U.S. Pipe Insulation Market is expected to grow with the CAGR of 5.4% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.
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U.S. pipe insulation market is a fragmented market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in the U.S. pipe insulation market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.
- In May 2019, 3M announces the acquisition of Acelity Inc. Through this acquisition the company aimed to expand its product portfolio in the market.
3M is the dominating player in the U.S. pipe insulation market. The other key players existing in the market are Saint-Gobain, BASF SE, Dow Izolan, Huntsman International LLC, All American Insulation Services Inc., ARMACELL, Commercial Thermal Solutions, Inc., PolarClad Tank Insulation, ROCKWOOL International A/S, Owens Corning, Mayes Coatings and Insulation, Inc., Knauf Insulation, Covestro AG, DUNMORE, GILSULATE INTERNATIONAL, INC, Great Lakes Textiles, Johns Manville, Kingspan Group and L'ISOLANTE K-FLEX S.p.A. among others.
3Mis headquartered in Minnesota, U.S and founded in the year 1902. The company is focused in applying science in collaborative ways in order to improve the lives of people. The company has several product categories including Abrasives, Adhesives and Tapes, Advanced Materials, Automotive Parts and Hardware, Building Materials, Cleaning Supplies, Coating, Communications, Compounds and Polishes, Dental and Orthodontics, Electrical, Electronics Components, Films and Sheeting, Filtration and Separation, Home, Insulation, Lab Supplies and Testing, Labels, Lubricants, Medical, Office Supplies, Personal Protective Equipment, Signage and Marking, Tapes, Tools and Equipment in which Advanced Materials, Tapes are the market focused category.
- In May 2019, 3M announced the acquisition of Acelity Inc. Through this acquisition the company aimed to expand its product portfolio in the market.
The company has wide presence across North America, Latin America, Middle East and Africa, Asia-Pacific. The company also has various subsidiary companies including 3M Japan Ltd(Japan), 3M India ltd(India), 3M Canada(Canada), 3M Thailand ltd(Thailand), 3M Russia(Russia) among others.
BASF SE is headquartered in Ludwigshafen, Germany and founded in the year 1961. The company is engaged in providing chemicals, plastics, performance products and crop protection products to oil and gas. The company has various product categories which are Wire and Cable, Industrial Manufacturing, Appliances, Automotive, Construction, Electronics and Electric, Footwear, Furniture, Medical Technology, Packaging and Powertools in which Construction is the market focused category.
- In April 2019, BASF SE and Aspen Aerogels, Inc. entered in to a strategic partnership with the sign of an addendum. The addendum provides supply and production of thermal insulation products. It helped the company to strengthen its financial position and get cooperative development.
The company has presence across Americas, Asia, Middle East and Africa and Europe. The company also has various subsidiaries including BASF Coatings GmbH ( Germany), Wintershall (Germany) , BASF Japan (Japan), Engelhard (U.S.), PCI Augsburg GmbH (Germany), Cognis (Germany) among others.
Dow Izolan isheadquartered in Vladimir, Russia and founded in the year 2006. The company is engaged in sustainable material sciences. The company operates its business via several business segments including Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, Performance Materials and Coatings, and Corporate in which Performance Materials and Coatings is the market focused segment. The company has various product categories which are Engineering Elastomers and Coatings, Infrastructure, Furniture Industry, Footwear Industry, Construction, Pipe Insulation, Transportation, Household and Refrigeration Equipment in which Pipe Insulation is the market focused category.
- In July 2018, Dow Izolan has announced that they are planning to expand their PU system plant in Russia by 2019. This upgradation is to add capacity and enable the manufacture of new products. This helped the company to develop new pipe insulation products that helps to increase their revenue.
The company has presence across Americas, Europe, Middle East and Africa and Asia-Pacific. The company also has various subsidiaries including Arabian Chemical Company (Saudi Arabia), Carbide Chemical (Thailand) Limited (Thailand), CHPM Company Limited (U.K.), Dow Austria Gesellschaft m.b.H. (Austria) among others.