Tank Insulation Market – Industry Trends

Definition : Tank insulation

Tank insulation refers to the process in which different chemicals and materials are applied to the inside of tank and also to the surface, to maintain the temperature throughout its usage period.
Tank insulation is done to preserve the temperature inside the tank in order to minimize the heat loss. Tanks are used in almost all the industries according to their variable size, shape and media temperature. There are various tanks that are used to store and transport liquid gases with low static evaporation.
Insulation is done by using material or a combination of materials that are applied to restrict the flow of heat. The five most common insulation materials used are: fiberglass, mineral wool, cellulose, polyurethane foam and polystyrene.
Global tank insulation market is projected to register a healthy CAGR of 5.3% in the forecast period of 2019 to 2026.

Segmentation: Global Tank Insulation Market

Global tank insulation market is segmented into six notable segments which are:-
  • by type
  • material type
  • temperature type
  • tank type
  • tank ends
  • end-user
OPPORTUNITY
High demand for tanks due to growing petrochemicals industry in China and India.
CHALLENGE
Fire and explosion due to chemical reaction with insulating material in tank

Major Players: Global Tank Insulation Market

Some of the major players operating in this market are:
  • Huntsman International LLC.
  • Akzo Nobel N.V.
  • Solvay
  • BASF SE
  • EVONIK INDUSTRIES
  • Clariant
  • The Dow Chemical Company
  • Kemira
  • SNF Group
  • Orica Limited
  • Hychem, Inc.
  • Ecolab
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