The Pipe Insulation Foam Market size is expected to reach USD 12.72 Billion in 2028 and register a revenue CAGR of 3.6% over the forecast period, according to the latest report by Reports and Data. Demand for district energy systems, rapid industrialization in developing countries, increasing concerns about energy efficiency, and increasing oil production in the U.S., Saudi Arabia, Iran, and others has been driving steady revenue growth of the global Pipe Insulation Foam market in the recent past. In addition, rising demand for thermal insulation in various industrial sectors increasing focus on green buildings due to the various benefits and advantages are other key factors expected to continue to drive market revenue growth going ahead. Pipe Insulation Foams are a type of material or combination of materials used to create a protective layer around pipes to maintain internal temperature. Deployment of thermal insulation solutions have been increasing in tshe recent past owing to increasing focus on energy efficiency and need to reduce carbon footprint.
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Pipe Insulation Foam products are commonly used in the industrial sector, oil fields and refineries, district energy systems, buildings and constructions, and others. Industrial application segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing demand for thermal insulation in food processing and chemical industries, and increasing industrialization in developing countries. Ongoing technological advancements and increasing funding by private investors in technological research and development activities are some key factors expected to drive revenue growth of the global Pipe Insulation Foam market over the forecast period.
Top Companies include Owens Corning, Thermaxx Jackets, Saint-Gobain, Armacell International S.A., Huntsman Corporation, Johns Manville, Knauf Insulation, BASF SE, Armacell International SA, and Covestro AG.
Some Key Highlights From the Report:
- In March 2021, va-Q-tec and Uponor launched an insulated system for local heating networks, Uponor Ecoflex VIP. It helps to reduce CO2 emissions, and comes with Vacuum Insulation Panels (VIPs) that offer enhanced flexibility and minimize installation time.
- Rock wool segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing application of rock wool due to its various benefits such as cost-effectiveness, eco-friendly, and non-flammable nature.
- North America is expected to register significantly larger revenue share over the forecast period. Rapid technological advancements and rising preference for green building are some major factors driving revenue growth of the market in this region.
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Market Summary
Over the years, mergers and acquisitions, collaborations, and partnerships have played a pivotal role in companies’ plans of expanding customer base and gaining a robust footing in the market. Rising investments by the key industry players for the RD activities will further bolster market growth over the analysis period.
The report utilizes key statistical tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and venture return analysis to offer better insights into the market landscape. The report also covers recent developments and provides a comprehensive industry overview to help readers understand the complete scenario and dynamics of the global Pipe Insulation Foam market.
For the purpose of this report, Reports and Data has segmented the Pipe Insulation Foam market based on type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Fiberglass
- Rock wool
- Elastomeric Foam
- Polyurethane Foam
- Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Industrial Sector
- Oil and Refineries
- District Energy Systems
- Building Construction
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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