Cryogenic engineering is concerned with low temperatures and the equipment used in producing, storing and using of fluids at low temperatures. Due to the increasing use of cryogenic-fluids in industrial applications, the storage and transport of cryogenic fluids has become a necessity. Because of low temperatures, the storage of cryogenic fluids is difficult. Cryogenic fluids must be maintained at low temperatures and high pressures, otherwise the change of phase may occur, and storage of cryogenic fluids is possible with insulated chambers, using fiber, foamed or powdered insulation.In the present work, design analysis of multi layered cryogenic shell, with optimum orientations; minimum mass under strength constraints for a cylinder subjected to axial loading for static analysis on the pressure vessel has been studied. The modeling is carried out in Creo Parametric 2.0 and the analysis is carried out in ANSYS 15.0 solver. Static analysis and Thermal analysis has been done and also material optimization is done for enhancement. Different materials are analyzed. Taking weight into consideration and stress into account, S- glass epoxy for the outer structure with aluminum for the inner structure is comparably better than the other materials.