Vacuum Insulated Pipe Market Forecasts to 2028 - Global Analysis By Product Type, Application, and By Geography

According to Stratistics MRC, the Global Vacuum Insulated Pipe Market is accounted for $1,058.8 million in 2022 and is expected to reach $1,611.3 million by 2028 growing at a CAGR of 7.25% during the forecast period. Vacuum insulated pipes are an effective way of transporting high-quality cryogenic liquids such as hydrogen, oxygen, and natural gas in a variety of industries. They are highly safe, dependable, and affordable. Vacuum insulated pipes also aid in the reduction of liquid cryogen loss due to heat leaks and increase process safety by reducing frosty and leaking circumstances. When compared to traditional foam-insulated copper piping, vacuum insulated pipes have a longer longevity.

Market Dynamics:

Driver:

Growing industrialization

Growing industrialization has increased market demand for vacuum insulated pipes. Huge need for vacuum insulated pipes is likely to drive demand throughout the forecast period in industries such as food and beverage, aerospace, food freezing, biological storage, and research. Vacuum insulated pipes are utilised on launch pads in the aerospace industry to deliver exceptionally high flow rates of liquid hydrogen and oxygen to fuel numerous space programmes. Vacuum insulated pipes aid in the reliable delivery of liquid nitrogen in the food and beverage sectors, allowing equipment to operate at full efficiency for maximum production. In addition, an increase in present and planned industrial projects is driving market demand for vacuum insulated pipes.

Restraint:

Cryogenic liquids are transported at extremely low temperatures, posing a number of hazards including fire, explosions, material embrittlement, and others. Contact with these liquids results in heat burns, injury, and damage to the lungs and other bodily parts. Increasing concerns among organisations about gas leaks, which could have unanticipated consequences, may stymie industry growth.

Opportunity:

Increasing use in the aerospace industry

Rising aerospace spending and the burgeoning food processing industry will drive demand for vacuum-insulated pipes developed for specialised purposes. Leading industry players are also deploying cutting-edge technology in response to specific client needs to provide dependable, effective, and adaptive services, which create wide range of opportunities for the market growth.

Threat:

Volatile prices

The uneven recovery from the COVID-19 pandemic in various industries and locations is a critical issue in understanding and analysing the pipe insulation market environment. The pipe insulation sector is plagued by numerous issues, the most prominent of which is the fluctuating price of plastic foams. Price fluctuations in plastic foams are likely to stymie market expansion due to changes in crude oil costs in the international business thus impeding the market growth.

COVID-19 Impact:

The pandemic originally had a detrimental impact on the revenue of the vacuum insulated pipe sector. The commencement of COVID-19 put a major pressure on the existing healthcare infrastructure, necessitating enormous expenditures in the construction of new hospitals, nursing homes, and clinics. In contrast, massive renovations to existing healthcare infrastructure to accommodate more patients have boosted product demand. Furthermore, with the drop in infection rates and the restart of industrial and construction operations, the market is expected to gain speed as a result of a renewed emphasis on implementing renewable energy sources internationally.

The customized vacuum insulated pipe segment is expected to be the largest during the forecast period

The customized vacuum insulated pipe segment is estimated to have a lucrative growth; due to the recommended method for carrying cryogenic liquids is vacuum-insulated pipe (VIP), which is unrivalled in terms of safety, dependability, and cost-effectiveness. Vacuum-insulated piping is the most efficient alternative for storage, transfer, or final use. The piping is made up of a prefabricated inner line and an outer jacket. The cryogenic fluid is carried via the inner line, while a vacuum space between the inner and outer pipes offers insulation that reduces heat transfer and boil-off gas (BOG). A multi-layer superinsulation, internal gettering material, and High Vacuum are used to create the vacuum annular area which drives the market.

The cryogenics segment is expected to have the highest CAGR during the forecast period

The cryogenics segment is anticipated to witness the highest CAGR growth during the forecast period, due to its critical usage in supplying effective cryogenic liquid piping in industrial plants. Vacuum jacketed piping is a sort of tube equipment that is perfect for moving liquid cryogen compounds required by many types of industrial plants, whether indoors or outdoors. It is used to carry cryogenic gases in liquid form, such as liquid oxygen, liquid nitrogen, liquid helium, and other forms of technical gases. It is also known as vacuum insulated pipe, VJ piping, and vacuum jacketed tubing. These installations are able to avoid heat transfer processes and heat leaks due to their particular design, allowing them to preserve substances at the necessary cryogenic temperatures thereby enhancing the growth of the market.

Region with highest share:

North America is projected to hold the highest market share during the forecast period owing to this is due to a variety of factors, including increased industrialization and infrastructural investment, as well as increased demand from oil and gas businesses. This is attributable to a variety of causes, including slow economic growth and insufficient infrastructure development. The oil and gas industry is growing its demand for vacuum insulated pipe as exploration and production activities in this region expand.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to increased industrialization and use of vacuum insulated pipes in numerous industries for various purposes, Asia Pacific is expected to lead the worldwide vacuum insulated pipe market. Manufacturers, on the other hand, are investing in R&D and manufacturing vacuum insulated pipes that are long-lasting and resistant to UV deterioration partitions in response to client demand, which is projected to produce a strong market for vacuum insulated pipes over the forecast period.

Key players in the market:

Some of the key players profiled in the Vacuum Insulated Pipe Market include: Vacuum Barrier Corporation, Demaco, Cryoworld, Cryofab, Cryo Anlagenbau GmbH, BRUGG Group, Cryogas Equipment Pvt. Ltd, Schwanner GmbH, Maxcon Industries Pty. Ltd, CRYOSPAIN, Acme Cryogenics, Sps Cryogenics B.V., Air Liquide, Kelvin Technology, Thames Cryogenics Ltd, TMK and Senior Flexonics

Key Developments:

In Dec 2021, Acme Cryogenics, Inc. has completed its acquisition with dover The businesses supply engineered components such as valves, regulators, vacuum, jacketed piping, fittings, safety devices, liquefied natural gas fueling components, and other specialty flow control devices.

In Dec 2020, Kelvin Nanotechnology is partnering with the Quantum Circuit Group at the University of Glasgow; the project consortium is completed by Oxford Instruments Plasma Technology in the UK and the Universite de Sherbrooke in Canada.

In Dec 2014, Cryofab Inc announced the acquisition of Cryocomp Inc., California-based cryogenic valves suppliers, who also specialize in vacuum valve assemblies. The new company will retain the Cryocomp Inc. name as a wholly-owned subsidiary of Cryofab.

Product Types Covered:

• Customized Vacuum Insulated Pipe
• Standard Vacuum Insulated Pipe

Applications Covered:

• Aerospace
• Cryogenics
• Thermal Vacuum Chambers
• Electronic Manufacturing & Testing
• Food & Beverages
• Healthcare
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances