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) 

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) 

The vacuum insulated pipe market in SAM is expected to grow from US$ 50.24 million in 2021 to US$ 60.30 million by 2028; it is estimated to grow at a CAGR of 2.6% from 2021 to 2028. New technologies are gradually taking over the conventional technologies in oil & gas exploration projects. These technology support extracting fuels from the unconventional resources such as oil sands, oil shale, and tight oil. Hydraulic fracturing is a machinery that produces fractures in the rock formation that stimulate the flow of natural gas or oil, increasing recovery volumes. Wells may be drilled vertically hundreds to thousands of feet below the land surface and may include horizontal or directional sections over the specified depths. Hence, the use of technologically advanced solutions to ease the unconventional oil & gas exploration processes would emerge as a significant trend fostering the vacuum insulated pipe market growth.

The cryogenic segment led the SAM 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.

The government of South America has taken an array of actions to protect their citizens and contain the spread of novel coronavirus that causes COVID-19. Brazil holds significant position in the production of natural gas, followed by Argentina, Chile, and Peru. Due to the COVID-19 pandemic, the business of natural gas production has been declined, along with the less 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 pipes among natural gas plants during the forecast period.

The overall SAM 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 SAM 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 SAM vacuum insulated pipe market. Air Liquide SA, Chart Industries Inc., Cryofab, and TMK are among the players operating in the market in this region.

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