Global Subsea Thermal Insulation Materials Market
- POSTED ON Monday, May 17, 2021
Global Subsea Thermal Insulation Materials Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Subsea Thermal Insulation Materials market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Subsea Thermal Insulation Materials market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Sub-sea thermal insulation is a covered insulation coating applied to components subjected to cold deep water immersion. This coating be responsible for thermal stability to the components and facilitates smooth operation under Deepwater. Many components, systems, and sub-sea pipes are used in the oil & gas applications. When subsea thermal insulation is not in presence, the oil flowing in these components gets cooled and starts to hydrate, resulting in waxy deposits and restricting the oil flow. 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. The key components of the subsea thermal insulation are epoxy, polyurethane, and polypropylene and few other components are also used in subsea thermal insulation such as silicone rubber and aerogels.
The market is driven by key factors such as steady recovery of the oil & gas industry, decrease in costs related to offshore oil & gas projects, and rising Deepwater & ultra-Deepwater projects. Fluctuations in crude oil prices are anticipated to restrain market growth. The development and innovation of new technologies for portable mobile production unit are likely to be expected to drive the demand for subsea thermal insulation materials. Mobile production unit is a mobile coating facilities services which provides for thermal insulation, passive fire protection and corrosion protection coatings.
Based on type, epoxy type segment is anticipated to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The epoxy material is an electrical insulation and good conductor of heat than air. Epoxy has the highest level of protection to the environments such as deep sea, space and chemical plant equipment. The material type segment consist of polypropylene, silicone rubber, epoxy, polyurethane, aerogels, and Aerogel. The widely used epoxy syntactic foam systems specially, for subsea wet insulation is emerging rapidly. This material can handle a wide range of temperatures and is well suited for hot and wet service conditions.
Based on application, the pipe cover segment is anticipated to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. Pipe covers are straight pipelines protects with thermal insulation materials. Kinds of pipelines that can be insulated include carbon steel, carbon steel with stainless steel liner, clad steel, super martensitic stainless steel, and duplex stainless steel. A major driver of this segment is the rise in deep water and ultra-deep water projects across the worldwide.
Geographically, Europe is a develop market, followed by South America. The demand in the area is high owing to the presence and development of end-use application for the product. Europe and Russia holds the largest shares for subsea thermal insulation materials market, globally. Due to fall in crude oil prices since 2015-2016, there has been a significant backlogs of offshore projects in the region. The continuation of these projects and starting of newer projects from 2017 are predictable to lead to the growth of the European oil companies’ purchase for subsea operations, which in turn, is expected to drive the market for subsea thermal insulation materials in this region. North America is expected to grow moderate and the Middle East & Africa show substantial growth in the global subsea thermal insulation materials market.
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Global Subsea Thermal Insulation Materials Market, by Type:
• Polyurethane• Polypropylene• Silicone Rubber• Epoxy• AerogelGlobal Subsea Thermal Insulation Materials Market, by Application:
• Pipe-in-Pipe• Pipe Cover• Equipment• Field Joints• OthersGlobal Subsea Thermal Insulation Materials Market, by Region:
• North America• Europe• Middle East & Africa• Asia Pacific• South AmericaKey Players Operating In Global Subsea Thermal Insulation Materials Market:
• BASF• Advanced Insulation• AFGlobal• Aspen Aerogels• Cabot Corporation• DowDuPont• Shawcor Ltd.• TechnipFMC• Trelleborg Offshore & Construction
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