Global pipeline thermal insulation materials market is estimated to be worth over USD 2.7 Billion in 2022

The global pipeline thermal insulation materials market is estimated to be worth USD 2.7 billion in 2022 and is expected to exceed USD 4.8 billion by 2032, growing at a CAGR of 6.1% between 2022 and 2032.

 

Rapid industrial growth in the country, combined with rapid urbanisation and GDP growth, is expected to drive significant growth in the pipeline thermal insulation materials market. Furthermore, the India pipeline thermal insulation materials market is expected to benefit from favourable government policies for the manufacturing sector as well as the country's rising ease of doing business index. Furthermore, rapid growth in the chemical and petrochemical industries is expected to provide a lucrative growth opportunity for the India pipeline thermal insulation materials market over the forecast period.

 

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Furthermore, rising environmental concerns and a greater emphasis on the development of sustainable energy, combined with increased adoption and use of insulation materials for process applications, are expected to gain traction across a wide range of industries, including oil and gas, power generation, food and beverage, and chemical and petrochemical. This is expected to significantly drive the India pipeline thermal insulation materials market.

 

Segmentation Analysis

 

The rock mineral wool segment is expected to maintain its dominance in the India pipeline thermal insulation materials market throughout the forecast period, accounting for a volume share of more than 50% by the end of 2018. Glass mineral wool is expected to trail the rock mineral wool segment in the India pipeline thermal insulation materials market, accounting for nearly one-seventh of the total market share.

 

The India pipeline thermal insulation material market has been divided into three segments based on temperature: 100 °C - 200 °C, 200 °C - 500 °C, and above 500 °C. The 200 °C - 500 °C segment dominates the Indian pipeline thermal insulation materials market and is expected to do so for the foreseeable future.

 

The India pipeline thermal insulation materials segment can be divided into chemical, pharmaceutical, food & beverage, power plant, oil & gas, mining & metallurgy, and others based on end-use industry. Over the forecast period, chemicals and power plants are expected to be the most profitable segments with significant growth opportunities.

 

Insights from Vendors

The pipeline thermal insulation materials market in the country is highly fragmented, with many small-scale manufacturers and fierce competition between companies.

 

Murugappa Morgan Thermal Ceramics Limited, U.P. Twiga Fiberglass Limited, NGP Industries Limited, Dhanbad Rockwool Insulation Pvt. Ltd., Lloyd Insulations (India) Ltd., Rockwool India Pvt. Ltd., Rockwool International A/S, HIL Limited, and Aspen Aerogels Inc. are among the leading companies operating in the India pipeline thermal insulation materials market.

 

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Report Attributes	Details
Base Year Value (2021A)	USD 2.5 Billion
Estimated Year Value (2022E)	USD 2.7 Billion
Projected Year Value (2032F)	USD 4.8 Billion
Global Growth Rate (2022-2032)	CAGR 6.1%
North America Market Share in 2021	~27%
North America Growth Rate (2022-2032)	CAGR 7.2%
Collective Value Share (USA, China, Germany and India) 2022: Top 4 Countries	~42%

 

Global Pipeline Thermal Insulation Materials Market Segments

• By Product Type :
• Calcium Silicate
• Ceramic Fibre
• Cellular Glass
• Glass Mineral Wool
• Rock Mineral Wool
• Polyurethane Foam
• Microporous Insulation
• Aerogel
• Other Materials

 

• By Temperature :
• 100 °C – 200 °C
• 200 °C – 500 °C
• Above 500 °C

 

• By End-Use Industry :
• Chemical
• Pharmaceutical
• Food & Beverage
• Power Plant
• Oil & Gas
• Mining & Metallurgy
• Other Industries

 

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The global pipeline thermal insulation materials market is divided into six major regions: North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA. North America pipeline thermal insulation materials dominate the global pipeline thermal insulation materials market, accounting for approximately 27% of total market share.

 

Due to increased production and consumption of the material in the region, the regional market is expected to grow at a CAGR of 7.2% over the forecast years. Furthermore, due to increased consumption in the region, Canada is expected to trail the United States in the North American pipeline thermal insulation materials market share.


PR Newswire