Tank Insulation Market Report 2026

The tank insulation market size has grown strongly in recent years. It will grow from $6.65 billion in 2025 to $7.07 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to expansion of oil and gas storage infrastructure, growth in chemical processing industries, increasing use of insulated food storage tanks, rising industrial energy efficiency standards, availability of diverse insulation materials.

The tank insulation market size is expected to see strong growth in the next few years. It will grow to $8.94 billion in 2030 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to growing investments in energy-efficient industrial facilities, rising demand for insulated LNG and hydrogen storage, expansion of renewable energy storage infrastructure, increasing adoption of smart temperature monitoring, growing focus on lifecycle cost reduction. Major trends in the forecast period include increasing adoption of high-performance insulation materials, growing demand for cold and cryogenic tank insulation, expansion of energy-efficient storage solutions, rising use of advanced composite insulation systems, enhanced focus on thermal loss reduction.

The growth in chemical manufacturing facilities is expected to boost the growth of the tank insulation market going forward. Chemical manufacturing facilities are businesses or organizations involved in various processes, operations, and the production of chemicals and their derivatives. Insulation helps to maintain stable operating temperatures by minimizing heat gain and reducing the load generated on the chillers or heaters. Chemical tanks are insulated to maintain consistent operating temperatures for optimal processing. Storage tank insulation lowers costs, controls temperatures, and lessens condensation problems brought on by abrupt temperature changes. The increase in chemical manufacturing facilities leads to a rise in the insulation requirements for chemical tanks and containers, propelling the tank insulation market. For instance, in February 2023, according to the report published by BASF, a Germany based chemical manufacturing company, global chemical production, excluding pharmaceuticals, is projected to increase by 2% in 2023 as compared to the levels observed in 2022. Moreover, chemical production is anticipated to experience a growth of 2.7% between 2023 and 2025. Therefore, the growth in chemical manufacturing facilities is driving the growth of the tank insulation market.

Major companies operating in the tank insulation market are focused on developing advanced products such as energy-saving tank insulation systems to gain a competitive advantage. An energy-saving tank insulation system is a technology designed to stabilize internal tank temperatures, achieving substantial energy savings, improving product quality, and promoting environmental sustainability in the beverage industry. For instance, in November 2023, BevZero, a US-based innovator in the beverage industry, launched its advanced energy-saving tank insulation system, 'BevClad,' in Europe. BevClad, already successful in the US wine industry, offers up to 96% energy savings, improved product quality, sustainability benefits, and durability. It aligns with clients' energy efficiency and sustainability goals, addressing the increasing demand for cutting-edge insulation solutions in the beverage industry. Key features include unparalleled energy efficiency, improved product quality, environmental sustainability, and durability. The introduction of BevClad in Europe supports clients' objectives and addresses the growing demand for advanced insulation solutions in the dynamic beverage industry.

In March 2024, 3M Company, a US-based multinational conglomerate, collaborated with HD Hyundai Korea Shipbuilding & Marine Engineering (KSOE) to carry out a joint research project on large liquid hydrogen storage tanks. Through this collaboration, 3M and HD Hyundai KSOE aim to develop a high-performance vacuum insulation system utilizing 3M’s high-strength, low-density hollow glass microspheres to safely store and transport liquefied hydrogen, supporting advancements in clean energy technologies. HD Hyundai Korea Shipbuilding & Marine Engineering (KSOE) is a South Korea-based company specializing in shipbuilding and marine engineering solutions.

Major companies operating in the tank insulation market are Rockwool A/S, Owens Corning, Saint-Gobain S, Kingspan Group PLC, Armacell International S, Johns Manville, Knauf Insulation Inc., Gilsulate International Inc., Commercial Thermal Solutions Inc., ITW Insulation Systems FZE, J H Ziegler GmbH, Isolatek International, L'ISOLANTE K-FLEX SpA, MBI Products Company Inc., Microtherm NV, Rmax Operating LLC, Roxul Inc., Superlon Worldwide, Thermafiber Inc., Unifrax I LLC.

Asia-Pacific was the largest region in the tank insulation market in 2025. Asia-Pacific is expected to be the fastest-growing region in the tank insulation market during the forecast period. The regions covered in the tank insulation market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tank insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The tank insulation market includes revenues earned by entities by providing services such as thermal insulation, heat tracing, acoustic insulation, fire protection, and cryogenic insulation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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