December 5, 2023

Cryogenic Tanks Market Trends: Revolutionizing Gas Storage

Cryogenic tanks, the unsung heroes of the industrial gas sector, are taking center stage as they redefine the storage and transportation of gases at extremely low temperatures. These tanks, designed to withstand rapid temperature changes and extreme conditions, are driving innovation in industries ranging from manufacturing to healthcare. As the demand for industrial and atmospheric gases continues to outpace global GDP growth, the cryogenic tanks market is poised for promising expansion.

Cryogenic Tanks: Safeguarding the Handling of Extreme Cold

Cryogenic liquids, including liquid nitrogen, helium, and argon, exist at temperatures as low as -150°C or lower. Handling these liquids with standard containers would not only be impossible but would also pose severe health and safety risks. Health hazards such as extreme cold, asphyxiation, and toxicity, along with the potential for flammability hazards like fire and explosions due to rapid expansion, necessitate the use of specialized cryogenic tanks. These tanks are indispensable for storing and transporting a wide range of cryogenic liquids and gases, including liquefied natural gas (LNG), carbon dioxide, and nitrous oxide at higher temperatures.

Driving Economic Growth with Industrial Gases

The demand for industrial and atmospheric gases consistently surpasses global GDP growth. These gases, including oxygen, nitrogen, argon, helium, and others, serve as the lifeblood of numerous industries. Oxygen, nitrogen, and argon find extensive use in the steel and metal industries, while acetylene, propane, and oxygen play vital roles in shipyards and automotive manufacturing. In the food industry, liquid nitrogen and carbon dioxide are essential for high-quality product freezing and food preservation. The medical gases sector supports various applications, from cryosurgery to cryopreservation, driving demand for cryogenic tanks.

Cryogenic Tanks: Engineering Excellence

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Cryogenic tanks come in various forms, including bulk containers, cryogenic cylinders (Dewars), gas cylinders, and glass bottles. These tanks are constructed with durable materials capable of withstanding extremely low temperatures and are thermally insulated, often featuring a vacuum jacket. The inner vessels and piping are made of stainless steel to ensure high-grade cleanliness, a critical factor for industries like food and electronics. Tanks can be fixed, mobile, or transportable, meeting a range of requirements for different users.

Safety and Compliance

Safety and compliance are paramount in the cryogenic tank industry. Maintenance and inspections are conducted by authorized professionals, following strict design codes and regulations. Documentation of repairs and modifications is essential to ensure the tanks’ integrity throughout their service life. Tanks intended for the transportation of cryogenic liquids adhere to stringent regulations and standards, such as the European Pressure Equipment Directive (PED) and ISO/TC 220: Cryogenic Vessels.

Industry Advocacy

Key industry associations, including the British Compressed Gas Association (BCGA), Compressed Gas Association (CGA), and The European Industrial Gases Association (EIGA), actively engage in public policy initiatives and advocacy positions to support the industrial gas sector.

Leading Companies in the Cryogenic Tanks Market

Major players in the global cryogenic tanks market, such as Air Products, Air Liquide, Linde, and Praxair Technology, Inc., are driving innovation and setting industry standards. These companies, along with others like Chart Industries and Cryofab Cryolor, continue to lead the way in advancing cryogenic tank technology.

Cryogenic tanks are not just storage solutions; they are the backbone of industries that rely on the efficient handling of gases at extremely low temperatures. With their pivotal role in supporting economic growth and innovation across various sectors, the cryogenic tanks market is on an upward trajectory, promising a future marked by groundbreaking advancements.

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Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad