Industrial Pipe Insulation Materials Industry Size, Share, Demand & Growth by 2028
As predicted by Future Market Insights through a recently published research report, the
global revenue of industrial pipe insulation material market is likely to reach a valuation of
over US$ 1,835.2 million by the end of 2028. The market expansion over 2022-2028 has
been estimated at a CAGR of 4.1%.
Growing focus on reduced energy conservation and greenhouse gas emission, coupled with
multiple government initiatives promoting energy efficiency and sustainable development
through advanced insulation technologies, is expected to favor the growth of the global
industrial pipe insulation material market. The use of recycled insulation materials is trending
the market at present, owing to rising environmental concerns. A majority of manufacturers
are focusing on using sustainable materials such as polyurethane foam and fiberglass.
With growing awareness about the advantages offered by mechanical insulation in recent
years, resulting in increasing adoption by industries worldwide. Industrial pipe insulation
constitutes a crucial part of the mechanical insulation industry, which is also witnessing
steady growth since recent past.
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Industrial pipe insulation market includes pipe insulation adopted by process industries,
refineries, thermal power plants, refrigeration and HVAC applications, and food processing
units. Growth of industrial activity strongly impacts the demand for pipe insulation materials
worldwide, as insulation systems play a critical role in safeguarding system’s performance in
various end-use spheres. Furthermore, increasing energy cost also proves to be an important
factor impacting the growth of industrial pipe insulation material market.
Energy conservation equates to reduced energy costs, which in some cases amounts to several
hundred dollars (in savings) per annum. As a result, insulation is expected to become even
more significant, resulting in higher adoption by a number of industries, including oil & gas,
energy generation, chemical, and food & beverages, among others.
Upsurge in Material Innovation & Increase in Old Pipe Replacement to Create
Lucrative Opportunities
Surge in replacement of aged pipes, in addition to growing innovation in materials used in
insulation of industrial pipes, will reportedly create attractive opportunities for manufacturers
in near future. Lack of proper insulation leads to significant energy loss, eventually resulting
in additional costs to businesses. The amount of energy lost through improperly insulated
pipes can be 10x the energy that can be potentially delivered through them. Moreover,
unchecked damages in aged pipelines lead to leakages, resulting in loss of materials.
Also, decoration of pipe insulation along with pipes contributes to an increase in energy loss,
further contributing to environmental pollution. Manufacturers are focusing on the
development of anti-corrosive and anti-abrasion materials, sustainable and eco-friendly
materials, and energy saving and cost effective materials.
Moreover, companies are expected to introduce various insulation materials, which can offer
thermal resistance, prevent pinhole leaks, reduce carbon footprint, provide UV resistance, and
protect against fungal infections.
Manufacturers are foreseen to target high-potential markets such as Asia Pacific, and
strengthen their foothold in regions such as Europe and North America.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and
pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and
renewable technology developments, and supply-demand-trade assessment. Our research
studies serve as referencing market guidelines for chemical manufacturers, research
institutions, channel partners, and government bodies for developing — ‘The Way Forward’.
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