Marine Insulation Industry Report provides an in-depth analysis of the current trends, market growth and future estimations.

Chicago, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Marine Insulation Market is projected to reach USD 380.0 million by 2027, at a CAGR of 4.2% from USD 322.3 million in 2022, according to a new report by MarketsandMarkets™. Marine insulation refers to the items or systems that are used to preserve and sustain the process conditions of deep-sea drilling and exploration equipment, joints, and pipes. Thermal insulation beneath the sea protects flow lines and equipment from corrosion, keeps the flow temperature constant, and keeps foreign particles out. The dynamics of offshore drilling activities across the world have a big impact on market demand for marine insulation. Furthermore, as ultra-deep water drilling activities increase, the demand for insulation products that can endure the extreme conditions found at deeper horizons is projected to drive the market for marine insulation.

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Browse in-depth TOC on the report “Marine insulation Market” 231 - Market Data Tables 79 - Figures

List of Key Players in Marine Insulation Market are:

Kingwell World Industries, Inc. (US),

Driver: The regained stability of crude oil prices to drive the market

Restraints: Low awareness regarding the usage of insulation products

Opportunities: New and innovative materials providing high-quality insulation capabilities can drive the growth of market

Key Findings of the Study:

Mineral wool was the largest type of marine insulation market in 2021, in terms of value

Deck was the largest application for marine insulation market in 2021, in terms of value

Asia Pacific was the largest market for Marine insulation in 2021, in terms of value.

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“Mineral wool was the largest type of marine insulation market in 2021, in terms of value”

Mineral wool can be considered as an inorganic insulating material. It contains an average of about 75% post-industrial recycled materials and does not require additional chemicals to be fire-resistant. Mineral wool is naturally moisture-resistant and retains its insulating qualities even when wet. Mineral wool is also effective in blocking sound more efficiently, so the interior of a building suffers less acoustic invasion.

“Deck was the largest application for marine insulation market in 2021, in terms of value”

The insulation of a roof is just as important as the outer material. Insulation material is important to the longevity of your deck system and has been used since ages. Over the years, insulation has changed and adapted, but its purpose is the same; keeping heat inside when you need it and outside when you don’t.

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“Asia Pacific was the largest market for Marine insulation in 2021, in terms of value.”

Asia Pacific accounted for the largest market share in the global subsea thermal insulation market in 2021 as a result of increasing offshore exploration activities in developing economies such as India, China, and Southeast Asian countries such as Vietnam, Malaysia, and Indonesia.

Browse Adjacent Markets: Foam and Insulation Market Research Reports & Consulting

Industrial Insulation Market by Form (Pipe, Blanket, Board), Material (Mineral Wool, Calcium Silicate, Plastic Foams), End-use Industry (Power, Oil & Gas, Chemical & Petrochemical, Cement, Food & Beverage), and Region - Global Forecast to 2025

High Temperature Insulation Materials Market by Material Type (Ceramic Fibers, Insulating Firebricks, Calcium Silicate), End-use Industry (Petrochemical, Ceramic, Glass), Temperature Range, and Region - Global Forecast to 2024

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