China Pipe Insulation Market Size & Outlook, 2023-2030
China pipe insulation market, 2018-2030 (US$M)
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China pipe insulation market highlights
- The China pipe insulation market generated a revenue of USD 2,933.4 million in 2023 and is expected to reach USD 4,353.2 million by 2030.
- The China market is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- In terms of segment, building & construction was the largest revenue generating application in 2023.
- Industrial is the most lucrative application segment registering the fastest growth during the forecast period.
Pipe insulation market data book summary
| Market revenue in 2023 | USD 2,933.4 million |
| Market revenue in 2030 | USD 4,353.2 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Industrial |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & Construction, Industrial, Appliances |
| Key market players worldwide | Armstrong World Industries Inc, Kingspan Group PLC, Owens-Corning Inc, Huntsman Corp, Compagnie de Saint-Gobain SA, Rockwool AS Class B, Berkshire Hathaway Inc Class A, Basf SE, Covestro AG, Sekisui Chemical Co Ltd, Lydall, Knauf Insulation, NMC International, Gilsulate International, Inc. |
Other key industry trends
- In terms of revenue, China accounted for 16.1% of the global pipe insulation market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pipe insulation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 962.5 million by 2030.
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Pipe Insulation Market Scope
Pipe Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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China pipe insulation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pipe insulation market will help companies and investors design strategic landscapes.
Building & construction was the largest segment with a revenue share of 50.8% in 2023. Horizon Databook has segmented the China pipe insulation market based on building & construction, industrial, appliances covering the revenue growth of each sub-segment from 2018 to 2030.
China is one of the largest producers and consumers of thermal power in the world. Over 65% of the total electricity generated within the country comes from the burning of fossil fuels such as coal and natural gas. Thermal pipe insulation is widely utilized in thermal power generation industry to prevent heat loss while circulating hot water and steam within the power plant.
However, the rapid growth of renewable sources for wind, geothermal, and solar energy is expected to affect the demand for pipe insulation materials in the power generation sector. China has emerged as the global production hub in the field of chemical manufacturing. As of 2019, the country accounted for over 35% revenue of the global chemical industry.
Additionally, the country is the world’s largest importer of crude oil with around 860 million tons of refining capacity. Thus, the continued growth of chemical and petrochemical sector has led to rising demand for process pipes and pipe insulation products, and this trend is expected to continue in the future.
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Our clientele includes a mix of pipe insulation market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China pipe insulation market , including forecasts for subscribers. This country databook contains high-level insights into China pipe insulation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China pipe insulation market size, by application, 2018-2030 (US$M)
China Pipe Insulation Market Outlook Share, 2023 & 2030 (US$M)
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