Cryogenic Pipes: Market Outlook
Cryogenic pipes are used in handling and transportation of materials at extremely low temperatures, going below -300° F. Cryogenic pipes help maintain the cryogenic temperature of material they are handling due to the special type of insulation on them, which reduces the temperature loss to surroundings. Vacuum insulation and foam type insulation are two of the main insulation types implemented in the fabrication of cryogenic pipes. Since cryogenic pipes possess unique capabilities to handle very low temperature gases, there is no substitute product available in the market to replace them. Hence the overall cryogenic pipes market is expected to witness robust growth in the coming years.
Cryogenic Pipes: Market Drivers
Cryogenic pipes play an important role in applications like transportation of Liquefied Natural Gas (LNG), liquid nitrogen, liquid helium, liquid oxygen and other gases. Due to this, cryogenic pipes are vital in aerospace, oil & gas, petrochemicals, food & beverage and healthcare, among other industries. LNG and Gas-to-Liquids (GTL) are one of the main industries that have an extensive use of cryogenic pipes, as the day-to-day operations involve continuous handling of cryogenic gases. With the growing energy demands, LNG industry is witnessing an influx of investments for further production of natural gas. This is expected to drive the cryogenic pipes market, to cater to the growing production and transportation of LNG.
Cryogenic gases also have a significant role in the daily operations of industries like food & beverage, pharmaceuticals and healthcare. Growing investments for modernization of hospital equipment is expected to drive the cryogenic pipes demand in the industry. Power generation industry is witnessing a shift towards the use of natural gas as energy source, to reduce carbon footprint on environment. This is projected to drive the demand for cryogenic pipes in power generation industry as well.
LNG, when converted from liquid to gaseous state, tends to expand by over 600 times. The gas will maintain its liquid state at temperatures less than -163° C, which can only be maintained by the use of special insulation material in cryogenic pipes. Hence manufactures are introducing new, effective insulation materials to differentiate their products from their competitors. Use of polyurethane foam and fiberglass jacket insulation are one of the prominent trends in the market, changing the cryogenic pipes market landscape.
However, cryogenic pipes require high labor and manufacturing costs to maintain highest product quality and flexibility. Also, there are a number of codes and standards in place, regulating the material selection, fabrication process, testing and ductility of the cryogenic pipes. These are expected to restrict the cryogenic pipes market growth in some key industries. But given its advantages and unique properties over other pipes, cryogenic pipes market is expected to witness robust growth in the coming years.
Cryogenic Pipes: Market Segmentation
The overall cryogenic pipes market can been segmented on the basis of insulation type as:
- Dynamic vacuum insulated cryogenic pipes
- Foam-insulated cryogenic pipes
The overall cryogenic pipes market can been segmented on the basis of cryogenic fluids as:
The overall cryogenic pipes market can been segmented on the basis of end use industry as:
- Oil & Gas
- Chemicals & Petrochemicals
- Power Generation
- Food & Beverage
Cryogenic Pipes market: Regional Outlook
North America and Europe and expected to lead the market share in the global cryogenic pipes market, due to the presence of a large number of its end use industries in the region. Growing investments in LNG exploration and production in India, China and Australia is projected to position Asia-Pacific as one of the high growth regions in the cryogenic pipes market. Middle East & Africa is expected to hold a modest share in the overall cryogenic pipes market, but is expected to witness substantial growth in the coming years, owing to growing number of end use industries in the region.
Cryogenic Pipes market: Market Participants
Some of the key market participants identified in the Cryogenic pipes market across the globe are:
- Cryotherm GmbH & Co. KG
- STI Group
- SAES Getters
- Criotec Impianti SpA
- Cryogas Tech Sdn Bhd
- Nexans Deutschland GmbH
- Technifab Products, Inc.
- Braemar Engineering
Brief Approach to Research
The research report presents a comprehensive assessment of the Cryogenic pipes market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Cryogenic pipes market segments such as geographies, application and industry.
The report covers exhaustive analysis on:
- Cryogenic pipes Market Segments
- Cryogenic pipes Market Dynamics
- Cryogenic pipes Market Size
- Cryogenic pipes Supply & Demand
- Cryogenic pipes Current Trends/Issues/Challenges
- Cryogenic pipes Competition & Companies involved
- Cryogenic pipes Technology
- Cryogenic pipes Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Cryogenic pipes market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Cryogenic pipes market segments and geographies.
- Detailed overview of Cryogenic pipes’ parent market
- Changing Cryogenic pipes market dynamics in the industry
- In-depth Cryogenic pipes market segmentation
- Historical, current and projected Cryogenic pipes market size in terms of volume and value
- Cryogenic pipes recent industry trends and developments
- Cryogenic pipes competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth in Cryogenic pipes market
- A neutral perspective on Cryogenic pipes market performance
- Must-have information for Cryogenic pipes market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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