The Global Thermal Insulation Solution for LNG Carriers Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.1 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period (2023–2029). This growth is being driven by the expanding global LNG trade, increasing demand for energy-efficient shipping solutions, and the rising adoption of advanced cryogenic insulation materials to minimize boil-off gas losses in LNG carriers.
As the maritime industry shifts toward more sustainable and efficient operations in liquefied natural gas transport, the focus turns to the leading providers of thermal insulation solutions that ensure the safe and economical delivery of LNG across oceans. These materials are crucial for maintaining the ultra-low temperatures required for LNG storage and transport, preventing evaporation and enabling longer voyages without significant losses. In this blog, we profile the Top 10 Companies in the Thermal Insulation Solution for LNG Carriers Industry—a blend of material innovators, engineering specialists, and global suppliers shaping the future of cryogenic insulation for the energy sector.
🔟 1. Hankuk Carbon Co., Ltd.
Headquarters: Chungju, South Korea
Key Offering: Polyurethane Foam (PUR) Panels, Polyisocyanurate (PIR) Insulation Systems, Composite Insulation for Cryogenic Applications
Hankuk Carbon stands out as a prominent player in the Asian market for LNG carrier insulation, specializing in high-performance foam materials designed to withstand extreme cryogenic conditions. The company’s solutions are widely used in the construction of membrane-type LNG tanks, where thermal efficiency and structural integrity are paramount.
Innovation and Sustainability Initiatives:
-
Development of eco-friendly, low-emission PUR foams to reduce environmental impact during manufacturing
-
Investments in recyclable insulation materials to support circular economy principles in maritime industries
-
Commitment to achieving carbon-neutral production processes by 2030
Download FREE Sample Report: Thermal Insulation Solution for LNG Carriers Market – View in Detailed Research Report
9️⃣ 2. Dongsung FineTec Co., Ltd.
Headquarters: Seoul, South Korea
Key Offering: PIR Rigid Foam Boards, Spray Foam Insulation, Secondary Barriers for LNG Tanks
Dongsung FineTec has carved a niche in providing specialized insulation for the containment systems of LNG carriers, particularly in the type B and membrane designs. Operating primarily in the Asia-Pacific region, the company supplies insulation that excels in thermal conductivity and mechanical strength.
Innovation and Sustainability Initiatives:
-
Research into bio-based insulators to lower reliance on petrochemicals
-
Partnerships with shipyards to optimize insulation for energy-efficient vessel designs
8️⃣ 3. BASF SE
Headquarters: Ludwigshafen, Germany
Key Offering: Elastopor PUR Foams, Basotect Insulation Panels, Advanced Polyurethane Systems for Cryogenics
As a global chemical giant, BASF brings its vast expertise in polymer science to the LNG insulation market, offering a range of polyurethane-based solutions that provide superior thermal barriers. Their products are integral to the primary and secondary barriers in LNG cargo containment.
Innovation and Sustainability Initiatives:
-
Targets for 100% renewable raw materials in insulation products by 2030
-
Development of flame-retardant, low-VOC foams to meet stringent IMO regulations
7️⃣ 4. Owens Corning
Headquarters: Toledo, Ohio, USA
Key Offering: FOAMGLAS Cellular Glass Insulation, Fiberglas Thermal Barriers, Composite Solutions for LNG Applications
Owens Corning is a key North American contributor to the LNG insulation sector, renowned for its cellular glass and fiberglass products that offer exceptional resistance to cryogenic temperatures and moisture. These materials are particularly valued in LNG storage tanks and cargo enclosures.
Innovation and Sustainability Initiatives:
-
Expansion of recycled content in insulation materials to promote sustainability
-
Collaborations with LNG operators to test and certify new eco-insulation technologies
Download FREE Sample Report: Thermal Insulation Solution for LNG Carriers Market – View in Detailed Research Report
6️⃣ 5. Röchling Group
Headquarters: Mannheim, Germany
Key Offering: Polystone Piping Systems, Trovidur PVC Sheets, Custom Thermoplastic Insulations for Cryogenic Use
Röchling Group excels in engineering thermoplastics for LNG applications, providing insulation components that integrate seamlessly with containment membranes. Their products are designed for high mechanical stability, making them ideal for the dynamic stresses encountered in LNG cargo systems.
Innovation and Sustainability Initiatives:
-
Introduction of bio-degradable additives in thermoplastic insulations
-
Aim for net-zero emissions in manufacturing by 2040
5️⃣ 6. Diab Group
Headquarters: Laholm, Sweden
Key Offering: Divinycell PVC Foams, Core Materials for Composite Insulation, Lightweight Cryogenic Panels
Diab Group is a leader in core materials for composite structures used in LNG carrier insulation, offering foams that provide both thermal isolation and structural support. Their Divinycell products are lightweight and hydrophobic, preventing water absorption that could degrade performance over time.
Innovation and Sustainability Initiatives:
-
Current production of over 50,000 tons/year of sustainable core materials
-
Target to increase recycled content to 30% by 2025
4️⃣ 7. Kawasaki Heavy Industries, Ltd.
Headquarters: Kobe, Japan
Key Offering: Integrated Insulation Systems, Mark III Membrane Technology, Advanced Foam Composites
Kawasaki Heavy Industries combines shipbuilding prowess with insulation expertise, delivering comprehensive solutions for LNG carriers, including their proprietary Mark III system. This technology uses plywood boxes filled with perlite and polyurethane foams for robust thermal protection.
Innovation and Sustainability Initiatives:
-
R&D into hydrogen-compatible insulations for future energy carriers
-
Local innovation programs for low-carbon manufacturing
3️⃣ 8. Johns Manville
Headquarters: Denver, Colorado, USA
Key Offering: Microlite Fiberglass Insulation, Perlite-Based Systems, Cryogenic Mineral Wool
Johns Manville provides mineral wool and fiberglass solutions tailored for LNG cargo enclosures, emphasizing fire resistance and low thermal conductivity. Their products are essential in U.S. and international projects, supporting the safe handling of LNG in dynamic sea conditions.
Innovation and Sustainability Initiatives:
-
Indigenous development of high-performance, low-density wools
-
Collaborations to scale production of sustainable fibers
Download FREE Sample Report: Thermal Insulation Solution for LNG Carriers Market – View in Detailed Research Report
2️⃣ 9. MEISEI INDUSTRIAL CO., LTD.
Headquarters: Tokyo, Japan
Key Offering: No.96 Containment System Insulation, Polyurethane Spray Foams, Barrier Membranes
MEISEI INDUSTRIAL specializes in the No.96 system for LNG carriers, offering box-type insulation that excels in leak prevention and thermal stability. Their solutions are favored by Japanese and international builders for their ease of installation and long-term reliability.
Innovation and Sustainability Initiatives:
-
Aims for 50% reduction in material waste through advanced manufacturing
-
Expansion of supply chains for green-certified components
1️⃣ 10. Pearl Polyurethane Systems
Headquarters: Navi Mumbai, India
Key Offering: PUR Rigid Foams, Custom Spray Applications, Insulation for LNG Storage and Transport
Pearl Polyurethane Systems leads in the Indian subcontinent, providing cost-effective yet high-quality insulation for emerging LNG infrastructure. Their foams are used in tank linings and enclosures, supporting India’s ambitions to become a major LNG importer and hub.
Innovation and Sustainability Initiatives:
-
End-to-end solutions for regional LNG projects
-
Strategic alliances with producers for scalable, eco-friendly production
Get Full Report Here: Thermal Insulation Solution for LNG Carriers Market – View in Detailed Research Report
🌍 Outlook: The Future of Thermal Insulation for LNG Carriers Is Smarter and Greener
The thermal insulation market for LNG carriers is experiencing profound changes. Although traditional materials like PUR and PIR remain dominant, the sector is pouring resources into next-generation composites, nanotechnology-enhanced foams, and sustainable alternatives to cut environmental footprints and boost efficiency.
📈 Key Trends Shaping the Market:
-
Rapid expansion of LNG carrier fleets in Asia, Europe, and the Americas to support trade growth
-
Regulatory mandates for lower boil-off rates and eco-friendly materials by 2030
-
Digitalization through IoT for insulation performance tracking and optimization
-
Alliances between material suppliers, shipbuilders, and energy firms for integrated green solutions
Get Full Report Here: Thermal Insulation Solution for LNG Carriers Market – View in Detailed Research Report
The companies profiled here are not only insulating the world’s LNG carriers—they’re pioneering the sustainable evolution of global energy transport, ensuring a colder, cleaner future for maritime logistics.