Expansion of the oil & gas sector will lead to increasing demand for pre-insulated pipes.
Soaring use of pre-insulated pipes in district heating and cooling applications is likely to fuel the demand through 2031. Rising demand from oil & gas, chemicals and other end-use industries is likely to accelerate the pre-insulated pipes sales. As projected by Future Market Insights, the market is poised to expand at a moderate pace, exhibiting 5.8% CAGR between 2021 and 2031.
Pre-insulated pipes provide thermal efficiency, improved safety features, lower maintenance, and reduced labor cost. These features are creating lucrative growth opportunities for manufacturers. Among key end users, district heating & cooling industry accounts for 27% of total market share. Rising demand for district cooling system applications for providing chilled water, steam, and gas have been fuelling the demand for pre-insulated pipes across India and GCC countries.
“Increasing research and development activities to offer advanced pre-insulated pipes configuration are bolstering growth. Surge in demand for advanced pre-insulated pipes from suppliers and end-use industries will enable growth,” remarks the FMI analyst.
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Key Takeaways
- In terms of configuration, single pre-insulated pipes are highly sought-after
- Metal & alloy pipes are expected to hold major market share in forecast period
- Below ground installation accounts for nearly 70% of pre-insulated pipes market share
- United States is expected to lead the North American market backed by the major development in oil & gas industry
- High demand in district heating & cooling application to drive the pre-insulated pipes market across Germany
- Pre-insulated pipes market in India is set to expand at 7.5% CAGR through 2021
- Increased demand for district cooling systems across GCC countries to lead MEA pre-insulated pipes market
- China is expected to display highest sales for pre insulated pipes due to growing district heating & cooling projects in country
Prominent Drivers
- Heightened growth in district heating and cooling industry is driving the demand of pre-insulated pipes
- Factors such as controlled labor cost and high investment in emerging economies are key drivers
- Penetration of pre-insulated pipes in applications such as oil & gas, water treatment is likely to improve the demand
Key Restraints
- High cost of raw materials and pre-insulated pipes may restrain the growth of market
- Stringent regulatory compliances implemented such as API (American Petroleum Institute) and ASTM (American Society for Testing Materials) are acting as barrier for new entrants
Discover more about the Pre-insulated pipes market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/pre-insulated pipes-market
Competitive Landscape
Leading manufacturers profiled by FMI includes Georg Fischer AG, Uponor Corporation, Watts Water Technologies, LOGSTOR A/S, Brugg Group Ag, Polypipe Group PLC, Vital Energi Utilities Limited, Perma-Pipe International Holdings Inc., Elips – Empower Logstor, KE KELIT, Thermaflex International Holding b.v., Ecoline S.R.L., Aquatherm GmbH, CPV Ltd., Insul-Pipe Systems, Thermal Pipe Systems Inc., and ZECO Aircon Ltd. among others. FMI evaluates the market is highly competitive. Key players are focusing on product innovation, and strategic mergers with end-users and distributors to maintain a competitive edge in the industry.
For instance, on 1st February 2021, Perma-Pipe international Holdings Inc. announced a contract from LLOG Exploration Offshore to supply over 5 miles of subsea insulation for tiebacks in the Dome Patrol Field in the Gulf of Mexico. The project is expected to utilize FLOW-THERM, a glass syntactic polyurethane, most popular thermal insulation product suitable for deep water and temperatures.
Also, in March 2021, Uponor announced the launch of Next-Gen Ecoflex VIP Thermo pre-insulated pipes designed to make heating systems more sustainable for the safe transportation of water around a building.
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More Insights on FMI’s Pre-Insulated Pipes Market
In latest report of global pre-insulated pipes market, FMI provides an incisive coverage on the market for period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and challenges, the market is segmented on the basis of material type (metal & alloys, and polymers), pipe configuration (single pipe & twin pipe), installation (below ground and above ground), end-user (district heating & cooling, oil & gas, chemical, pharmaceutical and others) and region (North America, Europe, Latin America, South Asia & Pacific, East Asia and Middle East & Africa).
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