Pipe Insulation Market Size, Share & Trends Report

Pipe Insulation Market Size, Share & Trends Analysis Report By Material (Cellular Glass, Elastomeric Foam), By Application (Industrial, Building & Construction), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-654-7
  • Number of Pages: 143
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the pipe insulation market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for pipe insulation market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of pipe insulation market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Pipe Insulation Market Categorization:

The pipe insulation market was categorized into three segments, namely material (Cellular glass, Polyurethane & Polyisocyanurate Foam, Fiberglass, Elastomeric Foam), application (Industrial, Building & Construction, District Energy System), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The pipe insulation market was segmented into material, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The pipe insulation market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirteen countries, namely, the U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; Brazil; Argentina.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Pipe insulation market companies & financials:

The pipe insulation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Armacell: Armacell was established in 2000 with its headquarters in Munster, Germany. It manufactures flexible elastomeric foams for providing equipment insulation. The company operates through two business segments, namely engineered foams, and advanced insulation. Advanced insulation business segment offers foam insulation solutions for energy transportation. Application areas of the products offered in this segment include heating, ventilation, and air conditioning (HVAC), refrigeration, heating, and plumbing (H&P), energy, industrial, acoustic, and residential infrastructure. The engineered foams segment produces customized lightweight and high-performance foams, which are used across a range of industries including transportation, infrastructure, energy, leisure, and sports.

  • Lydall, Inc.: Lydall, Inc. was established in 1879 and is headquartered in Manchester, U.S. The company manufactures and designs industrial thermal insulating solutions, specialty-engineered filtration media, automotive, thermal, and acoustical barriers for various applications. Its manufacturing operations for the thermal, acoustic, and filtration markets are spread worldwide. The company operates through technical nonwoven, performance material, and thermal acoustical solution segments. The performance material segment offers filtration media solutions for multiple applications such as power generation, HVAC, respiratory protection, and various industrial processes.

  • Kingspan Group: Kingspan Group was established in 1966 and is based in Kingscourt, Ireland. The company is engaged in providing high-performance building envelope and insulation solutions The Group operates through its major five segments including Insulated Panels, Insulation Boards, light+Air, Water & Energy, and Data & Flooring Technology. The insulated Panels segment offers controlled environments, insulated panel systems, architectural roofing products, rooftop solar PV solutions, structural steel solutions, and door components. Insulation Boards segment provides rigid insulation products for building fabric and building services applications. The company provides multiple insulation solutions to residential as well as commercial sectors, such as insulation boards and panels, used in walls, roofs, terraces, and many other applications. EPS and XPS are major materials used by the company in providing insulation solutions to the industry.

  • Owens Corning: Owens Corning was founded in 1938 and is headquartered in Ohio, U.S. The company is engaged in the development, manufacturing, and marketing of building materials and composite systems. It offers a broad range of quality products, including glass fibers, which are used to reinforce composite materials in transportation, marine, electronics, infrastructure, wind energy, insulation, and roofing for residential, commercial, and industrial applications. The company’s product portfolio for residential channels, includes thermal and acoustical batts, foam sheathing, loose-fill insulation, and other accessories, that are sold under the brand name Owens Corning PINK Fiberglass Insulation. In addition, its commercial and industrial channels include insulation products under the brand names Thermafiber, FOAMGLASS, and Paroc, which provide energy-efficient insulation, mineral wool, insulation, cellular glass insulation, and other foam insulation.

  • Huntsman International LLC: Huntsman International LLC is an American multinational chemical manufacturing company established in 1970 and is headquartered in Utah, U.S. It is engaged in the manufacturing of commodity and specialty chemicals while also producing electrical insulating materials. The company operates through its four major divisions including polyurethanes, performance products, advanced materials, and textile effects. The performance products segment offers ethylamine, specialty amines, and technology licenses. The advanced materials segment offers engineering products for a wide variety of industrial and consumer applications and is serving more than 2,000 consumers in over 30 countries for complete chemistry solutions. These are curing agents that are supplied in liquid or solid form and added with epoxy resins, such as “Araldite’, to get a broad range of thermal insulation, electrical, and mechanical properties. These products find applications in building & construction, paint & coatings, electronics & electrical engineering, composites, and adhesives.

  • Saint-Gobain Group: Saint-Gobain Group was established in 1665 and is headquartered in Courbevoie, France. The company designs and manufactures materials as well as solutions which are key ingredients in the well-being of day-to-day life essentials. It provides a diversified product portfolio in multiple industries. The group’s end markets cover new residential construction, new non-residential construction, renovation, civil engineering & infrastructure, mobility, and other industries. The contribution of these end markets to overall sales of Saint-Gobain Group is 21%, 12%, 45%, 7%, 7%, and 8%, respectively. The company markets its insulation products under the brand name Isover. This brand offers a diversified product range of insulation solutions for various sectors including HVAC, building & construction, building isolation, and industry isolation.

  • Rockwool Insulation A/S: Rockwool Insulation A/S, established in 1909, started manufacturing insulation products in 1937. It is headquartered in Hedehusene, Denmark. The group has a significant presence in Europe, specifically in Russia, and is rapidly expanding its footprint in North America and Asia. The company is engaged in providing insulation solutions for a wide range of industries. It manufactures and sells stone wool building insulation systems which is a key component in fire resilient residential and commercial buildings. The group comprises companies, namely Rockwool Building Insulation, Rockfon Acoustic Ceiling & Wall Solutions, Rockpanel Exterior Cladding, Rockwool Technical Insulation, Rockwool Core Insulation, Grodan Substrate Solutions, Lapinus and Rockdelta. Rockwell Technical Insulation provides advanced technical insulation solutions for marine & offshore and process industries.

  • Johns Manville: Johns Manville was established in 1935 and is headquartered in Colorado, U.S. The company is engaged in the manufacturing and marketing superior quality products of building insulation, mechanical insulation, roof insulation, commercial roofing, and fibers and nonwovens for residential, commercial, and industrial applications. The company serves several markets including commercial/residential construction, aerospace, automotive/transportation appliances, filtration, building, flooring, HVAC, pipe and equipment, waterproofing, interiors, and wind energy. It operates 45 manufacturing facilities located in the U.S., Canada, Germany, Slovakia, and China, with a workforce of over 8,000 employees, and markets its products in more than 85 countries as of 2020.

  • Knauf Insulation: Knauf Insulation was established in 1978 with the purchase of an existing plant in Indiana, U.S., and is headquartered in Belgium, Europe. The company changed its name to Knauf Insulation in 2002. Knauf Insulation operates as a subsidiary of Gebr. Knauf KG is engaged in the production and distribution of building & construction materials for customers in Africa, Asia, the Russian Federation, South America, North America, and European countries. The company operates in more than 40 countries across the globe with 27 production facilities in 15 different countries. The insulation product portfolio offered by the company includes wood wool, blowing wool, rock mineral wool, and glass mineral wool. The company provides pipe insulation solutions to commercial, residential, and industrial sectors in a wide range of sizes and designs. Moreover, Knauf Insulation offers services to buildings, original equipment manufacturers, technical applications, and green solutions.

  • BASF SE: BASF SE was established in 1865 and is headquartered in Mannheim, Germany. The company is engaged in the manufacturing and distribution of chemicals and related products throughout the world. BASF SE operates its business through six segments including industrial solutions, chemicals, agricultural solutions, materials, surface technologies, and nutrition & care. The industrial segment offers products and ingredients for applications such as admixtures, pigments, polymer dispersions, and resins. The chemicals segment offers petrochemicals and its intermediates while the materials business segment provides advanced materials such as polyamides and antioxidants, among others. The surface technologies segment manufactures coatings, catalysts, and battery materials for chemical and automotive industries. BASF provides various solutions for pipe insulation applications. Pipe insulation systems offered by the company are formulated using both flexible and rigid piping. The company offers various materials used in insulation solutions for piping applications such as SPF, EPS, and many such materials. BASF thermal insulation products are designed to reduce CO2 emissions and make buildings more energy efficient.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Pipe Insulation Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2022, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Pipe Insulation Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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