Global pipe insulation market to reach USD 11.42 billion by 2027.Global pipe insulation market is valued at approximately USD 7.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.4 % over the forecast period 2021-2027. Pipe insulation is a material or mixture of materials that protects pipes and decreases heat loss or gain from surfaces working at temperatures above or below the ambient temperature. The need for pipe insulation is driven by rising oil production in countries such as the United States, Saudi Arabia, Iran, and Russia. In addition, the requirement to insulate pipelines is driving demand for pipe insulation. Increased adoption of district heating systems is likely to boost market expansion in the United States, owing to rising power rates, increased environmental awareness, and technological advancements. In addition, over the projected period, increased investment in the expansion of gas liquefaction terminals is predicted to drive product demand. High market competitiveness has emerged from the presence of a large number of manufacturers and service providers, as well as the easy availability of raw materials and simple installation techniques. The cost of pipe insulation varies depending on the manufacturing process and the raw materials utilized. As there are so many competitors in the market, the industry is highly fragmented. Customers want eco-friendly and diverse product portfolios; thus market participants are putting a lot of effort into that. The companies also highlight the use of raw materials to ensure a consistent supply, as well as the overall cost-effectiveness of the pipe insulation system. For instance, in 2018, Huntsman announced that a new Polyurethanes Systems House will be built in Dubai. Pipe insulation products are made from polyurethanes. This development is expected to help the corporation improve its Middle Eastern market position. Similarly, in October 2018, Kaimann GmbH International, one of Europe's major makers of elastomeric insulating products, was acquired entirely by Saint-Gobain. However, volatile raw material prices may impede the market growth over the forecast years.

The regional analysis of the Global pipe insulation market is segmented for the key regions such as North America, Europe, Asia Pacific, Latin America, and Rest of the World (ROW). North America is the dominating region across the world in terms of market share due to rising demand from the oil and gas sector in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growing investments in the chemical processing industry.
Major market player included in this report are:

Armacell
Lydall, Inc.
Kingspan Group
Owens Corning
Huntsman International LLC
Saint-Gobain Group
Rockwool Insulation A/S
Johns Manville
Knauf Insulation
BASF SE

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product :
Cellular glass
Polyurethane & Polyisocyanurate Foam
Fiberglass
Elastomeric Foam
Others
By Application:
Industrial
Building & Construction
District Energy System
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018,2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global pipe insulation market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors