Pipe Insulation Market Expected to Reach $15.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pipe Insulation Market," The pipe insulation market was valued at $9.1 billion in 2022, and is estimated to reach $15.8 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.

The global pipe insulation market is expected to have risen steadily over the past couple of years, owing to the enormous growth in the construction, industrial and agriculture sectors. Pipe insulation is a process of insulating pipes with a combination of materials which gives protection to pipes. It also prevents the heat gain or heat loss from surfaces of the pipes and helps them to maintain the temperatures. Foam wraps, some coatings, flexible films, and other rigid insulation materials are used in the process of insulating pipes to protect the pipes not only from heat but also from water or moisture, corrosion, chemical interactions or other damages and breakage.

Insulation products are widely used in many industries such as paper, agriculture, automotive, chemical and construction. Pipe insulation products may be rigid or flexible. The raw materials used in making the insulation products are – glass fiber, wool, polyethylene, rubber, wood, and aluminum foil. 

Rising stringent regulations to insulate pipelines and increasing production of oil is widely believed to be driving the global pipe insulation market. Constant temperature fluctuations, contact with moisture and water, and chemical interactions cause damage to non-insulated pipes and also the materials flowing through them. The pipe insulation process also protects the pipes from breakage at the time of shipment. It provides support to the pipes internally as well as externally. The high compressive strength and non-flammable nature of the insulating materials are projected to boost the global pipe insulation market. 

Increasing applications of pipe insulation products in various end use industries, growing awareness on workers' health safety and environmental safety are expected to fuel the growth in the global pipe insulation market. The pipe insulation products offer efficiency and long-life sustainability to the manufacturing plants. 

The pipe insulation market is divided on the basis of material, application, and region. On the basis of material, the market is classified into fiberglass, rockwool, silicates, polyurethane, rubber foams, and others. On the basis of application, the market is divided into building and construction, oil and gas, transportation, general industrial, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

The key players operating in the pipe insulation market are Armacell, BASF SE, Dow, Huntsman International LLC, Johns Manville, Kingspan Group, Knauf Insulation, Lydall, Inc., Owens Corning, and Saint-Gobain. These players have adopted various key strategies including expansion, agreement, and acquisition to increase their market share. These players have adopted various key strategies including agreement, collaboration, expansion, and partnership, to increase their market shares. On the basis of material, the rockwool segment dominated the global pipe insulation market in 2022.  

Rockwool boasts remarkable sound absorption capabilities. It effectively dampens noise transmission through pipes, creating a quieter and more comfortable environment. This feature is particularly valuable in applications where noise control is critical, such as HVAC systems in commercial buildings or industrial settings. On the basis of application, the buildings and construction segment dominated the global pipe insulation market in 2022.

The use of pipe insulation in the buildings and construction industry is driven by several factors that contribute to its growing demand and adoption. These driving factors are closely aligned with the industry's focus on energy efficiency, sustainability, and building performance.On the basis of region, Asia-pacific has a dominant share in the market and is anticipated to experience rapid growth in the pipe insulation market. The Asia-Pacific pipe insulation market is experiencing significant growth due to several driving factors.  

Firstly, the rapid urbanization and industrialization in countries such as China, India, and Japan have led to increased construction activities and infrastructure development. This has resulted in a surge in the demand for pipe insulation in various sectors including residential, commercial, and industrial. 

Key finding of the study

• Asia-Pacific is projected to grow at the highest CAGR of approximately 6.0%, in terms of revenue, during the forecast period.
• By material, the rockwool segment is anticipated to grow with CAGR 5.8%, in terms of revenue, during the forecast period.
• By application, the buildings and construction segment is anticipated to grow with CAGR 5.7%, in terms of revenue, during the forecast period.
• A comprehensive analysis of the factors that drive and restrain the market growth is provided
• The qualitative data in this report aims at the market dynamics, trends, and developments in the industry.