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Based on Technavio's market sizing methodology, the pipe insulation market size is predicted to surge by USD 2.50 billion from 2021 to 2026 at a CAGR of 5.24%.
This pipe insulation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The pipe insulation market report offers information on several market vendors, including Armacell International SA, BASF SE, Compagnie de Saint Gobain SA, Covestro AG, Gilsulate International Inc., Huntsman Corp., Johns Manville, Kingfisher Plc, Kingspan Group Plc, Knauf Gips KG, Lydall Inc., NMC International SA, Omkar Puf Insulation Pvt. Ltd., Owens Corning, Paramount Intercontinental, ROCKWOOL International AS, Sekisui Foam Australia, The Supreme Industries Ltd., and Wincell Insulation Co. Ltd. among others.
This report further entails pipe insulation market segmentations, including:
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The growing demand for green buildings is notably driving the pipe insulation market growth, although factors such as volatile raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pipe insulation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Pipe Insulation Market Driver
The growing demand for green buildings is one of the key drivers supporting the pipe insulation market growth. According to a recent survey, global green building activity has continued to rise, with a considerable increase projected in 19 nations over the next three years. Almost half of all respondents had anticipated constructing more than 60% of their projects as green buildings by 2021. Building owners, in particular, were ecstatic about the development of the green buildings, with 57% expecting to make the majority of their projects green by 2021. Thus, the increasing number of green building construction is increasing the demand for pipe insulation. Such increasing demand will drive the pipe insulation market growth during the forecast period.
Key Pipe Insulation Market Trend
Expansions of vendors is one of the key pipe insulation market trends that is contributing to the market growth. For, instance, in September 2020, Saint-Gobain announced the acquisition of Strikolith in the Netherlands, a company specialized in the production of external insulation systems, interior finishing, and renovation products and solutions. Thus, Saint-Gobain strengthened its position in external insulation systems and interior finishing solutions in the Netherlands. Such factors will increase the production and sales of pipe insulation and, in turn, accelerate the growth of the pipe insulation market during the forecast period.
Key Pipe Insulation Market Challenge
Volatile raw material prices is one of the factors hindering the pipe insulation market growth. A range of raw materials, such as fiberglass, mineral wool, and others are used to produce pipe insulation. One of the key reactive materials required to produce polyurethane foam is a diisocyanate. Meanwhile, the most widely used isocyanates for polyurethane foam production are toluene diisocyanate (TDI) and polymeric isocyanate. These isocyanates are mainly produced from benzene and its derivatives manufactured from crude oil. Thus, the volatility in crude oil prices adversely affects the cost of these raw materials, in turn affecting the manufacturing cost of polyurethane foam. These factors will hamper the pipe insulation market growth during the forecast period.
This pipe insulation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global pipe insulation market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the pipe insulation market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the pipe insulation market encompasses successful business strategies deployed by the key vendors. The pipe insulation market is fragmented and the vendors are deploying growth strategies such as developing innovative products and increasing their R and D investments to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The pipe insulation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the pipe insulation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market's growth will originate from North America during the forecast period. The US is the key market for pipe insulation market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The increasing environmental consciousness and technological advancements will facilitate the pipe insulation market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In the first half of 2021, the region was negatively affected by the second wave of the COVID-19 pandemic. However, there have been growing investments in healthcare facilities in developing countries such as the US to strengthen their medical facilities. These factors will drive the need to deploy pipe insulation in hospitals and facilities and positively impact regional pipe insulation market growth during the forecast period.
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The pipe insulation market share growth by the building and construction segment will be significant during the forecast period. In the construction and infrastructure industry, pipe insulation is primarily used for pipework, such as thermal insulation or acoustic insulation. It provides very high electrical and thermal insulation and is resistant to chemicals, making them ideal for external and internal insulations. Pipe insulation can prevent condensation from forming, as the surface temperature of the insulation will vary from the surface temperature of the pipe. Therefore, the increasing number of residential, commercial, and infrastructure projects globally will generate demand for pipe insulation and thereby driving the market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the pipe insulation market size and actionable market insights on post COVID-19 impact on each segment.
Pipe Insulation Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2022-2026 |
$ 2.50 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.19 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 47% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Armacell International SA, BASF SE, Compagnie de Saint Gobain SA, Covestro AG, Gilsulate International Inc., Huntsman Corp., Johns Manville, Kingfisher Plc, Kingspan Group Plc, Knauf Gips KG, Lydall Inc., NMC International SA, Omkar Puf Insulation Pvt. Ltd., Owens Corning, Paramount Intercontinental, ROCKWOOL International AS, Sekisui Foam Australia, The Supreme Industries Ltd., and Wincell Insulation Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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