In 2018, Cryogenic Insulation Market Size was valued at around USD 2.27 billion and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to the latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.

Global Cryogenic Insulation Market Growth Opportunities (Revenue, Growth) By 2017-2025

Cryogenic insulation in today’s time has become significant for a number of industries due to the rise in demand for safeguarding substances by preserving them in low temperature. Cryogenic insulation is the best solution of heat leaks and damage to a substance due to exposure to higher temperature.

Market Dynamics

In 2018, cryogenic insulation market was valued at around USD 2.27 billion and is anticipated to rise crucially over the forecast period owing to increase in demand for cryogenic insulation by various industries such as food & beverages, chemicals, and others. In the energy industry, cryogenic insulation is majorly used for the storage and transportation of LNG, which in return is boosting the growth of cryogenic insulation market. Escalation demand of LNG by various sectors such as power generation, automotive, commercial fuel transportation and others is boosting the growth of cryogenic insulation market. The rising number of LNG terminals have increased the demand for suitable cryogenic materials which is fueling the demand of cryogenic insulation market. The high heat resistance, longitivity and other important features of cryogenic insulation is expected to fuel the growth of cryogenic insulation market during the forecast period. However, the high price of cryogenic insulation materials can hinder the growth of cryogenic insulation market during the forecast period.

Segment Analysis 

Among type, PU & PIR segment is expected to excel the global cryogenic insulation market, due to rise in utilization of cryogenic insulation in gas liquefaction sector. The high use of PU & PIR in transportation and storage of important commercial gases such as LPG, ammonia, and LNG is another significant reason that is anticipated to propel the growth of the segment during the forecast period. High demand for PU & PIR by food cold storages to preserve food and beverages is also boosting the growth of the segment.

 Among end-users, energy & power segment is expected to be leading the market during the forecast period, due to high use of cryogenic insulation in transportation and storage of substances such as LNG, and others. Rise in demand for LNG is expected to drive the growth of cryogenic insulation market over the forecast period.

Regional Analysis

North America is expected to hold the major revenue share in the global cryogenic insulation market, owing to advancement of technology in the region, coupled with increased utilization of protective insulation inflammable substances such as oil & gases.

Global Cryogenic Insulation Market Size, Share Analysis By Region 2017

Asia Pacific is expected to be the fastest growing region in the global cryogenic insulation market, due to increasing industrialization and growth in energy & power industry of the region. Rising end-use industries such as electronics, chemicals, energy and others in growing countries such as China and India is expected to help in the growth of cryogenic insulation market over the forecast period. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Cryogenic Insulation Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Cryogenic Insulation Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in cryogenic insulation market are included as primary sources of the supply side.

After performing comprehensive engineering of cryogenic insulation market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Competitive Landscape

Major players performing in cryogenic insulation market include BASF SE, Johns Manville Inc., Dunmore Corporation, Armacell International Holding GmbH, Sordal, Saint-Gobain SA, Celotex Ltd., Cabot Corporation, Lydall Inc., Aspen Aerogels and Rochling Group.

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