Global Pipe Insulation Market was valued at USD 8.5 billion in 2019 which is expected to reach USD 13.3 billion by 2027 at a CAGR 4.2%.
Pipe insulation is a protective covering to pipes and it is used to limit heat gain or loss from surfaces operating at temperatures below or above the surrounding temperature. Insulation is a process of insulating pipes with a combination of materials which provides protection to pipes. It also prevents heat loss and heat gain from pipe surface and help them maintain temperature.
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Rise in demand for insulation across various industries to enhance the efficiency of the industrial processes operating at extreme temperatures is the key driving factor which is expected to drive the global pipe insulation market growth. Insulation helps in reduce heat loss, cut down CO2 emissions, and improving energy efficiency. In addition to that, it provides frost protection to pipelines at a low temperature which increase the demand for pipe insulation across various sectors like oil & gas, industrial, residential, and electric power will have the positive impact on global pipe insulation market growth.
However, fluctuations in raw material prices are the major challenging factor which expected to hamper the global pipe insulation market growth.
Global Pipe Insulation Market is segmented into material such as Elastomeric Foam, Fiberglass, Polyurethane & Polyisocyanurate Foam, Cellular Glass, and Others. Further, Global Pipe Insulation Market is segmented into application such as Industrial, District Energy System, and Building & Construction.
Also, Global Pipe Insulation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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• Elastomeric Foam
• Polyurethane & Polyisocyanurate Foam
• Cellular Glass
• District Energy System
• Building & Construction.
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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