CHICAGO , Oct. 10, 2022 /PRNewswire/ -- Pipe Insulation Market size is projected to grow to USD 2 6 billion by 2027, at a CAGR of 3.8% from USD 2.2 billion in 2022, as per the new study published 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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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.
The key market players profiled in the report include Saint-Gobain S.A. (France ), BASF S E (Germany ), Johns Manville (US), Owens Corning (US), Kingspan Group PLC (UK), Rockwool A/S (Denmark ), Covestro AG (Germany ), Huntsman Corporation (US), Armacell (Luxembourg ) and Knauf Insulation (US) and others.
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Browse Adjacent Market: Foam and Insulation Market Research Reports & consulting
Insulation Products Market by Insulation Type (Thermal, Acoustic), Material Type (Mineral Wool, Polyurethane Foam, Flexible Elastomeric Foam), End Use (Building & Construction, Industrial, Transportation, Consumer) and Region - Global Forecast to 2026
Pre-Insulated Pipes Market by Installation (Below Ground & Above Ground), End-use Industry (District Heating & Cooling, Oil & Gas, Infrastructure & Utility), and Region (Europe , North America , APAC, MEA, South America ) - Global Forecast to 2024
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