The market report on the Subsea Thermal Insulation Materials Market published by Stratview Research indicates lucrative growth opportunities in the Subsea Thermal Insulation Materials industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.

Subsea Thermal Insulation Materials Market Forecast:

The subsea thermal insulation materials market was estimated at USD 256.98 million in 2021 and is likely to grow at a CAGR of 4% during 2022-2028 to reach USD 339.1 million in 2028.

What is subsea thermal insulation?

Subsea thermal insulation is a protective thermal insulation coating that is applied to components subjected to cold deep-water immersion. These coatings provide thermal stability to the components and facilitate smooth operation under deep-water conditions. Subsea thermal insulation materials are mostly used in the oil & gas industries, the subsea thermal insulation materials prevent the solidification of petroleum products and ensure the seamless movement of the materials. Subsea thermal insulation materials are of different types, such as polyurethane, polypropylene, silicone rubber, epoxy, and aerogels. These materials are used in various applications, such as pipe-in-pipe, pipe covers, equipment, and field joints.

COVID-19 IMPACT

The spread of covid-19 negatively impacted the subsea thermal insulation materials market. The major factors leading to a decline in sales were supply-chain disruption and lockdowns and restrictions across the globe.

Market Drivers

The growth of the subsea thermal insulation materials market is primarily driven by-

• Increasing oil demand from developing economies further fuels the increasing production of oil,
• Expansion in the oil rig counts.

Report Customization and Custom Research

Stratview Research offers customization options to the users. Also, it provides custom research services across sectors. In case of any custom research requirement associated with market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at –

E-mail: [email protected] Direct: +1-313-307-4176

About Stratview Research –

Stratview Research is a leading market research firm that offers services like syndicated market reports, consulting, sourcing intelligence, and customer research, and much more. Stratview Research’s offerings also include comprehensive market intelligence in the form of research reports, and consulting services.