  A three-layer asymptotic structure for turbulent pipe flow is proposed,
revealing in terms of intermediate variables, the existence of a
Reynolds-number invariant logarithmic region. It provides a theoretical
foundation for addressing important questions in the scaling of the streamwise
mean velocity and variance. The key insight emerging from the analysis is that
the scale separation between two adjacent layers is proportional to
$\sqrt{Re_{\tau}}$, rather than $Re_{\tau}$. This suggests that, in order to
realise Reynolds-number asymptotic invariance, much higher Reynolds numbers may
be necessary to achieve sufficient scale separation. The formulation provides a
theoretical basis for explaining the presence of a power law for the mean
velocity in pipe flow at low Reynolds numbers and the co-existence of power and
log laws at higher Reynolds numbers. Furthermore, the Townsend-Perry `constant'
for the variance is shown to exhibit a systematic Reynolds-number dependence.
