The global tank insulation market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period (2024-2031).The rising awareness of environmental sustainability and conservation of energy has encouraged industries to invest in tank insulation to reduce the carbon footprint and full-fill the regulatory standards. The demand for tank insulation solutions is focusing on efficiency and sustainability. In November 2023, Kingspan launches HemKor range which includes the first bio-based insulation product. Hemkor is mostly made of hemp which helps in driving down the embodied carbon of buildings.
The adoption of digitization and smart technology in insulation systems shows a major development for the sector. The developments are intended to maximize performance, increase cost-effectiveness, and boost energy efficiency in industrial environments. The use of smart sensors in insulation systems is one such instance of this integration. The purpose of these sensors is to track and gather information on temperature, humidity, and other pertinent factors. Industrial establishments can use this data to get real-time insights into how well the insulation systems are working. In October 2022, BASF announced launch of new products such as Elastopor, Elastopir and Elastospray to makeinsulation more sustainable. It containsrecycled plastics and has intelligent insulation which is the central feature for modern construction. Such developments are aiding to the global market growth.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Material Type
- By Temperature
- By End-use
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- The major companies in the global tank insulation market include Basf SE, Johns Manville, Omkar Puf Insulation Pvt. Ltd, Isolatie Combinatie Beverwijk B.V, Armacell among others.
Tank Insulation Market Report Segment
By Material Type
- Polyurethane
- Fiberglass
- Rockwool
- Elastomeric Foam
- Expanded Polystyrene
- Others (Cellular Glass, Polyisocyanurate PIR)
By Temperature
- Cold Insulation
- Hot Insulation
By End-use
- Chemical
- Oil and Gas
- Food and Beverages
- Energy and Power
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Tank Insulation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Armacell
- Cabot Corp.
- Covestro AG
- Dunmore
- Gilsulate International Inc.
- Huntsman International LLC
- Kingspan Group
- Knauf Insulation
- NMC International SA
- Omkar Puf Insulation Pvt. Ltd.
- Owens Corning
- Rochling SE & Co. KG
- Rockwool AS
- Saint-Gobain SA
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