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
