Global Tank Insulation Market Top Factors Responsible for the Rapid Growth in the Coming Years 2031

Global Tank Insulation Market is expected to reach at a CAGR of 5.3% in the forecast period of 2019 to 2026. The market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026

In order to be able to fulfill rising demand, the chemical industry invests billions of dollars each year in new and sustaining capital. Chemicals and materials are omnipresent in contemporary life, therefore major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability.

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COVID-19 Impact

In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.

The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.

Market Segmentation
By Type (Storage, Transportation), Material Type (Expanded Polystyrene (EPS), Rockwool, Cellular Glass, Fiberglass, Elastomeric Foam, Polyurethane (PU), Others), Temperature (Hot Insulation, Cold Insulation), Tank Type (Vertical Tank, Horizontal Tank, Fixed Tank, Mounted Tank), Tank Ends (Parabolic Dish, Flat), End-User (Oil & Gas, Energy and Power, Chemical, Food and Beverages, Water Purification, Wastewater Purification, Others), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa)

Major growing sectors under the market segmentation are as follows:

> In type, the storage segment is growing at the highest CAGR since the demand for storing oil & gas, chemicals, food, beverages and others is more rather than its transportation

> In material type, the polyurethane segment is growing at the highest CAGR since polyurethane has important properties i.e. it is easily available, light-weighted, low density, low thermal conductivity, is moisture & fire resistant

> In temperature, the cold Insulation segment is growing at the highest CAGR since they are moisture resistant with minimum heat loss

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> In tank type, the vertical tank segment is growing at the highest CAGR since the storage process in vertical tanks is more appropriate rather than any other tank type

> In tank ends, the parabolic dish segment is growing at the highest CAGR since it helps in maintaining the temperature from low to medium and high as per the requirement

> In end-user, the oil & gas segment is growing at the highest CAGR due to the increase in industrialization sectors because of rise in demand for LNG and increased investments in the oil & gas sectors

Key Market Players

The key market players for global tank insulation market are listed below:

> The Dow Chemical Company
> Saint-Gobain
> Huntsman International LLC
> Kingspan Group
> ARMACELL LLC
> Cabot Corporation
> Corrosion Resistant Technologies, Inc.
> DUNMORE
> GILSULATE INTERNATIONAL, INC.
> Gulf Cool Therm Factory LTD
> ITW INSULATION SYSTEMS
> J.H. Ziegler GmbH
> Knauf Insulation
> Mayes Coatings & Insulation, Inc.
> Johns Manville
> PolarClad Tank Insulation
> Rochling Group
> ROCKWOOL International A/S
> SPX Transformer Solutions Inc.
> Synavax
> Thermacon
> T.F.WARREN GROUP

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

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