Asia-Pacific Cold Pipe Insulation Market by Material Type (Fiberglass, Foam Glass, Elastomeric Foam, Polyurethane Foam, Polystyrene Foam, Polyethylene Foam, and Rubber, and Other Materials), by Temperature Range (up to -18°C, -19°C to -180°C, -181°C to -210°C, and Less Than -210°C), by Application (HVAC, Refrigeration, and Cryogenic), and by End-User Industry (Oil & Gas, Chemicals, Food Processing, Pharmaceuticals, and Others) – Global Opportunity Analysis and Industry Forecast, 2023–2030
The Asia-Pacific Cold Pipe Insulation Market size was valued at USD 2.23 billion in 2022, and is predicted to reach USD 4.10 billion by 2030, with a CAGR of 7.1% during the forecast period, 2023–2030.
The demand for cold pipe insulation in Asia-Pacific is increasing due to government initiatives that promote energy-efficient solutions. These initiatives are specifically designed to tackle increasing concerns about energy consumption and environmental sustainability. Governments are actively encouraging industries and individuals to prioritize insulation for cold pipes as a means to reduce energy waste and improve overall efficiency. Moreover, the rapid growth of urbanization and industrialization in this region has led to a significant rise in the demand for cold pipe insulation products
However, the growth of the cold pipe insulation market encounters certain constraints, primarily due to the considerable initial costs involved in implementing insulation systems. On the other hand, ongoing research and development efforts are focused on developing advanced insulation materials with improved thermal performance, durability, and cost-effectiveness. Innovations include aerogel-based insulation, vacuum insulation panels, and nano-insulation materials. These cutting-edge materials offer superior insulation properties while being lightweight and space-efficient. As these advanced insulation materials become more accessible and affordable, they will open new avenues for the cold pipe insulation industry.
Segment Overview
The Asia-Pacific cold pipe insulation market is segmented on the basis of material type, temperature range, application, and end-user industry.
By material type, the market is classified into fiberglass, foam glass, elastomeric foam, polyurethane foam, polystyrene foam, polyethylene foam, and rubber.
By temperature range, the market is segmented into up to -18°C, -19°C to -180°C, -181°C to -210°C, and less than -210°C.
By application, the market is categorized into HVAC, refrigeration, and cryogenic.
By end-user industry, the market is divided into oil & gas, chemicals, food processing, pharmaceuticals, and others.
By country, the is analyzed based on China, Japan, India, South Korea, Australia, Indonesia, Singapore, Taiwan, Thailand, Malaysia, Philippines, Vietnam, and the Rest of Asia-Pacific.
Regional Analysis
China holds a dominant share of the market
China holds the dominant share of the Asia-Pacific cold pipe insulation market, and is expected to continue its dominance throughout the forecast period. This is attributed to the factors, including government initiatives and the growth of various industries such as oil & gas, manufacturing, power generation, and chemicals in the country. The Chinese government is taking significant steps to boost its industrial capability and smart manufacturing in various industries. One of their notable initiatives, ""Made in China 2025,"" focuses on upgrading the manufacturing industry with advanced technologies such as artificial intelligence (AI), cloud computing, and the internet of things (IoT).
The adoption of these technologies is expected to bring improvements in efficiency and effectiveness across various industries. By enabling improved data analysis, monitoring, and automation capabilities, these technologies will help companies enhance their energy efficiency and reduce their carbon footprint. As a result, there will be a growing demand for energy-saving products, such as cold pipe insulation, as businesses strive to achieve these goals.
Moreover, the increasing number of nuclear power plants in China requires efficient and safe insulation solutions to maintain the proper functioning of the plants. Cold pipe insulation is a crucial component in these facilities as it helps maintain the temperature and reduce energy loss while transporting fluids and gases. This, in turn, propels the market growth. According to Foro Nuclear, a non-profit organization dedicated to promoting the peaceful use of nuclear energy, China is now the world's largest manufacturer of nuclear reactors. With 53 operational units and 16 more currently under construction, the country's expanding nuclear industry creates a growing demand for cold pipe insulation.
Key Market Players
The key players operating in the Asia-Pacific cold pipe insulation industry include companies such as:
• Nichias Corporation
• DuPont
• BASF SE
• Covestro AG
• 3M
• L'Isolante K-Flex S.p.A.
• Daikin Industries Ltd.
• Supreme Industries Limited
• Owens Corning
• Armacell International S.A.
• Insulflex Corporation Sdn Bhd
• Ematco Industrial Pte. Ltd.
• Superlon Holdings
• Insafoam
• Dongsung Chemical Co. Ltd.
Recent Developments
February 2023
Saint Gobain acquired U.P. Twiga Fiberglass Ltd, a glasswool insulation manufacturer in India. The acquisition enables the company to expand its range of insulation solutions, including cold pipe insulation, to meet the growing demand in the Asian market. This strategic acquisition serves as a catalyst for the growth of the cold pipe insulation industry in the Asian region.
February 2023
Supreme Industries Limited recently inaugurated its 28th manufacturing plant in Odisha, India. This new facility will primarily focus on the production of piping products and tanks. The expansion of Supreme Industries into Odisha strengthens its market presence and extends its operations to 12 states across India. With its new manufacturing plant, the company is well-positioned to contribute to the overall development and expansion of the cold pipe insulation market in India.
July 2022
Armacell acquired Izolir, a Croatian pre-insulated pipe manufacturer. This strategic acquisition will allow Armacell to broaden its range of offerings and strengthen its expertise specifically in the pre-insulated cold pipe segment. With this expansion of its product portfolio and enhanced capabilities, Armacell is well-positioned to cater to the increasing demand for cold pipe insulation solutions.
July 2022
Covestro initiated the construction of two new production facilities in Shanghai, reinforcing its presence in the region. With a focus on innovation and sustainability, these facilities will enable Covestro to meet the growing demand for high-quality materials in industries, such as automotive, construction, and electronics.
March 2022
Armacell expanded its presence in Southeast Asia with the opening of a new office in Singapore. The new office will serve as a hub for Armacell's operations in the region, allowing the company to serve its customers better in Singapore, Indonesia, Malaysia, and Thailand. This expansion is expected to create new opportunities for Armacell in the cold pipe insulation market in Southeast Asia.
Key Benefits
• The Asia-Pacific cold pipe insulation market report provides quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the Asia-Pacific cold pipe insulation market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the Asia-Pacific cold pipe insulation market is provided in the report.
• The competitive analysis of the market players along with their market share in the Asia-Pacific cold pipe insulation market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.
- 1. Introduction
- 1.1. Report Description
- 1.2. Who Should Read This Report
- 1.3. Key Market Segments
- 1.4. Research Methodology
- 1.4.1 Secondary Research
- 1.4.2 Data Analysis Framework
- 1.4.3 Market Size Estimation
- 1.4.4 Forecasting
- 1.4.5 Primary Research And Data Validation
- 2. Cold Pipe Insulation Market – Executive Summary
- 2.1. Market Snapshot, 2022 - 2030, Million Usd
- 3. Market Overview
- 3.1. Market Definition And Scope
- 3.2. Market Dynamics
- 3.2.1 Drivers
- 3.2.1.1. Government Initiatives For Energy-efficient Solutions
- 3.2.1.2. The Growing Impact Of Urbanization & Industrialization
- 3.2.1.3. Rising Demand For Insulation In The Oil & Gas Industry
- 3.2.2 Restraints
- 3.2.2.1. The High Initial Cost Associated With The Installation Of An Insulation System
- 3.2.3 Opportunities
- 3.2.3.1. Emerging Technologies To Accelerate The Adoption Of Cold Pipe Insulation
- 3.3. Value Chain Analysis
- 3.4. Pattern Landscape
- 3.5. Pricing Analysis
- 3.6. Key Regulation Analysis
- 4. Market Share Analysis
- 4.1. Market Share Analysis Of Top Cold Pipe Insulatoin Providers, 2022
- 5. Asia-pacific Cold Pipe Insulation Market, By Material Type
- 5.1. Overview
- 5.2. Fiber Glass
- 5.2.1 Asia-pacific Fiber Glass, By Country
- 5.3. Foam Glass
- 5.3.1 Asia-pacific Foam Glass, By Country
- 5.4. Elastomeric Foam
- 5.4.1 Asia-pacific Elastomeric Foam, By Country
- 5.5. Polyurethane Foam
- 5.5.1 Asia-pacific Polyurethane Foam, By Country
- 5.6. Polystyrene Foam
- 5.6.1 Asia-pacific Polystyrene Foam, By Country
- 5.7. Polyethylene Foam
- 5.7.1 Asia-pacific Polyethylene Foam, By Country
- 5.8. Rubber
- 5.8.1 Asia-pacific Rubber, By Country
- 5.9. Others
- 5.9.1 Asia-pacific Others, By Country
- 6. Asia-pacific Cold Pipe Insulation Market, By Temperature Range
- 6.1. Overview
- 6.2. Upto -18c
- 6.2.1 Asia-pacific Upto -18c, By Country
- 6.3. -19c To -180c
- 6.3.1 Asia-pacific -19c To -180c, By Country
- 6.4. -181c To -210c
- 6.4.1 Asia-pacific -181c To -210c, By Country
- 6.5. Less Than -210c
- 6.5.1 Asia-pacific Less Than -210c, By Country
- 7. Asia-pacific Cold Pipe Insulation Market, By Application
- 7.1. Overview
- 7.2. Hvac
- 7.2.1 Asia-pacific Hvac, By Country
- 7.3. Refrigeration
- 7.3.1 Asia-pacific Refrigeration, By Country
- 7.4. Cryogenic
- 7.4.1 Asia-pacific Cryogenic, By Country
- 8. Asia-pacific Cold Pipe Insulation Market, By End User Industry
- 8.1. Overview
- 8.2. Oil And Gas
- 8.2.1 Asia-pacific Oil And Gas, By Country
- 8.3. Chemicals
- 8.3.1 Asia-pacific Chemicals, By Country
- 8.4. Food Processing
- 8.4.1 Asia-pacific Food Processing, By Country
- 8.5. Pharmaceuticals
- 8.5.1 Asia-pacific Pharmaceuticals, By Country
- 8.6. Others
- 8.6.1 Asia-pacific Others, By Country
- 9. Asia-pacific Cold Pipe Insulation Market, By Country
- 9.1. Overview
- 9.2. China
- 9.2.1 China Cold Pipe Insulation Market, By Material Type
- 9.2.2 China Cold Pipe Insulation Market, By Temperature Range
- 9.2.3 China Cold Pipe Insulation Market, By Application
- 9.2.4 China Cold Pipe Insulation Market, By End User Industry
- 9.3. Japan
- 9.3.1 Japan Cold Pipe Insulation Market, By Material Type
- 9.3.2 Japan Cold Pipe Insulation Market, By Temperature Range
- 9.3.3 Japan Cold Pipe Insulation Market, By Application
- 9.3.4 Japan Cold Pipe Insulation Market, By End User Industry
- 9.4. India
- 9.4.1 India Cold Pipe Insulation Market, By Material Type
- 9.4.2 India Cold Pipe Insulation Market, By Temperature Range
- 9.4.3 India Cold Pipe Insulation Market, By Application
- 9.4.4 India Cold Pipe Insulation Market, By End User Industry
- 9.5. South Korea
- 9.5.1 South Korea Cold Pipe Insulation Market, By Material Type
- 9.5.2 South Korea Cold Pipe Insulation Market, By Temperature Range
- 9.5.3 South Korea Cold Pipe Insulation Market, By Application
- 9.5.4 South Korea Cold Pipe Insulation Market, By End User Industry
- 9.6. Australia
- 9.6.1 Australia Cold Pipe Insulation Market, By Material Type
- 9.6.2 Australia Cold Pipe Insulation Market, By Temperature Range
- 9.6.3 Australia Cold Pipe Insulation Market, By Application
- 9.6.4 Australia Cold Pipe Insulation Market, By End User Industry
- 9.7. Indonesia
- 9.7.1 Indonesia Cold Pipe Insulation Market, By Material Type
- 9.7.2 Indonesia Cold Pipe Insulation Market, By Temperature Range
- 9.7.3 Indonesia Cold Pipe Insulation Market, By Application
- 9.7.4 Indonesia Cold Pipe Insulation Market, By End User Industry
- 9.8. Singapore
- 9.8.1 Singapore Cold Pipe Insulation Market, By Material Type
- 9.8.2 Singapore Cold Pipe Insulation Market, By Temperature Range
- 9.8.3 Singapore Cold Pipe Insulation Market, By Application
- 9.8.4 Singapore Cold Pipe Insulation Market, By End User Industry
- 9.9. Taiwan
- 9.9.1 Taiwan Cold Pipe Insulation Market, By Material Type
- 9.9.2 Taiwan Cold Pipe Insulation Market, By Temperature Range
- 9.9.3 Taiwan Cold Pipe Insulation Market, By Application
- 9.9.4 Taiwan Cold Pipe Insulation Market, By End User Industry
- 9.10. Thailand
- 9.10.1 Thailand Cold Pipe Insulation Market, By Material Type
- 9.10.2 Thailand Cold Pipe Insulation Market, By Temperature Range
- 9.10.3 Thailand Cold Pipe Insulation Market, By Application
- 9.10.4 Thailand Cold Pipe Insulation Market, By End User Industry
- 9.11. Malaysia
- 9.11.1 Malaysia Cold Pipe Insulation Market, By Material Type
- 9.11.2 Malaysia Cold Pipe Insulation Market, By Temperature Range
- 9.11.3 Malaysia Cold Pipe Insulation Market, By Application
- 9.11.4 Malaysia Cold Pipe Insulation Market, By End User Industry
- 9.12. Philippines
- 9.12.1 Philippines Cold Pipe Insulation Market, By Material Type
- 9.12.2 Philippines Cold Pipe Insulation Market, By Temperature Range
- 9.12.3 Philippines Cold Pipe Insulation Market, By Application
- 9.12.4 Philippines Cold Pipe Insulation Market, By End User Industry
- 9.13. Vietnam
- 9.13.1 Vietnam Cold Pipe Insulation Market, By Material Type
- 9.13.2 Vietnam Cold Pipe Insulation Market, By Temperature Range
- 9.13.3 Vietnam Cold Pipe Insulation Market, By Application
- 9.13.4 Vietnam Cold Pipe Insulation Market, By End User Industry
- 9.14. Rest Of Asia-pacific
- 9.14.1 Rest Of Asia-pacific Cold Pipe Insulation Market, By Material Type
- 9.14.2 Rest Of Asia-pacific Cold Pipe Insulation Market, By Temperature Range
- 9.14.3 Rest Of Asia-pacific Cold Pipe Insulation Market, By Application
- 9.14.4 Rest Of Asia-pacific Cold Pipe Insulation Market, By End User Industry
- 10. Company Profiles
- 10.1. Dongsung Chemical Co Ltd
- 10.1.1 Company Overview
- 10.1.2 Company Snapshot
- 10.1.3 Product Portfolio
- 10.1.4 Business Performance
- 10.1.5 Key Strategic Moves & Developments
- 10.1.6 Primary Market Competitors
- 10.2. Insafoam Insulation (Malaysia) Sdn Bhd.
- 10.2.1 Company Overview
- 10.2.2 Company Snapshot
- 10.2.3 Product Portfolio
- 10.2.4 Key Strategic Moves & Developments
- 10.2.5 Primary Market Competitors
- 10.3. Superlon Holdings Berhad
- 10.3.1 Company Overview
- 10.3.2 Operating Business Segments
- 10.3.3 Operating Business Segments
- 10.3.4 Product Portfolio
- 10.3.5 Business Performance
- 10.3.6 Sales By Business Segment
- 10.3.7 Sales By Geographic Segment
- 10.3.8 Key Strategic Moves & Developments
- 10.3.9 Primary Market Competitors
- 10.4. Ematco Industrial Pte Ltd.
- 10.4.1 Company Overview
- 10.4.2 Company Snapshot
- 10.4.3 Product Portfolio
- 10.4.4 Key Strategic Moves & Developments
- 10.4.5 Primary Market Competitors
- 10.5. Insulflex Corporation Sdn Bhd
- 10.5.1 Company Overview
- 10.5.2 Company Snapshot
- 10.5.3 Product Portfolio
- 10.5.4 Key Strategic Moves & Developments
- 10.5.5 Primary Market Competitors
- 10.6. Armacell International S.A.
- 10.6.1 Company Overview
- 10.6.2 Company Snapshot
- 10.6.3 Product Portfolio
- 10.6.4 Key Strategic Moves & Developments
- 10.6.5 Primary Market Competitors
- 10.7. Owens Corning
- 10.7.1 Company Overview
- 10.7.2 Company Snapshot
- 10.7.3 Operating Business Segments
- 10.7.4 Product Portfolio
- 10.7.5 Business Performance
- 10.7.6 Sales By Business Segment
- 10.7.7 Sales By Geographic Segment
- 10.7.8 Key Strategic Moves & Developments
- 10.7.9 Primary Market Competitors
- 10.8. Supreme Industries Limited
- 10.8.1 Company Overview
- 10.8.2 Company Snapshot
- 10.8.3 Operating Business Segments
- 10.8.4 Product Portfolio
- 10.8.5 Business Performance
- 10.8.6 Sales By Business Segment
- 10.8.7 Key Strategic Moves & Developments
- 10.8.8 Primary Market Competitors
- 10.9. Basf Se
- 10.9.1 Company Overview
- 10.9.2 Company Snapshot
- 10.9.3 Operating Business Segments
- 10.9.4 Product Portfolio
- 10.9.5 Business Performance
- 10.9.6 Sales By Business Segment
- 10.9.7 Sales By Geographic Segment
- 10.9.8 Key Strategic Moves & Developments
- 10.9.9 Primary Market Competitors
- 10.10. Nichias Corporation
- 10.10.1 Company Overview
- 10.10.2 Company Snapshot
- 10.10.3 Operating Business Segments
- 10.10.4 Product Portfolio
- 10.10.5 Business Performance
- 10.10.6 Sales By Business Segment
- 10.10.7 Sales By Geographic Segment
- 10.10.8 Key Strategic Moves & Developments
- 10.10.9 Primary Market Competitors
- 10.11. Dupont
- 10.11.1 Company Overview
- 10.11.2 Company Snapshot
- 10.11.3 Operating Business Segments
- 10.11.4 Product Portfolio
- 10.11.5 Business Performance
- 10.11.6 Sales By Business Segment
- 10.11.7 Sales By Geographic Segment
- 10.11.8 Key Strategic Moves & Developments
- 10.11.9 Primary Market Competitors
- 10.12. Covestro Ag
- 10.12.1 Company Overview
- 10.12.2 Company Snapshot
- 10.12.3 Operating Business Segments
- 10.12.4 Product Portfolio
- 10.12.5 Business Performance
- 10.12.6 Sales By Business Segment
- 10.12.7 Sales By Geographic Segment
- 10.12.8 Key Strategic Moves & Developments
- 10.12.9 Primary Market Competitors
- 10.13.M Company
- 10.13.1 Company Overview
- 10.13.2 Company Snapshot
- 10.13.3 Operating Business Segments
- 10.13.4 Product Portfolio
- 10.13.5 Business Performance
- 10.13.6 Sales By Geographic Segment
- 10.13.7 Sales By Geographic Segment
- 10.13.8 Key Strategic Moves & Developments
- 10.13.9 Primary Market Competitors
- 10.14. L’isolante K-flex S.P.A.
- 10.14.1 Company Overview
- 10.14.2 Company Snapshot
- 10.14.3 Product Portfolio
- 10.14.4 Key Strategic Moves & Developments
- 10.14.5 Primary Market Competitors
- 10.15. Daikin Industries Ltd
- 10.15.1 Company Overview
- 10.15.2 Company Snapshot
- 10.15.3 Operating Business Segments
- 10.15.4 Product Portfolio
- 10.15.5 Business Performance
- 10.15.6 Sales By Business Segment
- 10.15.7 Sales By Geographic Segment
- 10.15.8 Key Strategic Moves & Developments
- 10.15.9 Primary Market Competitors
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