Tank Insulation Market Share, Size, Growth, Trends, Material Type, Temperature, End-use, Forecast Report, 2021-2031

Allied Market Research published a new report, titled, "Tank Insulation Market by Material Type (Polyurethane, Fiberglass, Rockwool, Elastomeric Foam, Expanded Polystyrene, Others), by Temperature (Cold Insulation, Hot Insulation), by End-use (Chemical, Oil and Gas, Food and Beverages, Energy and Power, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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According to the report published by Allied Market Research, the global tank insulation market generated $5.3 billion in 2021, and is expected to reach $9.0 billion by 2031, witnessing a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, key segments, competitive landscape, regional scenario, and value chain. This research offers insights on current market size and estimations for leading players, shareholders, investors, and startups to help them devise strategies for sustainable growth and competitive advantage in the market.

Based on region, Asia-Pacific held the largest share in 2021, accounting for more than one-third of the total market share. In addition, this region is projected to continue its dominance in terms of revenue by 2031. The same region is expected to manifest the fastest CAGR of 5.9% during the forecast period. The research also analyzes regions including North America and LAMEA.

Based on end use, the oil and gas segment accounted for the highest share in 2021, holding around one-third of the global tank insulation market, and will maintain its dominance during the forecast period. However, the chemical segment is estimated to grow at the highest CAGR of 6.0% during the forecast period. The research also discusses segments including food and beverages, energy and power, and others.

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Based on material type, the polyurethane segment held the highest share in 2021, accounting for nearly one-third of the total share, and is expected to continue its leadership status during the forecast period. However, the rockwool segment is expected to register the highest CAGR of 5.9% from 2022 to 2031. The report also analyzes the segments including fiberglass, elastomeric foam, expanded polystyrene, and others.

Based on temperature, the hot Insulation segment accounted for the highest share in 2021, contributing to nearly three-fifths of the total share, and is expected to maintain its lead throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 5.6% from 2022 to 2031. The report also analyzes the cold insulation segment.

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The report offers an extensive analysis of leading market players of the global tank insulation market. These players include ROCKWOOL A/S, Armacell, BASF SE, Gilsulate, Arch Tech, Kingspan, Johns Manville, Isolatie Combinatie, Omkar PUF, and Cabot.

The report provides a detailed analysis of aforementioned leading players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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