Cryogenic Insulation Market to Worth USD 5.04 billion by 2029 |
September 8th, 2022
Luton, Bedfordshire, United Kingdom, Sept. 06, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Cryogenic Insulation Market.
The global Cryogenic Insulation Market was valued at around USD 2.61 billion in 2021, the overall sales of cryogenic insulation are projected to reach USD 5.04 billion by 2029, growing at a CAGR of 7.3% during the forecast period.
Cryogenic insulation is a high-performance material that protects and reduces energy leaks while also providing a high level of thermal isolation for applications operating at temperatures below -75 degrees Celsius. This is primarily used for transporting and storing cryogenic gases like liquid petroleum gas (LPG), liquid natural gas (LNG), and ethylene. Growing LNG terminals, LNG transportation and storage, and other LNG-related applications necessitated cryogenic insulation, which is expected to boost cryogenic market demand.