Storage Tank Insulation Market worth $2.60 Billion by 2027

Chicago, Sept. 05, 2022 (GLOBE NEWSWIRE) — The Storage Tank Insulation Market is projected to reach USD 2.60 billion by 2027, at a CAGR of 4.6% from USD 2.08 billion in 2022, according to a new exclusive report by MarketsandMarkets™. Storage tanks are static or fixed tanks that are used for storage and processing in various industries such as oil & gas, food & beverage, chemical, and energy & power. These tanks are widely used for storing oil and LNG in the oil & gas industry. The storage capacity and size of the tank has been increasing over time.

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Browse in-depth TOC on “Storage tank insulation Market”
254 – Tables
65 – Figures

List of Key Players in Storage Tank Insulation Market:

1. Rockwool International A/S (Denmark),
2. Owens Corning (US),
3. Saint-Gobain (France),
4. Kingspan Group PLC (Republic of Ireland),
5. Armacell International S.A. (Germany),
6. Cabot Corporation (US),
7. Johns Manville (US),
8. Knauf Insulation (US), and
9. BASF SE (Germany) have undertaken various strategies in the storage tank insulation market.

Market Dynamics:

1. Driver: Increased demand from oil & gas and chemical industries
2. Restraints: High capital investment
3. Opportunities: Growing use of renewable insulation materials
4. Challenges: Complex installation process

Key findings of the Study:

1. Rockwool was the largest material type for storage tank insulation market in 2021, in terms of value
2. Oil & Gas was the largest…