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Worldwide Cold Insulation Industry to 2026 - Europe Dominates Consumption, While China Leads Global Growth in Demand

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Global Market for Cold Insulation

Global Market for Cold Insulation
Global Market for Cold Insulation

Dublin, June 07, 2022 (GLOBE NEWSWIRE) -- The "Cold Insulation - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Insulation refers to a material or composite materials utilized for conserving energy by retarding the flow of heat. Insulation materials offer the capability of preventing or reducing equipment damage that could occur as a result of fire exposure or corrosion. In addition, these materials enhance the operating efficiency of industrial and commercial installation systems such as heating and cooling, process, power, plumbing, and ventilation.

Insulation can be categorized on the basis of its operating temperature range as thermal, cryogenic, and refractory. Cold insulation reduces leakage of energy from infrastructure/equipment and improves their operational efficiency. It prevents moisture intrusion, condensation and long term degradation. Materials used for cold insulation have closed structures for preventing heat flow. Applications requiring maintenance of lower temperatures for process control, for conserving refrigeration and for avoiding surface condensation typically use cold insulation materials. Cold insulation thus serves as barrier to flow of heat. Cold insulation materials also hold the ability to save environment from depletion of ozone layer.

Amid the COVID-19 crisis, the global market for Cold Insulation estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. Fiber Glass, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Phenolic Foams segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $685.6 Million in 2021, While China is Forecast to Reach $892.8 Million by 2026

The Cold Insulation market in the U.S. is estimated at US$685.6 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$892.8 Million by the year 2026 trailing a CAGR of 8.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

The global cold insulation market is being driven by strong focus on energy efficiency, environmental awareness, rapid industrialization and demand for air conditioning and refrigeration systems. The global market is anticipated to be propelled by strong focus on energy efficiency as a result of increasing energy costs and concerns over greenhouse gas emissions. Ongoing government efforts to make public infrastructure more energy efficient and reduced infrastructure spending across various countries are expected to pave way for adoption of cold insulation.

In addition, rising disposable incomes and demand for air-conditioning devices across emerging countries is likely to further impel the market growth. Cold insulation demand is expected to benefit from increasing consumption of cryogenic gases like LNG and LPG coupled with the need for LEED certification and adoption of cryogenic equipment in the oil & gas industry are anticipated create a fertile ground for expansion of the cold insulation market.

In addition, rapid industrialization across developing economies and stringent regulations requiring players to upgrade infrastructure for reducing energy losses are poised to drive the market in the coming years. On the flip side, huge investment and raw material costs are hindering the market growth. Volatile prices of key materials such as benzene, MDI and TDI needed to produce polystyrene and polyurethane based insulation materials are affecting profit margins for players. Moreover, weak quality control standards across developing economies due to inadequate environmental awareness and low government intervention are inhibiting the market expansion.

Polystyrene Foams Segment to Reach $691.5 Million By 2026

Polystyrene foams is water-proof thermoplastic foam with exceptional temperature insulation properties. The material is being extensively used as a cold insulation material on account of its superior tensile and compressive strength. Polyisocyanurate foams, a result of technology improvements in PU foams over the years, is an important cold insulation type. In the global Polystyrene Foams segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$379.3 Million in the year 2020 will reach a projected size of US$542.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$86.7 Million by the year 2026.

Select Competitors (Total 80 Featured) -

  • Arabian Fiberglass Insulation Company Ltd.

  • Armacell International S.A.

  • Aspen Aerogel Inc.

  • BASF SE

  • Bradford Insulation Industries Ltd.

  • Covestro AG

  • Daehyup Tech Co., Ltd.

  • Fletcher Insulation

  • G+H Group

  • Huntsman Corporation

  • Johns Manville

  • Kingspan Group plc

  • Knauf Insulation Ltd.

  • Morgan Advanced Materials Porextherm Dammstoffe GmbH

  • Owens Corning

  • Rockwool International A/S

  • The Dow Chemical Company

  • URSA Insulation, S.A

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of COVID-19 and a Looming Global Recession

  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP

  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021

  • Cold Insulation: A Prelude

  • A Comparison of Common Available Insulation Materials

  • Key Characteristics of Cold Insulation Materials

  • Hot Insulation versus Cold Insulation

  • Increasing Environmental Concerns and the Critical Need to Minimize Energy Loss Drive Demand

  • Polyurethane Foam: Largest and Fastest Growing Cold Insulation Material Type

  • Fiber Glass: A Traditional Widely Used Cold Insulation Material

  • Phenolic Foam Seeks to Widen Addressable Market

  • Oil & Gas Applications Dominate Cold Insulation Sales

  • Europe Dominates Consumption, While China Leads Global Growth in Demand

  • Competition

  • World Brands

  • Recent Market Activity

  • Cold Insulation - Global Key Competitors Percentage Market Share in 2022 (E)

  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rising Concerns over Greenhouse Gas Emissions Extends Growth Opportunities

  • Worldwide Greenhouse Gas Emissions by Economic Sector (in %): 2019

  • Worldwide Greenhouse Gas Emissions by Gas (in %): 2019

  • Worldwide CO2 Emissions from Industrial and Fossil Fuel Combustion Processes by Region (in %): 2019

  • WTW Greenhouse Gas Emissions (in gm CO2eq/MJ) for Gasoline, Diesel, CNG, LNG, CNG from Landfill Gas, and LNG from Landfill Gas

  • Pounds of Air Pollutants (CO2, CO, NOx, SO2, Particulates, and Mercury) Per Billion BTUs of Energy for Natural Gas, Oil, and Coal

  • Oil & Gas Sector: Complex Operational Environments Enhance Significance ofCold Insulation Materials

  • COVID-19 Throws New Set of Challenges for Oil & Gas Industry

  • Global Oil & Gas E&P Industry Spending (2015-2021E)

  • Breakdown of Global E&P Spending (in %) by Supply Segment for the Year 2019 & 2020

  • Breakdown of North American E&P Capital Spending (in %) by Type of Company for 2020

  • Cold Insulation in HVAC Sector: Significant Growth Potential

  • Global HVAC Systems Market Size (in US$ Billion) for the Years 2019, 2022 & 2025

  • Global HVAC Market Revenues (in %) by End-Use Sector: 2020E

  • Global HVAC Market Revenues (in %) by Region: 2020E

  • Widespread Deployments of Air Conditioning Equipment Drive HVAC Insulation Demand

  • Global Installed Base of Air Condoning Units (in Millions) for the Years 2016, 2020, 2030, 2040 & 2050

  • Construction and Infrastructure Spending Determines Demand for Cold Insulation Materials

  • Projected Infrastructure Investment Needed (in US$ Trillion) by Region Over the Period 2016-2040

  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040

  • Intensified Demand for Refrigeration Equipment Accelerates Market Expansion

  • Growing Prominence of Cold Insulation in the Food Cold Chain

  • Global Cold Storage Market Revenues (in %) by Product Category: 2020E

  • Investments in Cold Chain Facilities to Set the Tone for Refrigeration Insulation Demand

  • Increasing Cryogenic Equipment Deployments Augur Well for Cold Insulation Market

  • Global Cryogenic Equipment Market Size (in US$ Billion) for the Years 2020, 2022, 2024 and 2026

  • Polyurethane Foam Emerges as a Widely Used Cold Insulation Material

  • Global Polyurethane Foams Market by End-Use Application (2020)

  • Polystyrene Foam: Growth Driven by Use in Insulation Products

  • Global Polystyrene Foams Demand Breakdown by End-Use Sector (in %) for 2020

  • Innovations & Advancements Spearhead Growth

  • Bio-Based Cold Insulation Materials: A Promising Development

  • Stringent Environmental Regulations to Favor Market Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/skbc73

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