According to a recent market study published by Growth Market Reports titled, “Global Aerogel-based Cryogenic Pipe Support Market by type, application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 2,040.0 thousand in 2019 and is expected to grow at a healthy growth rate of 6.4 % by the year 2027. Aerogel insulation can be very thin owing to thermal efficiency of the aerogel. This reduces the weight of the pipe system. Reduced size, thickness, and weight results in low installation cost of the entire pipe system. Furthermore, these pipe supports are hydrophobic, which prevents the moisture from getting into the insulation around the pipe. Various aerogel-based cryogenic pipe supports have modular designs where pipe supports are attached to the pipes off-site, post which the complete structure is safely brought to the site and attached to the system.

The global aerogel-based cryogenic pipe support market is fragmented based on type, application, and region. In terms of type, the market is segmented into resting, guided, hanger, anchor, and others. On the basis of application, the market is segmented into energy & power industry, petrochemical industry, oil & gas industry, and others. Based on region, the global aerogel-based cryogenic pipe support market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).

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In year 2020, the aerogel-based cryogenic pipe support market is expected to witness the decline of COVID 19 pandemic. The shutdown of production activities, restrictions on transportation activities, and temporary decline in demand for guard tour systems are some of the prime reasons responsible for this market trend. The recent outbreak of COVID-19 has had a huge impact on the overall market.

As per Growth Market Reports industry analyst Partha Paul, “The global aerogel-based cryogenic pipe support market is anticipated to witness significant growth during forecast period. However, fluctuation in the prices of raw material and growing availability of alternative product are key restraints of this market. Growing oil industry in Middle East, growth in R&D investment, thus boosting the growth of the market.”

Key Takeaways from the Study:

  • The U.S. based Rilco Manufacturing Inc, holds approximately 3/4th of market share of global aerogel-based cryogenic pipe support market in year 2019.
  • Latin America and Middle East & Africa accounts for a major share of the market, followed by North America. The market in Latin America and Middle East & Africa is projected to expand at highest CAGR during the forecast period.
  • In terms of value, the oil and gas segment is anticipated to expand at a significant CAGR during the forecast period. Petrochemical industry segment is anticipated to hold major share of the market. As production of oil and gas industry has increased, the processing of crude oil and gas in petrochemical industry is also on the rise, which is fueling the demand for pipe supports.
  • The hanger segment is projected to account for a highest market growth. The adoption of hanging support for pipes is increasing in small to large sized industries as pipes are hanged from the ceiling using hanger support.

Report Scope:

Report Metric

Details

Market Value in 2019

US$  2,040.0 Thousand

Market Growth Rate (from 2020 to 2027)

6.4 %

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (US$ Thousand)

Market Segments

By Type, By Application

Regional Scope

North America, Europe, Asia Pacific, Latin America and Middle East & Africa (LAMEA)

Key Companies Profiled

Rilco Manufacturing Inc, Defex New Materials Pvt. Ltd., Others

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Aerogel-based Cryogenic Pipe Support manufacturers (Oil & Gas Companies), raw material suppliers, primary respondents, and distributors.
  • Demand Side: Oil & Gas Industry, Energy & Power Industry, Hospital etc.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
  • Associations and Industry Bodies: The National Insulation Association® (NIA), Insulation Institute Association, North American Insulation Manufacturers Association, Thermal Insulation Manufacturers and Suppliers Association (TIMSA), Thermal Insulation Association of Canada, Eastern United States Pipe Band Association, Plastic Pipe and Fittings Association, The Midwest Pipe Band Association