Insulation is a layer or coating of resistant material, which serves as a barrier to the targeted energy. Various industries use various types of insulation for the purpose of energy conservation and improve the efficiency of machines, systems, equipment and components. The tank insulations fulfil the purpose of protection and avoid energy loss from the body it is applied on to. Furthermore, the tank insulation is required to preserve the temperature inside the tank with any irregular shape.
Furthermore, the insulation is required to avoid sweating over the surfaces and for void free insulation also. On the industry level, the tank insulation system requires a jacketing and covering to reduce heat loss or heat gain for large, flat-bottomed tanks that store materials that are sensitive to temperature fluctuations. The insulation is used in several tank applications including, asphalt, crude & fire water tanks, thermal energy storage (TES) tanks, beverage & fermentation tanks, and equipment, coke drums & hot boxes.
North America tank insulation has a developing potential, growth in chemical manufacturing capacities and huge production of oil are expected to drive the demand for North America tank insulations during the forecast period. Furthermore, increasing demand for tank insulation from oil & gas, food and beverage, and energy & power industry owing to various properties such as fire resistant, moisture resistant, heat transfer resistant, and others, is a major factor expected to drive growth of the North America tank insulation market over the forecast period.
The North America tank insulation in studied in various key countries such as United States, Canada and Mexico. Among these, the North America tank insulation market was dominated by the United States in 2019. Owing to the rising demand for petrochemicals and their derivatives across application scopes such as tires, pharmaceuticals, high-tech materials, and paints among others across the region. Furthermore, U.S. has huge number of industries that are indulged in exploration for, production, refining, transportation, and commercialization of natural gas and petroleum products to the region and other parts of the country.
Prominent players in the global North America tank insulation market are Covestro AG, The Sherwin-Williams Company, PPG Industries, Akzonobel, BASF SE, Hempel, SIKA AG, Carboline, Rust-Oleum, Laticrete International, Indmar Coatings, Satyen Polymers, VIP Coatings Solutions, The Floor Company, Flexmar Polyaspartics, Prokem Speciality Chemicals, Lifetime Flooring Systems, Advantage Chemical Coatings, Rhino Lining Corporation, Shorecrete Coatings Llc, US Coatings and Polyset. New product launches, mergers & acquisitions are the key strategies adopted by market players to ensure their growth in the market.
The North America tank insulation market is segmented based on type, temperature, material, end use industry and country. Various types of tank insulations are storage tank insulation and transportation tank insulation. Furthermore, temperature comprises of cold insulation and hot insulation in tank insulation market. Likewise, major materials used in tank insulation are cellular glass, elastomeric foam, EPS, fiberglass, PU & PIR, rockwool and others. The tank insulation is used in various end use industries such as chemical, energy & power, food & beverage, oil & gas and others.
The North America comprises U.S., Canada and Mexico in tank insulation market. Among these, the North America tank insulation market was dominated by the United States in 2019. Owing to the rising demand for petrochemicals and their derivatives across application scopes such as tires, pharmaceuticals, high-tech materials, and paints among others across the region. Various industries in the United States offers tank insulation services for anhydrous ammonia, asphalt, beverages, biodiesel ,brewery, butane/propane, chemicals, ethanol, wastewater treatment, petrochemicals, chilled water, T.E.S. systems, fire protection etc.
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