Subsea Thermal Insulation Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Subsea Thermal Insulation Material Market is segmented by Type (Epoxy, Polypropylene, Polyurethane, Synthetic Rubber, and Other Types), Application (Line Pipe, Field Joints, Pipe in Pipe, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and Rest of the World)

Subsea Thermal Insulation Material Market Snapshot

Subsea Thermal Insulation Material Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Europe
CAGR: >4 %
Subsea Thermal Insulation Material Market Major Players

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Market Overview

The market for subsea thermal insulation material is expected to witness a CAGR of approximately 5%, globally, during the forecast period.

  • The increase in oil and gas production in the North American region is expected to drive the demand for subsea thermal insulation materials.
  • The major restraint for the market studied is the volatile price nature of oil and gas.
  • The development of long distance oil and gas transmission lines that will potentially replace tanker transport is expected to provide opportunities to the market.

Scope of the Report

The subsea thermal insulation material market report includes:

Synthetic Rubber
Other Types
Line Pipe
Field Joints
Pipe in Pipe
Other Applications
North America
United States
Rest of North America
United Kingdom
NORDIC Countries
Rest of Europe
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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Key Market Trends

Polyurethane Type to Dominate the Market

  • In between the shutdown and restart period, the subsea pipeline experiences the most severe flow assurance problem, due to flow stagnation and rapid heat loss.
  • When the subsea pipeline temperature steeply drops below wax appearance temperature (WAT) and hydrate appearance temperature (HAT), it causes the pipeline to clog.
  • In certain circumstances, clogging may affect the well productivity during restart condition and in the worst-case scenario, the well must be abandoned. Thus, thermal insulation of the subsea pipeline is of utmost importance to protect the integrity of the pipe flow, during the shutdown period.
  • Currently, there are no easily accessible methods and standard practices to select the optimum thermal insulation of the subsea pipeline for flow assurance, but materials, like polyurethane, polypropylene, epoxies, and synthetic rubbers are used.
  • Out of these, polyurethane material is the most used one, majorly because of its low K-value (W/m. K) when compared to other materials. The lower the k-value, the lower the materials ability to transfer/conduct heat.
  • The K-value for polyurethane ranges from 0.13 to 0.17, polypropylene, on the other hand, has a range of about 0.21-0.26 of K-value, rubber exhibits K-value range of 0.14-0.28 and epoxy about 0.14-0.17.
  • Other than K-value, the broad range of density exhibited, good adhesion quality, high flame resistance, and smooth and regular surface exhibited by polyurethane make it the most used material for subsea thermal insulation.
Subsea Thermal Insulation Material Market Trends

North America to be the Fastest Growing Region

  • The United States has the largest share of announced and planned oil and gas trunk pipelines between 2019 to 2023. The country announced that 27,000 kilometers of pipeline and 18,500 kilometers of pipelines are still in the planning phase.
  • North America’s natural gas production increased by 9.8% in 2018 when compared to 2017, which was the highest in the world.
  • The United States was the leader in natural gas production with 715 million metric tons of oil equivalent around the world, while Canada was fourth, with approximately 159 million metric ton, in 2018.
  • North America also came second, in terms of oil production worldwide, from 2009 to 2018, with a share of 23.8%, with the highest being the Middle East with a share of 33.5%, globally.
  • Crude oil production in Canada has been increasing year on year, in 2016 it was 218 million metric ton, in 2017, it increased to 235 million metric ton, and reached 255 million metric ton in 2018.
  • Therefore, based on increasing pipeline building and increasing production, it is expected that North America will dominate the market in near future.
Subsea Thermal Insulation Material Market Growth

Competitive Landscape

The subsea thermal insulation material market is partially fragmented, with the presence of a number of companies eyeing for shares in the market. The major companies in the market are Advanced Insulation, BASF SE, Cabot Corporation, Dow, and Shawcor, among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Oil and Gas Production in North America

    2. 4.2 Restraints

      1. 4.2.1 Volatile Prices of Oil and Gas

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Polypropylene

      3. 5.1.3 Polyurethane

      4. 5.1.4 Synthetic Rubber

      5. 5.1.5 Other Types

    2. 5.2 Application

      1. 5.2.1 Line Pipe

      2. 5.2.2 Field Joints

      3. 5.2.3 Pipe in Pipe

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. Russia

        5. NORDIC Countries

        6. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Indonesia

        3. India

        4. Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. South America

        2. Middle East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Advanced Insulation

      3. 6.4.3 Aegion Corporation

      4. 6.4.4 AFGlobal

      5. 6.4.5 Aspen Aerogels

      6. 6.4.6 Balmoral Group Holdings Ltd

      7. 6.4.7 BASF SE

      8. 6.4.8 Cabot Corporation

      9. 6.4.9 Dow

      10. 6.4.10 Engineered Syntactic Systems

      11. 6.4.11 Huntsman International LLC

      12. 6.4.12 Materia Inc.

      13. 6.4.13 PERMA-PIPE International Holdings Inc.

      14. 6.4.14 Serimax

      15. 6.4.15 Shawcor

      16. 6.4.16 TechnipFMC

      17. 6.4.17 Tenaris

      18. 6.4.18 Trelleborg Offshore & Construction

    5. *List Not Exhaustive

    1. 7.1 Development of Long Distance Oil and Gas Transmission Lines

**Subject to Availability

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Frequently Asked Questions

The Subsea Thermal Insulation Material Market market is studied from 2016 - 2026.

The Subsea Thermal Insulation Material Market is growing at a CAGR of >4% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Advanced Insulation , BASF SE, Cabot Corporation, Dow, Shawcor are the major companies operating in Subsea Thermal Insulation Material Market.

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