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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