Reports
Global Cryogenic Insulation Market Share, Outlook, Forecast: By Type: PU And PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite, Others; By Cryogenic Equipment: Tanks, Valves, Vaporizers, Pumps, Others; By End Use Industry: Energy and Power, Chemicals, Metallurgical, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Cryogenic Insulation Market Outlook
The global cryogenic insulation market is expected to grow at a CAGR of 7.7% during the period 2024-2032. North America, Europe and Asia are likely to be key markets.
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Global Market Likely to be Driven by Multiple Applications and Rising Demand for LNG
Rising global demand for liquefied natural gas (LNG) warrants high-performance technology for reliable transport and storage. Safe and efficient plants need be designed and developed. Extremely low temperatures ranging from -161 to -164 0C (112 to 109 K), at which natural gas is in a liquid state, places high demands on the technical infrastructure throughout the LNG value chain. All plant components and systems that come into contact with liquefied gas need to be very well insulated. This particularly includes pipework through which LNG is transported, and tanks liquefied gas storage. It is vital that tanks and pipework are adequately insulated from adjoining plant elements due to low temperature of the liquefied gas. This is also applicable to points at which mechanical forces need to be absorbed, including mounts or support bearings. Thermal bridges at such points must be avoided; doing so warrants high-performance cryogenic insulation materials that do not become brittle, are capable of absorbing high mechanical forces, and offer very low thermal conductivity.
Solutions by Leading Companies and Multiple Applications Expected to Drive Market Growth
Leading companies offer materials for cryogenic insulation; such solutions are expected to drive the global cryogenic insulation market. For example, Röchling offers materials specifically developed for cryogenic insulation. The company’s laminated densified wood Lignostone® cryogenic and fibre-reinforced composite material Durolight® have been successfully applied in several projects. Owing to their distinct properties, the solutions enable safe and reliable LNG transport and storage.
Lignostone® cryogenic and Durolight® reliably avoid thermal bridges, possess high mechanical stability, enable efficient transport and storage of LNG, are robust and low-maintenance, and have been approved/specified by several companies. Applications of cryogenic insulation materials include Ships (storage tanks, fuel tanks and pipe systems), Terminals (pipe systems, storage tanks and terminals), and Offshore (floating LNG and LPG ships, and bunkering tank supports).
ISOVER has developed the unique CRYOLENE solution for the insulation of cryogenic tank walls and roofs. CRYOLENE products are highly resilient mineral wool rolls designed to retain fibre elasticity over time at temperatures ranging from -1700C to +1200C.
Norplex-Micarta cryogenic insulation materials are engineered and produced particularly for very cold temperature applications in the energy, aerospace, medical and scientific devices, and heavy industry. NP500CR, a specially formulated glass-epoxy sheet material, is appropriate when requirement of superior thermal insulation and structural support unite with cryogenic temperatures. Due to its low moisture absorption, NP500CR could tolerate cycling between low and high temperatures better than several other options. Applications include LNG pipe systems, land, over the road, and ship bunkering tanks to superconducting magnets and fusion reactor insulation.
RT521M, another glass-epoxy material, is a cryogenic rated tube present in different medical and scientific devices, as well as multiple industrial applications for cryogenic storage.
MC330, a cotton-phenolic sheet grade, is a cryogenic material devised for use in applications where abrasiveness or hardness of glass reinforced materials is an issue to designers.
Rising Demand for LNG Expected to Drive Market Growth
LNG is natural gas which when liquefied, has only 1/600 of its volume in a gaseous state. To liquefy, the natural gas is cooled down to -1640C. This reduction in volume makes LNG ideal for efficient transport and storage. Low LNG temperatures place high demands on plant components and the equipment employed for storage and transport of LNG (such as pipework systems carrying LNG, and tanks storing LNG). These pipes and tanks need to be permanently thermally insulated from adjoining plant components. This warrants cryogenic insulation. Rising LNG demand is expected to boost the global cryogenic insulation market. Growing demand for LNG, especially in Asia, is expected to boost market growth. In 2021, USA led export growth with a year-on-year increase of over 23 million mt. In 2021, China and South Korea led growth in LNG demand.
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Market Segmentation
By type, the market is segmented into:
- PU And PIR
- Cellular Glass
- Polystyrene
- Fiberglass
- Perlite
- Others
By cryogenic equipment, the market is classified into:
- Tanks
- Valves
- Vaporizers
- Pumps
- Others
By end use industry, the market is divided into:
- Energy and Power
- Chemicals
- Metallurgical
- Electronics
- Shipping
- Others
By region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Market
The report presents a detailed analysis of the following key players in the global cryogenic insulation market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Armacell LLC
- Lydall, Inc.
- BASF SE
- Cabot Corporation
- Röchling SE & Co. KG
- Johns Manville
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Cryogenic Equipment |
|
| Breakup by End Use Industry |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cryogenic Insulation Market Analysis
8.1 Key Industry Highlights
8.2 Global Cryogenic Insulation Historical Market (2018-2023)
8.3 Global Cryogenic Insulation Market Forecast (2024-2032)
8.4 Global Cryogenic Insulation Market by Type
8.4.1 PU And PIR
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Cellular Glass
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Polystyrene
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Fiberglass
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Perlite
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Cryogenic Insulation Market by Cryogenic Equipment
8.5.1 Tanks
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Valves
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Vaporizers
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Pumps
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Cryogenic Insulation Market by End Use Industry
8.6.1 Energy and Power
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Chemicals
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Metallurgical
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Electronics
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Shipping
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Cryogenic Insulation Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Cryogenic Insulation Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Cryogenic Insulation Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Cryogenic Insulation Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Cryogenic Insulation Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Cryogenic Insulation Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Armacell LLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Lydall, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 BASF SE
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Cabot Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Röchling SE & Co. KG
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Johns Manville
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cryogenic Insulation Market: Key Industry Highlights, 2018 and 2032
2. Global Cryogenic Insulation Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Cryogenic Insulation Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Cryogenic Insulation Historical Market: Breakup by Cryogenic Equipment (USD Million), 2018-2023
5. Global Cryogenic Insulation Market Forecast: Breakup by Cryogenic Equipment (USD Million), 2024-2032
6. Global Cryogenic Insulation Historical Market: Breakup by End Use Industry (USD Million), 2018-2023
7. Global Cryogenic Insulation Market Forecast: Breakup by End Use Industry (USD Million), 2024-2032
8. Global Cryogenic Insulation Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Cryogenic Insulation Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Cryogenic Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Cryogenic Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Cryogenic Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Cryogenic Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Cryogenic Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Cryogenic Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Cryogenic Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Cryogenic Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Cryogenic Insulation Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Cryogenic Insulation Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Cryogenic Insulation Market Structure
Key Questions Answered in the Report
The global cryogenic insulation market is projected to grow at a CAGR of 7.7% between 2024 and 2032.
The major drivers of the market include the rise in environmental awareness, infrastructural development, industrialisation, increase in investment in energy sector, huge investments in oil and gas industry, and surge in trade of natural gases.
Rising global demand for liquefied natural gas (LNG) and need of insulation in the energy and power and aerospace industries are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various types of cryogenic insulation in the market are PU And PIR, cellular glass, polystyrene, fibreglass, and perlite, among others.
Based on cryogenic equipment, the market is segmented into tanks, valves, vaporizers, and pumps, among others.
The several end-use industries of the market are energy and power, chemicals, metallurgical, electronics, and shipping, among others.
The major players in the industry are Armacell LLC, Lydall, Inc., BASF SE, Cabot Corporation, Röchling SE & Co. KG, and Johns Manville, among others.
Analyst Review
The global cryogenic insulation market was driven by the rising global demand for liquefied natural gas (LNG) in the historical period. Aided by the rise in environmental awareness and increase in investment in energy sector, the market is expected to grow at a CAGR of 7.7% in the forecast period of 2024-2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various types of cryogenic insulation in the market are PU And PIR, cellular glass, polystyrene, fibreglass, and perlite, among others. Based on cryogenic equipment, the market is segmented into tanks, valves, vaporizers, and pumps, among others. The several end-use industries of the market are energy and power, chemicals, metallurgical, electronics, and shipping, among others. The major regional markets for cryogenic insulation are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the market are Armacell LLC, Lydall, Inc., BASF SE, Cabot Corporation, Röchling SE & Co. KG, and Johns Manville, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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