Press release
Worldwide consumption of Cold Insulation Materials is projected to increase at 5.8% CAGR end of 2032
Cold Insulation Materials Market
New Study Report on " Cold Insulation Materials Market 2022: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2032" has been Added on PMR.
The global cold insulation materials market was valued at US$ 6.52 Bn in 2021. Worldwide consumption of cold insulation materials is projected to increase at 5.8% CAGR and reach US$ 12.65 Bn by the end of 2032.Growing demand for insulation materials from the oil & gas & chemicals sectors is driving market growth.
East Asia & North America are expected to remain key regional markets for cold insulation material suppliers, expanding at CAGRs of 6.8% and 6.1%, respectively, over the decade.
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Materials or a combination of two or more materials can be used as insulation to stop heat transfer and so save energy. Between -275°C and 15°C are the normal operating temperatures for cold insulation. Numerous industries, including refrigeration, HVAC, oil & gas, and chemicals, use cold insulating material. Growing worries about greenhouse gas emissions are anticipated to drive market expansion during the forecast period. Government support to increase the energy efficiency of public infrastructure is an addition to market expansion.
The report on Cold Insulation Materials Market provided based on the recent developments and data that has been collated from the previous year's looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2022 to 2030. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.
Factors affecting Cold Insulation Materials Market have been studied in a detailed fashion to give a better understanding regarding the current status and the prospects. The various economic and demographic factors that influence the market have been presented in the study. The impact of important markers such as pricing, demand and supply, and population levels have been studied in this report. The forecast regarding Cold Insulation Materials Market extending up to the year 2030 has been provided based on the conclusions from the aforementioned factors.
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Key Players-
BASF SE
Huntsman International LLC
Armacell International S.A
CertainTeed Corporation
Arabian Fiberglass Insulation Co., Ltd
Evonik Industries AG
The Dow Chemical Company
Fletcher Insulation Group
Kingspan Group PLC
Johns Manville Corporation
Knauf Insulation Inc.
Owens Corning
Rockwool International A/S
Aspen Aerogels Inc. and more
Key Takeaways from Market Study
The global market for cold insulation materials is estimated to reach a value of US$ 12.65 Bn by the end of 2032.
The polyurethane foam segment is estimated to witness a CAGR of 6.3% during the assessment period.
Oil & gas is estimated to remain a key application of cold insulation materials and exhibit a growth rate of 5.9% during the forecast period.
The North American market is anticipated to create an incremental dollar opportunity of US$ 1.32 Bn by 2032.
By insulation type, the cellular segment is anticipated to expand at a CAGR of 6.3% over the decade.
"Key market participants are investing a fair share of their revenue in research & development and focusing on collaborations & expansions to boost their global footprint," says a Persistence Market Research analyst.
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About PMR - Chemicals and Materials
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
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