Vacuum Insulated Pipe Market Market Trends

  • Report ID: 5492
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Vacuum Insulated Pipe Market Market Trends

Growth Drivers

  • High Efficiency and Broad Applicability - Specifically, in particular, industries, like the pharmaceutical industry and the medical industry, cryogenic applications and vacuum-insulated pipes are matters of rigorous rules. The accessible space for cryogenic constructions is frequently limited, and bacterial pollution is unacceptable. For many end-users in these industries, vacuum insulation is the supreme solution. Associated with the suitable certification, people notice many vacuum-insulated systems in, for instance, biobanks (for cryopreservation) and pharmaceutical laboratories. Inside almost every cryogenic industry, applications are segregated implementing vacuum insulation. This makes the vacuum technology extremely helpful. Va-Q-tec, the specialist in thermal energy effectiveness, released the profitable market launch of the Ecoflex VIP. The vacuum-insulated piping system was created together with Uponor, one of the world’s suppliers of systems for hygienic drinking water installation and energy-competent heating and cooling. This benchmark-setting growth comes at a time when the entire world is talking about saving energy.
  • Limited Gas Loss While Using Vacuum-Insulated Pipe - In most cases, when a cryogenic liquid turns into gaseous because of poor insulation or a reveal in the system, the gas is lost. Accordingly, it leaves the system, whether or not through a quality modification product like an automatic gas vent or a degasser. Misplacing gas is costly; this can be evaded through the implementation of exact insulation. In comparison with other kinds of cryogenic insulation, vacuum insulation substantially limits gas establishment and gas loss. This signifies less waste and lower costs for the end-user. The demand for liquid Nitrogen is also growing which is transferred through vacuum insulated pipe.
  • Easy-To-Maintain While Using - Vacuum-insulated transfer lines are generated in the form of different pipe parts. A part is 6 meters on average and under the management of a cryogenic engineer, a total piping system is created by linking different pipe sections. This piping is vacuum-pumped part by part and assembled with the suitable couplings. This segmental technique of installation makes it simple to solve issues in the pipeline system. If one piece of piping shows concerns, for instance, in the form of a leak, then this section of the piping can simply be eliminated for repair.

Challenges

  • Shortage of Raw Materials - The German Association of Materials Management, Purchasing, and Logistics (BME) projected the shortages to proceed until the end of 2022. The reasons for the condition are said to be an unforeseen rise in demand for the Corona lockdowns, an uncommonly high number of cases of force majeure, and submission problems because of the issues in logistics. In line with the IAE, the transition to renewables needs to advance if the focus of keeping within the 1.5% emissions limitation is to be met. To accomplish this needs not only new potential but also effectiveness gains. This is why Sandvik Materials Technology and its Kanthal division are cooperating in the EU-funded Nextower project to advance solar power technology. One of the aims is to raise the temperature of kept heat from 550°C to 750°C, which would include replacing molten salt with molten lead. An iron-chromium-aluminium (FeCrAl) heat-resistant alloy by Kanthal is central to the project. 
  • The Increasing Beginning Cost of Manufacturing Vacuum-Insulated Pipe
  • Intricate Installation Techniques

Vacuum Insulated Pipe Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼5%

Base Year Market Size (2023)

∼USD 1 Billion

Forecast Year Market Size (2034)

∼USD 3 Billion

Regional Scope

  • Asia Pacific (Japan, India, China, Australia, Others)
  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)

 

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Author Credits:  Shweta Patidar


  • Report ID: 5492
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing demand for vacuum insulated pipes in people will majorly drive the market growth of the vacuum-insulated pipe market.

The market size of the vacuum insulated pipe market is expected to get a CAGR of almost 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Va-Q-tec AG, Chart Industries Inc., Cryofab Inc., Cryocomp, Acme Cryogenics Inc., Maxcon Industries Pty. Ltd., PHPK Technologies, Cryeng Group Pty Ltd., Demaco , Sempra Infrastructure, Tokyo Gas Co., Ltd. , MHI Environmental & Chemical Engineering Co., Ltd., Mitsubishi Heavy Industries, Ltd., Siemens Gamesa Renewable Energy SA.

The standard segment is anticipated to reap the largest market size by the end of 2036 and show substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
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