Global Tank Insulation Market Size Study & Forecast, by Material, Type, End-Use Industry and Regional Forecasts 2025-2035

In a world propelled by industrial optimization and environmental accountability, the Global Tank Insulation Market has firmly established itself as a vital cornerstone of thermal efficiency, material integrity, and operational cost-reduction across multiple sectors. Valued at approximately USD 2.31 billion in 2024, the market is forecast to ascend at a healthy CAGR of 5.40% between 2025 and 2035, reaching USD 4.12 billion by the end of the forecast period. Tank insulation, which encompasses materials such as polyurethane (PU), polyisocyanurate (PIR), rockwool, fiberglass, and cellular glass, plays a transformative role in maintaining temperature stability and preventing energy loss in storage and transportation applications. This technology is becoming increasingly indispensable in industries like oil & gas, chemicals, food & beverages, and power generation, where the containment of volatile or temperature-sensitive contents is mission-critical.

A significant portion of the market's growth can be attributed to the uptick in energy consumption and the expansion of cold chain logistics, which necessitate efficient and long-term thermal containment solutions. Additionally, with the rapid modernization of oil refineries and petrochemical plants, manufacturers are consistently turning toward advanced insulation materials that offer better resistance to extreme temperatures, corrosion, and environmental degradation. PU and PIR, in particular, are leading the charge due to their superior thermal conductivity and moisture resistance. Meanwhile, elastomeric foam and fiberglass continue to see increased adoption in transport tanks where flexibility and weight reduction are key design considerations.

Regionally, North America continues to maintain a competitive edge due to its robust oil & gas infrastructure, growing LNG (liquefied natural gas) distribution network, and ongoing upgrades in utility and power generation facilities. The United States, in particular, is witnessing heightened retrofitting activities in aging industrial tanks, fueling insulation demand. Europe follows suit, driven by stringent energy efficiency regulations and a surge in renewable energy storage solutions that rely on advanced tank insulation. However, it is the Asia Pacific region that is expected to lead in terms of growth rate throughout the forecast period. Rising industrialization, expanding chemical manufacturing hubs, and urban energy needs in emerging economies such as India and China are catalyzing this upward momentum. Moreover, government-backed infrastructure projects and increasing FDI (foreign direct investment) in cold storage and food processing plants are set to boost regional adoption.

Major market players included in this report are:

• BASF SE
• Croda International Plc.
• Halliburton Company
• Schlumberger Limited
• Impact Fluid Solutions
• Baker Hughes Company
• M&D Industries Of Louisiana, Inc.
• Trican Well Service Ltd.
• Eltherm GmbH
• Henkel AG & Co. KGaA
• Johns Manville
• Rockwool International A/S
• Coverflex Insulations Ltd.
• Cryogel Insulation
• Armacell International S.A.

Global Tank Insulation Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast Period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Material:

• Polyurethane (PU) & Polyisocyanurate (PIR)
• Rockwool
• Fiberglass
• Elastomeric Foam
• Cellular Glass

By Type:

• Storage Tank Insulation
• Transportation Tank Insulation

By End-Use Industry:

• Oil & Gas
• Chemical
• Food & Beverage
• Energy & Power
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.