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According to a P&S Intelligence report, in 2018, the global pre-insulated pipes market reached a value of $5,568.5 million, and it is predicted to generate revenue of $9,597.9 million by 2024, advancing at a 9.7% CAGR during 2019–2024. Pre-insulated pipes, also known as bonding pipes or insulated pipes, are made up of three layers, namely outer jacket, carrier pipe, and insulation layer. These pipes can be installed below the ground or above the ground. As below-ground-installed pipes are less prone to damage by calamities, require less structural support, and are easy to install, their demand was higher in 2018.
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