Overview and Scope
Cold insulation refers to an insulation service that is used to insulate various operating mechanical components to maintain specific temperatures, usually lower than the ambient in the manufacturing process. Cold insulations are materials used in coating various mechanical components to maintain a lower temperature in the process, which prevents the process of condensation, intrusion, moisture, long-term degradation, and others in manufacturing.
Sizing and Forecast
The cold insulation market size has grown rapidly in recent years. It will grow from <b>$6.2 billion in 2023 to $6.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. </b> The growth in the historic period can be attributed to increased demand for industrial refrigeration, increased construction projects, oil and gas industry, increased need for food and beverage storage, and energy efficiency regulations.
The cold insulation market size is expected to see strong growth in the next few years. It will grow to <b>$9.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. </b> The growth in the forecast period can be attributed to increasing demand for green insulation materials, cold chain logistics expansion, increasing need for biopharmaceuticals and vaccines, growing need for renewable energy cold storage, and infrastructure development. Major trends in the forecast period include advanced refrigeration technologies, innovative sustainable building practices, energy performance contracting solutions, technological advancements, and strategic collaborations.
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Segmentation & Regional Insights
The cold insulation market covered in this report is segmented –
1) By Material Type: Fiber Glass, Polyurethane Foam, Polystyrene Foam, Phenolic Foam, Other Materials
2) By Insulation Type: Fibrous, Cellular, Granular
3) By End-Use Industry Type: Heating, Ventilation, and Air Conditioning, Refrigeration, Oil & Gas, Chemicals, Other End-Use Industry
<b>Asia-Pacific</b> was the largest region in the cold insulation market in 2023. The regions covered in the cold insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for refrigeration and air-conditioning devices is expected to propel the growth of the cold insulation market going forward. Refrigeration devices refer to the devices used to remove heat from an enclosed space or from a substance to lower the temperature, whereas air conditioning devices refer to equipment that cools, heats, or dehumidifies spaces in residential or non-residential settings. Cold insulation helps refrigeration and air conditioning devices by reducing energy loss and avoiding condensation in the unit to keep it cool and dry. For instance, in July 2023, according to Statistics Canada, a Canada-based government agency, Canadians spent $1.2 billion on heating and cooling systems, including air vents, central air conditioners, and other cooling equipment, in 2022. Major home appliances, which include room air conditioners in addition to kitchen and laundry appliances, saw additional retail sales of $7.2 billion in 2022. Over 1.2 million stand-alone air conditioners (including wall and window units) costing $458.5 million were imported into Canada in 2022. Therefore, increasing demand for refrigeration and air-conditioning devices is driving the cold insulation market growth.
Key Industry Players
Major companies operating in the cold insulation market include <b> BASF SE, Huntsman Corporation, The Dow Chemical Company, Armacell International Holding Gmbh, Aspen Aerogel Inc., Bayer Material Science, Evonik Industries AG, Owens Corning, Dongsung Finetec Corporation, Certain Teed Corporation, Pittsburgh Corning Corporation, Covestro AG, Rockwool International, Bradford Insulation Industries Ltd., Arabian Fiber Glass Insulation Co. Ltd., Unifrax, Nichias Corporation, Paroc Group, NMC Insulation, ODE Insulation, Aeroflex, PPG Industries, DUNMORE Corporation, Fletcher Insulation, Flexi-Therm, Amerisol, Superlon, Aerolam Insulations </b>
The cold insulation market report table of contents includes:
1. Executive Summary
2.Cold Insulation Market Characteristics
3.Cold Insulation Market Trends And Strategies
4.Cold Insulation Market analysis
5. Cold Insulation Market Size And Growth
6. Cold Insulation Segmentation
7.Cold Insulation Regional And Country Analysis
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27.Cold Insulation Competitive Landscape And Company Profiles
28.Cold Insulation Key Mergers And Acquisitions
29.Cold Insulation Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- BASF SE
- Huntsman Corporation
- The Dow Chemical Company
- Armacell International Holding Gmbh
- Aspen Aerogel Inc.
- Bayer Material Science,
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Industry Overview of the Cold Insulation Market 2020The research report titled Global Cold Insulation Market is an all-inclusive document containing crucial data pertaining to sales and revenue of the Cold Insulation industry.
The report provides historical data (2017-2018) of the industry and provides valuable forecast information for the period of 2020-2027.
The report is formulated with the analysis of current and emerging trends based on the impact of the COVID-19 pandemic.
The pandemic has changed the dynamics of the market and has drastically shaken up the economic scenario of the world.
It also covers trends, demands, and growth rates impacted by the ongoing crisis.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3294The forecast estimation states the global Cold Insulation market is expected to dominate the economic sphere of the world with significant growth in the coming years.
The current and emerging trends are expected to shape up the industry and help in gaining a strong foothold in the global market to contribute to the revenue generation.The Global Cold Insulation market is further analyzed on the basis of key companies operating in the business sphere and major geographical regions where the market has a substantial size and growth rate.Prominent Players: BASF SE, Armacell International Holding Gmbh, The DOW Chemical Company, Owens Corning, Bayer Material Science, Knauf Insulation, Aspen Aerogels Inc., KAEFER, Novisol, and Huntsman Corporation, among others.For the purpose of this report, Reports and Data have segmented into the global Cold Insulation market on the basis of Material Type, Insulation Type, Application, and Region:Material Type Outlook (Revenue, USD Billion; 2017-2027)Fiber GlassPhenolic FoamsPolystyrene FoamsPolyurethane FoamsOthersInsulation Type Outlook (Revenue, USD Billion; 2017-2027)FibrousCellularGranularApplication Outlook (Revenue, USD Billion; 2017-2027)ChemicalsHVACOil & GasRefrigerationOthersZonal Partition of the Market: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.The report covers extensive analysis of market segments that are anticipated to lead by the end of the forecast period (2020-2027).
Rising need from emerging and current applications, expanding utilization of LPG (liquefied petroleum gas), LNG (liquefied natural gas) along with other cryogenic gases, in addition, to decrease in greenhouse emissions are a few of the key aspects instigating the development of the market for cold insulation material.
Exhausting infrastructure expending all over different emerged countries, for example, Japan, the U.S. along with other Western European nations combined with expanding awareness in regards to energy losses and expenses caused because of them are required to positively affect worldwide cold insulation material market.
Additionally, the usage of LEED certification, a ranking for environmental manageability, by the U.S. GBC (Green Building Council) in addition fuels the market to some degree.Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124807/Cold-Insulation-Material-Market Rising need of the cold insulation material in air-conditioning and refrigeration devices is probably going to drive the development of the market over the years to follow.
In addition, growing GDP, expanding disposable income as well as alterations in climatic conditions, particularly in the region of Asia-Pacific are considered to fuel the development of the market to some degree.
The cryogenic equipment, for example, perlite and aerogel have astounding thermal insulation properties which improve the execution of the cold insulation materials.
The Asia-Pacific regional market is in addition probable to expand at a faster rate because of the developing cold chain market in the region.
The Asia-Pacific Cold Insulation Market size was valued at USD 2.41 Billion in 2019 and is predicted to reach USD 4.67 Billion by 2030 with a CAGR of 6.2% from 2020-2030.Cold insulation reduces potential damage to equipment from corrosion or fire exposure and increase the operating efficiency of industrial systems such as cooling/heating, ventilating, plumbing, power and process.
It is prepared by combining two or more materials in order to prevent heat loss or gain and thereby save the valuable energy.
These materials are widely used in end-user industries such as automobile, construction and electronics.Access Full Description of this report at:- https://www.nextmsc.com/report/asia-pacific-cold-insulation-market Top Companies: Kingspan Group PLC, BASF SE, Huntsman Corporation, Illinois Tool Works (ITW Insulations Systems), Rockwool International A/S, Covestro AG, Dowdupont, INC., Dongsung Finetec, Armacell International S.A., Nichias Corporation and others.Cold insulation market has been witnessing significant growth owing to factors such as rapid pace of industrialization in emerging economies, followed by rising demand of cooling equipment.
Also, there has been a substantial increase in the demand for cryogenic insulation in oil & gas industry in the recent years.
Moreover, factors such as increasing concerns toward greenhouse gas emissions and expanding industries such as food and healthcare among others in Asia-Pacific region is expected to boost the cold insulation market growth.
Furthermore, due to the economic development and changing lifestyle, the level of consumption as well production has substantially increased in Asia-Pacific region, which is also contributing to the growth of cold insulation material market in the region.Request sample copy of this report at:- https://www.nextmsc.com/asia-pacific-cold-insulation-market/request-sample The Asia-Pacific cold insulation market share has been segmented on the basis of type, application and country.
