[Latest] Global Europe Pipe Insulation Market Size & Share

July 05, 2023 10:38 ET | Source: Zion Market Research Zion Market Research

LONDON, UK, July 05, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Europe Pipe Insulation Market Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the demand of global Europe Pipe Insulation Market size & share was valued at approximately USD 3641 million in 2022. The market is expected to grow above a CAGR of 4.96% and is anticipated to reach over USD 5361 million by 2030. 40 Foot Fiberglass Telescoping Pole

The report analyses the Europe Pipe Insulation market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Europe Pipe Insulation market.

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Europe Pipe Insulation Market Overview:

Pipe insulation refers to the practice of applying some form of insulation around pipes to prevent energy loss and reduce heat transfer. During such processes, pipes are covered or wrapped with insulating materials that help in creating a barrier between the pipe surface and the exterior surrounding. There are several purposes served by pipe insulation including energy conservation, thermal insulation, noise reduction, freeze protection, and condensation control to name a few. The materials used during pipe insulation include products such as fiberglass, mineral wool, foam-based materials, and other specialized insulation products. The choice of insulation material depends on factors such as the desired thermal properties, application requirements, environmental conditions, and industry-specific regulations.

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The Europe pipe insulation market is projected to grow owing to the increasing number of renovation and retrofitting projects undertaken by regional government agencies and the private sector. Europe is home to some of the world’s most popular and architecturally-rich sites. It also has a significant number of residential and commercial buildings that require regular renovation or retrofitting to meet the changing energy efficiency targets laid down by the regulatory bodies. In such projects, an insulation pipe plays a crucial role since it helps in upgrading the insulation in existing piping systems. In 2021, the European building renovation market crossed the USD 950 billion mark.

Additionally, the growing construction industry further contributes to higher revenue in the Europe pipe insulation industry. New construction projects are proactively incorporating systems that improve the energy-efficiency index by working with well-insulated piping systems. Expansion of industrial infrastructure including manufacturing facilities and power plants is also contributing to higher demand for pipe insulation in Europe. Other factors such as strict building standards and codes that mandate the application of insulation in construction projects and growing advancements in insulation materials and manufacturing technologies could further drive revenue for manufacturers of insulation pipe.

The Europe pipe insulation market may face growth restrictions owing to the complex installation associated with pipe insulation. It requires skilled labor and expertise to ensure the proper installation of the insulated pipe. Additionally, factors such as avoiding gaps or compression and handling different types of insulation materials further add to the challenges faced by installers. The presence of limited standardized guidelines and specifications across Europe with diverse building codes, regulations, and standards among different countries creates confusion for manufacturers and distributors of insulated pipes in Europe.

The growing adoption of digitalization and smart insulation technologies could provide higher growth opportunities while environmental concerns over the use of certain types of insulation materials may challenge market growth.

The report contains qualitative and quantitative research on the global Europe Pipe Insulation Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.

Some of the main players in the global Europe Pipe Insulation market include;

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The Europe pipe insulation market is segmented based on material type, temperature, application, product type, and region.

Based on material type, the market is segmented into elastomeric foam, polyurethane, polystyrene, Rockwool, urea-formaldehyde, polyolefin, phenolic foam, fiberglass, glass wool, polyvinyl chloride, polycarbonate, and others.

Based on temperature, the Europe pipe insulation industry is divided into cold insulation and hot insulation. The highest growth was observed in the hot insulation segment in 2022 mainly due to the growing energy crisis in the region along with growing demand for power generation, chemical processing, and district heating. These activities require hot insulation to ensure minimal heat loss and improved energy efficiency while trying to comply with stringent regulations. The region's growing undertakings toward reducing greenhouse gas emissions could drive the demand for hot insulation. The counterpart segment has greater applications in activities related to refrigeration, cryogenic processes, and cold storage facilities. However, every European region may have specific requirements depending on regional temperature and other weather conditions. As directed by the European Union, the regional nations are required to achieve energy savings of 0.8% each year of final energy consumption between 2021 and 2030.

Based on application, the Europe pipe insulation industry is divided into electronics, oil & gas, automotive, food & beverage, transportation, energy & power, chemical industry, building & construction, and others.

Based on product type, the market segments are thin films, rigid insulation products, foils, stone wool insulation covers, coating material, and others. The most revenue-generating segment in 2022 was the rigid insulation products segment. There are several factors that drive segmental growth. For instance, rigid insulation products offer higher versatility along with a wider application range. They can be used in a variety of end-user verticals across industries. Moreover, they are suitable for both hot and cold insulation requirements. Rigid insulation also offers excellent thermal protection alongside low thermal conductivity and high insulation values. The structural strength and durability make them suitable for applications that are under extreme mechanical stress, pressure, and environmental conditions. A recent survey by Energy Vanguard concluded that nearly 71% of all domestic insulation activities across projects by 1600 builders were completed using fiberglass.

The Europe pipe insulation market is expected to register the highest growth in regions such as France, Germany, and the UK since these economies are considered the major contributors in terms of European economic growth. Additionally, Eastern European countries such as Poland, Russia, Czech Republic, and Hungary represent a lucrative segment for higher revenue owing to the region’s high investment toward oil and gas, chemical processing, and manufacturing industries along with rising infrastructure development projects. Nordic nations including Sweden, Norway, Denmark, Finland, and Iceland have laid higher emphasis on sustainability, energy efficiency, and renewable energy in recent times along with surging demand and development of district heating systems and building insulation.

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Browse Complete Report Here | Europe Pipe Insulation Market By Material Type (Elastomeric Foam, Polyurethane, Polystyrene, Rockwool, Urea-Formaldehyde, Polyolefin, Phenolic Foam, Fiberglass, Glasswool, Polyvinyl Chloride, Polycarbonate, And Others), By Temperature (Cold Insulation And Hot Insulation), By Application (Electronics, Oil & Gas, Automotive, Food & Beverage, Transportation, Energy & Power, Chemical Industry, Building & Construction, And Others), By Product Type (Thin Films, Rigid Insulation Products, Foils, Stone Wool Insulation Covers, Coating Material, And Others), And Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

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The global Europe Pipe Insulation market is segmented as follows:

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