The recent report published by Stratview Research on the Subsea Thermal Insulation Materials Market Report for the forecast period of 2022-2028 is a source of insightful data for business strategists. The report provides the industry an overview with growth analysis and historical, present, and future prices, revenue, demand, and supply data, etc. This market study provides in-depth data that enhances the understanding, scope, and application of this report.
Market Insights
The subsea thermal insulation materials market was estimated at USD 256.98 million in 2021 and is likely to grow at a CAGR of 4% during 2022-2028 to reach USD 339.1 million in 2028.
What is subsea thermal insulation?
Subsea thermal insulation is a protective thermal insulation coating that is applied to components subjected to cold deep-water immersion. These coatings provide thermal stability to the components and facilitate smooth operation under deep-water conditions. Subsea thermal insulation materials are mostly used in the oil & gas industries, the subsea thermal insulation materials prevent the solidification of petroleum products and ensure the seamless movement of the materials. Subsea thermal insulation materials are of different types, such as polyurethane, polypropylene, silicone rubber, epoxy, and aerogels. These materials are used in various applications, such as pipe-in-pipe, pipe covers, equipment, and field joints.
COVID-19 IMPACT
The spread of covid-19 negatively impacted the subsea thermal insulation materials market. The major factors leading to a decline in sales were supply-chain disruption and lockdowns and restrictions across the globe.
According to this report, the market of Subsea Thermal Insulation Materials is consolidated with a few players accounting for the majority of the market share. An analysis of the well-established players has been included in this report. The following are the key players in the Subsea Thermal Insulation Materials Market.
- Advanced Insulation Plc
- AFGlobal Corporation
- Aspen Aerogels
- BASF SE
- Cabot Corporation
- DowDuPont Inc.
- Shawcor Ltd
- TechnipFMC Plc
- Trelleborg AB
- Aegion Corporation.
Market Dynamics
The growth of the subsea thermal insulation materials market is primarily driven by-
- Increasing oil demand from developing economies further fuels the increasing production of oil,
- Expansion in the oil rig counts.
The experts at Stratview Research have precisely studied and assessed data on the Subsea Thermal Insulation Materials Market. several analytical tools have been used to evaluate the growth of the key players operating in the market.
Key Features: This report evaluates key market features, including revenue, supply/demand, gross value, production, consumption, market share, CAGR, and gross margin. In addition, the report offers a thorough study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Reasons to invest in this report –
This report answers several FAQs related to the market. Also provides customization according to the users’ requirements. Here are some queries, the answers to which can be found in this report –
l What are the key trends in the Subsea Thermal Insulation Materials Market?
l How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
l What is the impact of COVID-19 on the Subsea Thermal Insulation Materials Market?
l What are the key strategies adopted by the major vendors to lead in the Subsea Thermal Insulation Materials Market?
l What is the market share of the top vendors?
Company Profiling
- Detailed profiling of additional market players (up to three players)
- Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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About Stratview Research:
Stratview Research is a credible source for gaining market intelligence to exponentially accelerate the user’s business. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
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