GlobalCryogenic Insulation Market was valued at US$ 3.68 Bn in 2019 and isexpected to reach US$ 6.3Bn by 2027, at a CAGR of 8.1% during a forecastperiod.
The report includes the analysis of impact of COVID-19lock-down on the revenue of market leaders, followers, and disrupters. Sincelock down was implemented differently in different regions and countries,impact of same is also different by regions and segments. The report hascovered the current short term and long term impact on the market, same willhelp decision makers to prepare the outline for short term and long termstrategies for companies by region.
Global Cryogenic Insulation Market Dynamics
Rise in the LNG terminals, ships for transporting LNG, andeffective and advanced storage tanks are boosting growth of the globalcryogenic insulation market. Furthermore, the growing demand for gasliquefaction is boosting the cryogenic insulation market. Also, PU & PIRequipment is effectively used in the storage of the LNG and LPG for storing thegases in extremely low temperatures. Increasing transportation activities ofthese liquefied gases are boosting growth of the global cryogenic insulationsmarket.
Furthermore, these insulations have applications across coldstores and food processing plants. Increasing disposable income and varyingeating habits are boosting demand for the processed foodstuffs. This is anotherprominent factor that is propelling growth of the global cryogenic insulationmarket .Moreover, rising demand for LNG, urbanization, growing investment inenergy sector, industrialization, and infrastructural development is propellinggrowth of the global cryogenic insulation market.
Global Cryogenic Insulation Market Segment Analysis
Based on type segment, the PU & PIR segment is estimatedto hold largest market share during the forecast period. The dominance of thePU & PIR segment is projected to continue during the forecast periodbecause of its growing use in the gas liquefaction industry. PU & PIR aremajorly used in storage & transportation facilities of LNG, ethylene, LPG,ammonia/ fertilizer, and underground oil ducts, where extremely lowtemperatures are required. Furthermore, these are also used in cold stores andfood processing plants.
On the basis of end-use industry segment, the energy &power segment is expected to hold largest market share during the forecastperiod. In the energy & power segment, cryogenic insulation is used intransportation & storage vessels, where LNG is stored in the liquefactionplant, where conversion of natural gas into liquid state is undertaken. Thedemand for cryogenic insulation in the industry is estimated to increase as aresult of growing demand for LNG as fuel.
Global Cryogenic Insulation Market Regional insights
In terms of region, APAC global cryogenic insulation marketis projected to witness considerable growth on account of rapidly growingend-use industries like energy& power. China is expected to hold thelargest market share during the forecast period, because of the high demand forstoring and transporting cryogenic fluids from a wide range of end-useindustries like chemicals, shipbuilding, energy& power industries, electronics.Rising demand for LNG, increasing investment in the energy sector,industrialization, urbanization, and infrastructural development are projectedto drive the global cryogenic insulation market during the forecast period.
The report offers a complete estimation of the market. Itprepares so via detailed qualitative insights, historical data, and verifiableprojections about market size. The estimates featured in the report have beenderived using proven research organizations and expectations. By responsibilityso, the research report serves as a repository of analysis and information forevery facet of the market.
The objective of the report is to present a comprehensiveassessment of the market and contains thoughtful insights, facts, historical data,industry-validated market data, and projections with a suitable set ofassumptions and methodology. The report also helps in understanding CryogenicInsulation dynamics, structure by identifying and analyzing the market segmentsand project the global market size. Further, the report also focuses on thecompetitive analysis of key players by product, price, financial position,product portfolio, growth strategies, and regional presence.
The report also provides PEST analysis, PORTER’s analysis,SWOT analysis to address the question of shareholders to prioritizing theefforts and investment in the near future to the emerging segment in LaboratoryProficiency Testing.
Global Cryogenic Insulation Market, Key Highlights:
• Global Cryogenic Insulation Market analysis and forecast,in terms of value.
• Comprehensive study and analysis of market drivers,restraints, and opportunities influencing the growth of the Global CryogenicInsulation Market
• Global Cryogenic Insulation Market segmentation on thebasis of type, source, end-user, and region (country-wise) has been provided.
• Global Cryogenic Insulation Market strategic analysis withrespect to individual growth trends, future prospects along with thecontribution of various sub-market stakeholders have been considered under thescope of study.
• Global Cryogenic Insulation Market analysis and forecastfor five major regions namely North America, Europe, Asia Pacific, the MiddleEast & Africa (MEA), and Latin America along with country-wisesegmentation.
• Profiles of key industry players, their strategicperspective, market positioning, and analysis of core competencies are furtherprofiled.
• Competitive developments, investments, strategicexpansion, and competitive landscape of the key players operating in the GlobalCryogenic Insulation Market are also profiled.
Scope of Global Cryogenic Insulation Market
Global Cryogenic Insulation Market, by Type
• Pu&Pir
• Cellular Glass
• Polystyrene Foam
• Fiberglass
• Perlite
• Others
Global Cryogenic Insulation Market, by Cryogenic Equipment
• Tank
• Valve
• Vaporizer
• Pump
• Other
Global Cryogenic Insulation Market, by Form
• Mulit-Layer
• Foam
• Bulk-Fill
Global Cryogenic Insulation Market, by End-Use Industry
• Energy & Power
• Chemicals
• Metallurgical
• Electronics
• Shipping
• Others
Global Cryogenic Insulation Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Cryogenic Insulation Market Key Players
• Armacell International Holding GmbH
• Lydall Inc.
• BASF SE
• Cabot Corporation
• Rochling Group
• Johns Manville Inc.
• Dunmore Corporation
• Pittsburgh Corning Corporation
• Imerys Minerals
• Aspen Aerogels
• Isover (Saint Gobain)
• Hertel
• AmolDicalite Limited
• G+H Group.
• zircarrefractories,
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