Tank Insulation Market Size to hit $9.0 Billion by 2031, driven by rising adoption across commercial, oil & gas, and chemical industry

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.

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The research provides detailed segmentation of the global tank insulation market based on material type, temperature, end use, and region. The report analyzes segments and their sub-segments with the help of tabular and graphical formats. Market players, investors, and stakeholders can devise strategies for business growth as per highest revenue-generating and fastest-growing segments mentioned in the report.

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.

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 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.

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.

Full Report Summary:
https://www.alliedmarketresearch.com/tank-insulation-market-A17429

By Material Type
Polyurethane
Fiberglass
Rockwool
Elastomeric Foam
Expanded Polystyrene
Others
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By Temperature
Cold Insulation
Hot Insulation
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By End-use
Chemical
Oil and Gas
Food and Beverages
Energy and Power
Others

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