Subsea Thermal Insulation Materials - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Subsea Thermal Insulation Materials Market is accounted for $73.23 million in 2017 and is expected to reach $120.85 million by 2026 growing at a CAGR of 5.7%. Improving of the oil & gas industry, increasing offshore exploration and the rising number of subsea projects are some of the factors fuelling market growth. However, the increase in crude oil prices is hindering the growth of the market.
Sub-sea thermal insulation is a protective thermal insulation coating applied to components subjected to cold deep water immersion. These materials are extensively used to insulate equipment, pipelines used in subsea oil & gas operations. Oil & gas exploration firms are venturing into deep-water regions and arctic environments owing to ever-escalating demand for oil & gas. Thermal insulation is too useful in some drilling applications.
Based on the type, polyurethane segment commanded significant growth during the forecast period. It is widely preferred in the commercial insulation material owing to low flexibility and thermal conductivity properties. The primary advantage of polyurethane is that it can sustain volatile temperatures even at the bottom of the ocean as it can cover unlimited depth and therefore, is used on wet insulation systems. By geography, Europe is anticipated to dominate the global market owing to increasing subsea projects for further exploration.
Some of the key players in the Subsea Thermal Insulation Materials market include BASF, Technipfmc, Advanced Insulation Plc, Cabot Corporation, Trelleborg Offshore & Construction, Dowdupont, Afglobal Corporation, Shawcor Ltd and Aspen Aerogels.
• Silicone Rubber
• Usage of Dicyclopentadiene (Dcpd)
• Other Types
End Users Covered:
• Government sector
• Other End Users
• Field Joints
• Pipe Cover
• Dry Application
• Wet Application
• Other Applications
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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