The global pipe insulation market will grow to USD 2.6 billion by 2027, at a CAGR of 3.8% from USD 2.2 billion in 2022.Pipe insulation is composed of materials or a combination of materials, which add a protective covering to pipes and reduce the heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperatures. It prevents the formation of condensation on pipework, and thus acts as a protective barrier against moisture, which can build up inside a pipe, leading to different types of corrosion.
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The key market players profiled in the report include Saint-Gobain S.A. (France), BASF S E (Germany), Johns Manville (US), Owens Corning (US), Kingspan Group PLC (UK), Rockwool A/S (Denmark), Covestro AG (Germany), Huntsman Corporation (US), Armacell (Luxembourg) and Knauf Insulation (US) and others.
Saint-Gobain S.A. is among the largest players in insulation market and is focusing on expanding the availability of its products and services in different regions. The company focuses on the field of stone wool material which provides pipe insulation for the different applications. As there is rising demand for glass wool insulation the company tend to expand its production in its ISOVER plant at France which is strengthened its market value in Europe.
- In March 2022, company made an investment in a new blowing glass wool production line in its ISOVER plant in France to meet the rising demand of the French market for roof space thermal insulation solutions.
BASF SE is a highly innovative company and delivers superior-quality products to its customers in line with the accelerating demands of the market. The company’s strength lies in the core business of production and processing of chemicals. The research and development department of the company upgrades the products according to the customer’s demand time-to-time which makes it look more attractive.
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Central and Eastern Europe, including Russia, Poland, and other countries in the region, are experiencing notable growth in the pipe insulation market. This growth is primarily driven by Russia’s substantial oil production and rising demand for district heating systems. The European Energy Performance of Buildings Directive (EPBD) (2002/91/EEC) plays a key role in supporting the expansion of rockwool, a significant component in pipe insulation, across the EU.
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