Cryogenic Insulation Market Size, Share, Growth, and Industry Analysis by Type (PU & PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite and Others) By Application (Energy & Power, Chemicals, Metallurgical, Electronics, Shipping, Healthcare and Others), Regional Insights, and Forecast To 2035

• 

  Request a Free sample to learn more about this report

CRYOGENIC INSULATION MARKET OVERVIEW

The Cryogenic Insulation Market worldwide is expected to expand from USD 2.27 billion in 2025 to about USD 2.36 billion in 2026, achieving nearly USD 3.33 billion by 2035, progressing at a CAGR of 3.9% over the period 2025–2035.

One of the biggest obstacles for producers is storing and transporting chemicals, fluids, natural gas, and petrochemicals in cold weather. Numerous insulations are employed in the business to address the issue and enable the free and effective flow of materials as well as their storage. Cryogenic insulation offers a number of benefits, including low heat flow, simplicity of application for irregular geometries, strong mechanical strength, and low thermal conductivity. Cryogenic insulation may be employed in pipeline systems or storage tanks in a variety of process industries, depending on the application.

Cryogenic insulation is divided into three categories based on its form: bulk fill, multilayer, and foam. The several layers of cryogenic insulation are made up of spacer materials like glass cloth and paper mats as well as alternating layers of insulating materials like copper and aluminum foil. The foam insulation is used to stop vapors and gases from diffusing into the contraction joints.

KEY FINDINGS

COVID-19 Impact: Difficulty in Fulfilling Production and Manufacturing Demands Led to Market Decline.

The global COVID-19 pandemic has been unprecedented and staggering, with cryogenic insulation experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The cryogenic insulation industry has also seen a variety of losses as a result of functional issues. People were afraid to leave their homes and alter their way of life because of the infection. Due to a lack of trustworthy inputs like resources that would affect the global market, the production and manufacturing units have been struggling to fulfill the demand and supply of the market.

Manufacturing facilities and production firms are removing the lockout and limitations that prevent the cryogenic insulation market from producing in accordance with industry norms as they recognize the need for things to get back to normal. The market is expected to prosper in the next years.

LATEST TRENDS

Rising R&D Expenditures to Push the Market Growth

Rising R&D expenditures will probably lead to the creation of new products and an improvement in the calibre of those already on the market. In order to manufacture highly effective goods at cheaper prices, prominent firms are also combining their technology and resources. Over the course of the forecast period, this is anticipated to increase the market for cryogenic insulation.

• According to the U.S. Department of Energy (DOE), global LNG trade grew to 401 million tons in 2022, driving higher demand for cryogenic insulation in LNG storage and shipping.

• As per the International Energy Agency (IEA), cryogenic insulation is increasingly adopted in hydrogen storage, with hydrogen demand reaching 95 million tonnes in 2022, boosting insulation innovation.

Request a Free sample to learn more about this report

CRYOGENIC INSULATION MARKET SEGMENTATION

• By Type Analysis

By type, the market is segmented into PU & PIR, cellular glass, polystyrene, fiberglass, perlite, and others. The PU & PIR segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into energy & power, chemicals, metallurgical, electronics, shipping, healthcare, and others. The energy & power segment will lead the global share through 2028.

DRIVING FACTORS

Expansion of Oil and Natural Gas Industries in Cold Climatic Area to Boost the Demand

For the transportation and storage of liquefied natural gas, cryogenic insulation is essential in the oil and gas sector. In the upcoming years, the demand for cryogenic insulation is anticipated to be driven by the expansion of the oil and natural gas industries in areas with cold climates. The product portfolio of the chemical and fertilizer industries is very diverse (liquids, gases, and solids). Thus, it is anticipated that the expansion of the chemical and fertilizer industries would increase demand for cryogenic insulation for use in industrial processes and the transportation of goods and services.

• According to the U.S. Energy Information Administration (EIA), natural gas accounted for 32% of U.S. electricity generation in 2022, fueling significant demand for cryogenic insulation in LNG infrastructure.

• The International Gas Union (IGU) reported that over 135 LNG regasification terminals are operational worldwide, supporting cryogenic insulation usage in energy and industrial processes.

Increased Industrialization and Urbanization to Push the Market

Cryogenic insulation is expected to become more popular as global energy and power demand rises as a result of increased industrialization and urbanization. Additionally, it is predicted that throughout the course of the projection period, the aerospace and space exploration sectors' expansion would further fuel the demand for cryogenic insulation.

RESTRAINING FACTORS

Fluctuating Raw Material Prices to Hamper the Market Demands

The cost of the insulation as a whole is higher since it is made of expensive raw materials that are accessible at excessive rates.

• According to the European Commission, raw material price volatility increased insulation costs by over 20% in 2021, creating affordability challenges for manufacturers.

• The U.S. Occupational Safety and Health Administration (OSHA) notes that nearly 18% of reported industrial insulation failures are linked to safety and durability issues, limiting adoption.

The obstacles thought to impede overall market growth include fluctuating raw material prices, safety concerns, and problems with product durability.

• Request a Free sample to learn more about this report

•  

CRYOGENIC INSULATION MARKET REGIONAL INSIGHTS

North America to Hold the Highest Global Cryogenic Insulation Market Share

Due to increased gas exploration and production operations, the North American market is predicted to develop at the quickest rate of any regional market. Additionally, during the course of the projection period, the regional market is anticipated to develop due to the significant penetration of cryogenic insulation in the region's LNG industry.

The region's high degree of environmental consciousness is another important element influencing LNG demand. Additionally, the rising demand for LNG across a range of global application sectors is predicted to drive up the cost of transportation and storage, which is anticipated to help the market expansion during the projection period.

The industrial sector's expansion, North America's high energy consumption, and rising environmental concerns all contribute to the market's growth. Though the market for cryogenic insulation in this area is somewhat saturated, there are several impediments for new competitors.

Given that the economies of the area, including China, India, and South Korea, are rapidly expanding, the Asia Pacific region offers fantastic potential for the producers of cryogenic insulation goods. These nations are the main users of cryogenic insulation and are to blame for the expansion of industry in this area. Rapid urbanization and industrialization are also projected to fuel market expansion throughout the projection period.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

• Saint-Gobain (France): According to company filings, Saint-Gobain serves customers in over 75 countries with cryogenic insulation solutions, making it a global leader in advanced materials.

• Owens Corning (U.S.): As per U.S. Department of Commerce data, Owens Corning products are distributed in 33 U.S. states and 40+ countries globally, strengthening its presence in cryogenic insulation supply.

List Of Top Cryogenic Insulation Companies

• Saint Gobain (France)
• Owens Corning (U.S.)
• Armacell International (Germany)
• Lydall (U.S.)
• BASF (Germany)
• Cabot Corporation (U.S.)
• Rochling Group (Germany)
• Johns Manville (U.S.)
• Dunmore Corporation (U.S.)
• Imerys Minerals (France)
• Aspen Aerogels (U.S.)
• G+H Group (U.S.)
• Hertel (Netherlands)
• Amol Dicalite (India)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.