Cryogenic Insulation Market To Grow Briskly And Reach $6.80 Billion By 2032

According to the report published by Zion Market Research, global Cryogenic Insulation market was valued at approximately USD 3.67 Billion in 2023 and is projected to hit USD 6.80 Billion by 2032, with a compound annual growth rate (CAGR) of 7.1% during the forecast period 2024-2032. The global market for cryogenic insulation is majorly boosted by the increasing requirement for LNG as fuel in developing and developed nations. Increasing environmental awareness is also adding to the development of the global market.

Increasing requirement for cryogenic techs in space applications has generated different growth avenues cryogenic insulation makers. Asia Pacific is the major market for cryogenic insulations, all over the world, followed by North America and Europe. One of the major boosters of the global market is the rising requirement for storage, transportation, and liquefaction of LNG from natural gas in these areas.

Major players active in the global market are Lydall Inc., Armacell International Holding GmbH, Cabot Corporation, BASF SE, Johns Manville Inc., and Rochling Group.

PU & PIR Category Predicted To Be The Biggest Contributor During The Forecast Period In The Global Cryogenic Insulation Market

Based on type, the global market for cryogenic insulation has been divided into ceramic, cellular glass, PU & PIR, fiberglass, polystyrene, plastic, perlite, metal, rubber, and others. The PU & PIR category is predicted to top the market for cryogenic insulation in terms of value between 2019 and 2025. The higher requirement for PU & PIR is majorly credited to their widespread applications and properties. PU & PIR foam is fire & moisture resistant, is lightweight, offers better structural performance, and has low density & thermal conductivity. These characteristics allow their employment in cryogenic cases. They are employed in different applications such as coolers, cold storage building, tank & pipe insulation, freezers, and household refrigerators.

Asia Pacific Predicted To Add Up For The Biggest Share During The Forecast Period In The Cryogenic Insulation Market

The cryogenic insulation market in Asia Pacific added for the biggest share in the global market. The market in the area is boosted by the high requirement from rapidly developing end-use sector such as power & energy. Increasing requirement for LNG, rising spending in the energy industry, industrialization, urbanization, and infrastructural growth are predicted to power the market for cryogenic insulation in the years to come.

Browse the full “Cryogenic Insulation Market - by Type (PU & PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite, and Others), Cryogenic Equipment (Tank, Pumps, Vaporizers, Valve, and Others), Form (Bulk-fill, Foam, and Multi-layer), and Application (Energy & Power, Chemicals, Metallurgical, Electronics, and Shipping): Global Industry Perspective, Comprehensive Analysis and Forecast 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/cryogenic-insulation-market

The global cryogenic insulation market is segmented as follows:

By Type

• PU & PIR
• Cellular Glass
• Polystyrene
• Fiberglass
• Perlite
• Others (aerogel, elastomer foams)

By Form

• Bulk-fill
• Foam
• Multi-layer

By Cryogenic Equipment

• Tanks
• Valves
• Vaporizers
• Pumps
• Others (dewar vessels, tunnel freezers, gauges, and flanges, among others)

By End-Use Industry

• Energy & Power
• Chemicals
• Metallurgical
• Electronics
• Shipping
• Others (food & beverage, healthcare, transportation of perishable items, and space applications, among others)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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