Global Cryogenic Insulation Market By Type (PU & PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite, Others), Cryogenic Equipment (Tanks, Valves, Vaporizer, Pump, Others), Form (Multi- Layer, Foam, Bulk- Fill), End- Use Industry (Energy & Power, Chemicals, Metallurgical, Electronics, Shipping, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Cryogenic Insulation Market
Global Cryogenic Insulation Market is expected to rise from its initial estimated value of USD 2.29 billion in 2018 to an estimated value of USD 4.09 billion by 2026, registering a CAGR of 7.53% in the forecast period of 2019-2026. Increasing demand for liquefied natural gas is the major factor for the growth of this market.
Market Definition: Global Cryogenic Insulation Market
Cryogenics is the production and behaviour of material at very low temperature. Cryogenics insulation is a technique which is used for the reliable storage and effective transport of the inflammable products. They usually have high stability and require less maintenance. The main function of the cryogenics is the transportation and storage of LNG.
- Increase in the demand for LNG is the major factor driving the market.
- Use of cryogenics material in aerospace applications.
- Volatile price of the raw material is the factor restraining the growth of this market.
Segmentation: Global Cryogenic Insulation Market
- By Type
- Polyurethane (PU) & Polyisocyanurate (PIR)
- Cellular Glass
- By Cryogenic Insulation
- By Form
- Multi- Layer
- Bulk- Fill
- By End- Use Industry
- Energy & Power
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In January 2019, Quantum Cryogenics launched indirect whole body cryotherapy chamber. This delivers ultra- cold temperature that has been chilled using liquid nitrogen.
- In November 2018, NASA announced the upcoming launch of their Robotics Refuelling Mission 3 that will have techniques for storing and replenishing cryogenic spacecraft fuel. Cryogenic fluid can serve as a very potent fuel.
Competitive Analysis: Global Cryogenic Insulation Market
Global cryogenic insulation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cryogenic insulation market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Cryogenic Insulation Market
Few of the major competitors currently working in cryogenic insulation market are Amol Dicalite Limited, Armacell, Aspen Aerogels, Inc., BASF SE, Cabot Corporation, DUNMORE, Hertel Holding B.V., Imerys, Isover, Johns Manville, Lydall, Inc., Owens Corning and Röchling Group.
Research Methodology: Global Cryogenic Insulation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved