Global Refrigeration Insulation Materials Market, By Type (Elastomeric Foam, Polyurethane and Polyisocyanurate, Extruded Polystyrene Foam, Fiberglass, Phenolic Foam, Polyethylene Terephthalate (PET) Foam and Others), Application (Commercial, Industrial, Cryogenic and Refrigerated Transportation), Temperature Range (-160C to -50C, -49C to 0C, 1C to 100C and 101C to 650C), End User Industry (Food and Beverages, Chemicals and Pharmaceuticals, Oil and Gas and Petrochemicals and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Refrigeration Insulation Materials Market
Data Bridge Market Research analyses that the refrigeration insulation materials market will witness a CAGR of 6.4% for the forecast period of 2021-2028 and is further estimated to reach USD 6,100.0 million by 2028. Growth in the demand for refrigeration insulation materials especially in the developing economies like India and China, growing use of refrigeration insulation materials for a wide range of end user applications such as food and beverages, chemicals and pharmaceuticals, oil and gas and other applications, stringent regulations imposed by the government pertaining to greenhouse gas emissions and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the refrigeration insulation materials market.
Refrigeration insulation materials are the materials that play a crucial role in controlling heat gains in industrial refrigeration systems. The refrigeration insulation materials are inserted in the pipes of compressor and the evaporator. The refrigeration insulation materials are responsible for conserving the energy and controlling surface condensation.
Rise in demand for refrigeration insulation materials by the chemicals and petrochemical industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for refrigeration insulation materials and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Rising urbanization, growing technological advancements in the refrigeration technology, rising demand for food preservation and growing demand for LNG will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High costs associated with research and development proficiencies and lack of awareness especially in developing countries will dampen the market growth rate. Stringent regulations from environmental bodies will also impede the market growth rate.
This refrigeration insulation materials market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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, geographical expansions, technological innovations in the market. To gain more info on refrigeration insulation materials market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Refrigeration Insulation Materials Market Scope and Market Size
The refrigeration insulation materials market is segmented on the basis of type, application, temperature range and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the refrigeration insulation materials market is segmented into elastomeric foam, polyurethane and polyisocyanurate, extruded polystyrene foam, fiberglass, phenolic foam, polyethylene terephthalate (PET) foam and others.
- On the basis of application, the refrigeration insulation materials market is segmented into commercial, industrial, cryogenic and refrigerated transportation.
- Based on temperature range, the refrigeration insulation materials market is segmented into -160C to -50C, -49C to 0C, 1C to 100C and 101C to 650C.
- On the basis of end user industry, the refrigeration insulation materials market is segmented into food and beverages, chemicals and pharmaceuticals, oil and gas and petrochemicals and others.
Refrigeration Insulation Materials Market Country Level Analysis
The refrigeration insulation materials market is analysed and market size, volume information is provided by country, type, application, temperature range and end user industry as referenced above.
The countries covered in the refrigeration insulation materials 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, Israel, Egypt, South Africa, 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.
Europe dominates the refrigeration insulation materials market owing to the increase in the research and development activities and presence of major manufacturers in the region. Asia-Pacific will continue to undergo substantial gains during the forecast period and register the highest CAGR owing to the high economic growth in the emerging countries, growing industrialization, and abundant availability of raw materials.
The country section of the refrigeration insulation materials market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 Refrigeration Insulation Materials Market Share Analysis
The refrigeration insulation materials 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 refrigeration insulation materials market.
Some of the major players operating in the refrigeration insulation materials market report are Armacell, Owens Corning, Kingspan Group plc, Morgan Advanced Materials, ETEX, Isover, BASF SE, Kflex, Aspen Aerogel, Zhejiang Zhenshen Insulation Technology Corp. Ltd., Johns Manville, Zotefoams, NMC sa, Cabot Corporation, Lydall, Inc., Saint-Gobain among others.
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