Subsea Thermal Insulation Materials Market - Global Industry Analysis

Subsea Thermal Insulation Materials Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Category: Heavy Industry Report Format : PDF Report Code: ZMR-620 Status : Upcoming


Global Subsea Thermal Insulation Materials Market: Overview

Sub-sea thermal insulation is a protective thermal insulation coating applied to components subjected to cold deep water immersion. This coating provides thermal stability to the components and facilitates smooth operation under deepwater. Several different components, systems, and sub-sea pipes are used in the oil & gas applications. In the absence of subsea thermal insulation, the oil flowing in these components gets cooled and starts to hydrate, resulting in waxy deposits and restricting the oil flow. Oil & gas exploration companies are venturing into deep-water regions and arctic environments due to ever-escalating demand for oil & gas. Thermal insulation is also useful in some drilling applications. The primary components of the subsea thermal insulation are epoxy, polyurethane, and polypropylene. Some other components are also used in subsea thermal insulation such as silicone rubber and aerogels.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Subsea Thermal Insulation Materials Market: Growth Factors

The major growth factor of the subsea thermal insulation materials market is the escalating demand from oil & gas industries. Oil exploration companies are required to drill under deep water and arctic region for oil and gas. This is anticipated to boost the global market in the coming years. However, no feasible alternative is available for the existing insulation techniques, thus boosting the growth of the global subsea thermal insulation materials market. Companies focus on launching new products or techniques in the global market to energize their existing production capacities; this is expected to boost the global market growth. In addition, better supply to the customers with growing applications in the subsea thermal insulation materials may fuel the global market in coming years. They are actively trying to cater major niche market and less explored markets in the different regions. This is anticipated to foster the global subsea thermal insulation materials market growth. Conversely, depleting oil & gas reserves and increase in the crude oil prices may hinder the global market growth.

Global Subsea Thermal Insulation Materials Market: Segmentation

The global subsea thermal insulation materials market is classified based on the application, material, and geographical. The application segment includes equipment, pipe, pipe cover, joints, and others. The material segment includes polypropylene, silicone rubber, epoxy, polyurethane, aerogels, and others. Of these, polyurethane is widely preferred in the commercial insulation material owing to low flexibility and thermal conductivity properties. However, the installation of polyurethane foam is easier and cheaper. Syntactic polypropylene is the better alternative to polyurethane due to creep resistance and high melt strength. Geographically, the global market is fragmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Global Subsea Thermal Insulation Materials Market: Regional Analysis

Europe is one of the leading regions in the global subsea thermal insulation materials market, which accounted for the largest market share. North America is expected to grow abundantly. However, the Middle East & Africa show considerable growth in the global subsea thermal insulation materials market. This trend is followed by Latin America owing to expanding niche market in this region.

Global Subsea Thermal Insulation Materials Market: Competitive Players

Key players in the global subsea thermal insulation materials market include DOW Chemical Company, Advanced Insulation Plc, Trelleborg AB, Aspen Aerogels, Shawcor Ltd., Cabot Corporation, Afglobal Corporation, DOW Corning, and BASF.

Global Subsea Thermal Insulation Materials Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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