Cryogenic Segment to Dominate APAC Vacuum Insulated Pipe Market during 2021–2028

According to a new market research study on “APAC Vacuum Insulated Pipe Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application” is expected to reach US$ 499.77 million by 2028 from US$ 315.43 million in 2021. The market is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report provides trends prevailing in the APAC vacuum insulated pipe market along with the drivers and restraints pertaining to the market growth. Discovery of new oil & gas reserves is the major factor driving the growth of the APAC vacuum insulated pipe market. However, issues associated with the complications associated with cross-border transportation via pipelines hinder the growth of APAC vacuum insulated pipe market.  

The APAC vacuum insulated pipe market is segmented into product, application and country. Based on type, the APAC vacuum insulated pipe market is segmented into standard and customized. The standard segment dominated the market in 2020 and customized segment is expected to be the fastest growing during the forecast period. Based on application, the APAC vacuum insulated pipe market is segmented into cryogenic, aerospace, electronic manufacturing and testing, food and beverage, and others. The cryogenic segment dominated the market in 2020 and food and beverage segment is expected to be the fastest growing during the forecast period. Based on country, APAC vacuum insulated pipe market is classified into China, Japan, South Korea, India, Australia, and Rest of APAC.

Asia Pacific is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, and huge population. All these factors make APAC a major region for the growth of various markets including vacuum insulated pipe. The lockdown of various plants and factories in all economies of the region is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various products and services. In addition to this, the region is a global manufacturing hub with countries, such as China, Japan, and South Korea leading the global manufacturing industry growth. Disruptions in manufacturing units has stopped the production of new vacuum insulated pipe, thus negatively impacted the market growth. On the contrary, the government is lifting lockdowns in all the countries, which is projected to positively impact the production and development of vacuum insulated pipes systems.

Air Liquide SA, Chart Industries Inc., Cryeng Group Pty Ltd., Cryofab, Demaco, and TMK are among the leading companies in the APAC vacuum insulated pipe market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Air Liquide increases stake its stake in Air Liquide Munay Tech Gases (ALMTG) by 75% and planning to invest up to 86 million euros to acquire hydrogen and nitrogen production units from Atyrau refinery owned by KazMunayGas. As per the new agreement, LMTG will operate these assets to supply industrial gases to the Atyrau refinery.

APAC Vacuum Insulated Pipe Market, By Country, 2020 and 2028 (%)

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