The pre-insulated pipe market is predicted to grow at a CAGR of 5.7% over the forecast period, according to FMI's analysis. The industry's value is anticipated to increase from US$ 6.1 Billion in 2023 to US$ 10.6 Billion by 2033 end.
The market for pre-insulated pipes is propelling forward as governments across the globe are encouraging the use of energy-efficient products. The government is employing measures like initiating incentives and tax rebates for the adoption of such products. Additionally, the surge in the development of the district heating and cooling industry is fueling the uptake of pre-insulated pipes.
The sales of pre-insulated pipe are positively impacted by the new product releases in the market. Recently, the twin type pre-insulated pipes have been steadily capturing market share as end users are shifting towards obtaining them. Manufacturers are launching new pre-insulated pipes that minimize the wage cost and are easy to install.
The demand for pre-insulated pipes is increasing in the chemical oil, food, and petrochemical industries. These are mainly used to transfer hydrocarbons, hot water, steam, chemicals, and other such substances. Installation of pre-insulated pipes in end use industries help smoothen the production process and promote cost-efficiency over the long-term.
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 Fueling 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.
Pre-Insulated Pipe Market: Category-wise Insights
Which Material Accounts for the Highest Demand in Pre-insulated Pipe Production?
The demand for pre-insulated pipe raw materials used in the production of pre-insulated pipes varies as per the end-use industry. For instance, the oil & gas sector generates major demand for metals & alloy-based pipes. Metal pre-insulated pipes are expected to hold a major share of the global pre-insulated pipes market. Demand for metal pre-insulated pipes is expected to rise strongly in the forecast period.
Metal pre-insulated pipes, like pre-insulated copper pipes, are used to protect the piping from external environmental threats, offering increased safety precautions and advanced corrosion mitigation techniques. These unique properties are gaining considerable momentum with leading pre-insulated pipe market players constantly innovating pre-insulated pipe design, and developing and launching new products.
What are the Prospects of Single Pipe Configurations?
Pre-insulated pipes are available in both single-pipe and twin-pipe configurations. Of these, single-pipe configurations are expected to reflect relatively higher popularity owing to lower costs and easier installations, despite the better durability of twin-pipe alternatives. In addition, single pipe configurations are preferred as they enable improved heat transmission, which allows for higher versatility in application.
Which End-Use Sector Drives Demand for Pre-insulated Pipes?
The share of pre-insulated pipe applications in district heating and cooling end-use applications is relatively higher. The district heating and cooling sector accounts for close to 27% of the global share. This is followed closely by the oil & gas end-use sector which holds nearly a quarter of the global market.
Which Installation Type has Predominant Market Share?
Below-ground installations are major contributors to revenue, accounting for nearly 70% of the global pre-insulated pipe sector. Pre-insulated pipes in major underground projects are primarily used for the construction of heating and cooling systems in residential, commercial, and industrial applications. Revenue generation will remain specifically dependent upon the sales of pre-insulated pipes for district heating and cooling systems in the long term.
