Step 1: Heat easily escapes through single-wall stove pipe. Using single-wall pipe to run from the stove to the insulated chimney pipe is the best way capture heat as it escapes out the pipe walls.

However, in most cases, good single-wall steel stove pipe such as yours will last for many years. I am aware of three conditions that can cause premature failure of stove pipe.

As can be seen from the video below the break, his stove appears to be in a workshop, and has a long single-wall metal stove pipe.