Cold Insulation Market is forecasted to grow USD 9.46 Billion at a CAGR 7.2% by 2027
The global Cold Insulation market is forecast to reach USD 9.46 Billion by 2027, according to a new report by Reports and Data. The global cold insulation market is likely to see rapid gains over the forecast period due to the high importance of energy efficiency owing to the rising cost of energy during the forecast period. Growing concerns about greenhouse gas emissions are expected to further fuel market growth over the forecast period. The market is further strengthened by government support to increase the energy efficiency of public infrastructure. The depletion of infrastructure spending in various developed countries such as the United States, Japan, and other Western European countries, coupled with increased awareness of energy losses and costs, is expected to have a positive impact on the global cold insulation market.
The increase in disposable income associated with the growing demand for air conditioning and refrigeration equipment in emerging markets is expected to stimulate further demand for cold insulating materials such as fiberglass, polyurethane foams, polystyrene, and phenolic foams. Growing demand for cryogenic equipment from the oil and gas industry is expected to stimulate demand for cryogenic insulation materials, which in turn should have a positive impact on the global market.
Top Companies Operating in the Global Cold Insulation Market:
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.
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Further key findings from the report suggest
- Asia-Pacific is currently the largest and most dynamic market for cold insulation. The rapid growth of end-use industries, such as oil and gas, chemicals, HVAC, and cryogenic equipment in Asia-Pacific, is driving a significant increase in the market. Besides, the low costs of setting up manufacturing facilities are driving market growth in the region.
- Polyurethane foam is estimated to be the third-largest material segment during the forecast period as it is widely used in the refrigeration segment, one of the largest end-use industries in the cold insulation market.
- Significant investments in R&D and technological development have led to the development of new techniques and new materials that have a minimal effect on the environment, which results in a steady increase in the North American cold insulation market.
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Cold Insulation Market Segmentation
Material Type Outlook (Revenue, USD Million; 2017-2027)
- Fiber Glass
- Phenolic Foams
- Polystyrene Foams
- Polyurethane Foams
Insulation Type Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
- Oil & Gas
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Cold Insulation market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Cold Insulation market.
The global Cold Insulation market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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