Pune, Oct. 13, 2020 (GLOBE NEWSWIRE) — The global cryogenic insulation market is projected to gain impetus from the expansion of chemical and fertilizer industry. This information is published by Fortune Business Insights in an upcoming report, titled, “Cryogenic Insulation Market Size, Share and Global Trend By Form (Foam, Multilayer, Bulk Fill), By Type (Fiberglass, Cellular Glass, Perlite Insulation, Polyurethane, Polyisocyanurate, Others), By End-Use Industry (Oil and Gas, Chemical and Fertilizer, Food and Beverage, Transportation, Electronics, Others) and Geography Forecast till 2026.”
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The report answers several questions, mainly which regions and segments to focus on in the forthcoming years for prioritizing efforts and investments. It offers in-depth information about the cryogenic insulation market trends, competitive landscape, growth drivers, obstacles, and other related challenges. Combined with these, it highlights comprehensive details regarding competitive developments, such as new product launches, contracts, mergers, expansions, and acquisitions.
Increasing Demand from Oil & Natural Gas and Chemical & Fertilizer Industries to Fuel Growth
In the oil and natural gas industry, cryogenic insulation is very essential for storing and transporting liquefied natural gas. The oil and natural gas industry is growing rapidly in those regions that possess very cold climatic conditions. Furthermore, the chemical and fertilizer industry provides a wide range of products in various forms, such as solids, gases, and liquids. Hence, the growth of both industries would contribute to the increasing demand for cryogenic insulation for the applications in the transport of the products as well as in manufacturing.
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Expansion of Oil and Gas Industry in the U.S. to Favor Growth in North America
Geographically, the cryogenic insulation market is grouped into North America, the Middle East, and Africa, Europe, Latin America, and Asia Pacific. Amongst these regions, North America is projected to exhibit significant growth during the forecast period owing to the expansion of the oil and gas industry in the U.S. In Europe, favorable climatic conditions are anticipated to drive the cryogenic insulation market sales due to rising demand from the oil and natural industry. The Middle East and Africa, on the other hand, house a well-established natural gas and oil industry.
Additionally, a rise in the chemical and fertilizer industry will also contribute to growth. Latin America is one of the largest exporters of agricultural products globally. It is because of the region’s firmly established agricultural sector. Therefore, the chemical and fertilizer industry will grow steadily due to a rise in the demand from the agricultural sector.
Asia Pacific is projected to exhibit notable growth as the region is one of the key producers of chemicals and fertilizers due to the cheap labor costs and abundant availability of raw materials. Apart from that, the food and beverage industry in this region is also growing at a fast pace. It would fuel the demand for chemicals and fertilizers, which will further, develop a platform for the growth of cryogenic insulation market size in this region.
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Acme Cryogenics, Inc. Acquires Cryogenic Experts, Inc. to Gain a West Coast Presence
Acme Cryogenics, Inc., a leading manufacturer of innovative cryogenic gas equipment and systems, headquartered in the U.S., announced that it has successfully acquired Cryogenic Experts, Inc. (CEXI), a provider of custom engineering and integration solutions, based in California in February 2019. CEXI is considered to be an excellent addition to Acme’s line of products and services as the company is one of the specialists in the field of engineering, installation, manufacturing, and design of a full line of accessories and vaporizers. The latest acquisition enables crucial value for all the consumers of Acme. Moreover, it will aid Acme in expanding its presence in the West Coast which will further result in the creation of several benefits for those consumers that are going forward. The integration will boost Acme’s services to consumers on the opposite coast.
List Of Key Companies Profiled in Cryogenic Insulation Market Are
- Lydall, Inc.
- Imerys S.A.
- Nichias Corporation
- Callenberg Technology Company
- Rochling Industrial
- Technifab Products
- Aspen Aerogels
- Unifrax I LLC
- Thermaxx Jackets
- Norplex Micarta
- Herose Limited
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