Cryogenic vessel insulation is a tried and proven process. Insulating medium for double-walled cryogenic vessels is cryogenic paper and foil. Every reflective foil sheet is insulated with glass fibre film, which has a low thermal conductivity, which decreases heat transfer and minimizes liquid and gas losses. The surface of an inner vessel is lined with multiple layers of paper and foil, and the area between the inner and outer vessels is sealed with a vacuum pump to the necessary pressure.
The global Cryogenic Insulation market is projected to reach $6.42 billion by 2030, growing at a CAGR of 8.11%
The aim of the report is to estimate the size of the market for Cryogenic Insulation and the future growth potential of the market for Cryogenic Insulation across various segments, such as base material, pack form, antimicrobial agents, technology, the end-user industry and the area. During the forecast era, the chemical sector is projected to be the Cryogenic insulation market's second-largest end-use industry in terms of volume. The demand for Cryogenic insulation in the industry is expected to grow as chemical processing capacities expand across the world.
The base year considered for the analysis is 2019 and from 2020 to 2025 the market size is estimated. Factors such as rising demand in the Asia-Pacific region, growth in the Metallurgical and healthcare sectors, and increasing consumer understanding of health are the key drivers of the Cryogenic Insulation market in the coming years. The base year considered for the report is 2015, whereas the forecast period considered for the report is 2016–2021.
Growing need for LNG as a fuel, the demand for cryogenic insulation is expected to grow in the industry. Furthermore, a high degree of environmental consciousness across regions is a significant driver of LNG production. Furthermore, increasing LNG demand from a number of industries around the world is expected to fuel demand for transportation and storage, which is expected to benefit industry growth over the projected period.
Cryogenic Insulation Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$6.42 billion|
|Growth Rate||CAGR of 8.11% during 2021-2030|
|Segment Covered||by Material Type, End-Use Industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||KAEFER (Germany), Cabot Corporation (US) – Nanogel, BASF SE (Germany), Lydall, Inc (US), Armacell Enterprise GmbH & Co. KG (Germany) – Armaflex, Owens Corning (US) – FOAMGLAS, Aspen Aerogels (US) – Pyrogel, Cryogel, Röchling (France) – Durolight, DUNMORE (US) – CRYO-SHIELD Multilayer, NICHIAS Corporation (Japan) – FOAMNERT Board-TN, Norplex Micarta (US) – NP500CR|
Key Segments of the Global Cryogenic Insulation Market
Material Type Overview, 2018-2028 (USD Million)
- PU & PIR
- Elastomeric foam
- Cellular Glass
Application 2018-2028 (USD Million)
- Oil & Gas
- Energy & Power
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Cryogenic Insulation market
- Perlite International A/S
- Lydall Inc.
- BASF SE
- Cabot Corporation
- Dunmore Corporation
- Pittsburgh Corning Corporation
- Imerys Minerals
- Aspen Aerogels
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Cryogenic Insulation Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Cryogenic Insulation Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Cryogenic Insulation Market. The report will benefit: Every stakeholder involved in the Cryogenic Insulation Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Cryogenic Insulation Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Cryogenic Insulation Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.