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Rising Demand For Frozen Food, Fueled By Convenience, Accelerates Growth In The Refrigeration Insulation Materials Market: A Key Catalyst Accelerating Refrigeration Insulation Materials Market Growth in 2025
Refrigeration Insulation Materials
Refrigeration Insulation Materials Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of refrigeration insulation materials has expanded robustly in the preceding years. The market value is predicted to surge from $4.4 billion in 2024 to $4.66 billion in 2025, progressing at a compound annual growth rate (CAGR) of 6.0%. Various factors contributing to the growth during the historic period include stringent energy efficiency policies, expansion of the refrigeration sector, environmental regulations, heightened consumer awareness, commercial and industrial construction, and the development of cold chain logistics.
Refrigeration Insulation Materials Market Size Forecast: What's the Projected Valuation by 2029?
We anticipate robust expansion in the refrigeration insulation materials market in the upcoming years. The market is projected to escalate to $6.2 billion by 2029 at a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this growth during the forecast period include the globalization of food supply chains, a concentration on sustainable insulation, increasing popularity of frozen and chilled foods, government incentives, and the rise of e-commerce. Key trends expected during this period comprise of developments in aerogel insulation, customization and prefabrication, the incorporation of nanotechnology, smart building technologies, and technological advancements.
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What Are the Drivers Transforming the Refrigeration Insulation Materials Market?
The refrigeration insulation materials market is predicted to thrive due to the escalating demand for frozen food. Frozen food is a term that applies to food products that have undergone freezing, a preservation method that involves reducing the food's temperature below its freezing point, typically around -18 degrees celsius (0 degrees fahrenheit). The preference for frozen food is due to its convenience, extended shelf life, and the preservation of its nutritional value, making it an ideal option for time-pressed consumers seeking swift and simple meal solutions. Refrigeration insulation, by boosting energy efficiency, reducing operational costs and sustaining product quality, is an essential aspect that fuels the growth of the frozen food industry, and it plays a critical role in meeting the convenience-based food needs of customers. For example, in January 2023, the American Frozen Food Institute (AFFI), a non-profit organization based in the US, stated that in 2022, frozen food sales in the US saw a remarkable 8.6% rise, amounting to a total of $72.2 billion. As a result, the mounting demand for frozen food will continue to stimulate the growth of the Refrigeration insulation materials market.
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What Long-Term Trends Will Define the Future of the Refrigeration Insulation Materials Market?
The escalation of product innovations is a significant trend witnessed in the refrigeration insulation materials market, with top companies in the market developing novel products to maintain their market standing. For instance, Honeywell International Inc., a technology and engineering corporation based in the US, unveiled a hydro fluoro olefin (HFO)-based refrigerant named Solstice 456A, targeted at the European automotive aftermarket in May 2022. This pioneering technology has the capability to cut down the greenhouse gas (GHG) emission impact of current vehicle air conditioning systems by over 50%. Solstice 456A serves as a simple, budget-friendly drop-in service solution for vehicles produced prior to 2017. It plays a role in catering to the requirements of vehicle owners and auto repair shops amid the continuing EU climate-related legislation. The product range includes refrigerants for supermarkets, car and truck air conditioners, insulation blowing agents, propellants for personal and home care, and cleaning solvents, helping clients lower greenhouse gas emissions and enhance energy efficiency without compromising on the performance of the end-product.
Which Segments in the Refrigeration Insulation Materials Market Offer the Most Profit Potential?
The refrigeration insulation materials market covered in this report is segmented -
1) By Type: Elastomeric Foam, PU And PIR, Polystyrene Foam, Fiberglass, Phenolic Foam, Other Types
2) By Applications: Commercial, Industrial, Cryogenic, Refrigerated Transportation
3) By End-Use Industry: Food And Beverage, Chemicals And Pharmaceuticals, Oil And Gas And Petrochemicals, Other End-Use Industries
Subsegments:
1) By Elastomeric Foam: Closed Cell Elastomeric Foam, Open Cell Elastomeric Foam
2) By PU And PIR (Polyurethane And Polyisocyanurate): Rigid PU Foam, Flexible PU Foam, PIR Foam
3) By Polystyrene Foam: Expanded Polystyrene (EPS), Extruded Polystyrene (XPS)
4) By Fiberglass: Batts And Rolls, Rigid Fiberglass Boards
5) By Phenolic Foam: Rigid Phenolic Foam, Flexible Phenolic Foam
6) By Other Types: Aerogel, Cellulose Insulation
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Which Firms Dominate the Refrigeration Insulation Materials Market by Market Share and Revenue in 2025?
Major companies operating in the refrigeration insulation materials market include Armacell International GmbH, BASF SE, Johns Manville Corp., Kingspan Group plc, L'Isolante K-Flex S.p.A., Lydall Inc., Morgan Advanced Materials plc, NMC SA, Owens Corning Fiberglass Company, Rinac India Ltd., Zhejiang Zhenshen Thermal Insulation Technology Co. Ltd., Zotefoams plc, Cabot Corporation, Saint-Gobain S.A., Dow Chemical Company, Huntsman Corporation, Sekisui Chemical Co. Ltd., Nitto Denko Corporation, Thermaflex International Holding B.V., Knauf Fiber Glass, Etex Building Performance International S.A.S., Isover AB, Kflex India Pvt. Ltd., Aspen Aerogel Inc., Insulated Products Corp., Thermal Products Company Inc., LiteForm Technologies LLC, PPG Industries Inc.
Which Regions Offer the Highest Growth Potential in the Refrigeration Insulation Materials Market?
Europe was the largest region in the refrigeration insulation materials market in 2024. The regions covered in the refrigeration insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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