Vacuum Insulated Pipe Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact Analysis

• The COVID-19 pandemic impacted the vacuum insulated pipe market and caused a decline in the market growth.
• The factory shut downs, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of industrial equipment that are required for the manufacturing of vacuum insulated pipe.
• The lockdown caused industries to shut down to prevent the spread of the virus. This decreased the demand of vacuum insulated pipe from industries.
• The outbreak has created significant disruptions in primary industries such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals.
• The electronic industries were all shut down as the virus spread in China first and major electronic industries are located in China. This caused a decline in the demand for vacuum insulated pipe from electronic industries.
• The demand for cryogenic liquids, such as hydrogen, oxygen, natural gas, and other liquid gases were declined during the pandemic, which had a direct negative impact on the vacuum insulated pipe market. 
• The upliftment of lockdown and the resumption of the production activity has caused the market for vacuum insulated market to grow again. 

Top Impacting Factors

The vacuum insulated pipe market is driven by ongoing investments in the aerospace industry, as well as the increase in LNG trading. Continuous investments in the food & beverage, aerospace, and semiconductor industries have produced a favourable business environment for specialized vacuum insulated pipes. The goods are widely employed in the aerospace, semiconductor, and food and beverage industries, presenting enormous prospects for vacuum insulated pipe penetration. These pipes are custom-made to meet the needs of each individual customer and are used to control the flow of cryogenic liquid at the end-user location. Furthermore, the industry's growth is fueled by the rise in oxygen use in the healthcare business, as well as the rise in demand for packaged foods, meat, and dairy products. Government rules and mandates for environmental protection is expected to subsequently promote natural gas uptake, which boosts the demand for vacuum insulated pipes. However, the high cost involved in the manufacturing of vacuum insulated pipe is a restraint for the market to grow. Accelerating spending on natural gas infrastructure as a result of an increase in gas-based generating capacity increases, which has created advantageous economic prospects. Furthermore, the rise in demand for packaged and frozen food goods, as well as strong expansion in the chemical industry, particularly in emerging economies, is expected to have a beneficial impact on the corporate landscape in the coming years.

Market Trends

• Air Liquide planned to grow its shareholding in Air Liquide Munay Tech Gases (ALMTG) by 75% in 2019. The joint venture has announced plans to invest up to €86 million in acquiring hydrogen and nitrogen producing facilities from KazMunayGas' Atyrau refinery. As per the new agreement, LMTG is expected to operate these assets to supply industrial gases to the Atyrau refinery.
• Acme Cryogenics, Inc. purchased Cryogenic Experts, Inc. in 2021. The purchase sought to expand the company's cryogenic and non-cryogenic specialized fluids product portfolio as well as its foothold on the West Coast of the U.S. 
• In 2020, va-Q-tec unveiled the va-Q-shell pipe, an incredibly energy-efficient pipe insulation technology. The base of the new insulation system are va-Q-tec’s vacuum insulation panels (VIPs). They provide ten times the insulation of traditional insulation materials. Their core material is a fumed silica-based microporous insulation that is 100 percent recyclable. Even where space is restricted, heat, cold, and energy losses can be considerably minimised thanks to their outstanding insulation performance.  The vacuum insulated pipes are foamed with polyurethane to provide long-lasting, dependable, and cost-effective heat and cold protection. Va-Q-shell pipe can be made in a variety of diameters, forms, and exterior laminations to meet the needs of particular customers. Various closing mechanisms are also available, such as pipe clamps, straps, rings, or Velcro tape. The easy-to-install insulation system comes in two half shells that are put around the pipeline and then closed or bonded together. Va-Q-shell pipe can be used to insulate factory-uninsulated pipes as well as pipe systems after they have been insulated. It enhances energy efficiency by up to 50% while decreasing insulation thickness because to its superior material qualities.