Demand for pipeline thermal insulation materials continues to be on an upswing, as a range of macroeconomic and industry-specific factors turn the tide in the favor of manufacturers. The Government of India’s much-touted ‘Make in India’ initiative, combined with growing injection of capital into infrastructure development activities is also likely to create sustained growth opportunities for pipeline thermal insulation material manufacturers. The overall outlook on the India pipeline thermal insulation materials market remains bullish, and stakeholders can expect momentum to sustain throughout the period of forecast.
Requirement for pipeline thermal insulation materials in West India is likely to increase at a rapid pace underpinned by increasing infrastructure activities in major cities, reveals Fact.MR’s latest study. The report envisages that demand for pipeline thermal insulation materials in India is projected to expand to a meteoric 7.9% CAGR in terms of value during the period of forecast, 2018-2026.
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According to the report, there has been a significant investment in the Government of India, which is expected to increase by about 1.8 times more in 2018 as compared to last year. A US $ 1 trillion investment for development of infrastructure is in the offing which is currently in demand for pipeline thermal insulation materials in India across a cohort of industries in the coming years.
India has become striving for attracting more FDI (Foreign Direct Investment) for facilitating industrial growth. Furthermore, increasing energy costs in a way that makes it easier to save energy. Celsius to 500 degree Celsius. Adoption of pipeline thermal insulation materials in various industries including pharmaceuticals, chemicals, food and beverages, power plant and oil and gas.
Expansion of Indian industrial scenario has demanded minimization in energy consumption along with energy efficiency. In addition, being a lucrative manufacturing hub, India’s manufacturing sector has significantly contributed to the growth of India pipeline thermal insulation materials market. For instance, India’s IIP (Index of Industrial Production) increased by 7.5% in 2017 and is expected to continue growing in the years to follow.
The GVA (Gross Value Added) generated by India’s manufacturing sector thus has an increase of 4.3% during the 2012-2017 timeline. Under the NMP (National Manufacturing Policy), the Government of India aims to improve the share of GDP in the country by about 25% by end of 2022 materials is imperative.
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Expanding chemical and petrochemical sector of India has remained instrumental in driving the demand for pipeline thermal insulation materials. According to government reports, the chemical industry in India in 2017 witnessed an impressive 11 percent growth accounting for a significant percentage in India’s GDP. Against this backdrop, the sales of pipeline thermal insulation materials in the chemical industry are likely to touch US $ 33 Mn by end of 2026 with demand growing at a significant pace during the forecast period, reveals Fact.MR’s intelligence report. In addition, the power plant and oil and gas industries in the country also have picked up speed, providing impetus to the sales of pipeline thermal insulation materials.
Low thermal conductivity, low material cost and ease of installation are the key facets of rock mineral wool – an emerging insulation material. Against this backdrop, rock mineral wool is gaining high traction as an efficient pipeline thermal insulation material across oil and gas, chemicals & petrochemicals and power generation industries. So speeding up in terms of demand are the aerogels and microporous insulation materials. Properties of aerogels and microporous insulators search for low density, low optical index and low thermal conductivity, high compression resistance and long term durability for a wide temperature range. However, high cost associated with these pipelines thermal insulation materials as compared to other counterparts.
Albeit high costs associated with aerogels and microporous insulation, is there a potential problem with other pipeline thermal insulation materials? Write in to find out more on various pipeline thermal insulation materials and their scenario in the indian market.
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