Increasing Demand from Oil and Gas Industry and Growing Demand for Cryogenics Insulation in LNG storage and Transportation are Driving the growth of Global Tank Insulation Market in the forecast period of 2019 to 2026

Global tank insulation market is expected to register a substantial CAGR of 5.3% in the forecast period of 2019 -2026.

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Drivers: Global Tank Insulation Market

  • Increasing demand from oil & gas industry
  • Growing demand for cryogenics insulation in LNG storage and transportation

Restraint

  • Change of chemical structure due to adulteration through insulating material

Opportunity

  • High demand for tanks due to growing petrochemicals industry in China and India

Challenge

  • Fire and explosion due to chemical reaction with insulating material in tank

Market Trends

  • On the basis of type, the market is segmented into storage and transportation.The transportation segment is expected to grow at the highest CAGR in the forecast period of 2019 to 2026.
  • On the basis of material type, the market is segmented into expanded polystyrene (EPS), rockwool, cellular glass, fiberglass, elastomeric foam, polyurethane (PU) and others
  • On the basis of temperature type, the market is segmented into hot insulation and cold insulation
  • On the basis of tank type, the market is segmented into vertical tank, horizontal tank, fixed tank and mounted tank
  • On the basis of tank ends, the market is segmented into parabolic dish and flat
  • On the basis of end-user, the market is segmented into oil & gas, energy and power, chemical, food and beverages, water purification, wastewater purification and others.

Major Players: Global Tank Insulation Market

Some of the major players operating in this market are:

  • Huntsman International LLC.
  • Akzo Nobel N.V.
  • Solvay
  • BASF SE
  • EVONIK INDUSTRIES
  • Clariant
  • The Dow Chemical Company
  • Kemira
  • SNF Group
  • Orica Limited
  • Hychem, Inc.
  • Ecolab
  • Solenis
  • Cochran Chemical Company Inc.
  • IXOM
  • Exxon Mobil Corporation
  • Shandong Acid Technology Co., Ltd.
  • ArrMaz
  • CP Kelco
  • Moly-cop
  • NALCO
  • Teiling Beneficiation Reagent Co. Ltd.
  • Air Products and Chemical
  • Chevron Philips Technology Company
  • Ashland