Pipe Insulation Market Asia-Pacific is projected to be the fastest growing market for Pipe Insulation during the forecast period 2018─2023
Pipe Insulation Market Overview
Global Pipe Insulation Market has been segmented by type, end-use industry, and region.
Based on raw material, the global pipe insulation market has been segmented into foamed plastic, elastomeric foam, fiber glass, mineral wool, and others. Among them, the mineral wool segment held the largest market share in 2018 due to its excellent fire-resistance and high compressive strength. Additionally, it is derived from renewable raw material and does not cause any harm to the environment. However, the foamed plastic segment is expected to grow at a fastest CAGR during the forecast period due to its superior thermal, acoustic, and moisture barrier properties.
Based on end-use industry, the global pipe insulation market has been segmented into chemical, oil & gas, power, automotive, building & construction, food & beverages, pharmaceutical, and others. Among them, the oil & gas segment held the larger market share in 2018, in terms of both value and volume, due to the huge size of the oil & gas industry as well due to the growing cross border oil & gas transportation.
Competitive Analysis
BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (US), Rockwool International A/S (Denmark), Saint-Gobain (France), Armacell International SA (Luxembourg), Owens Corning (US), Thermaxx Jackets (US), Cellofoam GmbH & Co. KG (Germany), Great Lakes Textiles (US), Kingspan Group (Republic of Ireland), Knauf Insulation (UAE), Wincell Insulation Co.Ltd (China), Dunmore (US) and Johns Manville (US).
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Global Regions
The global pipe insulation market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Asia-Pacific accounted to be the largest and fastest growing market of pipe insulation market in 2018 and is expected to continue similar growth during the forecast period. Rapid industrialization in the emerging economies of Asia-Pacific such as China and India are contributing largely to the global pipe insulation market. Rapidly growing oil & gas industry in the region to reduce the dependence on import and achieve oil & gas self-sufficiency are likely to drive strong demand for pipe insulation in the region.
Additionally, cross border oil & gas transportation pipeline plans, for instance, on 24 March 2018, India announced its plan to build a diesel pipeline from the country’s east coast to Myanmar, is also expected to boost the demand for pipe insulation. Furthermore, growing end-use industries such as chemical, food & beverages, pharmaceutical are also showcasing strong demand for pipe insulation. Growing power industry due to rising energy demand on account of rising population is also boosting the demand for pipe insulation in the region.
North America and Europe was collectively following Asia-Pacific in terms of market size in 2018. Stringent regulatory standards are supporting the global pipe insulation market in the region. However, due to the mature end-use industries in these regions, the pipe insulation market in these regions is expected to witness steady growth during the forecast period.
The Middle East & Africa is expected to exhibit significant demand for pipe insulation during the forecast period. Strong oil & gas industry is contributing largely to the product market and is expected to ensure stable revenue source during the forecast period. Additionally, the regional food & beverage industry is showing significant growth in the recent days due to the higher disposable income, changing food habits & culture, and growing demand for regional foods across the globe (chocolates, snacks), which thereby results in the increasing demand for pipe insulation in the region.
Latin America market held the least market share of the global pipe insulation market in 2018. Slow economic development is attributed to the low demand for pipe insulation in the region.
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Market Segmentation
The global pipe insulation market has been segmented by type, end-use industry, and region.
Based on type, the global pipe insulation market has been segmented into foamed plastic, elastomeric foam, fiber glass, mineral wool, and others.
On the basis of end-use industry, the global pipe insulation market has been categorized into chemical, oil & gas, power, automotive, building & construction, food & beverages, pharmaceutical, and others.
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics Of Global Pipe Insulation Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology
5 Market Factor Analysis Of Global Pipe Insulation Market
Continued. . . .
LIST OF FIGURES
FIGURE 1 Global Pipe Insulation Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis Of Global Pipe Insulation Market
FIGURE 4 Value Chain Of Global Pipe Insulation Market
FIGURE 5 Share Of Global Pipe Insulation Market In 2018, By Country
FIGURE 6 Global Pipe Insulation Market, 2016−2023,
FIGURE 7 Global Pipe Insulation Market Size, By Type, 2018
FIGURE 8 Share Of Global Pipe Insulation Market, By Type, 2016−2023
FIGURE 9 Global Pipe Insulation Market Size, By End-Use Industry, 2018
FIGURE10 Share Of Global Pipe Insulation Market, By End-Use Industry, 2016−2023
Continued. . . .
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