Stratview Research has published a new market research report titled Subsea Thermal Insulation Materials Market. According to the report, the Subsea Thermal Insulation Materials Market is Segmented by Material Type (Polyurethane, Polypropylene, Silicone Rubber, Epoxy, Aerogel, and Others), by Application Type (Pipe-in-Pipe, Pipe Cover, Equipment, Field Joints, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

The facts and information mentioned in the report have been gathered by thorough analysis and rigorous primary interviews with the market’s key players in order to collect quality and trustworthy data. Based on primary interviews across the value chain of the Subsea Thermal Insulation Materials Market as well as an extensive study of the previous downturns,

Stratview Research has concluded that 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.

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.

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.

Segment Analysis

Based on the material type, the market is segmented as polyurethane, polypropylene, silicone rubber, epoxy, aerogels, and others. The polyurethane segment captured the largest share of the market in 2021 and is expected to lead the market during the forecast period as well. Owing to low flexibility and thermal conductivity properties, polyurethane material is widely preferred for insulation purposes, which is attributed to the growth of the segment.

Based on the application type, the subsea thermal insulation materials market is segmented as pipe-in-pipe, pipe cover, equipment, field joints, and others. The pipe cover segment dominates the market, as pipe covers are majorly used for covering straight pipelines for thermal insulation purposes.

In terms of regions, Europe is estimated to be the largest market for subsea thermal insulation materials during the forecast period, with Germany, France, the UK, and Russia being the major countries with promising growth opportunities. The growth of the European market is bolstered by the increasing deep-water projects along with increasing exploration activity in the Arctic region. The region’s increasing subsea oil & gas projects are also impending high growth in the European market. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Report Customization Options

With this detailed report, Stratview Research offers one of the following customization options to the users -

Company Profiling -Detailed profiling of additional market players.

Competitive Benchmarking

The benefits of competitive benchmarking are clear: By comparing their performance to their competitors, users can catch trends early and adjust their marketing goals accordingly. This report provides authentic competitive benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Key players

The key players active in the Subsea Thermal Insulation Materials Market mentioned in the report are as follows -

  • Advanced Insulation Plc
  • AFGlobal Corporation
  • Aspen Aerogels
  • BASF SE
  • Cabot Corporation
  • DowDuPont Inc.
  • Shawcor Ltd
  • TechnipFMC Plc
  • Trelleborg AB
  • Aegion Corporation.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

FAQs in the Report-

What will be the size of Subsea Thermal Insulation Materials Market in the foreseeable years?

Who are the key players in the Subsea Thermal Insulation Materials Market?

Which country/region is expected to at highest rate in the Subsea Thermal Insulation Materials Market?

Which Application type is expected to remain dominant in the Subsea Thermal Insulation Materials Market?

What does the supply chain of Subsea Thermal Insulation Materials Market comprise of?

Which region is expected to maintain its leading position in the market?

About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries. With this report, Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com or connect with our experts at - +1-313-307-4176.