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One of the primary growth drivers for this market is the demand for clean and eco-friendly energy resources. In addition, the increasing LNG demand from several industries globally and rising gas exploration activities in the US will further fuel the growth of the market during the forecast period.
The market is fragmented due to the presence of many players occupying the competitive landscape. The vendors in the market are adopting various organic and inorganic growth strategies to compete in the market. The report identifies Altrad Group, Armacell International SA, BASF SE, Cabot Corp., DUNMORE Corp., Imerys S.A., Johns Manville, Owens Corning, Rochling SE and Co. KG, and Unifrax I LLC as dominant players in the market.
Our full report offers information on the products offered by dominant players, their growth strategies, and other factors influencing the growth of the market.
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Cryogenic Insulation Market: Segment Highlights
- Based on the application, the report segments the cryogenic insulation market by LPG/LNG transport and storage, energy and power, metallurgical, chemicals, and others.
- The market witnessed significant growth in the LPG/CNG transport and storage segment in 2021.
- The increasing shipping of liquified natural gas as cryogenic gas in specialized marine vessels is driving the growth of the segment.
- The research report offers information on several market vendors, including Altrad Group, Armacell International SA, BASF SE, Cabot Corp., DUNMORE Corp., Imerys S.A., Johns Manville, Owens Corning, Rochling SE and Co. KG, and Unifrax I LLC.
Regional Analysis
- 32% of the growth will originate from the North American region.
- The introduction of decarbonization policies by governments in the region will be crucial in driving the growth of the regional market.
- The introduction of natural gas vehicles by major automobile companies such as Volvo, MAN, Ford, and Chevrolet will also drive the growth of the cryogenic insulation market in North America.
- The US and Canada will be the key markets for cryogenic insulation in North America.
- However, the market will witness faster growth in APAC and Europe.
- Countries such as China, Germany, and Brazil are also expected to emerge as major markets for cryogenic insulation.
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Notes:
- The cryogenic insulation market size is expected to accelerate at a CAGR of 6.02% during the forecast period.
- The cryogenic insulation market is segmented by application (LPG/LNG transport and storage, energy and power, metallurgical, chemicals, and others) and geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
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Global Cryogenic Pump Market 2022-2026: The global cryogenic pump market is segmented by type (positive displacement pump and dynamic pump) and geography (APAC, North America, Europe, MEA, and South America).
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Global Cryogenic Tanks Market 2021-2025: The global cryogenic tanks market is segmented by Product (LNG, Nitrogen, and Others) and Geography (APAC, Europe, North America, South America, and MEA).
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Cryogenic Insulation Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.02% |
Market growth 2022-2026 |
USD 665.36 million |
Market structure |
Fragmented |
YoY growth (%) |
5.10 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 32% |
Key consumer countries |
US, China, Germany, Canada, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Altrad Group, Armacell International SA, BASF SE, Cabot Corp., DUNMORE Corp., Imerys S.A., Johns Manville, Owens Corning, Rochling SE and Co. KG, and Unifrax I LLC |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- LPG/LNG transport and storage - Market size and forecast 2021-2026
- Energy and power - Market size and forecast 2021-2026
- Metallurgical - Market size and forecast 2021-2026
- Chemicals - Market size and forecast 2021-2026
- Others - Market size and forecast 2021-2026
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2021-2026
- Europe - Market size and forecast 2021-2026
- APAC - Market size and forecast 2021-2026
- South America - Market size and forecast 2021-2026
- MEA - Market size and forecast 2021-2026
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Altrad Group
- Armacell International SA
- BASF SE
- Cabot Corp.
- DUNMORE Corp.
- Imerys S.A.
- Johns Manville
- Owens Corning
- Rochling SE and Co. KG
- Unifrax I LLC
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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