Cold Insulation Market Overview:
Cold Insulation Market size was valued at $4,321 million in 2016, and is anticipated to reach $7,243 million by 2023, registering a CAGR of 7.4% from 2017 to 2023. Cold insulation is a process that provides a material or a blend of two or more materials used to avoid heat loss or heat gain to conserve the valuable energy. Thermal insulation is used for energy conservation, while cold insulation is used for the temperature below the ambient threshold, which is capable of preventing condensation, moisture intrusion, and long-term degradation. Cold insulation material is a closed structure used to avoid wicking in a system where it is installed by acting as a barrier to heat flow. These are adopted in a wide range of applications to maintain low temperature for process control, avoid surface condensation, and conserve refrigeration. The types of materials used for cold insulation are fiber glass, polyurethane foam, polystyrene foam, phenolic foam, and others. Presently, the use of cold insulation has increased in the recent years, owing to its ability to protect the environment from greenhouse gases and increase the efficiency of these system where it is installed. Moreover, the market is driven by rise in its demand in oil & gas industries and favorable government regulations regarding environmental protection. However, lack of awareness about cold insulation materials could hamper the market growth during the forecast period.
The report emphasizes on the types of materials used for cold insulation, which include fiber glass, polyurethane foam, polystyrene foam, phenolic foam, and others. Based on application, the market is classified into HVAC, chemicals, oil & gas, refrigeration, and others. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights the factors that could impact the growth of the market and the role of different key players in the value chain. It presents the quantitative data in terms of both value and volume, which have been obtained from secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others. The validation of data has been done by C-level executives and directors of the companies operating in the industry.
Global Cold Insulation Market Segmentation
Asia-Pacific is the leading and highest growing region in the global cold insulation market, in terms of both value and volume. However, Europe has witnessed the second highest growth rate, owing to the favorable climatic conditions of most of the European countries and favorable government regulations promoting thermal and cold insulation for energy conservation.
Cold Insulation Market Share, By Geography, 2016
Top investment Pocket
Polystyrene foam is the most lucrative segment in the market, followed by polyurethane foam and fiber glass. Polystyrene is a waterproof thermoplastic foam, which is an excellent temperature insulation material. It is widely used in various applications due to its superior compressive and tensile strength.
Top investment Pocket
Asia-Pacific Cold insulation Market Scenario
Asia-Pacific witnessed the highest demand for cold insulation materials, owing to the increase in population, industrial expansion, and growth in construction industry in this region. In 2016, China dominated the Asia-Pacific cold insulation market, in terms of both value and volume.
Korea Cold Insulation Market Size, 2015-2023 ($Million)
The key players profiled in the report are BASF SE, Dow Chemical Company, Huntsman Corporation, Bayer Material Science, Armacell International S.A., Evonik Industries, Aspen Aerogels, Dongsung FineTec Co., Ltd., Certain Teed Corporation, and Kingspan Group PLC.
The other major players (not profiled in report) in the market include Owens Corning, Pittsburgh Corning Corporation, Combi Isolatie B.V., Arabian Fiberglass Insulation Co. Ltd., Fletcher Insulation Pty Ltd., KAEFER, Mag Hard Insulators, Novisol, Thermax, and International Corrosion Services LLC.
Key Market Benefits
- This report provides an extensive analysis of the current and emerging market trends & dynamics of the global cold insulation market.
- Market trend analysis for all the regions is done by constructing estimations for the key segments between 2015 and 2023 to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- This study evaluates the competitive landscape of the cold insulation industry to understand the competitive environment globally.
- Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
Cold Insulation Market Key Segments
- Fiber Glass
- Polyurethane Foam
- Polystyrene Foam
- Phenolic Foam
- Oil & Gas
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA