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Cryogenic Insulation Market Report
Cryogenic Insulation Market Size, Share, Trend, Forecast, & Industry Analysis - 2020-2025.
Cryogenic Insulation market is likely to witness an impressive CAGR of 7.2% during the forecast period. The major factor driving the market for cryogenic insulation is mainly the increasing usage of these insulators in various industrial applications, such as LNG as fuel, rising demand for transportation and storage of liquefied gases.
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Cryogenic Insulation Market - Snapshot |
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Growth |
7.2% for the next five years |
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Major Material Type |
PU & PIR |
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Major Cryogenic Equipment |
Tanks |
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Dominant End-Use Industry |
Energy & Power |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Armacell International Holding GmbH (Germany), Lydall Inc. (US), BASF SE (Germany), Cabot Corporation (US), Rochling Group (Germany), and Johns Manville Inc. (US). |
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Based on the material type, the market is segmented as Pu & PIR, cellular glass, polystyrene foam, fiberglass, perlite, and others. The PU & PIR segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The wide use of PU & PIR material in healthcare, cold storage building, coolers, freezers, tanks & pipe insulation, and household refrigerators is driving the growth of this segment.
Based on the cryogenic equipment type, the market is segmented as tanks, valves, vaporizers, pumps, and others. The tanks segment dominates the market due to its increasing demand in the energy & power industry for the storage and transportation of LNG. Further, the segment is expected to continue its dominance during the forecast period.
Based on the end-use industry type, the market is segmented as energy & power, chemicals, metallurgical, electronics, shipping, and others. The demand for cryogenic insulation in the energy & power industry is expected to grow as a result of the increasing demand for LNG as fuel.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing cryogenic insulation market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as energy & power, chemicals, electronics, and others. Increasing investment in the energy sector along with rising demand for LNG is expected to drive the cryogenic insulation market in the region during the forecast period.
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Cryogenic insulation has a wide range of applications in the storage and transport sector of the energy & power industry. Liquefied natural gas (LNG) expands by 600 times when it is transformed from liquid to gaseous state. Volume is an important economic and technical aspect when it comes to transporting or storing this raw material. The gas will only maintain its liquid state at a constant temperature of less than -163 °C. Therefore, the high-quality and dependable insulation of pipelines, processing plants, transport and storage vessels is, therefore a vital part of the LNG business.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Cryogenic Insulation Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The cryogenic insulation market is segmented into the following categories.
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Some of the major players in the cryogenic insulation market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
The cryogenic insulation market is expected to witness an impressive growth of 7.2% CAGR in the foreseeable future.
Armacell International Holding GmbH, Lydall Inc., BASF SE, Cabot Corporation, Rochling Group, and Johns Manville Inc are among the key players in the cryogenic insulation market.
Asia-Pacific is expected to remain the largest cryogenic insulation market during the next five years.
The PU & PIR segment is expected to remain dominant material type in the cryogenic insulation market.
The tanks segment dominates the market due to its increasing demand in the energy & power industry for the storage and transportation of LNG.
The major factor driving the cryogenic insulation market is increasing usage of these insulators in various industrial applications, such as LNG as fuel, rising demand for transportation and storage of liquefied gases.
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