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Global Cryogenic Insulation Market to reach USD 4 billion by the end of 2030.

Global Cryogenic Insulation Market Size study & Forecast, by Product (Polyurethane (PUR) and Passive Infrared (PIR), Cellular Glass, Polystyrene, Fiberglass, Perlite, Other), by Application (LPG/LNG Transport and Storage, Energy and Power, Metallurgical, Other) and Regional Analysis, 2023-2030

Product Code: CMGMM-56739560
Publish Date: 19-06-2023
Page: 200

Global Cryogenic Insulation Market is valued at approximately USD 2.4 billion in 2022 and is anticipated to grow with a compounded annual growth rate of more than 6.5% over the forecast period 2023-2030. Cryogenic insulation materials are specifically designed to have low, thermal conductivity, meaning they are poor conductors of heat. Commonly used insulation materials in cryogenic includes foams, powders, multilayer insulation (MLI) and vacuum insulation panels (VIP). These materials, trapped air or gas pockets within their structure, which hinders the transfer of heat by conduction or convection. However, the increasing use of LNG gas and advancement in energy storage emerge as to be the growth drivers for Global Cryogenic Insulation Market.

According to the International Group of Liquefied Natural Gas Importers (GIIGNL) in 2021, the Global liquefied natural gas LNG trade went up to an average of 49 billion cubic feet per day. This represents a year-on-year increase of two 2.2 billion cubic feet per day which is 4.5% compared to 2020. According to the US Department of Energy in 2020, the global energy storage market for stationary and transportation purposes is expected to increase fourfold by 2030, reaching over 2500 gigawatt-hours (GWH). This growth is mainly driven by the adaptation of electric vehicles (EVs) and if 30% of vehicle sales consist of EVs, the market could reach up to 4 terawatt-hours (TWh). Transportation storage deployment is 2-10 times higher than stationary storage, depending on the assumptions made for the transportation department. However, Safety and Environmental Concerns and Limited material Options may hamper the growth of the Global Cryogenic insulation Market. Moreover, the increasing use of electric vehicles and government initiatives towards renewable energy are anticipated to be growth opportunities in the market.

The key regions considered for the Global Cryogenic Insulation Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America region has the market dominance because of the increasing gas exploration and production as well as the prominent inclination towards the environmental safety such factors contribute to dominating the Global Cryogenic Insulation Market. Asia Pacific region emerges as to be the fastest growing region because of the rapidly growing population and continuously increasing demand for sustainable and renewable energy also Asia pacific region come out as a large customer base for electric vehicles which contributes to the growth of the Global Cryogenic Insulation Market.

Major market player included in this report are:
Aspen Aerogels Inc.
Kaefer SE and Co.KG
Armacell Enterprise GmbH & Co.
Lydall Inc.
Cabot Corporation.
Röchling SE & Co. KG
Industrial Dielectrics Holdings Inc.
Nichias Industrial Products Pvt. Ltd.

Recent Developments in the Market:
Ø In February 2019, Cryogenic experts Inc, a company specializing in the manufacturing and design of the prices and accessories, has been acquired by Acme cryogenics Inc. Acme Cryogenics is engaged in the supply of a wide range of cryogenic products, including insulation to various industries.
Ø In August 2020, Armacell Enterprise GmbH & Co., a prominent player in the field of energy efficiency, unveiled an innovative product ArmaGel DT, an advanced flexible aerogel blanket designed specifically for dual-temperature and cryogenic applications.
Global Cryogenic Insulation Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Polyurethane (PUR) and Passive Infrared (PIR)
Cellular Glass

By Application:
LPG/LNG Transport and Storage
Energy and Power

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Cryogenic Insulation Market, by Region, 2020-2030 (USD Billion)
1.2.2. Cryogenic Insulation Market, by Product, 2020-2030 (USD Billion)
1.2.3. Cryogenic Insulation Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cryogenic Insulation Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cryogenic Insulation Market Dynamics
3.1. Cryogenic Insulation Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing use of LNG Gas Advancement in Energy storge
3.1.2. Market Challenges Safety and Environmental Concern Limited Material Options
3.1.3. Market Opportunities Increasing Use of Electric Vehicles Government Initiatives Towards Renewable Energy
Chapter 4. Global Cryogenic Insulation Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Cryogenic Insulation Market, by Product
5.1. Market Snapshot
5.2. Global Cryogenic Insulation Market by Product, Performance – Potential Analysis
5.3. Global Cryogenic Insulation Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Cryogenic Insulation Market, Sub Segment Analysis
5.4.1. Polyurethane (PUR) and Passive Infrared (PIR)
5.4.2. Cellular Glass
5.4.3. Polystyrene
5.4.4. Fiberglass
5.4.5. Perlite
5.4.6. Other
Chapter 6. Global Cryogenic Insulation Market, by Application
6.1. Market Snapshot
6.2. Global Cryogenic Insulation Market by Application, Performance – Potential Analysis
6.3. Global Cryogenic Insulation Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Cryogenic Insulation Market, Sub Segment Analysis
6.4.1. LPG/LNG Transport and Storage
6.4.2. Energy and Power
6.4.3. Metallurgical
6.4.4. Other
Chapter 7. Global Cryogenic Insulation Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Cryogenic Insulation Market, Regional Market Snapshot
7.4. North America Cryogenic Insulation Market
7.4.1. U.S. Cryogenic Insulation Market Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Cryogenic Insulation Market
7.5. Europe Cryogenic Insulation Market Snapshot
7.5.1. U.K. Cryogenic Insulation Market
7.5.2. Germany Cryogenic Insulation Market
7.5.3. France Cryogenic Insulation Market
7.5.4. Spain Cryogenic Insulation Market
7.5.5. Italy Cryogenic Insulation Market
7.5.6. Rest of Europe Cryogenic Insulation Market
7.6. Asia-Pacific Cryogenic Insulation Market Snapshot
7.6.1. China Cryogenic Insulation Market
7.6.2. India Cryogenic Insulation Market
7.6.3. Japan Cryogenic Insulation Market
7.6.4. Australia Cryogenic Insulation Market
7.6.5. South Korea Cryogenic Insulation Market
7.6.6. Rest of Asia Pacific Cryogenic Insulation Market
7.7. Latin America Cryogenic Insulation Market Snapshot
7.7.1. Brazil Cryogenic Insulation Market
7.7.2. Mexico Cryogenic Insulation Market
7.8. Middle East & Africa Cryogenic Insulation Market
7.8.1. Saudi Arabia Cryogenic Insulation Market
7.8.2. South Africa Cryogenic Insulation Market
7.8.3. Rest of Middle East & Africa Cryogenic Insulation Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Aspen Aerogels Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Kaefer SE and Co.KG
8.3.3. Armacell Enterprise GmbH & Co.
8.3.4. Lydall Inc.
8.3.5. Cabot Corporation.
8.3.6. DUNMORE
8.3.7. Owens-Corning
8.3.8. Röchling SE & Co. KG
8.3.9. Industrial Dielectrics Holdings Inc.
8.3.10. Nichias Industrial Products Pvt. Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
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Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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