Insulation is done by using material or a combination of materials that are applied to restrict the flow of heat. The five most common insulation materials used are: Fiberglass, Mineral wool, Cellulose, Polyurethane Foam and Polystyrene.
Fiberglass requires safe and efficient handling. Aerogel is the best insulation material that can be used for insulating tanks but, its high cost affects its usage. There are various tanks that are used to store and transport liquid gases with low static evaporation. Liquid nitrogen is often used in the packaging of medical supplies. With the rise in the demand for proper packaged pharmaceutical products, the demand for insulation of tanks is increasing.
Asia-Pacific tank insulation market is expected to register a substantial CAGR in the forecast period of 2019 -2026.
Tank insulation refers to the process in which different chemicals and materials are applied to the inside of tank and also to the surface, to maintain the temperature throughout its usage period. Tank insulation is done to preserve the temperature inside the tank in order to minimize heat loss. Tanks are used in almost all the industries according to their variable size, shape and media temperature. There are various tanks that are used to store and transport liquid gases with low static evaporation.
Competitive Analysis: Asia-Pacific Tank Insulation Market
Some of the major players operating in this market are Commercial Thermal Solutions, Inc., The Dow Chemical Company, GILSULATE INTERNATIONAL, INC., ITW INSULATION SYSTEMS, J.H. Ziegler GmbH, Knauf Insulation, PolarClad Tank Insulation, ARMACELL LLC, Kingspan Group, Synavax, Johns Manville, Mayes Coatings & Insulation, Inc., Thermacon, Gulf Cool Therm Factory LTD, ROCKWOOL International A/S, Cabot Corporation, SPX Transformer Solutions Inc., DUNMORE, T.F.WARREN GROUP, Saint-Gobain, Huntsman International LLC, Corrosion Resistant Technologies, Inc., Röchling Group.
- In September 2018, Armacell announced the launch of its ArmaFlex Shield to be used for pipe and tanks insulation. This shield provides strong protective coating. The shield protects the tanks and pipes from corrosion. It helped the company to increase its insulation products portfolio. This product launch impacts the tank insulation market positively.
- In August 2018, Armacell launched aerogel blanket. This blanket is suitable for high temperature applications up to 650 °C. This features dust reducing technology. It helped the company to increase its insulation products portfolio. This product launch impacts the tank insulation market positively.
Segmentation: Asia-Pacific Tank Insulation Market
Asia-Pacific tank insulation market is segmented into six notable segments which are by type, material type, temperature type, tank type, tank ends and end-user.
- On the basis of type, the market is segmented into storage and transportation
- On the basis of material type, the market is segmented into expanded polystyrene (EPS), rockwool, cellular glass, fiberglass, elastomeric foam, polyurethane (PU) and others
- On the basis of temperature type, the market is segmented into hot insulation and cold insulation
- On the basis of tank type, the market is segmented into vertical tank, horizontal tank, fixed tank and mounted tank
- On the basis of tank ends, the market is segmented into parabolic dish and flat
- On the basis of end-user, the market is segmented into oil & gas, energy and power, chemical, food and beverages, water purification, wastewater purification and others.
Research Methodology: Asia-Pacific Tank Insulation Market
Primary Respondents: Key Industry Participants, Subject-matter Experts (SMEs), C-level Executives of Key Market Players, Market Intelligence Managers, National Sales Managers and Industry Consultants.
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