Rockville, MD, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The Global Pipeline Thermal Insulation Material Market size is projected to reach a size of US$ 5.47 billion by the end of 2034, up from US$ 3.02 billion in 2024. Worldwide revenue from the sales of pipeline thermal insulation materials is evaluated to rise at a CAGR of 6.1% from 2024 to 2034.
Pipe insulation involves coating or insulating pipes with a material to reduce heat gain or loss, prevent condensation, and protect against freezing. This process includes encasing the pipes in insulating material to create a barrier that maintains the desired temperature of the fluid flowing through them. Pipe insulation is commonly used in industrial settings where pipes carry hot water, steam, or other fluids.
Pipeline thermal insulation materials offer several benefits such as improved system performance, cost savings, and energy efficiency. It prevents condensation on cold pipes, which can lead to mold growth, corrosion, and moisture damage. Extensive usage of pipe insulation materials in various industries such as construction, aerospace, and oil and gas is driving market growth. Plumbing pipes are insulated to prevent heat loss in systems that distribute hot water.
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Key Takeaways from Market Study:
- The global pipeline thermal insulation material market is projected to reach a value of US$ 5.47 billion by 2034-end.
- The North American market is projected to expand at 5.5% CAGR from 2024 to 2034.
- Sales of pipeline thermal insulation materials in East Asia are forecasted to reach US$ 1.37 billion by 2034-end.
- The market in Japan is analyzed to expand at 6.5% CAGR from 2024 to 2034.
- The above 500 °C temperature segment is set to reach a value of US$ 2.73 billion in 2024.
- The market in Canada is projected to expand at a 5.2% CAGR through 2034.
“The chemical industry extensively uses pipeline insulation materials. As this industry grows, demand for insulation materials is also increasing in parallel. These materials are essential for maintaining the integrity of pipelines and ensuring efficient transportation of chemicals,” says a Fact.MR analyst.
Leading Players Driving Innovation in Pipeline Thermal Insulation Material Market:
Hertel; MOWCO Industry Limited; Protek; Sat Insulation Materials Industry; Insulpro; Perma-Pip; The Bayou; Technipfmc; Chemtech Foundation; Huntsman.
Pipeline Thermal Insulation Material Market Industry News:
- In 2022, Armacell took over the engineering operations of Tokyo-based SpiderPlus & Co. Ltd., a company that specializes in the production and provision of thermal insulation systems for piping and ductwork. This strategic acquisition is expected to strengthen Armacell’s position in the local construction and HVAC sectors, as it can now offer ArmaFlex products, which are recognized as the leading thermal insulation solutions in Japan.
- The market for pipeline thermal insulation materials is highly competitive with several companies vying for a significant share. Key players in this market are Hertel, MOWCO Industry Limited, Protek, Sat Insulation Materials Industry, and Insulpro.
- In 2022, Saint-Gobain S.A. Invested in a brand new manufacturing line for blowing glass wool at its ISOVER plant in France. This investment was made to cater to the developing demand in the French marketplace for thermal insulation solutions for roof areas.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the pipeline thermal insulation material market for 2019 to 2023 and forecasts market statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (calcium silicate, ceramic fiber, cellular glass, glass mineral wool, rock mineral wool, polyurethane foam, microporous insulation, aerogel), temperature
(100 °C to 200 °C, 200 °C to 500 °C, Above 500 °C), and end-use industry (chemicals, pharmaceuticals, food & beverages, power plants, oil & gas, mining & metallurgy), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
Key Segments of Pipeline Thermal Insulation Material Market Research:
- By Product Type :
- Calcium Silicate
- Ceramic Fiber
- Cellular Glass
- Glass Mineral Wool
- Rock Mineral Wool
- Polyurethane Foam
- Microporous Insulation
- Aerogel
- By Temperature :
- 100 °C to 200 °C
- 200 °C to 500 °C
- Above 500 °C
- By End-Use Industry :
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Power Plants
- Oil & Gases
- Mining & Metallurgy
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