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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

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    Report

  • 127 Pages
  • November 2018
  • Region: Global
  • Markets and Markets
  • ID: 4720636
Description Jump to:

Rising demand for liquefied natural gas as fuel is expected to drive the cryogenic insulation market

The cryogenic insulation market is estimated to be USD 2.3 billion in 2018 and is projected to reach USD 3.3 billion by 2023, at a CAGR of 7.20% between 2018 and 2023. The cryogenic insulation market is largely driven by the rising demand for liquefied natural gas as fuel. Transportation and storage of LNG is the major application of cryogenic insulation in the energy and power sector. Since a major share of the market is held by this segment, LNG applications are considered to have a great impact on the market during the forecast period.

LNG consumption is expected to increase further in the future due to environmental regulations regarding carbon dioxide emission and marine shipping vessels. Rising demand for LNG in various sectors such as automotive, domestic & commercial fuel, and power generation is expected to boost natural gas exploration and production, thereby, driving the growth of the cryogenic insulation market. In the future, due to an increase in LNG terminals, storage tanks, and ships carrying LNG, a substantial amount of insulating materials will be required, which is projected to drive the cryogenic insulation market. However, the volatile raw material price is a major restraint for the growth of the market.

The PU & PIR segment is expected to be the second-fastest growing type in the cryogenic insulation market, in terms of value, from 2018 to 2023

The PU & PIR segment is expected to witness the highest growth, in terms of value, from 2018 to 2023. PUR & PIR foams are lightweight, moisture and fire resistant, and have low thermal conductivity and density. They also provide 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 energy & power end-use industry is projected to account for the largest share of the overall cryogenic insulation market, in terms of value, between 2018 and 2023

Energy & power is the largest market for cryogenic insulation materials. In energy & power, these materials are used for insulation of storage tanks, where LNG is stored, and in a liquefaction plant, where conversion of natural gas into its liquid state is undertaken. These storage tanks can also be used for storage of other liquefied gases including butane, ammonia, chlorine, propane, propylene, carbon dioxide, LNG, LPG, ethylene, oxygen, argon, nitrogen, and hydrogen. This insulation system limits the entry of outside heat inside the process pipes and systems to keep the liquid cool and allowing it to retain its properties.

APAC is expected to be the third-fastest growing cryogenic insulation market during the forecast period, in terms of value

The APAC cryogenic market is estimated to witness considerable growth owing to rising demand for storing and transporting cryogenic fluids in a wide range of end-use industries such as chemicals, shipbuilding, electronics, and energy & power. Rising demand for LNG and increasing investment in the energy sector is expected to drive the cryogenic insulation market in the region during the forecast period.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.

A breakdown of the profiles of the primary interviewees are as follows:

  • By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
  • By Designation: C-Level - 46%, Director Level - 27%, and Others - 27%
  • By Region: North America - 33%, Europe - 27%, APAC - 27%, Middle East & Africa - 6%, and South America - 7%

Key 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).

Research Coverage

This report segments the market for cryogenic insulation on the basis of type, form, cryogenic equipment, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and agreements associated with the market for cryogenic insulation.

Reasons to Buy this Report

This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the cryogenic insulation market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on cryogenic insulation offered by top players in the global cryogenic insulation market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the cryogenic insulation market
  • Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for cryogenic insulation across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global cryogenic insulation market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the cryogenic insulation market

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Cryogenic Insulation Market
4.2 APAC Cryogenic Insulation Market, By End-Use Industry and Country
4.3 Cryogenic Insulation Market, By Region
4.4 Cryogenic Insulation Market, By Region and End-Use Industry
4.5 Cryogenic Insulation Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for LNG as Fuel
5.2.1.2 Rising Environmental Awareness
5.2.2 Opportunities
5.2.2.1 Growing Demand for Cryogenic Technologies From Space Applications
5.2.3 Restraints
5.2.3.1 Volatile Raw Material Prices
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP Forecast of Major Economies
5.4.2 Trends and Forecast of Natural Gas Industry and Its Impact on Cryogenic Insulation Market
6 Cryogenic Insulation Market, By Type
6.1 Introduction
6.2 Pu & Pir
6.3 Cellular Glass
6.4 Polystyrene Foam
6.5 Fiberglass
6.6 Perlite
6.7 Others
7 Cryogenic Insulation Market, By Cryogenic Equipment
7.1 Introduction
7.2 Tank
7.3 Valve
7.3.1 Rising Demand for Transport of Liquified Gases to Drive the Demand for Valves
7.4 Vaporizer
7.5 Pump
7.5.1 Increase in LNG Projects and Import Terminals are Expected to Drive the Demand for Pumps
7.6 Other
8 Cryogenic Insulation Market, By Form
8.1 Introduction
8.2 Mulit-Layer
8.3 Foam
8.4 Bulk-Fill
9 Cryogenic Insulation Market, By End-Use Industry
9.1 Introduction
9.2 Energy & Power
9.2.1 Energy & Power Segment Accounted for the Largest End-Use Industry of Cryogenic Insulation
9.3 Chemicals
9.3.1 Growing Chemical Industry in Emerging Economies to Drive the Demand for Cryogenic Insulation
9.4 Metallurgical
9.4.1 Increasing Spending on Infrastructure to Drive the Demand for Cryogenic Insulation in Metallurgical Industry
9.5 Electronics
9.5.1 Growing Electronics Industry in APAC is Expected to Drive the Demand for Cryogenic Insulation
9.6 Shipping
9.6.1 Rising Demand for LNG as Fuel to Drive the Demand for Cryogenic Insulation in Shipping Industry
9.7 Others
10 Cryogenic Insulation Market, By Region
10.1 Introduction
10.2 APAC
10.2.1 China
10.2.1.1 China to Be the Largest Country for Cryogenic Insulation in APAC Region
10.2.2 India
10.2.2.1 Increasing Demand From Energy & Power Industry to Contribute Significantly to the Growth of the Cryogenic Insulation in the Country
10.2.3 Australia
10.2.3.1 Australia to Be the Fastest-Growing Country for Cryogenic Insulation in APAC Region
10.2.4 Japan
10.2.4.1 Rising Demand for Renewable Source of Energy to Drive the Demand for Cryogenic Insulation in the Country
10.2.5 Malaysia
10.2.5.1 Rising Demand for LNG Transportation and Storage to Drive the Demand for Cryogenic Insulation in the Country
10.3 North America
10.3.1 Us
10.3.1.1 US Accounted for the Largest Market Size in the Cryogenic Insulation Market in North America
10.3.2 Canada
10.3.2.1 The Growing Demand From Energy & Power Industry Will Support the Demand for Cryogenic Insulation in the Country
10.3.3 Mexico
10.3.3.1 Mexico Accounted for the Third Largest Market Size in the Cryogenic Insulation Market in North America
10.4 Europe
10.4.1 Uk
10.4.1.1 Rising Demand From Emerging Applications to Drive the Demand for Cryogenic Insulation in the Country
10.4.2 Russia
10.4.2.1 Rising Demand From Energy & Power Sector to Drive the Demand for Cryogenic Insulation in the Country
10.4.3 France
10.4.3.1 Rising Demand for Means of Renewable Source of Energy to Drive the Demand for Cryogenic Insulation in the Country
10.4.4 Germany
10.4.4.1 Rising Demand From Emerging Applications to Drive the Demand for Cryogenic Insulation in the Country
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Energy & Power Segment to Be the Fastest Growing End-Use Industry for Cryogenic Insulation Market in Saudi Arabia
10.5.2 Qatar
10.5.2.1 Qatar to Be the Fastest-Growing Country for Cryogenic Insulation in Middle East & Africa Region
10.5.3 UAE
10.5.3.1 Increasing Demand From Energy & Power Industry to Drive the Market in the Country
10.5.4 South Africa
10.5.4.1 Energy & Power Segment to Be the Fastest-Growing End-Use Industry for Cryogenic Insulation in South Africa
10.5.5 Nigeria
10.5.5.1 Increasing in Demand for Storage and Transportation Facilities for LNG to Drive the Demand for Cryogenic Insulation in the Country
10.5.6 Algeria
10.5.6.1 Increasing Domestic Gas Demands and Gas Processing Industries to Drive the Demand for Cryogenic Insulation in the Country
10.6 South America
10.6.1 Brazil
10.6.1.1 Brazil to Be the Largest Country for Cryogenic Insulation in South America Region
10.6.2 Argentina
10.6.2.1 Rising Demand From Energy & Power Segment to Support the Growth of Market in the Country
10.6.3 Venezuela
10.6.3.1 Rising Demand for Gas-Based Electricity Generation is Expected to Drive the Demand for Cryogenic Insulation in the Country
11 Competitive Landscape
11.1 Introduction
11.2 Major Market Players
11.2.1 Armacell International Holding GmbH
11.2.2 Lydall Inc.
11.2.3 BASF SE
11.2.4 Cabot Corporation
11.2.5 Rochling Group
11.3 Competitive Scenarios
11.3.1 Agreement
11.3.2 New Product Launch
12 Company Profiles
12.1 Armacell International Holding GmbH
12.1.1 Business Overview
12.1.2 Products Offered
12.1.3 SWOT Analysis
12.1.4 Publisher's View
12.2 Lydall Inc.
12.2.1 Business Overview
12.2.2 Products Offered
12.2.3 Recent Developments
12.2.4 SWOT Analysis
12.2.5 Publisher's View
12.3 BASF SE
12.3.1 Business Overview
12.3.2 Products Offered
12.3.3 SWOT Analysis
12.3.4 Publisher's View
12.4 Cabot Corporation
12.4.1 Business Overview
12.4.2 Products Offered
12.4.3 Recent Developments
12.4.4 SWOT Analysis
12.4.5 Publisher's View
12.5 Rochling Group
12.5.1 Business Overview
12.5.2 Products Offered
12.5.3 Recent Developments
12.5.4 SWOT Analysis
12.5.5 Publisher's View
12.6 Johns Manville Inc.
12.6.1 Business Overview
12.6.2 Products Offered
12.6.3 Recent Developments
12.7 Dunmore Corporation
12.7.1 Business Overview
12.7.2 Products Offered
12.8 Pittsburgh Corning Corporation
12.8.1 Business Overview
12.8.2 Products Offered
12.9 Imerys Minerals
12.9.1 Business Overview
12.9.2 Products Offered
12.9.3 Recent Developments
12.10 Aspen Aerogels
12.10.1 Business Overview
12.10.2 Products Offered
12.11 Isover (Saint Gobain)
12.11.1 Business Overview
12.11.2 Products Offered
12.12 Hertel
12.12.1 Business Overview
12.12.2 Products Offered
12.13 Amol Dicalite Limited
12.13.1 Business Overview
12.13.2 Products Offered
12.14 G+H Group
12.14.1 Business Overview
12.14.2 Products Offered
13 Appendix
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
List of Tables
Table 1 Trends and Forecast of GDP, 2017-2022 (USD Billion)
Table 2 Cryogenic Insulation Market Size, By Type, 2016-2023 (USD Million)
Table 3 Cryogenic Insulation Market Size for Pu & Pir, By Region, 2016-2023 (USD Million)
Table 4 Cryogenic Insulation Market Size for Cellular Glass, By Region, 2016-2023 (USD Million)
Table 5 Cryogenic Insulation Market Size for Polystyrene Foam, By Region, 2016-2023 (USD Million)
Table 6 Cryogenic Insulation Market for Fiberglass, By Region, 2016-2023 (USD Million)
Table 7 Cryogenic Insulation Market for Perlite, By Region, 2016-2023 (USD Million)
Table 8 Cryogenic Insulation for Others, By Region, 2016-2023 (USD Million)
Table 9 Cryogenic Insulation Market Size, By Cryogenic Equipment, 2016-2023 (USD Million)
Table 10 Cryogenic Insulation Market Size for Tanks, By Region, 2016-2023 (USD Million)
Table 11 Cryogenic Insulation Market Size for Valves, By Region, 2016-2023 (USD Million)
Table 12 Cryogenic Insulation Market Size for Vaporizer, By Region, 2016-2023 (USD Million)
Table 13 Cryogenic Insulation Market for Pump, By Region, 2016-2023 (USD Million)
Table 14 Cryogenic Insulation Market for Other Equipment, By Region, 2018-2023 (USD Million)
Table 15 Cryogenic Insulation Market Size, By Form, 2016-2023 (USD Million)
Table 16 Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 17 Cryogenic Insulation Market Size in Energy & Power, 2016-2023 (USD Million)
Table 18 Cryogenic Insulation Market Size in Chemicals, By Region, 2016-2023 (USD Million)
Table 19 Cryogenic Insulation Market Size in Metallurgical, By Region, 2016-2023 (USD Million)
Table 20 Cryogenic Insulation Market Size in Electronics, By Region, 2016-2023 (USD Million)
Table 21 Cryogenic Insulation Market Size in Shipping, By Region, 2016-2023 (USD Million)
Table 22 Cryogenic Insulation Market Size in Other Industry, By Region, 2016-2023 (USD Million)
Table 23 Cryogenic Insulation Market Size, By Region, 2016-2023 (USD Million)
Table 24 APAC: Cryogenic Insulation Market Size, By Country, 2016-2023 (USD Million)
Table 25 APAC: Cryogenic Insulation Market Size, By Type, 2016-2023 (USD Million)
Table 26 APAC: Cryogenic Insulation Market Size, By Form, 2016-2023 (USD Million)
Table 27 APAC: Cryogenic Insulation Market Size, By Cryogenic Equipment, 2016-2023 (USD Million)
Table 28 APAC: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 29 China: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 30 India: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 31 Australia: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 32 Japan: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 33 Malaysia: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 34 North America: Cryogenic Insulation Market Size, By Country, 2016-2023 (USD Million)
Table 35 North America: Cryogenic Insulation Market Size, By Type, 2016-2023 (USD Million)
Table 36 North America: Cryogenic Insulation Market Size, By Form, 2016-2023 (USD Million)
Table 37 North America: Cryogenic Insulation Market Size, By Cryogenic Equipment, 2016-2023 (USD Million)
Table 38 North America: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 39 US: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 40 Canada: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 41 Mexico: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 42 Europe: Cryogenic Insulation Market Size, By Country, 2016-2023 (USD Million)
Table 43 Europe: Cryogenic Insulation Market Size, By Type, 2016-2023 (USD Million)
Table 44 Europe: Cryogenic Insulation Market Size, By Form, 2016-2023 (USD Million)
Table 45 Europe: Cryogenic Insulation Market Size, By Cryogenic Equipment, 2016-2023 (USD Million)
Table 46 Europe: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 47 UK: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 48 Russia: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 49 France: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 50 Germany: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 51 Middle East & Africa: Cryogenic Insulation Market Size, By Cryogenic Equipment, 2016-2023 (USD Million)
Table 52 Saudi Arabia: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 53 Qatar: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 54 UAE: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 55 South Africa: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 56 Nigeria: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 57 Algeria: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 58 South America: Cryogenic Insulation Market Size, By Country, 2016-2023 (USD Million)
Table 59 Brazil: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 60 Argentina: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 61 Venezuela: Cryogenic Insulation Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 62 Agreement, 2013-2017
Table 63 New Product Launch, 2013-2017
List of Figures
Figure 1 Cryogenic Insulation Market Segmentation
Figure 2 Cryogenic Insulation Market: Research Design
Figure 3 Cryogenic Insulation Market: Data Triangulation
Figure 4 Pu & Pir to Dominate the Cryogenic Insulation Market
Figure 5 Energy & Power to Be the Leading End-Use Industry of Cryogenic Insulation
Figure 6 Tank Segment to Dominate the Cryogenic Insulation Market
Figure 7 APAC Dominated the Cryogenic Insulation Market in 2017
Figure 8 Increasing Demand for LNG to Drive the Cryogenic Insulation Market Between 2018 and 2023
Figure 9 China Accounted for the Largest Market Share in APAC
Figure 10 APAC Accounted for Largest Market Share in 2017
Figure 11 Energy & Power Segment Accounted for the Largest Market Share in Middle East & Africa in 2017
Figure 12 China to Be Fastest-Growing Market Between 2018 and 2023
Figure 13 Drivers, Opportunities, and Challenges in Cryogenic Insulation Market
Figure 14 Global Natural Gas Annual Production, 2012-2017 (Million Tonnes Oil Equivalent)
Figure 15 Cryogenic Insulation Market: Porter’s Five Forces Analysis
Figure 16 Global Natural Gas Annual Production vs Consumption (Million Tonnes Oil Equivalent), 2011-2017
Figure 17 Global Natural Gas Annual Production, 2011-2017 (Million Tonnes Oil Equivalent)
Figure 18 Pu & Pir Segment to Dominate the Cryogenic Insulation Market Between 2018 and 2023
Figure 19 Tanks to Dominate the Cryogenic Insulation Market Between 2018 and 2023
Figure 20 Multi-Layer Segment to Dominate Between 2018 and 2023
Figure 21 Energy & Power Segment to Register Highest CAGR During Forecast Period
Figure 22 Middle East & Africa Market to Register Highest CAGR During the Forecast Period
Figure 23 APAC Cryogenic Insulation Market Snapshot
Figure 24 North American Cryogenic Insulation Market Snapshot
Figure 25 Europe Cryogenic Insulation Market Snapshot
Figure 26 Companies Adopted New Product Launches as the Key Growth Strategy Between 2013 and 2018
Figure 27 Armacell International Holding GmbH: Company Snapshot
Figure 28 Lydall Inc.: Company Snapshot
Figure 29 BASF SE: Company Snapshot
Figure 30 Cabot Corporation: Company Snapshot
Figure 31 Cabot Corporation: SWOT Analysis
Figure 32 Rochling Group: Company Snapshot
Figure 33 Johns Manville Inc.: Company Snapshot
Figure 34 Dunmore Corporation: Company Snapshot
Figure 35 Pittsburgh Corning Corporation: Company Snapshot
Figure 36 Imerys SA: Company Snapshot
Figure 37 Aspen Aerogels: Company Snapshot
Figure 38 Isover (Saint Gobain): Company Snapshot
Figure 39 Hertel: Company Snapshot
Figure 40 Amol Dicalite Limited: Company Snapshot
Figure 41 G+H Group: Company Snapshot

Executive Summary

Companies Mentioned

  • Amol Dicalite Limited
  • Armacell International Holding GmbH
  • Aspen Aerogels
  • BASF SE
  • Cabot Corporation
  • Dunmore Corporation
  • G+H Group
  • Hertel
  • Imerys Minerals
  • Isover (Saint Gobain)
  • Johns Manville Inc.
  • Lydall Inc.
  • Pittsburgh Corning Corporation
  • Rochling Group

Table Information

Report AttributeDetails
No. of Pages127
PublishedNovember 2018
Forecast Period2018 - 2023
Estimated Market Value ( USD ) in 2018 $ 2.3 billion
Forecasted Market Value ( USD ) by 2023 $ 3.3 billion
Compound Annual Growth Rate7.5%
Regions CoveredGlobal
No. of Companies Mentioned14

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