Industry Background:
The pipes industry will be driven by industrial, construction and agriculture sectors. In the last few years, these mentioned sectors witnessed exponential growth globally. Pipe insulation is the process of covering pipes with flexible films, foam wraps, any other rigid insulation products or some coatings to safeguard the pipes from water, moisture, heat, corrosion, chemical interactions, breakage or damages during shipping and many others. Over the last decade, the global pipe insulation services have witnessed robust technological and economic developments and improvements which will ultimately generate significant demand for pipe insulation over the forecasted period.
According to AMA, the market for Pipe Insulation is expected to register a CAGR of 3.4% during the forecast period to 2026. This growth is primarily driven by Safety Parameters & Increasing Government Initiatives in Pipeline based Application and Growth of Pipe Insulation Market due to Growing Demand from Oil and Gas Industry.
Globally, a noticeable market trend is evident Increasing Applications of IoT Integrated Automatically Operated Valves for Gas Pipeline
. The Electrical Components & Equipment sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Rockwool International A/S (Denmark), Owens Corning (United States), Saint-Gobain (France),, Johns Manville (United States), Knauf Insulation (United States), Kingspan Group (Republic of Ireland), Illinois Tool Works (ITW) (United States), Armacell International S.A. (Germany), L'Isolante K-Flex S.p.A. (Albania) and Rockwool (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On October 5th, 2018, Rockwool International A/S has signed an agreement with the United Kingdom government to ban combustible materials from new high-rise residential buildings as well as hospitals, residential care premises and student accommodation above 18 meters.
The 2012 International Energy Conservation Code (IECC) requires any piping associated with heating or cooling that carries fluids with an operating temperature of 55 °F and lower or 105 °F and higher to be insulated to a minimum of R-3. Any insulated piping in areas exposed to weather, such as refrigerant piping associated with a split system air conditioner, is required to be further protected from exposure to sunlight, moisture, and wind—all of which can damage the insulation materials over time. This protection must shield the insulation from solar radiation. Moreover, in 2012 IECC has prohibited the use of adhesive tapes as shielding.
Market Drivers
- Safety Parameters & Increasing Government Initiatives in Pipeline based Application
- Growth of Pipe Insulation Market due to Growing Demand from Oil and Gas Industry
Market Trend
- Increasing Applications of IoT Integrated Automatically Operated Valves for Gas Pipeline
- Growing Demand for Natural Gas Liquid (NGL) Pipelining Inspections
Restraints
- Lack of Favorable Exploration Zones for Pipeline Inspection and Insulation
- Complex Pipeline Insulation Techniques for Oil and Gas Pipelines
Opportunities
Emphasizing On Various Untapped Reservoirs across the Sphere and Number of Leading Players are trying to Expand Their Businesses to new Geographical areas
Challenges
Ideal Pipeline Scenarios can be Observed while Pipeline Maintenance and High Initial Cost Associated with Gas Pipeline Infrastructure Management
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Pipe Insulation Study Sheds Light on
The Pipe Insulation Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Pipe Insulation industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pipe Insulation industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.