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Global Cryogenic Insulation Market Insights 2025, Forecast To 2034

5 Mar, 2025

What Does the Historical and Current Cryogenic Insulation Market Size Trend Indicate?

The cryogenic insulation market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the size of the cryogenic insulation market in the preceding years. It is predicted to escalate from $7.06 billion in 2024 to $7.54 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.8%. This appreciable growth in the historical period is largely due to the emphasis on sustainability, advancements in aerospace and defense, and applications in the medical and healthcare sectors.

How Will the Cryogenic Insulation Market?

The Cryogenic Insulation market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the cryogenic insulation market is set to experience significant expansion, and it is expected to reach a value of $10.18 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.8%.
This anticipated growth during the projection period is attributed to the rising demand in the LNG industry, the expansion in the industrial gas sector, the increase of LNG infrastructure, and applications in the medical, healthcare, and energy storage solutions sectors. Future trends anticipated to drive growth during this same period include space exploration initiatives, the electronics and semiconductor industry, robust investment in infrastructure, and the persistence of research and development efforts.

Which Factors Are Boosting Growth In The Cryogenic Insulation Market?

The growth of the cryogenic insulation market is projected to be driven by a surge in the demand for LNG. Liquid natural gas, or LNG, is just natural gas that has been cooled to a liquid form, approximately -260° Fahrenheit, for the purposes of storage and transportation. The use of LNG is tied to a significant rise in the utilization of cryogenic insulation as it fosters a sustainable, accessible, and affordable clean energy future. It plays a key role in eliminating poverty, reducing global energy scarcity, enhancing local economies, mitigating environmental risks, and promoting access to steady and modern power sources. As per the International Gas Union, a non-profit institution based in the UK, the global LNG trade expanded by 5% in 2022 from 2021, in the aftermath of a solid post-pandemic rebound. This was principally propelled by the escalating demand in Europe, which spiked by 66% as the area aimed to compensate for the dwindling Russian gas pipeline volumes. The continent imported 126.6 million tonnes of LNG in 2022, making it the world's second-largest LNG importer. Hence, the escalating demand for LNG is boosting the cryogenic insulation market.

What Key Areas Define The Segmentation Of The Global Cryogenic Insulation Market?

The cryogenic insulation market covered in this report is segmented –
1) By Type: Cellular, Fibrous, Flake, Granular, Reflective, Other Types
2) By Application: Storage Tanks, Fuel Tanks, Pipe Systems, Terminals, Other Applications
3) By End-Use Industry: Energy And Power, Food And Beverages, Chemical, Medical, Other End-Use Industries Subsegments:
1) By Cellular: Polyurethane Foam, Polyisocyanurate Foam, Expanded Polystyrene (EPS)
2) By Fibrous: Mineral Wool, Glass Wool, Ceramic Fiber
3) By Flake: Expanded Perlite, Expanded Clay
4) By Granular: Vermiculite, Expanded Polystyrene Granules
5) By Reflective: Reflective Foil Insulation, Radiant Barrier Systems
6) By Other Types: Aerogel, Vacuum Insulated Panels (VIPs)

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How Are Emerging Trends Reshaping The Dynamics Of The Cryogenic Insulation Market?

A significant trend emerging in the cryogenic insulation market is the creation of cryogenic insulation systems. The finely distributed structure and high air absorption capability of cryogenic insulation lend it optimal for handling low temperatures. The material's apparent specific heat rises due to the heat that adsorption releases. As an illustration, in April 2022, BASF, a company in Germany that specializes in producing chemicals, introduced its own cryogenic insulation system. BASF employed its trademarked Elastopor Cryo (Elastopor) technology (LNG) to develop a cryogenic insulation system, which could potentially be used for transporting cryogenic liquid goods, like Liquefied Natural Gas and chemical multinationals. The Elastopor technique from BASF ensures substantial insulation for vessels, even in turbulent waters, and maintains the low-temperature condition of liquid cargo during transportation.

Who Are the Key Players In The Cryogenic Insulation Market?

Major companies operating in the cryogenic insulation market include:
• Aspen Aerogels Inc.
• BASF SE
• Armacell Enterprise GmbH & Co. KG
• Lydall Inc.
• Cabot Corporation
• Röchling SE & Co. KG
• Kaefer SA
• Dunmore Holdings Ltd.
• Owens Corning
• Johns Manville Inc.
• Hertel Holding BV
• Evonik Industries AG
• Huntsman Corporation
• Amol Dicalite Limited
• Imerys SA
• ISOVER Company
• Air Liquide SA
• Air Products and Chemicals Inc.
• Cryofab Inc.
• Cryomagnetics Inc.
• Cryomech Inc.
• Cryostar SAS
• Cryotherm GmbH & Co. KG
• DUNA-USA Inc.
• GTS-Welco
• Insul-Therm International Inc.
• Isolation Technologies LLC
• Janis Research Company LLC
• MLI Insulation Systems
• Chart Industries Inc.
• Advanced Insulation Systems Ltd.
• Insultherm Inc.
• Thermal Energy Products Inc.

What Is The Most Dominant Region In The Cryogenic Insulation Market?

Asia-Pacific was the largest region in the cryogenic insulation market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cryogenic insulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.