Middle East and Africa 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) 

Middle East and Africa 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) 

The vacuum insulated pipe market in MEA is expected to grow from US$ 89.88 million in 2021 to US$ 113.96 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2021 to 2028. Discoveries of new oil & gas reserves have gained pace in the region. According to Rystad Energy, in 2019, 12.2 billion barrels of oil equivalent were discovered across the MEA. There were 26 discoveries with over 100 barrels of oil equivalent in the same year, with offshore regions being enriched with the new oil & gas deposits. In the same month, Gazprom announced the discovery of a new gas deposit—Yamal shelf—at the Leningradskoye field. Thus, the rising number of discoveries of new offshore oil & gas reserves are expected to boost the construction of new plants, thereby bolstering the demand for new vacuum insulated pipes for cross-border transmission in the coming years.

The cryogenic segment led the MEA vacuum insulated pipe market, based on application, in 2020. Cryogenics involves the production, effect, and uses of materials at a very low temperature. At the cryogenic temperature, certain characteristics of the materials are altered, such as mechanical strength, ductility, thermal conductivity, and electrical resistance. Using the cryogenics technique, most of the gases used for industrial and commercial applications are stored in liquid form, which subsequently reduces the overall storage size while also reducing the associated cost of transportation. Furthermore, the potential hazards with regards to the gaseous state of industrial gases are also reduced. Thus, owing to the cost and storage benefits of cryogenics, the vacuum insulated pipe market is experiencing a significant growth.

During the COVID-19 pandemic, the MEA vacuum insulated pipe market is majorly affected by the disruption in the supply chain. Pertaining to the closure of country borders, the supply chain of several components and parts have been disturbed. The demand for vacuum insulated pipe has weakened over the past couple of months in MEA countries. This has resulted in a loss of business among the vacuum insulated pipe manufacturers and distributors offering their products to oil & gas and healthcare institutes.

The overall MEA vacuum insulated pipe market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the MEA vacuum insulated pipe market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the MEA vacuum insulated pipe market. Air Liquide SA, Chart Industries Inc., Cryofab, and TMK are among the players operating in the market.

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Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the vacuum insulated pipe market, as well as those hindering it
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