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The Cold Insulation Market has observed major trends brought by the rapid increase of demand for energy-efficient products, the regulations that are aimed at proctecting the environment, and the growth of sectors that are in need for effective thermal insulation. Insulation is a key element in maintaining a low temperature environment, restricting and/or preventing heat transfer in a variety of industries ranging from oil and gas to chemicals and refrigeration. The green trend specifically includes aging into the formation of energy efficient and environment-friendly building and industrial facilities.
O&G is the key sector that determines trends in cold insulation along with other industries. The exploit and producing of hydrocarbons mostly occupy with the operating extreme harsh condition e.g. low temperature, therefore, seen as a chief from which heat transfer is prevented and efficiency is kept by taking good of cold insulation. This fast track is predicted to continue in view of the dynamic scale of oil and gas industry and the rising demand for durable insulation in the extreme areas of operation.
ESP and environmentally conscious regulation and standards as the driving forces behind the cold insulation industry are what companies in this industry are looking to adapt to quickly. In a large number of countries, governments have formulated a policy to lower carbon emissions and intensify energy-saving actions. Energy efficient cold internal materials are starting to be used in construction and the building standards which are aligned with the green building are becoming popular. On the one hand, this increase relies on greening and providing effective energy solutions with light footprint by the sector as the key target and goal.
Technology-driven innovations in the arena of insulation materials and manufacturing processes are the key responsibilities for being re-shaped the current market trends. Manufacturers are demonstrating interest in research and development of newer cold insulation material that provides good insulation, long life, and easy to install. The modernization of materials considered to be a state-of-the-art technology, which includes aerogels and vacuum insulation panels, is indeed a new trend in the game of Cold Insulation, and it presents a wide range of uses and choices in different industrial sectors.
Discoveries and innovations within the pharmaceutical and healthcare sectors are the now critical chief drivers of the cold insulating solutions demand. Taken place among cold storage and transport of such as temperature-sensitive vaccines, biological specimens, and medication is implied the need of maintaining the temperature range which is going to be achieved by the cold insulation. With respect to that more and more surfaces for infrastructure of healthcare and delivery of pharmaceutical products are used the Cold Insulation Market is facing an increase of cold chain logistics in the number of applications.
Just like the interests of world economies effect the Crude Insulation Market, trends also show this effect. Economy as a whole, for instance in areas such as building and manufacturing, directly derives the cold materials demand from the conditions of this economy. Swings in industrial activities and might cause relevant demand rigidity, giving leverage to suppliers which can subsequently hinder manufacturing processes to react to new conditions quickly.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Availability of skilled workforce and low cost of manufacturing |
Global Cold Insulation Market Highlights:
Global Cold Insulation Market Overview
The Cold Insulation Market Size was valued at USD 7.14 Billion in 2023. The cold insulation industry is projected to grow from USD 7.7 Billion in 2024 to USD 14.03 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2024 - 2032). Insulation is a material or a blend of two or more materials that can be used to avoid heat loss or heat gain to save the valuable energy. The material is available in any size, shapes as per different applications. Insulation materials have the ability to protect the environment from green house gasses. Insulation increases the working efficiencies of the system where it is installed. Strict laws for energy preservation, environment protection, sustainable development has prompted rise in demand of insulation products. Insulation materials can serve as acoustic and also thermal protection. Thermal Insulation can be divided into two sorts as indicated by temperatures they serve: Cryogenics and Refractory. Cold Insulation Market: Applications According to applications, Oil and Gas accounted for the largest consumption (40%) of materials due to increase in LNG transportation, cryogenic insulation demand. The Chemical application i.e. the increase use of liquid forms of industrial gases, for e.g. liquid nitrogen in various applications such as surgery, manufacturing has led to rise in insulation demand The Chemical application accounted for 22% of the total demand in 2012.
Cold Insulation Market: Market Growth Influencer Significant growth in the end user market which include chemicals, refrigeration, HVAC and oil and gas are major contributors to the growth of the Cold Insulation market. Availability of skilled workforce and low cost of manufacturing is another factor which boosts the Cold insulation market.
List of Key Players in the Cold Insulation Market
- Bayer Material Science
- Huntsman Corporation (U.S.)
- Evonik
- BASF SE
- Armacell International Holding Gmbh
- The DOW Chemical Company
- Owens Corning
- Aspen aerogels
- Dongsung Finetec Corp
- Dow Chemicals
- Certain Teed
- Kingspan Groups PLC
Cold Insulation Market: Regional Analysis
Asia Pacific: Asia Pacific has show immense growth in the Cold insulation market with widespread application in the chemical, refrigeration, oil and gas and HVAC market. Low cost of setting up a manufacturing unit, relatively cheaper and skilled labor and low operating cost all have played a major role in boosting the growth rate of the Asian Cold Insulation market. Asia consists of markets such as India, China, Korea etc which support the cold insulation market with their favorable government norms and policies. China is one of the biggest markets in this region with its growth rate strong enough to sustain efficient manufacturing.
North America: North American Region is another leading region for the Cold Insulation market. In the North American region USA is the biggest market capturing around 70.1% in 2012. Already established entities like Huntsman, Rockwool, Owen Corning provide a great scope for the Cold Insulation market in this region. The Canadian market for Cold Insulation was estimated to be 62.4 thousand tons in 2012 and the US cold insulation market was estimated to be around USD 542 million. Heavy investment in R&D and technological development has led to development of new techniques and material which have minimal effect on environment which results in healthy boost in the Cold Insulation Market.
Cold Insulation Market Segmentation
End Use Industry:
- Oil and Gas
- Chemicals
- HVAC
- Refrigeration
- Others
Material:
- Phenolic Foam
- Fiber Glass
- Polystyrene Foam
- Polyurethane Foam
- Other
The reports also covers brief analysis of Geographical Region includes:
Americas
- North America
- US
- Canada
- Mexico
- Latin America
Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- U.K
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
Asia– Pacific
- Asia
- China
- India
- Japan
- South Korea
- Rest of Asia
- Pacific Countries
- Australia
- New Zealand
- The Middle East& Africa
Every report of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report also gives a broad study of the different market segments and regions.
Recent Development
November 2021-Frank And Oak (Canada), a sustainable clothing company has introduced its latest men’s outerwear range for fall/winter 2021, which includes the sustainably developed Alpine parka. This Alpine winter coat will be available in rosin, coffee bean, and black. The latest outerwear collection has been developed using organic and recycled materials, such as animal-free PrimaLoft insulation, and 100% polyester fibres. The Alpine parka is a combination of classic design along with function, created to lock in the heat while keeping out the cold wind, coupled with 2-layer breathable fabric, a recycled sherpa-lined hood, as well as ribbed storm cuffs. Its estimated warmth rating is around -25° C to -10° C.
December 2021- LifeLabs (California) introduces the warmest jacket in the world, claims the company. With a 9.25 CLO score, this MegaWarm jacket can deliver close to 38% higher warmth level compared to a Canada Goose Snow Mantra (6.7 CLO), 17% higher warmth level than the Arc’teryx Leaf Cold WX Parka SVX (7.91 CLO) and around 53% higher warmth compared to the North Face Summit AMK L6 Parka (6.06 CLO). The jacket has been powered by the company’s WarmLife technology, which is an advanced textile reflecting a human’s complete radiant heat right back to the body. With the use of aluminium’s nano-layer, this jacket is able to attain maximum CLO rating across the globe, while its minimalist design helps develop a more packable, more sustainable, and lighter jacket.
October 2021 : Eco Depot Inc., a consumer goods company in Nevada, announces that its subsidiary Bronya Canada Group has been granted the required R-Value for its Bronya Climate Shield Façade product range. The R-value indicates the rate at which the insulation type can keep the heat from either entering or leaving the house. The insulation R-values differ depending on the type, density and thickness of the cold insulation material. Generally, a better insulation R rating would mean higher climate control and energy efficiency for the house. The received R 20-Value will now help the brand to commercialize its Bronya Climate Shield product range in the cold insulation market. The wide range of Bronya Climate Shield products help foster energy savings, energy efficiency, and bring down carbon emissions via energy conservation.
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