Ltd.
  • Lloyd Insulations
  • Rockwool India Pvt. Ltd.
  • Rockwool international A/S
  • HIL Limited and Aspen Aerogels Inc.

The global pipeline thermal insulation materials market accounts for ~8% of the global building thermal insulation material market in 2022. The global pipeline thermal insulation materials market is estimated to have an absolute $ opportunity of USD 2.1 Billion during the forecast years of 2022-2032. 

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2017-2021 global Pipeline Thermal Insulation Materials Market Outlook in Comparison to 2022-2032 Growth Forecast

The pipe insulation materials are designed and utilized in a way that help to maintain required temperature for pipes and other relative substances such as hot air, thermic fluid, steam etc. that flows through the pipe. The provision of insulation either minimizes or reduces the heat loss along with the passive fire resistance. This is attributed to provide a gain of 124 BPS points during the forecast years of 2022-2032.

The market for insulation materials on the long-term outlook is expected to remain positive which is driven by the positive economic outlook in the country. Therefore, the demand for the global pipeline thermal insulation materials is estimated to witness an increase by 1.6X during the assessment years.

Fact.MR projects the global pipeline thermal insulation materials market is expected to witness exhibiting growth at 6.1% CAGR during 2022 and 2032 in comparison to a CAGR of 4.9% with which it grew from 2017 and 2021.

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Rising Industrial Growth leading to Greater Demand

The countries such as India, China, Germany etc. is witnessing rapid urbanization, higher GDP growth in addition to the rapid industrial growth. This is expected to drive the global pipeline thermal insulation materials market growth by more than ~32% of the current demand levels in coming years of 2022-2032.

Moreover, the favorable government policies for the manufacturing sector laid down by the governments in tandem with the enhancement in the ease of doing business in the country is expected to provide a push to the global pipeline thermal insulation materials market by 1.6X.

Additionally, for e.g. government of India has taken various initiatives such as “Make in India” initiative and Foreign Direct Investment (FDI) policies is making them attractive for the manufacturers, helping in growth of the market.

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Rising Chemical Industry placing Greater Demand

The rapid growth witnessed by the chemical and petrochemicals industry is providing lucrative growth opportunities for the manufacturers of the global pipeline thermal insulation materials market. This is likely to boost market demand by approximately 1/5th or ~20% of current demand levels.

Also, another prominent end-use industry is the power plant segment. Owing to the increasing power demand in the global market, the growth in the power plant industry is expected to boom. This in turn, is expected to fuel the market growth and demand in the thermal insulation materials market, during the forecast years of 2022-2032.

Numerous Advantages of Pipeline Thermal Insulation Martial likely to boost the Market

Thermal insulation on a small pipeline or raw water pipeline has no substantial impact on energy conservation; nonetheless, pipeline thermal insulation will result in increased installation charges for customers.

However, thermal insulation is critical in lengthy pipes or pipelines delivering hot working fluids, cold fluids, or specific chemicals. The appropriate use of thermal insulation on pipes can significantly reduce heat loss, which in turn reduces additional expenditures.

There are numerous advantages of using thermal insulation on the pipelines, such as, it protects the pipelines from extreme operating temperatures, the condensation of the pipeline fluids can be controlled, it does not let the pipe to freeze and a significant amount of energy can be saved. Owing to the above-mentioned benefits, end use industries select to install thermal insulation on the pipelines.

In some circumstances, thick paint and coatings can be utilized to insulate pipelines if energy loss is minimal and operating conditions are good. Thermal insulation materials can be put as layers on pipelines to reduce energy loss while maintaining the exact operation temperature and pressure of the fluid inside the pipeline.

Pipeline thermal insulation is particularly advantageous in areas where the climatic circumstances are quite hard for fluid transportation, such as freezing of water owing to extreme cold weather and it is used to preserve the appropriate operating conditions while transferring fluid.

This is likely to boost the demand for pipeline thermal insulation material from different end use industry which increase the market valuation in coming years.

Environmental Concerns Leading Demand

In recent years, there has been a shift and an increased focus on the development of sustainable energy because of escalating environmental concerns. This is further coupled with greater adoption and usage of insulation materials for application process.

Therefore, all the above listed factors are expected to provide momentum to the market across a varied set of end-use industries including power generation, oil & gas, chemicals and petrochemicals, food and beverages etc. Therefore, the market is poised to witness a gain of 230 BPS during the forecast years of 2022-2032.

Region-wise Insights

Which region accounts for more enhanced demand for global Pipeline Thermal Insulation Materials Market?

The market for global pipeline thermal insulation materials market is basically segmented into six key regions namely North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA respectively. The North America pipeline thermal insulation materials leads the global pipeline thermal insulation materials market by contributing approximately 27% to the overall market share.

The regional market is likely to grow at a CAGR of 7.2% during the forecast years owing to the higher production and consumption of the material in the region. Additionally, the Canada is expected to follow the United States in the North American pipeline thermal insulation materials market share owing to increased consumption witnessed in the region.

What is the Growth Scenario of Asia Pacific Pipeline Thermal Insulation Materials Market?

Asia Pacific pipeline thermal insulation materials market has been segregated into two key regions including East Asia and South Asia & Oceania. East Asia pipeline thermal insulation materials market is holding more than 1/5th market share in global market. It is projected to gain 78 BPS by the end of assessment period.

Further, South Asia and Oceania pipeline thermal insulation materials market is the fastest growing market in global market. It projected to grow at a CAGR of 7.6% and generate an absolute dollar opportunity of nearly USD 370 Million amid 2022 & 2032.

Global Pipeline Thermal Insulation Materials Market forecast analysis by Fact.MR

Category-wise Insights

Which Product Type is expected to be the Largest Contributor in Market share during the Forecast Period of Pipeline Thermal Insulation Materials Market?

The global pipeline thermal insulation materials are available under different product types such as rock mineral wood, glass mineral wood, calcium silicate, ceramic fibre etc. Amongst all the product types available, rock mineral wood contributes the highest market share of 20.5% to the overall market.

This is basically attributed to the insulation material having superior properties of efficient insulation properties, low cost, and having higher strength in addition to aerogel and microporous insulation. The segment is likely to dominate the forecast years of 2022-2032 owing to its higher demand because of properties.

Which Segment under Temperature Holds Substantial Market Share and is Poised to Show More Growth in Global Pipeline Thermal Insulation Materials Market?

On the basis of temperature, the global pipeline thermal insulation materials is available in different temperature segment. Amongst all the segments, the 2000 C- 5000 C segments dominates the market by contributing approximately 37.5% to the overall market share.

The market is likely to be dominated by this particular segment in the forecast years and is projected to grow at a CAGR of 8.3% during assessment years.

Competitive Landscape: Top Companies in Global Pipeline Thermal Insulation Materials Market

The global pipeline thermal insulation materials market is fragmented and competitive owing to the presence of many domestic and regional players. It is also characterized by the intense rivalry present amongst the companies and competitors. Numerous strategies have been adopted by leading players includes expansions, mergers and acquisitions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced pipeline thermal insulation materials.

Fact.MR has provided detailed information about price points of top manufacturers of Global Pipeline Thermal Insulation Materials Market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • On 29th January 2022, Murugappa Morgan Thermal Ceramics Limited has attended the PowerGen International & Distributech International event which was organized from 26th to 28th of January 2022. It has showcased wide range of its products in the exhibition.
  • On 16th December 2021, Equinor and ENGIE, an energy group, have launched H2BE plan which aims to produce natural gas derived low-carbon hydrogen, through an ATR technology (auto thermal reforming) mixed with storage and carbon capture, in Belgium.

Global Pipeline Thermal Insulation Materials Market Segments

  • By Product Type :

    • Calcium Silicate
    • Ceramic Fibre
    • Cellular Glass
    • Glass Mineral Wool
    • Rock Mineral Wool
    • Polyurethane Foam
    • Microporous Insulation
    • Aerogel
    • Other Materials
  • By Temperature :

    • 100 °C – 200 °C
    • 200 °C – 500 °C
    • Above 500 °C
  • By End-Use Industry :

    • Chemical
    • Pharmaceutical
    • Food & Beverage
    • Power Plant
    • Oil & Gas
    • Mining & Metallurgy
    • Other Industries
  • By Region :

    • North
    • South
    • East
    • West

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The value of Global pipeline thermal insulation materials market is estimated to be worth over USD 2.7 Billion in 2022.

The demand is anticipated to surpass USD 162 Million by 2032 end.

During 2017-2021, Global pipeline thermal insulation materials market grew at 4.9% CAGR.

Some of the prominent players in Global pipeline thermal insulation materials market are Hertel, MOWCO INDUSTRY LIMITED, Protek, Sat Insulation Materials Industry, Insulpro, Kuwait Insulating Material Manufacturing etc.

North America lead the global pipeline thermal insulation materials market accounting for nearly 27% of market share in 2021.

Rock mineral wool pipeline thermal insulation materials contributes ~49% of market share in the sales of global pipeline thermal insulation materials.

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