Cryogenic Insulation Market Size - Global Industry, Share, Analysis, Trends and Forecast 2025 - 2033

Cryogenic Insulation Market Highlights

• The global cryogenic insulation market is expected to reach USD 7.31 billion by 2033, with a CAGR of 6.9% from 2025 to 2033
• The Asia-Pacific market was valued at approximately USD 1.5 billion in 2024
• The Asia-Pacific market is projected to grow at a CAGR of over 7.5% from 2025 to 2033
• The energy & power end-use sub-segment accounted for 40% of the cryogenic insulation market share in 2024
• Rising government initiatives for energy efficiency and carbon reduction favor cryogenic insulation adoption is a popular cryogenic

insulation market trend that fuels the industry demand

The cryogenic insulation is a high performing material used to protect and reduce the energy leaks and offers high level of thermal isolation for applications operating below -75 degree Celsius. This is mainly used for transportation and storage of cryogenic gases such as liquid petroleum gas (LPG), liquid natural gas (LNG), and ethylene. Growing LNG terminals, transportation and storage of LNG and other LNG related applications required cryogenic insulation which further expected to boosts the demand for cryogenic market.

Global Cryogenic Insulation Market Dynamics

Market Drivers

• Growing demand for LNG transportation and storage boosts the need for advanced cryogenic insulation solutions Expanding applications
• in healthcare, including medical gas storage and cryopreservation
• Increasing industrial gas usage in electronics, metallurgy, and chemical industries accelerates insulation demand
• Rising investments in space exploration and aerospace fuel systems enhance cryogenic insulation adoption

Market Restraints

• High initial costs associated with cryogenic insulation materials and installation hinder market expansion
• Stringent safety regulations and complex handling requirements pose challenges to industry players
• Limited awareness and adoption in emerging economies slow down market penetration

Market Opportunities

• Advancements in aerogel and multilayer insulation technologies open new avenues for market growth
• Expansion of hydrogen energy infrastructure boosts demand for specialized cryogenic insulation systems
• Increasing LNG-powered transportation, including ships and trucks

Cryogenic Insulation Market Report Coverage

Cryogenic Insulation Market Insights

The increasing demand for alternative fuel coupled with the rising environmental awareness across the globe is primarily driving the market growth. Rising demand for transportation and storage of liquefied natural gas (LNG) in North America and Europe region is further bolstering the market growth. Increasing disposable income in developing economies and increasing investment in the development of LNG pipeline infrastructure are further accelerating the market value. Growing applications of cryogenic insulation in energy & power, chemicals, metallurgical, and electronics sectors is expected to drive the demand in the market.

On the flip side, fluctuating raw material costs and decrease in steel production are likely to hamper market growth. High cost of development in insulation is additionally expected to hinder the market growth. Whereas, the increasing investment energy sector, growing demand for alternative fuels, growing infrastructure development, and rise in demand for cryogenic technologies from aerospace applications is anticipated to create potential opportunities over the cryogenic insulation market forecast period.

Cryogenic Insulation Market Segmentation

The worldwide market for cryogenic insulation is split based on type, form, cryogenic equipment, end-use, and geography.

Cryogenic Insulation Market By Type

• PU & PIR
• Polystyrene
• Cellular Glass
• Perlite
• Fiberglass
• Others

According to cryogenic insulation industry analysis, in 2024, PU & PIR segment held the highest market share and the segment is also projected to maintain its dominance over the forecast period. The attributes which are supporting the growth of the segment is growing number of LNG terminals, growing transportation of liquefied gases, growing use of PU and PIR in various applications which includes tank and pipe insulation, refrigerators, and coolers.

Cryogenic Insulation Market By Form

• Bulk-Fill
• Multi-Layer
• Foam

The foam segment is the largest in the market, driven by its superior thermal resistance, durability, and widespread application across industries. Foam-based insulation, particularly polyurethane (PU), polyisocyanurate (PIR), and expanded polystyrene (EPS), is extensively used in LNG storage and transportation, industrial gas storage, and healthcare applications. Its lightweight nature, ease of installation, and cost-effectiveness make it the preferred choice for cryogenic environments requiring long-term thermal stability. Additionally, foam insulation provides excellent mechanical strength, reducing the risk of system failures in extreme cold conditions. With the rising demand for LNG infrastructure, hydrogen energy storage, and cryopreservation in healthcare, the foam segment continues to dominate, ensuring enhanced insulation efficiency and operational reliability.

Cryogenic Insulation Market By Cryogenic Equipment

• Tanks
• Vaporizers
• Valves
• Pumps
•  Others

Based on the cryogenic market analysis, in 2024, tank segment held the highest market share and the segment is also projected to maintain its dominance throughout the projection period from 2025 to 2033. The attributes which are supporting the growth of the segment is growing demand for storage and transportation of gases and liquids from energy and power industry.

Cryogenic Insulation Market By End-User

• Energy & Power
• Metallurgical
• Chemicals
• Shipping
• Electronics
• Others

According to cryogenic insulation market forecast period, in 2024, energy & power segment held the highest market share and the segment is also projected to maintain its dominance over the forecast period. The attributes which are supporting the growth of the segment is growing demand for energy and power in developing countries due to growing expansion of industrial and residential sector and growing demand for LNG across the globe.

Cryogenic Insulation Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of LATAM

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Cryogenic Insulation Market Regional Analysis

Asia-Pacific accounted for the largest market share and fastest growing region of the cryogenic insulation market and the region is also expected to maintain its dominance over the forecast period. The region is experiencing the maximum growth owing to growing foreign direct investment in manufacturing, energy and power sector, growing end use industries such as chemicals and energy and power, and rising infrastructure development, and growing demand for LNG. NA is followed by the Asia-Pacific region in the market.

Europe is expected to exhibit the noteworthy in the global market during the forecast period. The manufacturers are investing in Europe countries to meet the demand for end user industries. Growths of industries such as metallurgical, electronics, shipping are expected to enhance the market growth in the global market during the forecast.

North America is expected to hold the notable CAGR in the global market during the forecast period. The manufacturers are investing in North American countries to meet the demand for cryogenic insulation. The increased expenditure in innovation and growing investment in oil and gas sector are expected to enhance the market growth in the global market during the forecast. The US is expected to be the major contributor to the regional growth of market due to growing emergence of offshore exploration and is expected to see a significant demand for cryogenic insulation during the forecast period.

Cryogenic Insulation Market Players

Some of the top cryogenic insulation companies offered in our report include Flowserve Corporation, Fives, The Weir Group PLC, Nikkiso Co., Ltd, Phpk Technologies, Sulzer, Cryostar, SHI Cryogenics Group, Armacell LLC, Ebara Corporation, Lydall, Inc., INOXCVA, Vanzetti Engineering, and BASF SE.