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Pulished Date February, 2020
ID: 8178
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Subsea Thermal Insulation Materials Market by Type (Polypropylene, Polyurethane, Silicone Rubber, Aerogel, Epoxy), Application (Pipe Cover, Field Joints, Pipe-in-Pipe, Equipment) and Region( Latin America, North America, Asia Pacific, Europe, Middle East and Africa) - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2020–2025)

Pulished: February, 2020
ID: 8178
Pages: 170

Subsea Thermal Insulation Materials Market Report 

The global Subsea Thermal Insulation Materials Market is expected to rise from nearly $ 77 million in 2019 to over $ 93 million in 2025, at an annual rate of 4.5% during the forecast period from 2020 to 2025.

Subsea thermal insulation is a layer of protective applied to components that undergo immersion in cold and deep water. This coating provides thermal stability to the components and facilitates trouble-free operation in deep water. Several different subsea components, systems, and pipelines are used in oil and gas applications. In the absence of subsea thermal insulation, the oil circulating in these components cools and begins to hydrate, causing waxy deposits and restricting oil flow. These coatings provide thermal stability to components and facilitate proper operation in deep water conditions. Mainly used in the oil and gas industries, these coatings prevent the solidification of oil production by ensuring the perfect movement of materials. More and more exploration companies venture into the icy waters of the Arctic region. As a result, the increasing number of underwater projects is spurring the adoption of subsea thermal insulation materials.

Insulation materials used in many applications, including construction, industry, and oil and gas. Subsea thermal insulation is a coating for components intended for immersion in cold, deep water. The underwater temperature of the pipes falls below the starting temperature of the hydrate that blocks the pipe. The increasing complexities of offshore oil spills and numerous offshore oil platforms in the past have influenced new regulations. The new regulations have framed strict guidelines for certain specific areas, including a piping system based on design, insulation, installation, and maintenance.

Recent Developments 

  • Trelleborg launches its thermal insulation portfolio. Trelleborg has consolidated its range of high performance thermal insulation materials into one brand: Vikotherm. The company presented this new agreement to the ONS in Stavanger.

  • NORTHBOROUGH, Massachusetts, July 17, Aspen Aerogels, Inc. announced the launch of its latest innovation in airgel insulation technology: Pyrogel® HPS. Pyrogel HPS is a high-temperature airgel blanket designed to provide thermal conductivity and advanced economic performance at operating temperatures up to 650°C (1200°F).

Subsea Thermal Insulation Materials Market Drivers and Restraints

The increasing number of underwater projects is spurring the adoption of subsea thermal insulation materials. Subsea thermal insulation materials are tolerant to wide-range materials and are applicable for many applications. This is a crucial element driving the growth of the global subsea thermal insulation materials market. Some of the main drivers of the worldwide business comprise the recovery in the international oil and gas industry and the hike in the number of subsea projects. Subsea thermal insulation materials are widely used to isolate equipment and pipes used in subsea oil and gas operations. The main growth factor in the subsea thermal insulation materials market is the increasing call from the oil and gas industries.

Oil exploration companies must drill in deep water and in the Arctic region for oil and gas. This should stimulate the world market in the coming years. However, there is no viable alternative to existing insulation techniques, stimulating growth in the global market for subsea thermal insulation materials. Companies are focused on launching new products or techniques on the world market to increase their existing production capacities, which should stimulate growth in the world market. Furthermore, a better supply of customers with increasing applications in subsea thermal insulation materials could supply the world market in the coming years. They actively try to respond to the main market niches and less explored markets in the different regions. This should encourage the growth of the world market for subsea thermal insulation materials. Conversely, depleting oil and gas reserves and rising crude oil prices may hinder growth in the worldwide market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2020 - 2025

CAGR

4.5%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Advanced Insulation (UK), AFGlobal (US), Aspen Aerogels (US), BASF (Germany), Cabot Corporation (US), DowDuPont (US), Shawcor Ltd. (Canada), TechnipFMC (UK), and Trelleborg Offshore & Construction (Sweden)

Subsea Thermal Insulation Materials Market

Subsea Thermal Insulation Materials Market Segmentation is categorized as follows.

On the basis of Type

  • Polyurethane
  • Polypropylene
  • Silicone Rubber
  • Epoxy
  • Aerogels
  • others

The polyurethane segment accounted for the substantial share during the outlook period. Polyurethane's popularity as an insulating material is due to its ability to improve the appearance of a product and increase its shelf life.

On the basis of Application

  • Pipe-In-Pipe
  • Pipe Cover
  • Equipment
  • Filed Joints
  • others

Pipeline coating is expected to be the fastest growing subsea thermal insulation application during the estimated period. Subsea thermal insulation materials are used to insulate pipes. Pipelines are an integral part of oil and gas projects and are used to transport fluids.

On the basis of Region

  • North America Subsea Thermal Insulation Materials Industry includes U.S, Canada.

  • Europe Subsea Thermal Insulation Materials Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Subsea Thermal Insulation Materials Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Subsea Thermal Insulation Materials Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • Middle East & Africa Subsea Thermal Insulation Materials Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Of these, Europe is expected to dominate the world market for subsea thermal insulation materials due to the growth of subsea projects for further exploration. Additionally, growth in shale gas production and deepwater exploration to improve gas production are driving growth in the subsea thermal insulation materials market. Europe is one of the main regions of the world market for subsea thermal insulation materials, which had the largest market share. North America is expected to experience abundant growth. However, the Middle East and Africa are showing considerable growth in the global market for subsea thermal insulation materials. Latin America follows this trend due to the expansion of the market niche in this region.

The surge in the number of deep water projects along with the augmented explorations in the Arctic region have supported the European region to dominate the market for subsea thermal insulation materials in 2018. The North American region remained an important part of the world market due to the increase in the number of deep water exploration activities in the Gulf of Mexico and the Baffin Bay region. The Middle East and Africa area is projected to grow at the fastest CAGR of 5.6% in terms of revenue during the forecast period. Increased spending on exploration and development of offshore oil fields in Angola and Nigeria is expected to be a major driver of demand for subsea thermal insulation materials in the Middle East and Africa.

Impact of COVID-19 on Subsea Thermal Insulation Materials Market:

The energy industry is one of the affected sectors due to the pandemic cause by Covid-19. With the entire world brought to lock down, all the manufacturing units have been shutdown, which resulted in the decline of sales. The impact of this pandemic is touted to continue for some time in future, affecting the overall sales and revenue in the global subsea thermal insulation materials market.

Key Players:

The dominating players in the subsea thermal insulation materials industry are Advanced Insulation (UK), AFGlobal (US), Aspen Aerogels (US), BASF (Germany), Cabot Corporation (US), DowDuPont (US), Shawcor Ltd. (Canada), TechnipFMC (UK), and Trelleborg Offshore & Construction (Sweden)

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Polypropylene       

                                5.1.3 Polyurethane         

                                5.1.4 Silicone Rubber     

                                5.1.5 Aerogel    

                                5.1.6 Epoxy        

                                5.1.8 Y-o-Y Growth Analysis, By Type     

                                5.1.9 Market Attractiveness Analysis, By Type   

                                5.1.10 Market Share Analysis, By Type   

                5.2 Application                 

                                5.2.1 Introduction           

                                5.2.2 Pipe Cover              

                                5.2.3 Field Joints              

                                5.2.4 Pipe in Pipe             

                                5.2.5 Equipment              

                                5.2.7 Y-o-Y Growth Analysis, By Application         

                                5.2.8 Market Attractiveness Analysis, By Appliation         

                                5.2.9 Market Share Analysis, By Application        

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Type

                                                6.1.3.4 By Application

                                                6.1.3.5 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Type

                                                6.1.4.4 By Application

                                                6.1.4.5 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Type

                                                6.1.5.4 By Application

                                                6.1.5.5 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 BASF                              

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Advanced Insulation                               

                8.3 TechnipFMC                               

                8.4 Trelleborg Offshore & Construction                 

                8.5 AFGlobal                      

                8.6 Shawcor Ltd.                              

                8.7 Aspen Aerogels                        

                8.8 Dow DuPont                              

                8.9 Cabot Corporation                   

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  1. Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  2. Segment-level analysis in terms of by type,by application along with market size forecasts and estimations to detect key areas of industry growth in detail

  3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  5. Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  9. Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Subsea Thermal Insulation Materials Market By Region, From 2020-2025 ( USD Million )

  2. Global Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  3. Global Polypropylene Market By Region, From 2020-2025 ( USD Million )

  4. Global Polyurethane Market By Region, From 2020-2025 ( USD Million )

  5. Global Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  6. Global Aerogel Market By Region, From 2020-2025 ( USD Million )

  7. Global Epoxy Market By Region, From 2020-2025 ( USD Million )

  8. Global Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  9. Global Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  10. Global Field Joints Market By Region, From 2020-2025 ( USD Million )

  11. Global Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  12. Global Equipment Market By Region, From 2020-2025 ( USD Million )

  13. North America Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  14. North America Polypropylene Market By Region, From 2020-2025 ( USD Million )

  15. North America Polyurethane Market By Region, From 2020-2025 ( USD Million )

  16. North America Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  17. North America Aerogel Market By Region, From 2020-2025 ( USD Million )

  18. North America Epoxy Market By Region, From 2020-2025 ( USD Million )

  19. North America Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  20. North America Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  21. North America Field Joints Market By Region, From 2020-2025 ( USD Million )

  22. North America Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  23. North America Equipment Market By Region, From 2020-2025 ( USD Million )

  24. United States Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  25. United States Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  26. Canada Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  27. Canada Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  28. Europe Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  29. Europe Polypropylene Market By Region, From 2020-2025 ( USD Million )

  30. Europe Polyurethane Market By Region, From 2020-2025 ( USD Million )

  31. Europe Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  32. Europe Aerogel Market By Region, From 2020-2025 ( USD Million )

  33. Europe Epoxy Market By Region, From 2020-2025 ( USD Million )

  34. Europe Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  35. Europe Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  36. Europe Field Joints Market By Region, From 2020-2025 ( USD Million )

  37. Europe Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  38. Europe Equipment Market By Region, From 2020-2025 ( USD Million )

  39. U.K. Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  40. U.K. Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  41. Germany Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  42. Germany Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  43. France Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  44. France Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  45. Italy Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  46. Italy Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  47. Spain Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  48. Spain Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  49. Asia Pacific Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  50. Asia Pacific Polypropylene Market By Region, From 2020-2025 ( USD Million )

  51. Asia Pacific Polyurethane Market By Region, From 2020-2025 ( USD Million )

  52. Asia Pacific Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  53. Asia Pacific Aerogel Market By Region, From 2020-2025 ( USD Million )

  54. Asia Pacific Epoxy Market By Region, From 2020-2025 ( USD Million )

  55. Asia Pacific Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  56. Asia Pacific Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  57. Asia Pacific Field Joints Market By Region, From 2020-2025 ( USD Million )

  58. Asia Pacific Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  59. Asia Pacific Equipment Market By Region, From 2020-2025 ( USD Million )

  60. Japan Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  61. Japan Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  62. China Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  63. China Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  64. India Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  65. India Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  66. Australia Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  67. Australia Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  68. South Korea Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  69. South Korea Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  70. Latin America Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  71. Latin America Polypropylene Market By Region, From 2020-2025 ( USD Million )

  72. Latin America Polyurethane Market By Region, From 2020-2025 ( USD Million )

  73. Latin America Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  74. Latin America Aerogel Market By Region, From 2020-2025 ( USD Million )

  75. Latin America Epoxy Market By Region, From 2020-2025 ( USD Million )

  76. Latin America Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  77. Latin America Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  78. Latin America Field Joints Market By Region, From 2020-2025 ( USD Million )

  79. Latin America Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  80. Latin America Equipment Market By Region, From 2020-2025 ( USD Million )

  81. Brazil Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  82. Brazil Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  83. Argentina Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  84. Argentina Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  85. Mexico Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  86. Mexico Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  87. Rest of Latin America Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  88. Rest of Latin America Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  89. Middle East and Africa Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  90. Middle East and Africa Polypropylene Market By Region, From 2020-2025 ( USD Million )

  91. Middle East and Africa Polyurethane Market By Region, From 2020-2025 ( USD Million )

  92. Middle East and Africa Silicone Rubber Market By Region, From 2020-2025 ( USD Million )

  93. Middle East and Africa Aerogel Market By Region, From 2020-2025 ( USD Million )

  94. Middle East and Africa Epoxy Market By Region, From 2020-2025 ( USD Million )

  95. Middle East and Africa Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  96. Middle East and Africa Pipe Cover Market By Region, From 2020-2025 ( USD Million )

  97. Middle East and Africa Field Joints Market By Region, From 2020-2025 ( USD Million )

  98. Middle East and Africa Pipe in Pipe Market By Region, From 2020-2025 ( USD Million )

  99. Middle East and Africa Equipment Market By Region, From 2020-2025 ( USD Million )

  100. Middle East Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  101. Middle East Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

  102. Africa Subsea Thermal Insulation Materials Market By Type, From 2020-2025 ( USD Million )

  103. Africa Subsea Thermal Insulation Materials Market By Application, From 2020-2025 ( USD Million )

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