MarketResearch.biz announces publication of its most recently generated research report titled, “Global Pipe Insulation Market by Material Type (Mineral Wool, Fiberglass, Foams, Other Material Types), Industry Vertical (Oil & Gas, Energy & Power, Manufacturing Industry, Building & Construction, Other Industry Verticals), and Region – Global Forecast to 2030.”, which offers a holistic view of the Global Pipe Insulation Market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 50,249.4 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Pipe insulations are materials or combinations of materials that are coated around the pipe, which holds back the flow of heat energy. Usually, thermal or acoustic insulation is done around the pipe. Such insulations decrease energy losses to a certain extent, which results in reducing energy costs and upsurging longetivity.
Global Pipe Insulation Market: Market Dynamics
Growing technological developments and advancements in emerging economies such as India and China and increasing demand and enhancing industrial processes operating at extreme temperatures is expected to bolster the target market.
However, the fluctuating raw material prices along with the safety concerns are the critical factors that will gravitate towards hindering the pipe insulation market
An increase in focus on energy conservation by decreasing heat gain or heat loss to minimize operational costs, coupled with an increase in demand for an effective temperature control solution from several sectors, including oil & gas and energy & power, are some of the factors creating optimistic opportunities for the industrial pipe insulation market.
Global Pipe Insulation Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global pipe insulation market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global pipe insulation market is estimated to expand at a CAGR of 3.6% during the forecast period.
Global Pipe Insulation Market: Segmental Snapshot
The market report has been segmented on the basis of material type, industry vertical, and region/country. The material type segment includes mineral wool, fibreglass, foams, and other material types. The industry vertical segment includes oil & gas, energy & power, manufacturing, building & construction, and other end-use industries. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By material type: The mineral wool segment is expected to register a CAGR of over 3.9%, but foams segment is accounting for highest revenue share among the material type segments.
By industry vertical: The manufacturing industry segment is expected to register a CAGR of over 4.1% over the forecast period, thereby accounting for highest revenue share among the industry vertical segments.
By region: The market in APAC accounted for highest revenue share in the global pipe insulation market in 2020, and is estimated to register a CAGR of over 4.0% between 2020 and 2030.
Global Pipe Insulation Market: Competitive Analysis
The research report on the Global Pipe Insulation Market Pipe Insulation Market includes profiles of major companies such as Berkshire Hathaway Inc., BASF SE, Compagnie de Saint-Gobain S.A , Covestro AG , Kanuf Group (Knauf Insulation Ltd.), Owens Corning, Нuntѕmаn Corporation, Kingspan Group Plc, Rockwool International A/S,and PAI Partners.
The Global Pipe Insulation Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2030 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global pipe insulation market for 2020–2030.
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