Pre-Insulated Pipe Market Trends, New Business Opportunity & Demand Analysis during Forecast 2023 to 2033
According to FMI's analysis, the pre-insulated pipe market will grow at a CAGR of 5.7% during the forecast period. The industry's value is expected to rise from US$ 6.1 billion in 2023 to US$ 10.6 billion by the end of 2033.
The market for pre-insulated pipes is expanding as governments around the world encourage the use of energy-efficient products. The government is taking steps such as offering incentives and tax breaks to encourage the use of such products. Furthermore, the growth of the district heating and cooling industry is driving the adoption of pre-insulated pipes.
The market's new product releases have a positive impact on pre-insulated pipe sales. Twin type pre-insulated pipes have recently been steadily capturing market share as end users shift towards obtaining them. Manufacturers are introducing new pre-insulated pipes that reduce labour costs and are simple to install.
Pre-insulated pipes are in high demand in the chemical, oil, food, and petrochemical industries. These are primarily used to transport hydrocarbons, hot water, steam, chemicals, and other similar materials. Pre-insulated pipes installed in end-use industries help to smooth the production process and promote long-term cost-efficiency.
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Key Takeaways from the Pre-Insulated Pipe Industry:
The United States pre-insulated pipe market is predicted to maintain its clasp over the top position of the market. Expanding at the CAGR of 4.9%, the market is predicted to attain US$ 1.4 Billion by 2033, as per recent market estimates by FMI. Japan is predicted to emerge as the fastest growing nation in the pre-insulated pipe domain. The country is set to grow at a CAGR of 6.7% in the next 10 years. By the end of 2033, the total revenue generated by Japan alone would be US$ 755.6 Million. Growing preference for metal and alloy based pre-insulated pipes is predicted to aid the market expansion. The metal and alloy segment is predicted to garner significant market share, striving at a CAGR of 4.6% between 2023-2033. The surging demand for single pipes by end use industries is projected to propel market growth. The CAGR of single pipe segment is set to rise from 2.9% in historical period to 4.4% over the forecast period.
New Developments Fuelling Pre-Insulated Pipe Market Expansion:
In May 2022, Huntsman, in association with BRUGG Pipes, has innovated a next-gen polyurethane foam system having outstanding insulation properties that can be utilized to develop thermally efficient, extremely flexible, pre-insulated pipes for linking local heating units and ground source heat pumps to commercial and domestic buildings. The new innovation is predicted to cater to the growing demand for heat pumps. In 2021, Armacell introduced two upgraded versions of its pre-insulated seamless copper pipes, DuoSplit and Tubolit Split. Since they are easy to install, flexible, and robust, these products deliver benefits to installers and end users alike. The newly launched durable and environment-friendly products are enjoying wider spectrum of applications.
Some of the leading companies operating in the pre-insulated pipe market are
Georg Fischer AG Uponor Corporation Watts Water Technologies LOGSTOR A/S Brugg Group Ag Polypipe Group PLC Vital Energi Utilities Limited
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Pre-Insulated Pipe Market By Segment
By Material Type:
Metal & Alloys Polymers
By Pipe Configuration:
Single Pipe Twin Pipe
By Installation:
Below Ground Above Ground
By End User:
District Heating and Cooling Oil & Gas Chemical Pharmaceutical Others
By Region:
North America Latin America Europe South Asia & Pacific East Asia Middle East & Africa