Tank Insulation Market to Reach $ 5,617.8 Million and Grow at a CAGR 3.90% by 2028 – Global Analysis by Reports and Data
Reports and Data estimates the global Tank Insulation competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2028 as the forecast period. The report offers CAGR and market size for the global Tank Insulation during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Armacell International S.A., Saint-Gobain, Johns Manville, BASF SE, Rockwool International A/S, Owens Corning, Covestro AG, Huntsman Corporation, Dunmore Corporation, and Gilsulate International, Inc. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other
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Tank Insulation Overview :-
High demand and adoption of quality tanks in industries such as food and beverage, power generation, and water treatment is another factor expected to drive growth of the global tank insulation market. Increasing demand for LPG and LNG in various end-use industries, rising industrialization, urbanization, and growing energy sector are expected to drive growth of the global tank insulation market. High demand for tank insulation from industries such as food processing, pharmaceuticals, and chemicals, owing to its features including moisture-resistant, fire-resistant, and heat transfer resistant is also expected to boost demand for tank insulation, thus, driving market growth. Increasing awareness regarding benefits of tank insulation among other end users rapid adoption of biodegradable insulation materials by manufacturers are factors expected to support market growth
Increasing adoption of tank insulation for cryogenic insulation in space sector is expected to drive growth of the global tank insulation market to a significant extent. In February 2019 for instance, technicians at NASA’s Michoud Assembly Facility in New Orleans, have finished the application of thermal protection system in the world’s largest 149-foot-long liquid hydrogen tank for NASA’s space launch system rocket. In addition, increasing demand for safe containments in pharmaceuticals and metal industries is projected to create lucrative revenue opportunities for players operating in the global market.
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For the purpose of this report Reports and Data has segmented global Tank Insulation market on the basis of type, application, and region:
By Material Outlook
- Polyurethane (PU) & Polyisocyanurate (PIR)
- Elastomeric Foam
- Expanded Polystyrene (EPS)
- Cellular Glass
By Temperature Outlook
- Cold Insulation
- Hot Insulation
By End-Use Industry Outlook
- Oil and Gas
- Food and Beverage
- Energy and Power
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Tank Insulation during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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