Top Cryogenic Insulation Companies

Global Cryogenic Insulation Market size was valued at USD 4.11 Billion in 2023 and is poised to grow from USD 4.44 Billion in 2024 to USD 7.60 Billion by 2032, growing at a CAGR of 7.07% during the forecast period (2025-2032).

The global cryogenic insulation industry is highly competitive, characterized by the presence of major global players and emerging local businesses. Market leaders focus on technological innovation, processes and product diversification to maintain their competitiveness and meet the growing demand in various industries such as LNG, industrial gas, healthcare etc. Companies such as Cryostar, Elliott Group, Atlas Copco AB and Nikkiso Co. are marketing their extensive portfolio of advanced cryogenic solutions. 'Nikkiso Co., Ltd (Japan)', 'SHI Cryogenics Group (Japan)', 'Ebara Corporation (Japan)', 'The Weir Group PLC (Scotland)', 'Fives (France)', 'Sulzer (Switzerland)', 'Flowserve Corporation (U.S.)', 'INOXCVA (India)', 'Cryostar (France)', 'Phpk Technologies (U.S.)', 'Vanzetti Engineering (Italy)', 'Armacell LLC', 'Lydall, Inc.', 'BASF SE', 'Cabot Corporation', 'Röchling SE & Co. KG', 'Johns Manville'

The demand for clean and environmentally friendly energy sources is one of the major factors fueling growth in the cryogenic insulation industry. An increase in CO2 emissions has accompanied a rise in economic activity. CO2 emissions have been reduced due to efforts to switch to renewable energy and decarbonize the power system. Natural gas provides a cheap, clean option in place of fossil fuels like diesel, petrol and fuel oil.

Growth in Aerospace Industry Boosts Cryogenic Insulation Market: The growing aerospace industry is expected to propel the growth of the cryogenic insulation market going forward. The aerospace industry is a sector that deals with vehicular flight within and beyond Earth's atmosphere and encompasses research, development, design, manufacturing, operation, and maintenance of both aircraft and spacecraft. Cryogenic insulation in the aerospace industry is crucial for maintaining extremely low temperatures in propulsion systems, fuel storage, and spacecraft components, ensuring optimal performance.

The North America region dominated the cryogenic insulation market. In the upcoming years, market demand will be further fuelled by the extensive use of cryogenic insulation in the liquefied natural gas sector. Additionally, the elevated level of environmental consciousness is a driving force in the sector. The escalating need for LNG across several industries will fuel demand for storage and transportation, which will then fuel demand across the local economy.