Global Cold Insulation Market, By Type (Polyisocyanurate, Polyurethane Foam, Nitrile Rubber, Phenolic Foam, Ceramic Fiber, Polystyrene Foam), End Use (Commercial and Industrial), Application (HVAC, Chemicals, Oil and Gas, Refrigeration, Others) – Industry Trends and Forecast to 2030.
According to an article which has shared by The Economic Times, sales of cooling appliances augmented by 15 percent in the year 2020 as compared to 2019 in 2022 as stated by major manufacturing companies of consumer electronics such as Lloyd Haier and Godrej Appliances. Cold insulation avoid condensation on the surface, maintains low temperature for process control and preserve cooling. As a result the demand for the cold insulation increases in refrigerator and other cooling devices which further enhances the market growth.
Data Bridge Market Research analyses that the cold insulation market is expected to reach USD 11.30 billion by 2030, which is USD 5.75 billion in 2022, registering a CAGR of 8.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Cold Insulation Market Scope and Segmentation
2023 - 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Polyisocyanurate, Polyurethane Foam, Nitrile Rubber, Phenolic Foam, Ceramic Fiber, Polystyrene Foam), End Use (Commercial and Industrial), Application (HVAC, Chemicals, Oil and Gas, Refrigeration, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
BASF SE (Germany), Owens Corning (U.S.), ROCKWOOL A/S (Denmark), SAINT-GOBAIN (France), Huntsman International LLC (U.S.), Armacell (Luxembourg), Dow (U.S.), Morgan Advanced Materials (U.K.), Evonik Industries AG (Germany), Knauf Insulation (U.S.), Kingspan Group (Ireland), Recticel (Belgium), Aspen Aerogels, Inc. (U.S.), Johns Manville (U.S.), Beijing New Building Material (Group) Co., Ltd. (Japan), Atlas Roofing Corporation (U.S.)
Cold insulation is a process that provides a mixture of two or more materials used to avoid heat gain or heat loss. Cold insulation is extensively used for the temperature below the ambient threshold that is proficient of preventing long-term degradation and condensation and moisture intrusion.
Cold Insulation Market Dynamics
- Rapid growth and expansion of oil and gas industries
The oil and gas industry is one of the core industries which plays an important role in influencing the decision-making for all the other major sections of the economy. In the oil and gas industry, cold insulation is used in the liquefaction plant and for insulation of LNG storage tanks, where natural gas covert into liquid state. The increase in the growth of oil and gas production will ultimately increase the demand for the cold insulation which will be expected to propel the market's growth.
- Rising demand of cold insulation in chemical industry
Cold insulation materials highly used in chemical industry, these materials are mainly used in industrial and petrochemical gases. These materials reduce the risk of damage or corrosion and offer excellent insulation. Moreover, they enhance process control and increase the energy efficiency of the chemical process. One of the prominent applications of cold insulation materials in chemical industry is the industrial treatment of gases. The demand for cold insulation materials for this application in chemical industry is expected to surge very rapidly. As a result, further enhance the market growth during the forecast period.
- Growing demand of cold Insulation for air-conditioning and refrigeration devices
The growing demand for air-conditioning and refrigeration devices is likely to drive the growth of the market during the forecast period. Refrigeration devices are those devices which are used to remove heat from an enclosed space to lower the temperature, whereas air conditioning devices cools, heats, or dehumidifies spaces in non-residential and residential settings. Cold insulation helps air conditioning and refrigeration devices by avoiding condensation and reducing energy loss in the unit to keep it dry and cool. Hence, growing demand for air-conditioning and refrigeration devices is driving the growth of the cold insulation market.
- Rising commercial building and construction activities
Building and construction activities are growing rapidly all over the world owing to economic reforms and the increasing disposable income of individuals. The increasing population is resulting in the growing need for more commercial sector buildings. Phenolic foam, cellular glass, and polystyrene foam-based cold insulation is being extensively used in the building and construction of floors, roofs, ceilings and walls to maintain the required temperature inside the building. Therefore, increasing commercial building and construction activities will create lucrative opportunities for the market growth.
- Availability of Substitutes
Availability of other substitute insulators such as extruded polystyrene insulation (EPS), refractory ceramic fibers (RCFs) and expanded polystyrene insulation (EPS) are expected to hamper the growth of the ceramic foam market growth. As these substitutes also offer similar insulation benefits across the many industry. Furthermore, the alternatives also provide various benefits such as high dimensional stability, heat & cold resistance, fire protection and also repels water, prevents. Thus, these alternatives act as a major challenging factor for the market growth during the forecast period.
This cold insulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cold insulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In 2021, Wynnchurch Capital, L.P., acquired Insulation Corporation of America for an undisclosed amount. With this acquisition, Insulation Corporation of America is expected to strengthen Wynnchurch Capital’s platform by increasing its reach into unserved markets. Insulation Corporation of America is a manufacturer of polystyrene foam products for applications such as packaging, cold chain, building insulation, infrastructure construction and operating in the cold insulation market.
- In 2020, Armacell launched a flexible aerogel blanket of the newest generation for cryogenic and dual-temperature applications named ArmaPET. The unique features of this insulation product include high-temperature and dual-temperature aerogel insulation properties, which widen the temperature capabilities from -180 oC to +650 oC.
- In 2022, Tiger India Private Limited introduced four new vacuum-insulated bottle models to expand its footprint in India. These vacuum-insulated bottle models products support in keeping carbonated drinks cool for a long period of time.
- In 2022, Owens Corning launched FOAMGLAS Perinsul SIB for high-performance buildings. FOAMGLAS Perinsul SIB is a thermal bridging solution which is made up of cellular glass, allowing it to remove thermal bridging beneath from exterior masonry veneer walls.
Global Cold Insulation Market Scope
The cold insulation market is segmented on the basis of type, end use and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Polyurethane Foam
- Nitrile Rubber
- Phenolic Foam
- Ceramic Fiber
- Polystyrene Foam
- Ice Rings
- Food Processing
- Power Plants
- Oil and Gas
Cold Insulation Market Regional Analysis/Insights
The cold insulation market is analyzed and market size insights and trends are provided by country, type, end use and application as referenced above.
The countries covered in the cold insulation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to dominate the cold insulation market in terms of revenue growth and market share owing to the augmented construction spending in nations such as India, China, and Japan. Furthermore, favourable government rules and regulations to increase the energy efficiency of buildings will further boost the market growth in this region.
Europe is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the government efforts to increase the energy efficiency of public infrastructure in this region. Moreover, existence of leading thermal insulation companies is expected to boost the market growth in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cold Insulation Market Share Analysis
The cold insulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cold insulation market.
Some of the major players operating in the cold insulation market are:
- BASF SE (Germany)
- Owens Corning (U.S.)
- ROCKWOOL A/S (Denmark)
- SAINT-GOBAIN (France)
- Huntsman International LLC (U.S.)
- Armacell (Luxembourg)
- Dow (U.S.)
- Morgan Advanced Materials (U.K.)
- Evonik Industries AG (Germany)
- Knauf Insulation (U.S.)
- Kingspan Group (Ireland)
- Recticel (Belgium)
- Aspen Aerogels, Inc. (U.S.)
- Johns Manville (U.S.)
- Beijing New Building Material (Group) Co., Ltd. (Japan)
- Atlas Roofing Corporation (U.S.)