Industrial Pipe Insulation Materials Market

Industrial Pipe Insulation Materials Market: High Performance at Low Cost Continues to Enable Polyurethane & Polystyrene Reign Supreme: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

Polyurethane insulation’s superior performance to create a significant opportunity for companies

The global industrial pipe insulation material market comprises materials like glass wool, mineral wool, cellular glass, polystyrene and many more. The market is highly dominated by polyurethane and polystyrene materials. Both in terms of market share and growth rate polyurethane and polystyrene is expected to continue leading in the years coming ahead.

According to the market forecast, polyurethane is projected to lead with a market value of over US$ 680 Mn by the end of 2028, whereas polystyrene is expected to stay in close competition with polyurethane. Polystyrene is extremely suitable for cryogenic, cold/chilled as well as hot applications. Its spray insulation also produces seamless insulation, reducing energy loss, air leakage, and provides acoustic insulation. Along with this, polyurethane insulation also provides several other benefits such as fire resistivity, improved process efficiency and cost competitiveness which will further improve its acceptance in the global market.

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Mineral wool and fiberglass to witness rise in adoption

Fiberglass insulation has been the primary choice of end users since decades. As a result, it is marked as one highly prevalent material type in the global market. Alongside, mineral wool is also gaining popularity in the global market. The mineral wool products are anticipated to hold high market share as it gains popularity especially in North America, China, India and Other parts of APAC. This is due to the fire safety concerns, which keeps rising with the rapid industrialization. The research also suggests that mineral wool is considered to as an eco-friendly product, and so it is expected to be one highly lucrative market as the environmental concerns rises.

One of the factors that has helped the growth in demand for various insulation materials is the replacement of existing HVAC equipment in the many countries. In developing countries, growing urbanization is driving the demand for HVAC installations. The growth of the HVAC market, coupled with increasing awareness regarding energy.

Hazardous waste production to restrict market growth

Some of the insulation material waste is considered toxic, as it contains CFCs and formaldehyde. The two most common insulation materials containing CFCs are PUR (polyurethane) and XPS (extruded polystyrene), which are highly prevalent in the market. Polymeric insulation materials, such as polyurethanes and Polystyrene, are non-bio-degradable and may cause serious environmental problems, including air pollution and water pollution. Even the transport and destruction of CFC containing insulation components involves expenses, which is why the process does not takes place many times.

Some of the materials are not even recyclable, such as fiberglass. It requires special handling before disposal as most types of fiber insulation contains formaldehyde, an extremely toxic chemical, which may lead to environmental pollution. Moreover, the handling of fiberglass requires extra care as the tiny glass particles can cause health problems. These factors have come up as the major hurdles in the growth of industrial pipe insulation material market.

FMI utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any.  In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.

Data Collection

FMI collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.

Data Validation

In this phase, FMI validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.

Data Analysis and Projection

Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.

For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.

Market Segmentation

This comprehensive research report has cohesively segmented the global industrial pipe insulation materials market into segments on the basis of material type, product type, end-use and region. On the basis of material type, the global industrial pipe insulation materials market is segmented by fiberglass, mineral wool, cellular glass, polyurethane, polyester and others. On the basis of product type, the global industrial pipe insulation material market is segmented into prefabricated, rolls & butts, spray. On the basis of end use, industrial pipe insulation materials market is segmented into chemicals, food and beverages, oil & gas, power, metal manufacturing and other industrial. Key regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, India, China, Japan, SEAPAC and Middle East & Africa.

Material Type

By Product Type

By End Use

By Region

  • Fiberglass

  • Mineral Wool

  • Cellular Glass

  • Polyurethane

  • Polystyrene

  • Others

  • Prefabricated

  • Rolls & Batts Spray

  • Chemical

  • Food & Beverages

  • Oil & Gas

  • Power

  • Metal Manufacturing

  • Other Industrial

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • SEAPAC

  • MEA

  • China

  • Japan