파이프 단열재 시장 예측(-2030년) : 제품 유형, 최종 사용자 및 지역별 세계 분석

According to Stratistics MRC, the Global Pipe Insulation Market is accounted for $9.78 billion in 2023 and is expected to reach $15.00 billion by 2030 growing at a CAGR of 6.3% during the forecast period. Pipe insulation is a vital component of many industrial, commercial, and residential systems, serving to regulate temperature, prevent heat loss or gain, and protect pipes from environmental factors. Typically made from materials like foam, fiberglass, or rubber, it is wrapped around pipes to create a barrier that minimizes heat transfer. This not only conserves energy but also prevents condensation and reduces the risk of freezing in cold climates. Pipe insulation comes in various forms, including pre-formed tubes, wraps, and sheets, allowing for versatility in application.

According to reports from International Energy Agency (IEA), the US is expected to be one of the largest liquefied natural gas (LNG) exporters.

Market Dynamics:

Driver:

Energy efficiency regulations

Energy Efficiency Regulations serve as a crucial driver for the pipe insulation market by mandating standards for thermal performance in buildings and industrial facilities. These regulations compel businesses and homeowners to enhance insulation to reduce energy consumption and greenhouse gas emissions. As a result, there's a growing demand for efficient pipe insulation solutions to comply with these regulations. Industries such as construction, oil and gas, and manufacturing are particularly affected, driving the adoption of high-quality insulation materials and installation techniques. This trend not only promotes sustainability but also stimulates innovation in insulation technology, creating opportunities for market growth and development.

Restraint:

Maintenance requirements

Maintenance requirements are ongoing care and upkeep necessary to ensure the effectiveness and longevity of pipe insulation systems. In the pipe insulation market, the need for regular maintenance can act as a restraint on its growth. This is because maintenance demands time, resources, and sometimes specialized skills, adding to the overall cost of ownership for users. Additionally, inadequate maintenance can lead to insulation degradation, reducing its thermal efficiency and potentially causing costly energy losses. As a result, customers may be hesitant to invest in pipe insulation solutions, especially if they perceive the maintenance requirements as burdensome or costly.

Opportunity:

Renewable energy sector

The renewable energy sector presents a significant opportunity for the pipe insulation market due to its focus on energy efficiency and sustainability. Insulating pipes used in renewable energy systems such as solar thermal, geothermal, and biomass can enhance their performance by reducing heat loss and improving overall energy efficiency. This not only lowers operational costs but also aligns with environmental goals by minimizing energy waste and carbon emissions. As the demand for renewable energy continues to grow, so does the need for efficient infrastructure, including well-insulated pipes. This creates a steady market for pipe insulation manufacturers and suppliers. Moreover, government incentives and regulations promoting renewable energy adoption further drive the demand for insulated pipes in this sector.

Threat:

Fluctuating raw material prices

Fluctuating raw material prices pose a significant threat to the pipe insulation market due to their direct impact on production costs and profit margins. Since pipe insulation relies heavily on materials like fiberglass, foam, and mineral wool, any sudden increase in their prices can strain manufacturers' bottom lines. This volatility can disrupt pricing strategies, making it challenging for companies to remain competitive. Moreover, it can lead to inconsistency in product quality if manufacturers resort to cheaper, lower-quality materials to offset rising costs. Additionally, unpredictable raw material prices can make long-term planning and investment decisions difficult, hindering the industry's overall growth and stability.

Covid-19 Impact:

The COVID-19 pandemic has significantly impacted the pipe insulation market. With widespread disruptions in construction projects and industrial activities due to lockdowns and supply chain disruptions, demand for pipe insulation has fluctuated. Initially, the market experienced a slowdown as construction projects were put on hold and industrial activities scaled back. However, as industries adapted to new safety measures and construction resumed, the demand for pipe insulation picked up again, driven by the need for energy efficiency and thermal insulation in various applications.

The flexible insulation segment is expected to be the largest during the forecast period

The flexible insulation segment in the pipe insulation market has experienced significant growth due to its versatility, allowing for easy installation around pipes of various shapes and sizes, catering to diverse industrial and residential needs. Advancements in material technology have led to the development of flexible insulation materials that offer superior thermal resistance, energy efficiency, and durability. Additionally, the growing emphasis on sustainability has driven the demand for eco-friendly insulation solutions, further boosting the adoption of flexible options. Moreover, the expansion of infrastructure projects globally, particularly in the construction and HVAC sectors, has propelled the demand for flexible insulation solutions to meet stringent energy efficiency regulations.

The oil & gas segment is expected to have the highest CAGR during the forecast period

The growth in the oil and gas segment can be attributed to the expansion of oil and gas exploration and production activities globally that has increased the demand for pipelines, necessitating insulation for efficient transport and storage. Additionally, stringent regulations regarding energy efficiency and safety standards in the oil and gas industry have prompted companies to invest in high-quality insulation materials to reduce heat loss and prevent corrosion. Moreover, the rising adoption of advanced insulation technologies, such as aerogel and polyurethane foam, offers superior thermal performance, driving further growth in this segment. Furthermore, the growing emphasis on sustainability and environmental concerns has led to the development of eco-friendly insulation solutions tailored for the oil and gas sector, fostering market expansion.

Region with largest share:

The North American region has experienced significant growth in the pipe insulation market due to the increasing focus on energy efficiency and sustainability, which has driven demand for insulation solutions in residential, commercial, and industrial sectors. Additionally, stringent regulations regarding energy conservation and building codes have propelled the adoption of pipe insulation. Moreover, the expansion of the oil and gas industry, coupled with infrastructural development projects, has stimulated the demand for insulated piping systems. Furthermore, the growing awareness about the benefits of insulation in reducing heat loss and preventing condensation has further boosted the market in the region.

Region with highest CAGR:

The Asia-Pacific region has witnessed robust growth due to rapid industrialization and urbanization that led to increased construction activities, driving the demand for efficient insulation solutions to enhance energy efficiency. Additionally, stringent regulations aimed at reducing carbon emissions have spurred the adoption of insulation materials in both the commercial and residential sectors. The region's focus on sustainable development has encouraged the use of eco-friendly insulation materials. Technological advancements and investments in infrastructure projects have further propelled market growth, catering to the burgeoning demand for pipe insulation across various industries such as oil and gas, HVAC, and chemicals.

Key players in the market

Some of the key players in Pipe Insulation market include BASF SE, Covestro AG, Dow, Inc., Huntsman International LLC, Illinois Tool Works Inc., Johns Manville, K-FLEX S.p.A., Kingspan Group, Knauf Insulation, Lapolla Industries (Now Icynene-Lapolla), NMC SA, Nomaco, Owens Corning, PPG Industries, Rochling Group, Rockwool International, Saint-Gobain, Thermaflex and Unifrax.

Key Developments:

In May 2024, Global chemical solutions firm BASF has introduced Efficon, a new insecticide, in India to help farmers rein in piercing and sucking pests that pose a threat to crops. The product is among the first compounds in the market introduced under the new IRAC group 36 that represents a new class of insecticides (Group 36 - pyridazine) and which has no known cross-resistance with existing products in the market.

In February 2024, International plastics processor Rochling Industrial SE & Co. KG is expanding its portfolio of flame-retardant materials for use in railway technology applications with the two sustainable products, Maywoflamm(R) plus RC and Maywoflamm(R) NFPA RC. Both products can be manufactured using up to 70 percent recycled material, making it possible to increase sustainability in customer applications.

Products Covered:

• Prefabricated Insulation
• Flexible Insulation
• Spray Foam Insulation
• Rigid Board Insulation
• Loose Fill Insulation
• Other Products

Material Types Covered:

• Foam
• Mineral Wool
• Fiberglass
• Rubber
• Other Material Types

End Users Covered:

• Chemicals
• Power Generation
• Food & Beverage
• Oil & Gas
• Commercial
• Residential
• Industrial
• Construction
• Pharmaceuticals
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Pipe Insulation Market, By Product

• 5.1 Introduction
• 5.2 Prefabricated Insulation
• 5.3 Flexible Insulation
• 5.4 Spray Foam Insulation
• 5.5 Rigid Board Insulation
• 5.6 Loose Fill Insulation
• 5.7 Other Products

6 Global Pipe Insulation Market, By Material Type

• 6.1 Introduction
• 6.2 Foam
  • 6.2.1 Polyurethane & Polyisocyanurate Foam
  • 6.2.2 Elastomeric Foam
  • 6.2.3 Other Foams
• 6.3 Mineral Wool
• 6.4 Fiberglass
• 6.5 Rubber
• 6.6 Other Material Types

7 Global Pipe Insulation Market, By End User

• 7.1 Introduction
• 7.2 Chemicals
• 7.3 Power Generation
• 7.4 Food & Beverage
• 7.5 Oil & Gas
• 7.6 Commercial
• 7.7 Residential
• 7.8 Industrial
• 7.9 Construction
• 7.10 Pharmaceuticals
• 7.11 Other End Users

8 Global Pipe Insulation Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 BASF SE
• 10.2 Covestro AG
• 10.3 Dow, Inc.
• 10.4 Huntsman International LLC
• 10.5 Illinois Tool Works Inc.
• 10.6 Johns Manville
• 10.7 K-FLEX S.p.A.
• 10.8 Kingspan Group
• 10.9 Knauf Insulation
• 10.10 Lapolla Industries (Now Icynene-Lapolla)
• 10.11 NMC SA
• 10.12 Nomaco
• 10.13 Owens Corning
• 10.14 PPG Industries
• 10.15 Rochling Group
• 10.16 Rockwool International
• 10.17 Saint-Gobain
• 10.18 Thermaflex
• 10.19 Unifrax