Global Pipeline Thermal Insulation Materials Market Is Forecast To Surpass USD 4.8 Billion, Growing At A CAGR Of 6.1% From 2022 To 2032

PRESS RELEASE
Published April 20, 2023

The global pipeline thermal insulation materials market is expected to grow at a steady rate over the next few years. The market is driven by the increasing demand for energy-efficient buildings, rising oil and gas production, and government regulations aimed at reducing greenhouse gas emissions. One of the key drivers of the market is the increasing demand for energy-efficient buildings. As a result, there is a growing need for pipeline thermal insulation materials to improve the energy efficiency of buildings. These materials can help reduce heat loss, minimize energy consumption, and lower energy costs. Another key driver of the market is the rising oil and gas production. As oil and gas pipelines transport these products over long distances, they are often exposed to harsh weather conditions. Pipeline thermal insulation materials can help maintain the temperature of the transported materials and prevent heat loss, thereby reducing the need for additional energy to heat or cool them.

Government regulations aimed at reducing greenhouse gas emissions are also driving the market. Many countries have implemented regulations that require buildings and industrial facilities to improve their energy efficiency, which has increased the demand for pipeline thermal insulation materials. The pipeline thermal insulation materials market is segmented based on material type, application, and geography. Based on material type, the market is segmented into fiberglass, cellular glass, rock wool, and others. Based on application, the market is segmented into oil and gas, chemical, district heating and cooling, and others.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Asia-Pacific is expected to be the fastest-growing market, driven by the growing demand for energy-efficient buildings and rising oil and gas production in the region.

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Key findings of the Pipeline Thermal Insulation Materials market study:

  • The report provides a present market outlook on Pipeline Thermal Insulation Materials. Additionally, the Pipeline Thermal Insulation Materials market share is anticipated to grow with a CAGR of 6.1% in the forecast period.
  • Regional breakdown of the Pipeline Thermal Insulation Materials market based on predefined taxonomy.
  • Innovative manufacturing processes implemented by Pipeline Thermal Insulation Materials vendors in detail.
  • Region-wise and country-wise fragmentation of the Pipeline Thermal Insulation Materials market to grasp the revenue, and growth outlook in these areas.
  • Changing preferences among consumers across various regions and countries.
  • Factors (Positive and Negative) impacting the growth of the global Pipeline Thermal Insulation Materials market.
  • Pipeline Thermal Insulation Materials price, market share, and Trends forecast for assessment period 2022-2032

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

The Asia-Pacific region is expected to account for more enhanced demand for the global pipeline thermal insulation materials market. This is due to the increasing demand for energy-efficient buildings and rising oil and gas production in the region. Several countries in the Asia-Pacific region, including China, India, Japan, and South Korea, are witnessing rapid growth in their construction and infrastructure sectors. This has led to an increase in demand for pipeline thermal insulation materials to improve the energy efficiency of buildings and reduce energy costs.

Moreover, the Asia-Pacific region is one of the largest producers and consumers of oil and gas globally. The increasing demand for oil and gas in the region has led to the expansion of pipeline infrastructure, which, in turn, has increased the demand for pipeline thermal insulation materials. Additionally, the region is witnessing significant investments in district heating and cooling systems, which use pipelines to transport hot and cold water to homes and businesses. The adoption of these systems is expected to drive the demand for pipeline thermal insulation materials in the region.

Therefore, the Asia-Pacific region is expected to be the fastest-growing market for pipeline thermal insulation materials during the forecast period.

Competitive landscape analysis

Because of the existence of several local and regional companies, the worldwide pipeline thermal insulation materials market is fragmented and competitive. It is also distinguished by the fierce rivalry that exists between the firms and rivals. Leading players have implemented a variety of tactics, including expansions, mergers & acquisitions, collaborations, and partnerships.

In addition, prominent organisations use new product creation as a strategic way to increase their market presence among customers. As a result of these efforts, innovative pipeline thermal insulation materials have been incorporated.

As an example:

  • Murugappa Morgan Thermal Ceramics Limited attended the PowerGen International & Distributech International event on the 29th of January 2022, which was held from the 26th to the 28th of January 2022. It displayed a wide range of its products at the event.
  • Equinor and ENGIE, an energy firm, unveiled the H2BE plan on December 16, 2021, with the goal of producing natural gas-derived low-carbon hydrogen in Belgium using ATR technology (auto thermal reformation) combined with storage and carbon capture.

Some of the leading companies operating in the market are :

  • 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.

 What insights does the Pipeline Thermal Insulation Materials report provide to the readers?

  • Pipeline Thermal Insulation Materials fragmentation on the basis of product type, end use, and region.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Collaborations, R&D projects, acquisitions, and product launches of each Pipeline Thermal Insulation Materials
  • Various regulations imposed by the governments on the consumption of Pipeline Thermal Insulation Materials in detail.

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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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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