Cryogenic Insulation Market Research Report - Global Forecast till 2027

Global Cryogenic   Insulation Market: Information by Material Type (PU/PIR, Polystyrene, Cellular Glass, and Others), End-Use Industry (Energy & Power, Food & Beverages, Chemical, Medical and others) and Region (Asia-Pacific, Europe, North America, Latin America and the Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/7022-HCR | February 2021 | Region: Global | 140 pages

Please note that the assessment period of report has been updated from 2017-2025 to 2020-2027. Cordially fill Sample form for the updated data.

Market Summary


Cryogenic Insulation Market is estimated to record a CAGR of 7.2% during the forecast period and is estimated to reach a value of USD 3.7 Billion by 2025.


Cryogenic insulation are high-performance materials used to reduce the energy leaks and to provide a high level of thermal isolation for applications operating below −75°C. Cryogenic insulation is widely used in the storage (cryogenic tanks) and transportation of cryogenic gases such as liquid natural gas (LNG), liquid nitrogen, LPG, and ethylene. Cryogenic insulation is provided for an efficient transportation and safe storage of these gases. An array of insulation materials including polyurethane, polyisocyanurate, expanded foams, cellular glass, fiberglass, and polystyrene are used for cryogenic insulation applications. Some of the trade names for cryogenic insulation are Durolight, Armaflex, CRYO-SHIELD, FOAMNERT Board-TN, FOAMGLAS, NP500CR, and Cryogel.


With the increasing application of cryogenic refrigeration in the food & beverage, transportation, medical, and energy industries, the demand for cryogenic insulation is set to witness significant growth during the forecast period. Additionally, the growth of the global cryogenic insulation market is driven by increasing demand for LNG across developed as well as developing countries. The increasing investments in the development of LNG pipeline infrastructure, particularly in developing countries such as China, is expected to fuel the demand for cryogenic insulation for the efficient operation of the LNG value chain.


Moreover, one of the key trends observed in the global cryogenic insulation market is increasing investments in the development of innovative and high-performance materials. Some of the newly developed materials include aerogel (Pyrogel, Cryogel, and Nanogel), Inspec Foams (SOLIMIDE), and polyimide foams (SOLREX).


Pricing Analysis and Regulatory Framework:


The price of cryogenic insulation varies based on material type, i.e., polyisocyanurate, polyurethane, expanded foams, fiberglass cellular glass, polystyrene, and aerogel. The fiberglass is one of the least expensive and aerogel is the most expensive material. The price of cryogenic insulation varies from USD 1,500 per ton to USD 13,800 per ton.


There is no globally harmonized standard for thermal data for cryogenic insulation materials, or standard test methods or instrumentation exist. However, market participants generally follow the ASTM International standards for designing and testing cryogenic insulation materials and systems.


Market Drivers



  • Increasing demand for LNG as a fuel across developed and developing

  • Growing significance of cryogenic insulation across the food & beverage and medical industries


Market Restraints



  • Volatile raw material prices


Segmentation


By Material Type



  • PU/PIR: Polyurethane (PU) and polyisocyanurate (PIR) foam are lightweight polymers with superior insulating properties and can be used for the insulating cold-temperature applications down to –180°C. The segment accounted for the largest value share in 2018, which is mainly attributed to low thermal conductivity, moisture resistance, fire resistance, and structural performance.



  • Polystyrene: Polystyrene insulation is generally preferred in the areas of high moisture exposure and high R-value requirements.



  • Cellular Glass: Cellular glass is a noncombustible, high water & vapor resistant, and high strength insulation material used for cold-temperature insulation application down to −268°C.



  • Others: The other segment includes perlite, fiberglass, aerogel, and elastomer foams. The segment is expected to witness high growth on the account of increasing demand for high-performance materials, i.e., aerogel.


By End-Use Industry



  • Energy & Power: Energy & power is expected to be the largest and fastest-growing segment of the global cryogenic insulation market. The high growth is attributed to the increasing demand for LNG across the globe.



  • Food & Beverage: The increasing demand for cryogenic freezing, chilling, and cooling systems in the food & beverage industry is expected to drive the demand for cryogenic insulation materials.



  • Medical: The increasing use of cryogenic cooling in diagnostic techniques, and drugs & blood preservations is driving the demand for cryogenic insulation.



  • Chemical: Cryogenic insulation is used for insulating storage tanks and transportation and handling of industrial gases such as methane, oxygen, nitrogen, and hydrogen.



  • Others: The others segment includes the electronics industry, and space applications and other niche applications


By Region



  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa


Regional Analysis



  • Asia-Pacific accounted for the largest share of the global market. The regional market is expected to witness robust growth during the forecast period driven by the increasing investment in the energy & power and food & beverage industries. Furthermore, rapid industrialization and increasing demand for LNG are factors expected to drive the growth of the regional market. China, India, Japan, and Indonesia are expected to contribute significantly toward the growth of the market.



  • Europe is expected to be the second-largest market for cryogenic insulation during the forecast period. The growth of the market in the region is led by Germany, Russia, the UK, and France.



  • North America is expected to witness significant growth primarily driven by increasing demand for LNG in the US. Furthermore, the increasing spending on healthcare in the US is expected to support regional market growth.



  • Latin America: The growth of the Latin American market is driven by the healthy growth of the end-use industries in Brazil, Mexico, and Argentina.



  • Middle East & Africa: The growth of the market in the region is likely to be driven by the growth of the energy & power sector.


Key Players



  • KAEFER (Germany)

  • Cabot Corporation (US) – Nanogel

  • BASF SE (Germany)

  • Lydall, Inc (US)

  • Armacell Enterprise GmbH & Co. KG (Germany) – Armaflex

  • Owens Corning (US) – FOAMGLAS

  • Aspen Aerogels (US) – Pyrogel, Cryogel

  • Röchling (France) – Durolight

  • DUNMORE (US) – CRYO-SHIELD Multilayer

  • NICHIAS Corporation (Japan) – FOAMNERT Board-TN

  • Norplex Micarta (US) – NP500CR



Frequently Asked Questions (FAQ) :


Cryogenic Insulation Market is expected to reach a valuation of USD 3.7 billion by 2025

Cryogenic Insulation Market is expected to exhibit a strong 7.2% CAGR over the forecast period from 2019 to 2025.

The growing demand for Cryogenic Insulation from the food and beverage, automotive, medical, and energy industries is the major driver for the market

Asia Pacific accounts for the largest share in the Global Cryogenic Insulation Market.

Leading players in the Cryogenic Insulation Market include KAEFER, Lydall, and BASF, among others.

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 List of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Factor Analysis

4.1 Supply Chain Analysis

4.1.1 Raw Material Suppliers

4.1.2 Manufacturers/Producers of Cryogenic Insulation

4.1.3 Distributors/Retailers/Wholesalers/E-Commerce Merchants

4.1.4 End-Use Industries

4.2 Porter’s Five Forces Model

4.2.1 Threat of New Entrants

4.2.2 Intensity of Competitive Rivalry

4.2.3 Threat of Substitutes

4.2.4 Bargaining Power of Suppliers

4.2.5 Bargaining Power of Buyers

4.3 Pricing Analysis

5 Market Dynamics of Global Cryogenic Insulation Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges


Global Cryogenic Insulation Market, by Material Type


6.1 Introduction

6.2 PU/PIR

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast, by Region, 2020-2027

6.3 Polystyrene

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast, by Region, 2020-2027

6.4 Cellular Glass

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast, by Region, 2020-2027

6.5 Others

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast, by Region, 2020-2027


Global Cryogenic Insulation Market, by End-Use Industry


7.1 Introduction

7.2 Energy & Power

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.3 Food & Beverages

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Medical

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Chemical

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.6 Others

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast, by Region, 2020-2027


Global Cryogenic Insulation Market, by Region


8.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.2.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.2.4 US

9.2.4.1 Market Estimates & Forecast, 2020-2027

9.2.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.2.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.2.5 Canada

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.2.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.4 Germany

9.3.4.1 Market Estimates & Forecast, 2020-2027

9.3.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.5. France

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.6 Italy

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.8 UK

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.9 Russia

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.9.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.3.10 Poland

9.3.10.1 Market Estimates & Forecast, 2020-2027

9.3.10.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.3.10.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4 Asia-Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.5 India

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.6 Japan

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.7 Australia

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.8 New Zealand

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.4.9 Rest of Asia-Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.4.9.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5 Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5.4 Turkey

9.5.4.1 Market Estimates & Forecast, 2020-2027

9.5.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5.5 Israel

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5.6 South Africa

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5.7 GCC

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.5.8 Rest of the Middle East & Africa

9.5.8.1 Market Estimates & Forecast, 2020-2027

9.5.8.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.5.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.6.4 Brazil

9.6.4.1 Market Estimates & Forecast, 2020-2027

9.6.4.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.6.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.6.5 Argentina

9.6.5.1 Market Estimates & Forecast, 2020-2027

9.6.5.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.6.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.6.6 Mexico

9.6.6.1 Market Estimates & Forecast, 2020-2027

9.6.6.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.6.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9.6.7 Rest of Latin America

9.6.7.1 Market Estimates & Forecast, 2020-2027

9.6.7.2 Market Estimates & Forecast, by Material Type, 2020-2027

9.6.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027


Competitive Landscape


9.1 Introduction

9.2 Market Key Strategies

9.3 Key Development Analysis

(Expansions/Mergers & Acquisitions/Joint Ventures/New Product Developments/Agreements/Investments)


Company Profiles


10.1 KAEFER

10.1.1 Company Overview

10.1.2 Financial Overview

10.1.3 Products Offered

10.1.4 Key Developments

10.1.5 SWOT Analysis

10.1.6 Key Strategies

10.2 Cabot Corporation

10.2.1 Company Overview

10.2.2 Financial Overview

10.2.3 Products Offered

10.2.4 Key Developments

10.2.5 SWOT Analysis

10.2.6 Key Strategies

10.3 BASF SE

10.3.1 Company Overview

10.3.2 Financial Overview

10.3.3 Products Offered

10.3.4 Key Developments

10.3.5 SWOT Analysis

10.3.6 Key Strategies

10.4 Lydall, Inc

10.4.1 Company Overview

10.4.2 Financial Overview

10.4.3 Products Offered

10.4.4 Key Developments

10.4.5 SWOT Analysis

10.4.6 Key Strategies

10.5 Armacell Enterprise GmbH & Co. KG

10.5.1 Company Overview

10.5.2 Financial Overview

10.5.3 Products Offered

10.5.4 Key Developments

10.5.5 SWOT Analysis

10.5.6 Key Strategies

10.6 Owens Corning

10.6.1 Company Overview

10.6.2 Financial Overview

10.6.3 Products Offered

10.6.4 Key Developments

10.6.5 SWOT Analysis

10.6.6 Key Strategies

10.7 Aspen Aerogels

10.7.1 Company Overview

10.7.2 Financial Overview

10.7.3 Products Offered

10.7.4 Key Developments

10.7.5 SWOT Analysis

10.7.6 Key Strategies

10.8 Röchling

10.8.1 Company Overview

10.8.2 Financial Overview

10.8.3 Products Offered

10.8.4 Key Developments

10.8.5 SWOT Analysis

10.8.6 Key Strategies

10.9 DUNMORE

10.9.1 Company Overview

10.9.2 Financial Overview

10.9.3 Products Offered

10.9.4 Key Developments

10.9.5 SWOT Analysis

10.9.6 Key Strategies

10.10 NICHIAS Corporation

10.10.1 Company Overview

10.10.2 Financial Overview

10.10.3 Products Offered

10.10.4 Key Developments

10.10.5 SWOT Analysis

10.10.6 Key Strategies

10.11 Norplex Micarta

10.11.1 Company Overview

10.11.2 Financial Overview

10.11.3 Products Offered

10.11.4 Key Developments

10.11.5 SWOT Analysis

10.11.6 Key Strategies


Appendix



LIST OF TABLES


Table 1 Global Cryogenic Insulation Market, by Region, 2020-2027

Table 2 North America: Cryogenic Insulation Market, by Country, 2020-2027

Table 3 Europe: Cryogenic Insulation Market, by Country, 2020-2027

Table 4 Asia-Pacific: Cryogenic Insulation Market, by Country, 2020-2027

Table 5 Middle East & Africa: Cryogenic Insulation Market, by Country, 2020-2027

Table 6 Latin America: Cryogenic Insulation Market, by Country, 2020-2027

Table 7 Global Cryogenic Insulation Material Type Market, by Region, 2020-2027

Table 8 North America: Cryogenic Insulation Material Type Market, by Country, 2020-2027

Table 9 Europe: Cryogenic Insulation Material Type Market, by Country, 2020-2027

Table 10 Asia-Pacific: Cryogenic Insulation Material Type Market, by Country, 2020-2027

Table 11 Middle East & Africa: Cryogenic Insulation Material Type Market, by Country, 2020-2027

Table 12 Latin America: Cryogenic Insulation Material Type Market, by Country, 2020-2027

Table 13 Global Cryogenic Insulation End-Use Industry Market, by Region, 2020-2027

Table 14 North America: Cryogenic Insulation End-Use Industry Market, by Country, 2020-2027

Table 15 Europe: Cryogenic Insulation End-Use Industry Market, by Country, 2020-2027

Table 16 Asia-Pacific: Cryogenic Insulation End-Use Industry Market, by Country, 2020-2027

Table 17 Middle East & Africa: Cryogenic Insulation End-Use Industry Market, by Country, 2020-2027

Table 18 Latin America: Cryogenic Insulation End-Use Industry Market, by Country, 2020-2027

Table 19 Global Material Type Market, by Region, 2020-2027

Table 20 Global End-Use Industry Market, by Region, 2020-2027

Table 21 North America: Cryogenic Insulation Market, by Country, 2020-2027

Table 22 North America: Cryogenic Insulation Market, by Material Type, 2020-2027

Table 23 North America: Cryogenic Insulation Market, by End-Use Industry, 2020-2027

Table 24 Europe: Cryogenic Insulation Market, by Country, 2020-2027

Table 25 Europe: Cryogenic Insulation Market, by Material Type, 2020-2027

Table 26 Europe: Cryogenic Insulation Market, by End-Use Industry, 2020-2027

Table 27 Asia-Pacific: Cryogenic Insulation Market, by Country, 2020-2027

Table 28 Asia-Pacific: Cryogenic Insulation Market, by Material Type, 2020-2027

Table 29 Asia-Pacific: Cryogenic Insulation Market, by End-Use Industry, 2020-2027

Table 30 Middle East & Africa: Cryogenic Insulation Market, by Country, 2020-2027

Table 31 Middle East & Africa: Cryogenic Insulation Market, by Material Type, 2020-2027

Table 32 Middle East & Africa: Cryogenic Insulation Market, by End-Use Industry, 2020-2027

Table 33 Latin America: Cryogenic Insulation Market, by Country, 2020-2027

Table 34 Latin America: Cryogenic Insulation Market, by Material Type, 2020-2027

Table 35 Latin America: Cryogenic Insulation Market, by End-Use Industry, 2020-2027


LIST OF FIGURES


FIGURE 1 Global Cryogenic Insulation Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Cryogenic Insulation Market

FIGURE 4 Value Chain/Supply Chain of Global Cryogenic Insulation Market

FIGURE 5 Share of Global Cryogenic Insulation Market, by Country, 2020 (%)

FIGURE 6 Global Cryogenic Insulation Market, 2020-2027

FIGURE 7 Global Cryogenic Insulation Market Size, by Material Type, 2020 (%)

FIGURE 8 Share of Global Cryogenic Insulation Market, by Material Type, 2020-2027

FIGURE 9 Global Cryogenic Insulation Market Size, by End-Use Industry, 2020 (%)

FIGURE 10 Share of Global Cryogenic Insulation Market, by End-Use Industry, 2020-2027