Cryogenic Insulation Market Opportunities and Strategies to 2034 | Energy and Power Sector Sparks Growth, Strategic Partnerships Fuel Innovation in Storage

Dublin, June 26, 2025 (GLOBE NEWSWIRE) — The “Cryogenic Insulation Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.

The cryogenic insulation market is projected for significant expansion from 2019 to 2034, with comprehensive insights into regional dynamics and economic impacts. This growing sector reached a value of approximately $7.05 billion in 2024, recording a CAGR of 4.16% since 2019. The market is expected to rise further, reaching $9.52 billion by 2029 at a CAGR of 6.18% and projecting continued growth to $12.42 billion by 2034 with a CAGR of 5.46%.

Historically, growth drivers included aerospace expansion, increased demand for cold chain logistics, and governmental policy support. However, the market faced challenges from stringent insulation material regulations. Looking forward, the market is poised to benefit from rising LNG demand, expanding industrial gas applications, and clean energy initiatives, although high initial investment costs and supply chain disruptions could pose challenges.

In 2024, Asia-Pacific dominated the cryogenic insulation market, contributing $2.87 billion (40.67%) of the total. Continued growth is anticipated in Asia-Pacific and Western Europe, with CAGRs of 7.47% and 6.09% respectively. Other promising markets include the Middle East and South America, expected to grow at CAGRs of 5.78% and 5.45% respectively.

The market landscape remains fragmented, with the top ten competitors holding a combined 24.15% share in 2023. BASF SE led the sector with a 3.57% market share, closely followed by players like Armacell International Holding GmbH and Lydall Inc.

Product segmentation includes cellular, fibrous, flake, granular, reflective, and other types, with cellular being the largest segment (50.73% in 2024) and reflective expected to show the fastest growth (CAGR of 7.90% from 2024 to 2029). In terms of application, storage tanks represented the largest segment (36.75% in 2024), while the terminals segment promises rapid growth (CAGR 6.96%). The energy and power industry remains the primary end-use sector, with the anticipated accelerated growth at a CAGR of 7.25% by 2029.

Significant opportunities exist across segments, particularly in the cellular market (projected $1.3 billion gain by 2029) and storage tanks ($1.0 billion). The energy segment alone could see a $1.14 billion increase by 2029. Notably, China is poised to gain $606.38 million within the sector.

Strategic approaches for market players include developing partnerships to enhance innovation, advancing hydrogen storage solutions, and launching high-performance insulation panels. Companies are advised to implement pricing strategies, expand digitally, and leverage partnerships for added value.

Key Attributes:

Major Market Trends

• Strategic Partnerships Driving Innovation in Cryogenic Hydrogen Storage
• Business Expansion Strategies in the Market
• Advancements in Cryogenic Storage Technology for Hydrogen
• Advancing Cryogenic Insulation for Enhanced LNG Transportation

Key Mergers and Acquisitions

• Carlisle Companies Acquired Plasti-Fab
• Vanguard Group Acquired Aspen Aerogels
• Dover Acquired SPS Cryogenics
• Caledonia Group Merged With Halson Group

Companies Featured

• BASF SE
• Armacell International Holding GmbH
• Lydall Inc.
• Chart Industries Inc.
• Owens Corning Corp.
• Rochling Group
• Huntsman Corporation
• Nichias Corporation
• H.B. Fuller Company
• KAEFER SE Co. & KG
• INOX India Ltd
• Highview Power
• Hypro
• GKN Aerospace Engine Systems India Pvt Limited
• Pearl Polyurethane Systems LLC
• Amol Dicalite Limited
• JSYK Yake Materials Technology
• Hudong Zhonghua Shipbuilding
• Harvest Insulation Engineering Co. Ltd
• Suzhou Long Range Cryogenic & Insulation Co. Ltd
• Nanovix Thermal Insulation Co. Ltd
• Nano Tech. Co. Ltd
• NMG Composites Co. Ltd
• Thermolytica Inc
• Tiger Corporation
• Asahi Kasei
• Nitto Denko
• 3M Company
• HD Hyundai Korea Shipbuilding and Offshore Engineering (HD KSOE)
• Insulation Korea Inc
• Korean Institute of Machinery and Materials (KIMM)
• YoungHwa Marine Tech
• Aerogel-it GmbH
• CryoVac Inc
• ICE
• Scientific Laboratory Supplies (SLS)
• Tagos S.r.l
• Cryospain
• Ingenieria y Diseno Europeo, S.A
• Evonik Industries AG
• Imerys SA
• ISOVER Company
• Air Liquide SA
• Rockwool
• Knauf Insulation
• Aspen Aerogels Inc.
• ACME Cryogenics
• Cryogenic Gas Technologies Inc
• Cryo-Cell International
• Azenta Inc
• Plasti-Fab
• Cabot Corporation
• Johns Manville Inc. (USA)
• Huntsman Corporation (USA)
• Air Products and Chemicals Inc. (USA)
• Cryofab Inc. (USA)
• Cryomagnetics Inc. (USA)
• Cryomech Inc. (USA)
• Insul-Therm International Inc. (USA)
• Isolation Technologies LLC (USA)
• Janis Research Company LLC (USA)
• Chart Industries Inc. (USA)
• DUNA-USA Inc. (USA)
• Advanced Insulation Systems Ltd. (USA)
• Insultherm Inc. (USA)
• Oblender Insulations Inc. (Canada)
• Brock Canada Industrial Ltd. (Canada)
• Apache Industrial Services Canada, Inc. (Canada)
• Great Northern Insulation Services Ltd.
• Thermal Energy Products Inc. (USA)
• Johns Manville Inc.
• Hertel Holding B.V.
• CISA Cryogenic Insulation Solution & Materials Management LLC (UAE)
• Gulf Perlite LLC (UAE)
• Novoclad Insulation Contracting LLC (UAE)
• Ocean Thermal Insulation (UAE)
• INSULTHERM Insulation Services (UAE)
• PREZICON Ltd
• Pratley Minerals
• Dohmeyer

For more information about this report visit https://www.researchandmarkets.com/r/70k3sx

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• Cryogenic Insulation Market