According to the new market research report [143 Pages] “Cryogenic Insulation Market by Type (PU & PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite), Cryogenic Equipment (Tanks, Valves), End-Use Industry (Energy & Power, Chemicals, Metallurgical, Electronics, Shipping) – Global Forecast to 2023″, published by MarketsandMarkets™, the Cryogenic Insulation Market is projected to reach USD 3.3 billion by 2023, at a CAGR of 7.20% from USD 2.3 billion in 2018.
Request for PDF of report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193543376
PU & PIR segment is expected to be the largest contributor to the overall cryogenic insulation market during the forecast period.
On the basis of type, the cryogenic insulation market has been segmented into PU & PIR, cellular glass, polystyrene, fiberglass, perlite, plastic, rubber, metal, ceramic, and others. The PU & PIR segment is expected to lead the cryogenic insulation market between 2018 and 2023, in terms of value. The higher demand for PU & PIR is mainly attributed to their properties and widespread applications. PUR & PIR foam is lightweight, moisture and fire resistant, has low thermal conductivity and density, and provides better structural performance. These properties enable their use in cryogenic conditions. They are used in various applications such as cold storage building, coolers, freezers, tank & pipe insulation, and household refrigerators.
The tank segment accounts for the largest share of the overall market.
On the basis of cryogenic equipment, the cryogenic insulation market has been segmented into tanks, valves, vaporizers, pump, and others. The tank segment is expected to account for the largest share of the cryogenic insulation market during the forecast period. The dominance of the tank segment is expected to continue during the forecast period due to its increasing demand from end-use industries such as energy & power for the storage and transportation of LNG.
The energy & power segment is projected to be the fastest-growing end-use industry of cryogenic insulation during the forecast period.
On the basis of end-use industry, the cryogenic insulation market has been segmented into energy & power, chemicals, metallurgical, electronics, shipping, and others. The energy & power segment is estimated to be the largest end-use industry of the cryogenic insulation market, in terms of value, during the forecast period. The demand for cryogenic insulation in the industry is expected to increase as a result of increasing demand for LNG as fuel.
APAC is expected to account for the largest share of the cryogenic insulation market during the forecast period.
The APAC cryogenic insulation market accounted for the largest share in the global market. The market in the region is driven by the high demand from rapidly growing end-use industries such as energy & power. Rising demand for LNG, increasing investment in the energy sector, urbanization, industrialization, and infrastructural development are expected to drive the cryogenic insulation market during the forecast period.
Key Market Players
Key market players profiled in the report include Armacell International Holding GmbH (Germany), Lydall Inc. (US), BASF SE (Germany), Cabot Corporation (US), Rochling Group (Germany), and Johns Manville Inc. (US).
Early buyers will receive 10% customization on this report.
Don’t miss out on business opportunities in Cryogenic Insulation Market.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062