Cryogenic Hoses Market - Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 - 2025


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Introduction

Cryogenic hoses are particular indispensable assembly or equipment used for the efficient and effective transfer of cryogenic liquids and liquid gases, such as liquid nitrogen, liquid helium, liquid oxygen, liquid argon liquefied petroleum gas (LPG), liquefied natural gas (LNG), ethylene, ammonia and carbon dioxide. Cryogenic technology is largely involved in the operation, production and maintenance of gases below -150 degree C. Cryogenic hoses possess exceptional properties, such as exceptional thermal resistance, resistance against chemicals, long operating and service life and ease in usage and they also reduce maintenance cost. Conventionally, major cryogenic hoses are manufactured from polymers wherein different layers of polymers are superimposed together to form a composite, which is used as the base material. Composites are generally lightweight in nature and provide better shear stress properties. Stainless steel is also adopted as a material of choice for the manufacturing of cryogenic hoses, owing to its exceptional mechanical and thermal properties. Stainless steel also provides resistance against acids and alkali, which help in increasing the life of cryogenic hoses.

Cryogenic hoses can be classified into several types on the basis of application usage, namely uninsulated, vacuum insulated and foam insulated. Among these types, vacuum insulated and foam insulated hoses find remarkable adoption in different end user industries. There has been a significant increase in opportunities for cryogenic hoses in core processes in different end user industries. End-user industries, such as coal storage, petrochemical and chemical, metallurgy and food & beverage are the prominent industries responsible for the increased demand of cryogenic hoses. The petrochemical industry holds a lion’s share of returns in the global cryogenic hoses market. Major market players are continuously investing in research and development to pave way for technological innovations and advances in the market.

Cryogenic Hoses Market: Drivers and Restraints

Globally, the cryogenic hoses market has been witnessing enormous demand and progress over the past few years and the same trend will be observed in the upcoming years. The main reason behind the huge demand for cryogenic hoses is the adoption of the assembly in different applications. Massive development of petrochemical complexes, chemical industries, metallurgical activities, cold storage of foods and beverage and power industries in the last few years has surged the demand for cryogenic hoses.  Furthermore, continuous R & D efforts in cryogenic technologies enable new product development of cost effective cryogenic hoses with increased efficacy. There has been a substantial increase in the adoption of nitrogen in food & beverage applications, which is driving the growth of cryogenic hoses in the global market. Nitrogen gas has been broadly used for preserving and freezing foods in the food processing industries. Conventional refrigerants, such as ammonia and fluorocarbons are being replaced by nitrogen cooled freezers since the former are expected to negatively affect the environment. Nitrogen-cooled freezers are also used to increase product quality and throughput. In the past few years, there has been a significant slowdown in the steel industry, which may dent adoption and growth opportunities of cryogenic hoses in the market.

Cryogenic Hoses Market: Segmentation

On the basis of material type, the cryogenic hoses market can be segmented as:

  • Composite Hoses
  • Stainless Steel

On the basis of insulation type, the cryogenic hoses market can be segmented as:

  • Uninsulated
  • Vacuum Insulated
  • Foam Insulated

On the basis of end user, the cryogenic hoses market can be segmented as:

  • Petrochemical Industry
  • Metallurgy Industry
  • Power Industry
  • Food & Beverage Industry
  • Others

Cryogenic Hoses Market: Region-wise Outlook

The global cryogenic hoses market can be segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Growth in developed regions, such as North America, Western Europe and Japan will be driven by the expansion of industries, such as metallurgy, food and beverage and power. APEJ and Latin America regions will also register rapid growth, due to the increasing demand for petrochemical & chemical products and an increase in manufacturing units, mainly in emerging economies, such as China and India. MEA is also projected to also expand with a significant CAGR over the forecast period.

Cryogenic Hoses Market: Market Participants

Examples of some of the market participants in the global cryogenic hoses market, identified across the value chain include:

  • Cryofab
  • Gas Equipment Co, Inc.
  • Acme Cryogenics
  • Linde
  • Pacific Hoseflex
  • United Flexible
  • Meiji Rubber & Chemical
  • Dantec
  • Grainger
  • Hose Manufacturing

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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