Chemical Industry Updates

  Cryogenic tanks are vacuum insulated containers used to store and transport liquefied gases such as liquefied natural gas (LNG), liquid nitrogen, liquid oxygen, and liquid argon at extremely low temperatures. Cryogenic tanks provide effective storage solutions for cryogenic liquids and help meet the growing demand for industrial gases in various end-use industries such as energy, healthcare, food & beverage, and aerospace. The global cryogenic tanks market is estimated to be valued at US$ 6.51 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the cryogenic tanks market is increasing LNG trade across geographies. Liquefied natural gas is traded internationally as it provides an environment-friendly and efficient way of transporting natural gas over long distances via ships. This has significantly increased

  Cryogenic tanks are vacuum-insulated vessels used for storage of liquefied gases such as oxygen, nitrogen, hydrogen, argon, and more at very low temperatures. These tanks provide advantages such as higher storage capacity, minimized boil-off losses, safe transportation and handling of cryogenic liquids. The ever-growing industrial gas industry is driving the demand for cryogenic tanks. The global Cryogenic Tanks Market is estimated to be valued at US$ 6.51 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends in the  cryogenic tanks market  is the rising demand for LIN/LOX tanks from the healthcare sector. LIN/LOX tanks are extensively used in the healthcare industry for storage of medical gases such as oxygen and nitrogen which are used for various medical applications such as anesthesia, oxygen therapy, and laboratory applications. Fur