Pipe Insulation Market by Material Type (Rockwool, Fiberglass, Polyurethane & Polyisocyanurate Foam, Elastomeric Foam), Application( Oil, Industrial, District Energy Systems, Building & Construction), and Region- Global Forecast to 2023
[127 Pages Report] The pipe insulation market is projected to grow from USD 8.7 billion in 2018 to USD 10.3 billion by 2023, at a CAGR of 3.4% during the forecast period. Pipe insulation is a material or combination of materials that add a protective covering to pipes and reduces the heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperature. The growing production of oil in countries such as the US, Saudi Arabia, Iran, and Russia drives the demand for pipe insulation. Also, the presence of stringent regulations to insulate pipelines drive the demand for pipe insulation.
Rockwool material type to lead the pipe insulation material market during the forecast period.
The pipe insulation market has been segmented on the basis of material type into rockwool, PU & PIR foam, fiberglass, elastomeric foam, and others. The rockwool material type is expected to lead the market during the forecast period, in terms of value. Its non-flammable nature and high compressive strength drive its demand in various applications. Additionally, it is sustainable and does not cause any harm to the environment.
The industrial application segment is expected to be the largest contributor to the overall pipe insulation market during the forecast period.
Based on application, the pipe insulation market has been segmented into industrial, oil, district energy systems, building & construction, and others. The industrial segment accounted for the largest market share, in terms of value, followed by the oil segment, in 2017. Rapid industrialization in regions such as APAC and South America and the necessity to insulate pipelines used in various process industries are expected to drive the market in the industrial segment during the forecast period.
APAC is expected to account for the largest share of the pipe insulation market during the forecast period.
APAC is estimated to be the largest pipe insulation market in 2018 and is expected to continue to lead the market till 2023 owing to the growing industries in the regions emerging economies, such China and India. Rising per capita disposable income, rapid urbanization, and growing demand for district energy systems are projected to fuel the growth of the pipe insulation market. Additionally, high growth in various industries such as pharmaceuticals, food processing, and chemicals are expected to drive the demand for pipe insulation in the region.
Key Market Players
The key players in this market are Rockwool International A/S (Denmark), Owens Corning (US), Saint-Gobain (France), Kingspan Group (Republic of Ireland), Armacell International S.A. (Germany), Huntsman Corporation (US), Johns Manville (US), Knauf Insulation (US), BASF SE (Germany), and Covestro AG (Germany).Recent Developments
- In October 2018, Saint-Gobain acquired 100% equity shares of Kaimann GmbH International, which is one of Europes leading manufacturers of elastomeric insulation products.
- In November 2016, Rockwool acquired Flumroc AG (Switzerland), a stone wool producer. This acquisition is expected to help the company to expand in the pipe insulation market.
- In April 2017, Owens Corning introduced the first and only formaldehyde-free Thermafiber light-density mineral wool insulation.
- In May 2018, Huntsman announced that it plans to build a new Polyurethanes Systems House in Dubai. Polyurethanes are used to make pipe insulation products. This expansion is expected to help the company strengthen its market position in the Middle East.
Key Questions addressed by the report
- What are the major developments impacting the market?
- Where will all these developments take the industry in the mid to long term?
- What is the upcoming type of pipe insulation?
- What are the emerging applications for pipe insulation?
- What are the major factors impacting market growth during the forecast period?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 28)
4.1 Attractive Opportunities in the Pipe Insulation Market
4.2 Pipe Insulation Market, By Region, 20182023
4.3 Pipe Insulation Market in APAC, By Application and Country
4.4 Pipe Insulation Market, By Major Country
4.5 Pipe Insulation Market, By Application
5 Market Overview (Page No. - 31)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Oil and Gas Demand
5.2.1.2 Stringent Regulatory Environment
5.2.2 Restraints
5.2.2.1 Volatile Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Growing Opportunities From Emerging Economies
5.2.4 Challenges
5.2.4.1 Corrosion Under Insulation Leading to Health- and Safety-Related Incidents
5.3 Porters Five Forces Analysis
5.3.1 Threat 0f New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macro Indicator Analysis
5.4.1 GDP of Major Economies in Terms of PPP
5.4.2 Trends and Forecast of Oil Application Segment and Its Impact on the Pipe Insulation Market
6 Pipe Insulation Market, By Application (Page No. - 39)
6.1 Introduction
6.2 Industrial
6.2.1 Need for Energy Conservation in Industrial Facilities Drives the Pipe Insulation Market
6.3 Oil
6.3.1 Huge Oil Production in Middle East to Drive the Demand
6.4 District Energy Systems
6.4.1 Des to Be the Fastest-Growing Application Segment in Overall Pipeline Insulation Market
6.5 Building & Construction
6.5.1 Pipe Insulation Used in Buildings to Save Cost Savings and Provide Thermal Comfort
6.6 Other Applications
7 Pipe Insulation Market, By Material Type (Page No. - 47)
7.1 Introduction
7.2 Rockwool
7.2.1 Rockwool is A Sustainable Insulation Material; It is Expected to Dominate the Pipe Insulation Market
7.3 Polyurethane & Polyisocyanurate Foam
7.3.1 Pur & Pir Foam is Mainly Used in the Cold Insulation Application
7.4 Fiberglass
7.4.1 Fiberglass Insulation is Mainly Used in the Cold Pipe Insulation Application
7.5 Elastomeric Foam
7.5.1 Elastomeric Foam is Mainly Used in the Building & Construction Application
7.6 Others
8 Pipe Insulation Market, By Region (Page No. - 55)
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.1.1 China Accounted for the Largest Share in the Pipe Insulation Market in APAC
8.2.2 Japan
8.2.2.1 Stringent Building Codes to Drive the Market
8.2.3 India
8.2.3.1 Industrial Application to Augment the Demand for Pipe Insulation
8.2.4 Malaysia
8.2.4.1 Necessity to Insulate Industrial Pipelines to Drive the Market
8.2.5 Indonesia
8.2.5.1 Rise in Oil Production in the Country to Drive the Market
8.2.6 Australia
8.2.6.1 Huge Industrial Base to Drive the Market
8.2.7 South Korea
8.2.7.1 Shipbuilding and Demand for Des to Drive the Demand
8.2.8 Rest of APAC
8.3 Western Europe
8.3.1 Germany
8.3.1.1 Large Industrial Base of Germany Drives the Market
8.3.2 UK
8.3.2.1 Building & Construction Application to Drive the Market
8.3.3 France
8.3.3.1 Strong Industrial Segment to Drive the Market
8.3.4 Italy
8.3.4.1 Building Energy Codes to Drive the Market
8.3.5 Rest of Western Europe
8.4 Central & Eastern Europe
8.4.1 Russia
8.4.1.1 Huge Demand for Des to Drive the Market
8.4.2 Poland
8.4.2.1 Building & Construction Application to Drive the Market
8.4.3 Rest of Central & Eastern Europe
8.5 North America
8.5.1 US
8.5.1.1 The US is the Largest Market for Pipe Insulation in North America
8.5.2 Canada
8.5.2.1 Oil Application to Drive the Demand for Pipe Insulation
8.5.3 Mexico
8.5.3.1 Mexico is the Third-Largest Pipe Insulation Market in North America
8.6 South America
8.6.1 Brazil
8.6.1.1 Oil Production to Drive the Market
8.6.2 Argentina
8.6.2.1 Industrial Application Segment to Drive the Market
8.6.3 Rest of South America
8.7 Middle East & Africa
8.7.1 Saudi Arabia
8.7.1.1 Saudi Arabia is the Largest Pipe Insulation Market in the Middle East & Africa
8.7.2 UAE
8.7.2.1 Building & Construction to Drive the Market
8.7.3 Iran
8.7.3.1 Des Application to Drive the Market in the Country
8.7.4 Kuwait
8.7.4.1 Oil Production to Drive the Demand for Pipe Insulation
8.7.5 Rest of Middle East & Africa
9 Competitive Landscape (Page No. - 92)
9.1 Overview
9.2 Market Ranking
9.2.1 Rockwool International A/S
9.2.2 Owens Corning
9.2.3 Saint-Gobain
9.3 Competitive Situations and Trends
9.3.1 Expansions
9.3.2 New Product Launches
9.3.3 Acquisitions
9.3.4 Agreements
9.3.5 Investments
10 Company Profiles (Page No. - 98)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
10.1 Rockwool
10.2 Armacell
10.3 Kingspan
10.4 Owens Corning
10.5 Saint-Gobain
10.6 Huntsman
10.7 Johns Manville
10.8 Knauf Insulation
10.9 BASF
10.10 Covestro
10.11 Other Market Players
10.11.1 Itw Insulation Systems
10.11.2 L'isolante K-Flex S.P.A
10.11.3 Wincell
10.11.4 NMC SA
10.11.5 Gilsulate International, Inc.
10.11.6 Sekisui Foam Australia
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 120)
11.1 Excerpts From Expert Interviews
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets Subscription Portal
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details
List of Tables (68 Tables)
Table 1 Top 10 Economies By GDP in Ppp Terms, 2017
Table 2 GDP of Major Economies, in Terms of Ppp, 2014-2023 (USD Billion)
Table 3 Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 4 Pipe Insulation Market Size in Industrial Application, By Region, 20162023 (USD Million)
Table 5 Pipe Insulation Market in Oil Application, By Region, 20162023 (USD Million)
Table 6 Pipe Insulation Market Size in Des Application, By Region, 20162023 (USD Million)
Table 7 Pipe Insulation Market Size in Building & Construction Application, By Region, 20162023 (USD Million)
Table 8 Pipe Insulation Market Size in Other Applications, By Region, 20162023 (USD Million)
Table 9 Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 10 Rockwool: Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 11 Pu & Pir Foam: Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 12 Fiberglass: Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 13 Elastomeric Foam: Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 14 Other Material Types: Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 15 Pipe Insulation Market Size, By Region, 20162023 (USD Million)
Table 16 APAC: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 17 APAC: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 18 APAC: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 19 China: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 20 Japan: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 21 India: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 22 India: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 23 Malaysia: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 24 Indonesia: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 25 Australia: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 26 South Korea: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 27 Rest of APAC: Pipe Insulation Market Size, By Application, 20162023
Table 28 Western Europe: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 29 Western Europe: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 30 Western Europe: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 31 Germany: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 32 UK: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 33 France: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 34 Italy: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 35 Rest of Western Europe: Pipe Insulation Market Size, 20162023 (USD Million)
Table 36 Central & Eastern Europe: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 37 Central & Eastern Europe: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 38 Central & Eastern Europe: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 39 Russia: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 40 Poland: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 41 Rest of Central & Eastern Europe: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 42 North America: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 43 North America: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 44 North America: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 45 US: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 46 Canada: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 47 Mexico: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 48 South America: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 49 South America: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 50 South America: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 51 Brazil: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 52 Argentina: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 53 Rest of South America: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 54 Middle East & Africa: Pipe Insulation Market Size, By Country, 20162023 (USD Million)
Table 55 Middle East & Africa: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 56 Middle East & Africa: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 57 Saudi Arabia : Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 58 Saudi Arabia : Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 59 UAE: Pipe Insulation Market Size, By Material Type, 20162023 (USD Million)
Table 60 Iran: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 61 Kuwait: Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 62 Rest of Middle East & Africa : Pipe Insulation Market Size, By Application, 20162023 (USD Million)
Table 63 Market Ranking of Pipe Insulation Manufacturers, 2017
Table 64 Expansions, 20162018
Table 65 New Product Launches, 20162018
Table 66 Acquisitions, 20162018
Table 67 Agreements, 20162018
Table 68 Investments, 2016-2018
List of Figures (49 Figures)
Figure 1 Pipe Insulation Market: Research Design
Figure 2 Pipe Insulation Market: Bottom-Up Approach
Figure 3 Pipe Insulation Market: Top-Down Approach
Figure 4 Rockwool to Account for the Largest Share in the Pipe Insulation Market
Figure 5 Industrial Application Segment to Lead the Pipe Insulation Market
Figure 6 APAC Accounted for the Largest Share in the Pipe Insulation Market in 2017
Figure 7 Growing District Energy Systems Application to Drive the Market Growth During the Forecast Period
Figure 8 APAC to Be the Largest Market of Pipe Insulation
Figure 9 Industrial Application Accounted for the Largest Share in Pipe Insulation Market in 2017
Figure 10 China to Grow at the Fastest Rate During the Forecast Period
Figure 11 Industrial Was the Largest Application in the Market
Figure 12 Drivers, Restraints, Opportunities, and Challenges: Pipe Insulation Market
Figure 13 Natural Gas Demand to Drive the Pipe Insulation Market
Figure 14 Moderate-To-High Rivalry Among Competitors Owing to Presence of Several Big and Small Players
Figure 15 Global Oil Production, 2013-2017
Figure 16 Industrial Segment Estimated to Be the Largest Application of Pipe Insulation
Figure 17 APAC Estimated to Be the Largest Pipe Insulation Market in Industrial Segment
Figure 18 Middle East & Africa to Be the Largest Pipe Insulation Market in Oil Application
Figure 19 APAC to Be the Largest Pipe Insulation Market in Des Application
Figure 20 Middle East & Africa to Be the Fastest-Growing Pipe Insulation Market in Building & Construction Segment
Figure 21 APAC to Be the Largest Pipe Insulation Market in Other Applications
Figure 22 Rockwool to Dominate the Pipe Insulation Market
Figure 23 APAC to Be the Largest Market for Rockwool Material Type
Figure 24 APAC to Be the Largest Market of Pu & Pir Foam
Figure 25 North America to Be the Second-Largest Market of Fiberglass Material Type
Figure 26 APAC to Be the Largest Market of Pipe Insulation in Elastomeric Foam
Figure 27 North America to Be the Second Largest Market of Pipe Insulation in Other Material Types
Figure 28 APAC to Dominate the Pipe Insulation Market During the Forecast Period
Figure 29 China and Russia to Grow at Highest Rates During the Forecast Period
Figure 30 APAC : Market Snapshot
Figure 31 Western Europe Pipe Insulation Market Snapshot
Figure 32 Central & Eastern Europe: Market Snapshot
Figure 33 North America: Market Snapshot
Figure 34 South America: Market Snapshot
Figure 35 Middle East & Africa: Market Snapshot
Figure 36 Acquisition Was the Key Growth Strategy Adopted By the Market Players Between 2016 and 2018
Figure 37 Rockwool: Company Snapshot
Figure 38 Rockwool: SWOT Analysis
Figure 39 Armacell: Company Snapshot
Figure 40 Armacell.: SWOT Analysis
Figure 41 Kingspan: Company Snapshot
Figure 42 Kingspan: SWOT Analysis
Figure 43 Owens Corning: Company Snapshot
Figure 44 Owens Corning: SWOT Analysis
Figure 45 Saint-Gobain: Company Snapshot
Figure 46 Saint-Gobain: SWOT Analysis
Figure 47 Huntsman: Company Snapshot
Figure 48 BASF : Company Snapshot
Figure 49 Covestro: Company Snapshot
The study involves four major activities to estimate the size of the pipe insulation market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study are annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, International District Energy Association (IDEA), International Energy Association (IEA), Insulation Manufacturers Association (IMA), North American Insulation Manufacturers Association (NAIMA), European Federation of Association of Insulation Contractors, and Thermal Insulation Manufacturers and Suppliers Association (TIMSA). Findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, vice presidents, directors, and other executives.
Primary Research
The pipe insulation market comprises several stakeholders such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the oil, industrial, district energy systems, and building & construction applications. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the pipe insulation market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry were identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the estimation process explained above-the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both demand and supply sides in the oil, industrial, district energy systems, and building & construction applications.
Report Objectives
- To define, describe, and forecast the pipe insulation market size, in terms of value
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the market growth
- To estimate and forecast the market size by material type, application, and region
- To forecast the size of the market with respect to six main regions, namely, North America, Western Europe, Central & Eastern Europe, Asia Pacific (APAC), South America, and the Middle East & Africa along with their key countries
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To track and analyze recent developments, such as expansions, acquisitions, new product launches, and agreements, in the market
- To strategically profile the key market players and comprehensively analyze their core competencies
Scope Of The Report
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The report categorizes the global pipe insulation market based on material type, application, and region.
On the basis of material type, the pipe insulation market has been segmented as:
- Rockwool
- Fiberglass
- PU & PIR foam
- Elastomeric foam
- Others
- Perlite
- Aerogel
- Cellular glass
- Calcium silicate
- Phenolic foam
- Cross-linked polyethylene
On the basis of application, the pipe insulation market has been segmented as:
- Industrial
- Oil
- District energy systems
- Building & construction
- Others
- Shipbuilding
- Onboard carriers
- Gas pipelines
On the basis of region, the pipe insulation market has been segmented as:
- North America
- Western Europe
- Central & Eastern Europe
- Asia Pacific
- South America
- Middle East & Africa
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to client-specific needs.
- Further breakdown of Rest of Asia Pacific, Rest of Western Europe, Rest of Central & Eastern Europe, Rest of South America, and Rest of the Middle East & Africa pipe insulation market
- Detailed analysis and profiles of additional market players (up to 5)
- Triangulate with your Own Data
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- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Pipe Insulation Market
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Growth opportunities and latent adjacency in Pipe Insulation Market