This article is based on a GCiS multi-client report: China Cryogenic Equipment Market Research Report.
China’s market for cryogenic equipment is in its early stages of development, spurred on by investments in the country’s Liquid Natural Gas (LNG) handling capacity and the general expansion of its industrial base. While LNG is the most high profile application for cryogenic equipment, it is not the only one. A number of other markets, with wide customer bases, have also flourished in recent years.
By value, roughly 95 percent of cryogenic equipment falls under one of four product categories. The largest type by revenues are storage tanks, which are made from carbon steel, nickel alloy and pre-stressed concrete; second, cryogenic valves which are made from austenitic stainless steel and copper alloy; third, vaporizers, made from high-tensile stainless steel; and finally, pumps, which are typically centrifugal or reciprocating and are made of austenitic stainless steel and specialized plastic sealants. Other parts of a cryogenic system include the pipes and flanges. A typical system configuration for 200 cubic meters of LNG will have one tank, around 15 valves, one pump and one to two vaporizers.