Pipe Insulation Market Size is projected to reach $2.6 Billion by 2027 Globally, at a CAGR of 3.8%, says MarketsandMarkets™
Chicago, Nov. 22, 2022 (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 Insulations are materials or combinations of materials wrapped around the pipe which retard the flow of heat energy. Pipe insulation reduces energy losses to a great extent and thereby reduce the energy cost. Piping shall be insulated as per the insulation class, operating temperature, and insulation thickness stated in the piping and instrumentation diagram (P&ID). Pipe insulation consists of materials or 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 temperature.
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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**:*
*1. *Saint-Gobain S.A. (France)
*2*. BASF S E (Germany)
*3. *Johns Manville (US)
*4.* Owens Corning (US)
*5.* Kingspan Group PLC (UK)
*6.* Rockwool A/S (Denmark)
*7.* Covestro AG (Germany)
*8.* Huntsman Corporation (US)
*9.* Armacell (Luxembourg)
*10.* Knauf Insulation (US)
*Drivers, Restraints, Opportunities and Challenges in Pipe Insulation Market:*
1. *Driver:* Growth in oil and gas demand
2. *Restraint:* Volatile prices of plastic foams
3. *Opportunity:* Availability of green insulation material
*Key Findings of the Study:*
1. Rockwool is the largest material type of pipe insulation market.
2. 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.
3. Central & Eastern Europe is projected to be the fastest growing market for pipe insulation during the forecast period
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*Rockwool is the* *largest material type of pipe insulation market.*
Rockwool is also known as stone wool. The production of rockwool is a technological replica of a volcano that spins and cools lava in a controlled environment. The base rock is graded and crushed along with other selected ingredients, such as recycled stone wool to form a raw material. The raw material is then melted in a furnace at a temperature in excess of 1500°C.
*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.*
District energy systems (DES) distribute thermal energy from a central source to end users for space heating, cooling, water heating, or process heating. The central source from where the energy is distributed to end users can be a solid-waste incinerator, fossil-fuel fired boilers, a geothermal source, a solar energy system, or a system which utilizes heat developed as a by-product of electrical generation.
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*Central & Eastern Europe is projected to be the fastest growing market for pipe insulation during the forecast period*
Central and Eastern Europe comprise Russia, Poland, and rest of Central & Eastern Europe countries. Countries such as Russia and Poland are witnessing significant growth in the pipe insulation market. The major reason for the significant growth of the pipe insulation market in the region is the huge oil production in Russia and the increase in demand for district heating systems in the region. The European Energy Performance of Buildings Directive (EPBD) (2002/91/EEC) is the most significant measure supporting the growth of rockwool, that has been adopted by the EU.
*Browse Adjacent Markets **Foam and Insulation Market* *Research Reports & Consulting*
*Related Reports:*
1. *Pre-Insulated Pipes Market*
2. *Foam Insulation Market*
3. *Flexible Insulation Market*
4. *Building Thermal Insulation Market*
5. *Thin Insulation Market*
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