Cold Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cold Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cold insulation market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.25% during 2022-2028.

Cold insulation is utilized wherein the operating temperature is below the room temperature. It assists in preventing condensation, moisture intrusion and long-term degradation. It comprises water, solvent and mastic-based vapor barrier, which is resistant to mechanical damages. Some of the commonly used materials in cold insulation include polyisocyanurate (PIR), polyurethane (PUR) rigid foam or cellular glass, and stainless steel or aluminized steel. At present, it is extensively utilized worldwide on account of its ability to protect the environment from greenhouse gas emissions.

Cold Insulation Market Trends:
With the inflating disposable incomes of individuals, the demand for air conditioning and refrigerating devices is escalating around the world. This represents one of the key factors propelling the growth of the market. Apart from this, a considerable increase in awareness about the energy losses and costs are also contributing to the market growth. Moreover, cold insulation is increasingly being adopted across numerous industries like oil and gas. This, in confluence with rising concerns about the adverse impact of greenhouse emissions, is driving the market. Furthermore, leading market players are investing in research and development (R&D) activities to develop insulation materials through sustainable raw material sources. This, along with various initiatives undertaken by governing agencies of several countries to increase the energy efficiency of public infrastructure, is creating a favorable market outlook. Besides this, the rising adoption of cold insulation in food and chemical storage and cryogenic medical applications across the globe is acting as another growth-inducing factor. Other major factors, such as a surge in energy prices and the increasing usage of liquified petroleum gases (LPG), are anticipated to stimulate the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cold insulation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on insulation type, material type and application.

Breakup by Insulation Type:

Fibrous
Cellular
Granular

Breakup by Material Type:

Fiber Glass
Polyurethane Foam
Polystyrene Foam
Phenolic Foam
Others

Breakup by Application:

HVAC
Chemicals
Oil and Gas
Refrigeration
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Armacell, Aspen Aerogels Inc., BASF SE, CertainTeed (Compagnie de Saint-Gobain S.A.), Covestro AG, Dow Inc., Evonik Industries AG, Huntsman Corporation, Kingspan Group plc and Owens Corning.

Key Questions Answered in This Report:
How has the global cold insulation market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global cold insulation market?
What are the key regional markets?
What is the breakup of the market based on the insulation type?
What is the breakup of the market based on the material type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cold insulation market and who are the key players?
What is the degree of competition in the industry?