Chemicals and Materials Cryogenic Insulation Market New | Page 2

The tank segment accounts for the largest share of the overall market.
On the basis of cryogenic equipment, the cryogenic insulation market has been segmented
into tanks, valves, vaporizers, pump, and others. The tank segment is expected to account
for the largest share of the cryogenic insulation market during the forecast period. The
dominance of the tank segment is expected to continue during the forecast period due to its
increasing demand from end-use industries such as energy & power for the storage and
transportation of LNG.
The energy & power segment is projected to be the fastest-growing end-use industry
of cryogenic insulation during the forecast period.
On the basis of end-use industry, the cryogenic insulation market has been segmented into
energy & power, chemicals, metallurgical, electronics, shipping, and others. The energy &
power segment is estimated to be the largest end-use industry of the cryogenic insulation
market, in terms of value, during the forecast period. The demand for cryogenic insulation
in the industry is expected to increase as a result of increasing demand for LNG as fuel.
APAC is expected to account for the largest share of the cryogenic insulation market
during the forecast period.
The APAC cryogenic insulation market accounted for the largest share in the global market.
The market in the region is driven by the high demand from rapidly growing end-use
industries such as energy & power. Rising demand for LNG, increasing investment in the
energy sector, urbanization, industrialization, and infrastructural development are
expected to drive the cryogenic insulation market during the forecast period.
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The key market players profiled in the report include Armacell International Holding
GmbH (Germany), Lydall Inc. (US), BASF SE (Germany), Cabot Corporation (US), Rochling
Group (Germany), and Johns Manville Inc. (US).
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