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

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Global Tank insulation market is predicted to value over USD 7 billion by 2026 end and grow at a CAGR of over 4% during the forecast period 2019 to 2026. Tank insulation is the process of applying various chemicals and materials to the surface and
Tank Insulation Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global Tank insulation market is predicted to value over USD 7 billion by 2026 end
and grow at a CAGR of over 4% during the forecast period 2019 to 2026.
Tank insulation is the process of applying various chemicals and materials to the
surface and inside of the tank. It migrates the heater from water and passes through
the radiator for heating purposes. Nearly all industries use tanks depending on the
shape and size. Different tanks are utilized to transport and stock liquid gases
alongside low static evaporation. Tank Insulation is also utilized for the preservation
of gases like LPG, Chlorine, Ammonia, Hydrogen, butane, oxygen and argon.
Tank Insulation market is segmented in fibreglass, polystyrene polyurethane foam,
elastometric foam and rockwool. Fiberglass demands efficient and safe handling.
Various end-user industries like energy & power, food, chemical and oil & gas. Tank
Insulation is used for the packaging of medical supplies. Advancement in
technologies has led to affordable prices of tank insulation which has generated
more growth of the market. Since it curbs pollution, governments of various
countries are giving subsidies for the establishment of tank insulation. Gradually
increasing oil production in countries like Saudi Arabia, Iran and the US is driving the
growth of the market. Expansion of chemical and gas sectors is also contributing to
the rapid growth of the market.
However, tank insulation is capital intensive market and requires advanced skills for
installation and maintenance which has hindered the growth of the market. Poorly
installed insulated tanks could add safety risks, energy costs and reduce efficiency.
This has further restrained the growth of the market.
North America currently holds a vast market share of the tank insulation market
because of rising efforts to reduce emissions and growth of the industrial sector. It is
followed by Europe which controls significant market share in the global market.
The Asia Pacific is expected to grow at a fast pace as well owing to rising awareness
about environmental pollution. Developing Asian nations like India, Japan and China
have witnessed a gradual increase in demand for electricity.
Key players of the market are Owens Corning, Kingspan, Armacell International, BASF
SE and Rockwool International.
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Tank Insulation Market Restraints:
● Capital intensive market
● Requires advanced skills for installation and maintenance
● Poorly installed insulated tanks could add safety risks, energy costs and reduce
the efficiency
Tank Insulation Market by Segmentation:
By Material Type:
● Cellular Glass
● Pu & Pir
● Fiberglass
● Rockwool
● Elastomeric Foam
● Others
By Temperature:
● Hot
● Cold
By Type:
● Transportation Tank Insulation
● Storage Tank Insulation
By End User
● Chemical
● Oil & Gas
● Food & Beverage
● Energy & Power
● Other
By Region:
● Europe
● North America
● APAC
● Latin America
● Rest of World
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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
FutureWise Key Takeaways
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Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth
Objectives of the Study
● To provide an exhaustive analysis on global tank insulation market on the basis of
type of material, temperature, type, end-use industry and region
● To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
● To evaluate and forecast micro-markets and overall market
● To predict market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East and 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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