PVC jacketed insulation painted....
that is a water line that is insulated and has a PVC jacket on it. The drain line next to it is cast iron.
I don't give a frick what it is. The fact that this pipe is visible at all is a testament to negligence and incompetence. Poor design that should have been corrected either before or during construction.
Painting it is just like pouring sugar on a pile of shite. The damn thing needs to be routed differently to where it's not visible at all. That entire small section up by the pipe is one big eyesore.