Tank Insulation Market by Material (PU & PIR, Rockwool, Fiberglass, Elastomeric Foam, EPS), Type (Storage, Transportation), Temperature (Hot, Cold), End-Use Industry (Oil & Gas, Chemical, Food & Beverage, Energy & Power) - Global Forecast to 2023
The tank insulation market is projected reach USD 6.5 billion by 2023, at a CAGR of 4.50%. Tank insulation is a material or combination of materials that add a protective covering to tanks and reduces the heat loss or heat gain from surfaces operating at temperatures above or below the surrounding temperature. The growing production of oil in countries such as the US, Saudi Arabia, Iran, and Russia drives the demand for tank insulation. Also, stringent regulations to insulate tanks drive the demand for tank insulations.
The PU & PIR segment is expected to be the largest contributor to the overall tank insulation market during the forecast period.
On the basis of material, the tank insulation market has been segmented into PU & PIR, rockwool, fiberglass, elastomeric foam, EPS cellular glass, and others. The PU & PIR segment is expected to lead the tank insulation market between 2018 and 2023, in terms of value. The higher demand for PU & PIR is mainly attributed to their properties and widespread applications. PUR & PIR foam is lightweight, moisture and fire resistant, has low thermal conductivity and density, and provides better structural performance. These properties enable their use in cold conditions.
The storage tank segment accounts for the largest share of the overall market.
On the basis of type, the tank insulation market has been segmented into storage tank insulation and transportation tank insulation. The storage tank segment is expected to account for the largest share of the tank insulation market during the forecast period. The dominance of the storage tank segment is expected to continue during the forecast period due to its increasing demand from end-use industries such as oil & gas, chemical, and energy & power for the storage of oil, chemicals, LNG, and thermal energy.
The chemical segment is projected to be the fastest-growing end-use industry of tank insulation during the forecast period.
On the basis of end-use industry, the tank insulation market has been segmented into oil & gas, chemical, food & beverage, energy & power, and others. The chemical segment is estimated to be the second-largest end-use industry of the tank insulation market, in terms of value, during the forecast period. The demand for tank insulation in the industry is expected to increase as a result of increasing chemical manufacturing capacities across the globe.
APAC is expected to account for the largest share of the tank insulation market during the forecast period.
The APAC tank insulation market accounted for the largest share in the global market. The market in the region is driven by the high demand from growing industries in the region’s emerging economies, such as China and India. Rising demand for LNG, increasing investment in the energy sector, urbanization, industrialization, and infrastructural development are expected to drive the tank insulation market during the forecast period. Additionally, high growth in various industries such as pharmaceuticals, food processing, and chemicals are expected to drive the demand for tank insulations in the region.
Key Market Players in Tank Insulation Market
The key players in this market are Rockwool International A/S (Denmark), Owens Corning (US), Saint-Gobain (France), Kingspan Group (Republic of Ireland), Armacell International S.A. (Germany), Cabot Corporation (US), Johns Manville (US), Knauf Insulation (US), BASF SE (Germany), and Covestro AG (Germany). These players have adopted various growth strategies to expand their presence and increase their shares in the tank insulation market. For instance, Armacell is focusing on emerging markets with sustainable developments for the tank insulation market. The company offers various sheets and roll insulations for tanks, which are used in industries such as oil & gas, energy & power, and chemical. The company is continuously investing in R&D activities to maintain its competitive position in the tank insulation market and increase its share in the global market.
Tank Insulation Market Report Scope
|
Report Metric |
Details |
|
Years considered for the study |
2016-2023 |
|
Base year |
2017 |
|
Forecast period |
2018-2023 |
|
Unit Considered |
Value (USD Million) |
|
Segments |
Material, Type, Temperature, End-Use Industry, and Region |
|
Regions |
APAC, North America, Europe, Middle East & Africa, and South America |
|
Companies |
Armacell International S.A. (Germany), Johns Manville (US), Knauf Insulation (US), BASF SE (Germany), and Rockwool International A/S (Denmark), Top 15 major players covered. |
This report categorizes the global tank insulation market based on material, type, temperature, end-use industry, and region.
On the basis of material, the tank insulation market has been segmented as follows:
- PU & PIR
- Rockwool
- Fiberglass
- Elastomeric foam
- Cellular Glass
- EPS
- Others (aerogel, perlite, ceramics)
On the basis of type, the tank insulation market has been segmented as follows:
- Storage Tank Insulation
- Transportation Tank Insulation
On the basis of temperature, the tank insulation market has been segmented as follows:
- Cold Insulation
- Hot Insulation
On the basis of end-use Industry, the tank insulation market has been segmented as follows:
- Oil & Gas
- Chemical
- Food & Beverage
- Energy & Power
- Others (fire protection water treatment, metal, and pharmaceutical, among others)
On the basis of region, the tank insulation market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East & Arica
- South America
Recent Developments in Tank Insulation Market
- In October 2018, Saint-Gobain acquired 100% equity shares of Kaimann GmbH International, which is one of Europe’s leading manufacturers of elastomeric insulation products.
- In May 2018, Armacell acquired De Xu- a Chinese manufacturer of elastomeric insulation foams. This helped the company to strengthen its market position and production capacity in China.
- In April 2017, Owens Corning introduced the first and only formaldehyde-free Thermafiber light-density mineral wool insulation.
- In November 2016, Rockwool acquired Flumroc AG (Switzerland), a stone wool producer. This acquisition is expected to help the company to expand in the tank insulation market.
Key Questions addressed by the report
- What are the major developments impacting the market?
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming materials for tank insulation?
- What are the emerging end-use industries for tank insulation?
- What are the major factors impacting the market growth during the forecast period?
Frequently Asked Questions (FAQ):
How big is the tank insulation market industry?
The tank insulation market is projected to reach USD 6.5 billion by 2023, at a CAGR of 4.50%.
Who leading market players in tank insulation industry?
The key tank insulation market players are Rockwool International A/S (Denmark), Owens Corning (US), Saint-Gobain (France), Kingspan Group (Republic of Ireland), Armacell International S.A. (Germany), Cabot Corporation (US), Johns Manville (US), Knauf Insulation (US), BASF SE (Germany), and Covestro AG (Germany).
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
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Table of Contents
1 Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Regions Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 20)
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Key Data From Primary Sources
2.3.2 Breakdown of Primary Interviews
2.4 Market Size Estimation
2.4.1 Market Size Estimation Methodology: Bottom-Up Approach
2.4.2 Market Size Estimation Methodology: Top-Down Approach
2.5 Data Triangulation
2.6 Assumptions
2.7 Limitations
3 Executive Summary (Page No. - 27)
4 Premium Insights (Page No. - 31)
4.1 Attractive Opportunities in Tank Insulation Market
4.2 APAC Tank Insulation Market, By End-Use Industry and Country
4.3 Market, By Region
4.4 Tank Insulation Market, By Region and End-Use Industry
4.5 Market Attractiveness
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand From Oil & Gas and Chemical Industries
5.2.1.2 Use of Renewable Insulation Materials
5.2.1.3 Growing Demand for Cryogenic Insulation
5.2.2 Restraints
5.2.2.1 Fluctuating Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Increasing Industrialization in Emerging Economies
5.2.4 Challenges
5.2.4.1 Health Hazards and Safety-Related Incidents
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP Trends and Forecast of Major Economies
5.4.2 Trends and Forecast of the Oil & Gas Industry and Its Impact on the Tank Insulation Market
6 Tank Insulation Market, By Material (Page No. - 43)
6.1 Introduction
6.2 Pu & Pir
6.2.1 Pu & Pir Segment is Expected to Account for the Largest Market Share
6.3 Rockwool
6.3.1 Increasing Demand for Hot Insulation is Expected to Drive the Rockwool Segment
6.4 Elastomeric Foam
6.4.1 Resistance to Moisture is Expected to Spur the Demand for Elastomeric Foams in Multiple Applications
6.5 Fiberglass
6.5.1 Increasing Scope of Application is Driving the Demand for Fiberglass in Tank Insulation
6.6 EPS
6.6.1 Increasing Demand for Cold Storage Applications is Expected to Drive the EPS Segment
6.7 Cellular Glass
6.7.1 High Demand for Storage Tanks Boosts the Growth of the Cellular Glass Segment
6.8 Others
7 Tank Insulation Market, By Type (Page No. - 48)
7.1 Introduction
7.2 Storage Tank Insulation
7.2.1 APAC is Projected to Be the Largest Market for Storage Tank Insulation
7.3 Transportation Tank Insulation
7.3.1 High Demand for LNG Boosts the Growth of the Transportation Tank Insulation Segment
8 Tank Insulation Market, By Temperature (Page No. - 52)
8.1 Introduction
8.2 Cold Insulation
8.2.1 Increasing Demand for Food Storage and Chemicals Storage is Expected to Propel the Cold Tank Insulation Market
8.3 Hot Insulation
8.3.1 Establishment of New Industries in the Energy & Power Sector is Expected to Drive the Demand for Hot Tank Insulation
9 Tank Insulation Market, By End-Use Industry (Page No. - 56)
9.1 Introduction
9.2 Oil & Gas
9.2.1 Oil & Gas Industry is the Largest Consumer of Tank Insulation
9.3 Chemical
9.3.1 Growing Chemical Industry in Emerging Economies is Expected to Drive the Demand for Tank Insulation
9.4 Food & Beverage
9.4.1 Rise in Number of Food & Beverage Processing Equipment is Expected to Drive the Market for Tank Insulation
9.5 Energy & Power
9.5.1 Growth of the Power Generation Industry is Expected to Drive the Market for Tank Insulation
9.6 Others
10 Tank Insulation Market, By Region (Page No. - 63)
10.1 Introduction
10.2 APAC
10.2.1 China
10.2.1.1 China is the Fastest-Growing Tank Insulation Market
10.2.2 India
10.2.2.1 Growing Chemical Production Will Contribute Significantly to the Growth of the Market
10.2.3 Japan
10.2.3.1 Increasing Imports of Natural Gas Will Boost the Demand for Tank Insulation
10.2.4 South Korea
10.2.4.1 High Demand From the Chemical Industry Will Positively Impact the Tank Insulation Market
10.2.5 Indonesia
10.2.5.1 Rising Oil Production Will Propel the Tank Insulation Market Growth
10.2.6 Australia
10.2.6.1 Increasing Investment in the Oil & Gas Sector is Expected to Drive the Market
10.2.7 Malaysia
10.2.7.1 Growing Demand for LNG Transportation and Storage to Augment the Demand for Tank Insulations
10.2.8 Rest of APAC
10.3 Europe
10.3.1 Germany
10.3.1.1 Increase in Export and Import of Chemicals Act as an Opportunity in the Tank Insulation Market
10.3.2 Italy
10.3.2.1 Growth in the Manufacturing Industry Will Drive the Market
10.3.3 France
10.3.3.1 Increasing Demand for Tanks From the Food & Beverage Industry Will Drive the Market
10.3.4 UK
10.3.4.1 Surging Production of Oil & Gas Will Significantly Influence the Market
10.3.5 Russia
10.3.5.1 Russia Accounted for the Largest Share in the Tank Insulation Market in Europe
10.3.6 Netherlands
10.3.6.1 Increasing Oil & Gas Import in the Country is Expected to Drive the Market
10.3.7 Rest of Europe
10.4 North America
10.4.1 US
10.4.1.1 The US is the Largest Tank Insulation Market in North America
10.4.2 Canada
10.4.2.1 Canada is the Fastest-Growing Tank Insulation Market in North America
10.4.3 Mexico
10.4.3.1 Government Initiatives to Increase the Production of Oil & Gas are Driving the Tank Insulation Market
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Increasing Demand From the Energy & Power Industry is Expected to Drive the Market
10.5.2 Iran
10.5.2.1 Iran is the Fastest-Growing Tank Insulation Market in the Middle East & Africa
10.5.3 UAE
10.5.3.1 The Chemical Segment Will Significantly Impact the Tank Insulation Market Growth
10.5.4 Rest of Middle East & Africa
10.6 South America
10.6.1 Brazil
10.6.1.1 The Oil & Gas Industry Aids the Tank Insulation Market Growth Significantly
10.6.2 Argentina
10.6.2.1 High Requirement of Tank Insulations in the Oil & Gas Segment Will Support the Market Growth
10.6.3 Venezuela
10.6.3.1 Rising Demand for Gas-Based Electricity Will Have A Positive Impact on the Tank Insulation Market
10.6.4 Rest of South America
11 Competitive Landscape (Page No. - 93)
11.1 Overview
11.2 Key Market Players
11.3 Competitive Situation and Trends
11.3.1 Expansion
11.3.2 New Product Launch
11.3.3 Acquisition
11.3.4 Agreement
11.3.5 Investment
12 Company Profiles (Page No. - 99)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 Rockwool International A/S
12.2 Armacell International S.A.
12.3 Owens Corning
12.4 Saint-Gobain
12.5 Cabot Corporation
12.6 Kingspan Group PLC
12.7 Johns Manville
12.8 Knauf Insulation
12.9 BASF SE
12.10 Covestro AG
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12.11 Other Market Players
12.11.1 Huntsman Corporation
12.11.2 Itw Insulation Systems
12.11.3 Rochling Group
12.11.4 Dunmore Corporation
12.11.5 Nmc Sa
12.11.6 Gilsulate International, Inc.
12.11.7 Sekisui Foam Australia
13 Appendix (Page No. - 118)
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (66 Tables)
Table 1 Trends and Forecast of GDP, 2018–2023 (USD Billion)
Table 2 Tank Insulation Market Size, By Material, 2016–2023 (USD Million)
Table 3 Tank Insulation Market Size, By Type, 2016–2023 (USD Million)
Table 4 Storage Tank Insulation Market Size, By Region, 2016–2023 (USD Million)
Table 5 Transportation Tank Insulation Market Size, By Region, 2016–2023 (USD Million)
Table 6 Market Size, By Temperature, 2016–2023 (USD Million)
Table 7 Cold Insulation Market Size, By Region, 2016–2023 (USD Million)
Table 8 Hot Insulation Market Size, By Region, 2016–2023 (USD Million)
Table 9 Tank Insulation Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 10 Market Size in Oil & Gas Industry, By Region, 2016–2023 (USD Million)
Table 11 Tank Insulation Market Size in Chemical Industry, By Region, 2016–2023 (USD Million)
Table 12 Market Size in Food & Beverage Industry, By Region, 2016–2023 (USD Million)
Table 13 Tank Insulation Market Size in Energy & Power Industry, By Region, 2016–2023 (USD Million)
Table 14 Market Size in Other End-Use Industries, By Region, 2016–2023 (USD Million)
Table 15 Tank Insulation Market Size, By Region, 2016–2023 (USD Million)
Table 16 APAC: By Market Size, By Country, 2016–2023 (USD Million)
Table 17 APAC: By Market Size, By Type, 2016–2023 (USD Million)
Table 18 APAC: By Market Size, By Temperature, 2016–2023 (USD Million)
Table 19 APAC: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 20 China: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 21 India: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 22 Japan: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 23 South Korea: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 24 Indonesia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 25 Australia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 26 Malaysia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 27 Rest of APAC: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 28 Europe: By Market Size, By Country, 2016–2023 (USD Million)
Table 29 Europe: By Market Size, By Type, 2016–2023 (USD Million)
Table 30 Europe: By Market Size, By Temperature, 2016–2023 (USD Million)
Table 31 Europe: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 32 Germany: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 33 Italy: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 34 France: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 35 UK: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 36 Russia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 37 Netherlands: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 38 Rest of Europe: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 39 North America: By Market Size, By Country, 2016–2023 (USD Million)
Table 40 North America: By Market Size, By Type, 2016–2023 (USD Million)
Table 41 North America: By Market Size, By Temperature, 2016–2023 (USD Million)
Table 42 North America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 43 US: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 44 Canada: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 45 Mexico: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 46 Middle East & Africa: By Market Size, By Country, 2016–2023 (USD Million)
Table 47 Middle East & Africa: By Market Size, By Type, 2016–2023 (USD Million)
Table 48 Middle East & Africa: By Market Size, By Temperature, 2016–2023 (USD Million)
Table 49 Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 50 Saudi Arabia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 51 Iran: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 52 UAE: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 53 Rest of Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 54 South America: By Market Size, By Country, 2016–2023 (USD Million)
Table 55 South America: By Market Size, By Type, 2016–2023 (USD Million)
Table 56 South America: By Market Size, By Temperature, 2016–2023 (USD Million)
Table 57 South America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 58 Brazil: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 59 Argentina: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 60 Venezuela: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 61 Rest of South America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 62 Expansion, 2016–2018
Table 63 New Product Launch, 2016–2018
Table 64 Acquisition, 2016–2018
Table 65 Agreement, 2016–2018
Table 66 Investment, 2016-2018
List of Figures (39 Figures)
Figure 1 Tank Insulation Market: Research Design
Figure 2 Tank Insulation Market: Data Triangulation
Figure 3 Elastomeric Foam to Be the Fastest-Growing Material Type in the Market
Figure 4 Oil & Gas End-Use Industry Accounted for the Largest Share in the Market in 2017
Figure 5 Storage Tank to Be the Larger Segment of the Market
Figure 6 Cold Insulation Segment to Lead the Tank Insulation Market
Figure 7 APAC Accounted for the Largest Share of the Tank Insulation Market in 2017
Figure 8 Increasing Demand From Oil & Gas and Chemical Sectors to Drive the Market
Figure 9 China Led the APAC Tank Insulation Market in 2017
Figure 10 APAC Accounted for the Largest Market Share in 2017
Figure 11 Oil & Gas End-Use Industry Accounted for the Largest Share in the Middle East & Africa in 2017
Figure 12 China to Be the Fastest-Growing Market Between 2018 and 2023
Figure 13 Drivers, Restraints, Opportunities, and Challenges: Tank Insulation Market
Figure 14 Tank Insulation Market: Porter’s Five Forces Analysis
Figure 15 Global Oil Production, 2012–2017
Figure 16 Global Oil Consumption, 2012–2017
Figure 17 Global Natural Gas Production, 2012–2017
Figure 18 Elastomeric Foam Segment to Register the Highest CAGR in the Tank Insulation Market
Figure 19 Storage Tank Segment to Register the Higher CAGR in the Tank Insulation Market
Figure 20 Cold Insulation Segment to Register the Higher CAGR in the Tank Insulation Market
Figure 21 Market in the Chemical Segment to Register the Highest CAGR
Figure 22 APAC to Be the Fastest-Growing Tank Insulation Market
Figure 23 APAC: Tank Insulation Market Snapshot
Figure 24 Europe: Tank Insulation Market Snapshot
Figure 25 North America: Tank Insulation Market Snapshot
Figure 26 Acquisition Was the Key Growth Strategy Adopted By the Market Players Between 2016 and 2018
Figure 27 Rockwool International A/S: Company Snapshot
Figure 28 Rockwool International A/S: SWOT Analysis
Figure 29 Armacell International S.A.: Company Snapshot
Figure 30 Armacell International S.A.: SWOT Analysis
Figure 31 Owens Corning: Company Snapshot
Figure 32 Owens Corning: SWOT Analysis
Figure 33 Saint-Gobain: Company Snapshot
Figure 34 Saint-Gobain: SWOT Analysis
Figure 35 Cabot Corporation: Company Snapshot
Figure 36 Cabot Corporation: SWOT Analysis
Figure 37 Kingspan Group PLC: Company Snapshot
Figure 38 BASF SE: Company Snapshot
Figure 39 Covestro AG: Company Snapshot
The study involves four major activities in estimating the market size for tank insulation. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Tank Insulation Market Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. Findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Tank Insulation Market Primary Research
The tank insulation market comprises several stakeholders such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of oil & gas, chemical, food & beverage, and energy & power industries. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
To know about the assumptions considered for the study, download the pdf brochure
Tank Insulation Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the tank insulation market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
The key players in the industry have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Tank Insulation Market Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the oil & gas, chemical, food & beverage, and energy & power, and other industries.
Tank Insulation Market Report Objectives
- To define, describe, and forecast the market size of Tank Insulation, in terms of value and volume
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size by material, type, temperature, end-use industry, and region
- To forecast the size of the market with respect to five main regions (along with key countries of each region), namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To track and analyze recent developments such as expansions and acquisitions in the market
- To strategically profile the key market players and comprehensively analyze their core competencies
Tank Insulation Market Report Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional end-use industry
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Growth opportunities and latent adjacency in Tank Insulation Market