Report : South America Vacuum Insulated Pipe Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Standard and Customized) and Application (Cryogenic, Food & Beverage, Aerospace, Electronic Manufacturing & Testing, and Others)Â
Cryogenic Segment to Dominate SAM Vacuum Insulated Pipe Market during 2021–2028
According to a new market research study on “SAM Vacuum Insulated Pipe Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Application” is expected to reach US$ 60.30 million by 2028 from US$ 50.24 million in 2021. The market is estimated to grow at a CAGR of 2.6% from 2021 to 2028. The report provides trends prevailing in the SAM vacuum insulated pipe market along with the drivers and restraints pertaining to the market growth. Affirmative clean fuel policies is the major factor driving the growth of the SAM vacuum insulated pipe market. However, issues associated with the complications associated with cross-border transportation via pipelines hinder the growth of SAM vacuum insulated pipe market.
The SAM vacuum insulated pipe market is segmented into product, application and country. Based on type, the SAM 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 SAM 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, SAM vacuum insulated pipe market is classified into Brazil, Argentina and Rest of SAM.
The government of South America has taken an array of actions to protect their citizens and contain the spread of COVID-19. Brazil, followed by Argentina, Chile, and Peru hold significant position in the production of natural gas. Due to the pandemic situation, the business of natural gas production has been declined, along with the lesser procurement of advanced systems. This factor has negatively impacted the market. However, the business has now resumed in South American countries, which is projected to gradually create the demand for vacuum insulated pipe among natural gas plants.
Air Liquide SA, Chart Industries Inc., Cryofab, and TMK are among the leading companies in the SAM 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.
SAM Vacuum Insulated Pipe Market , By Country, 2020 and 2028 (%)
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