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Cryogenic Insulation Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Global cryogenic insulation market expected to value over USD 24.5 billion by 2026 end and grow at a CAGR of over 6.4% during the forecast period 2019 to 2026. Cryogenic insulation is important for storing and transporting Liquefied Natural Gas (L
Cryogenic Insulation Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global cryogenic insulation market expected to value over USD 24.5 billion by 2026
end and grow at a CAGR of over 6.4% during the forecast period 2019 to 2026.
Cryogenic insulation is important for storing and transporting Liquefied Natural Gas
(LNG). LNG is on an extensive demand due to its uses in various industries like
domestic and commercial fuel, automotive and power generation. These factors
expected to increase the exploration of natural gas and its production which will be
the driving force for the cryogenic insulation market. Due to an increase in storage
tanks, LNG terminals and shipping of LNG, there will be a huge requirement of
insulating materials which will let the cryogenic insulation market grow even
further.
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Insights on Global Cryogenic Insulation Market:
1. By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America is expected to dominate the market during the forecast period due to
huge investments in the oil & gas industry in the region. Similarly, Europe region is
also expected to gain high traction during the forecast period. Asia Pacific is expected
to experience a considerable rise in the market due to rapid growth in the power and
energy industry in this region. China leads the Asia Pacific region and is expected to
witness a rise during the forecast period as there is a high demand of LNG in
industries like chemical industry, electronic industry, power and energy industry, etc.
The Middle East region is also expected to witness a rise in the market growth rate
due to their possession of huge oil reserves which will be used to create fuels like
LNG thus pushing the cryogenic insulation market in the forward direction.
2. By Equipment Type
• Polyurethane (PU)
• Polyisocynurate (PIR)
• Cellular Glass
• Polystyrene
• Fibreglass
• Perlite
PIR and PU equipments are used for storing LPG and LNG in extremely low
temperatures. Therefore, this can be used for long-distance transportation. These
factors are the reasons they dominate the cryogenic insulation market and it is
expected that these segments will continue to dominate the market during the
forecast period.
3. By End-User Industry Type
• Energy & Power
• Chemicals
• Metallurgical
• Shipping
• Electronics
Energy & power segment accounts for the largest share of the market and is
expected to stay consistent during the forecast period. In the energy & power sector,
cryogenic insulation is used in the liquefaction plant, where natural gas is converted
into a liquid state and in storage and transportation vessels in which LNG is stored.
As a result of an increase in demand for using LNG as a fuel, it is expected that the
demand for cryogenic insulation will increase giving a boost to the market.
4. By Form Type
• Bulk-Fill
• Multi-Layer
• Foam
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Competitive Landscape:
• Tier 1 players- established companies in the market with major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Tier 1 companies have a market share of 46% while tier 2 and tier 3 companies have
a market share of 31% and 23% respectively.
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global cryogenic insulation market
by region, by equipment type, by end-user industry type, by form type
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Middle East & Africa
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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