Press release
Global Cold Insulation Market Growth Prospects, Future Industry Landscape 2033 | BASF SE, Huntsman Corporation, The Dow Chemical Company, Armacell International Holding Gmbh
Cold Insulation Global Market Report
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Cold Insulation industry. This report on Cold Insulation market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The cold insulation market size has grown rapidly in recent years. It will grow from $6.2 billion in 2023 to $6.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. 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 $9.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
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Key Market Players:
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
Market Drivers:
According to the Cold Insulation Market Report 2024 by The Business Research Company, the key factors driving the growth of the Cold Insulation market, includes 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.
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Market segments for Cold Insulation include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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