This market research report includes a detailed segmentation of the global cold insulation market by product types (fiberglass, polyurethane and polyisocyanurate foams, and polystyrene foam) and by application (oil and gas industry, refrigeration, chemicals and cryogenic gases, and HVAC). It outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The key vendors analyzed in this report are Armacell, Aspen Aerogels, BASF, Bayer, and Huntsman.
Technavio has released updated information on its new market research report, global cold insulation materials market, which is expected to grow at a CAGR of around 9% between 2015 and 2019. This market’s growth can be attributed to the development of the oil and gas industry coupled with the rising demand for natural gas in industrial applications and households. Europe is the largest market for cold insulation materials, occupying around 36% of the total market share. Huge infrastructure investments are driving this region’s market growth. Countries such as Germany, France, Spain, and the UK are the market leaders in this region.
“Rise in the number of automobiles and increased frequency of industrial development has boosted the consumption of fossil fuels especially oil and natural gas. Various refineries worldwide are focusing on increasing the oil and gas production capacity, besides exploring new shale deposits. Such increased requirement for oil and gas has fueled the capacity expansion of facilities producing cold insulation materials to meet the growing needs of the end-users,” says Sriram Mohan, Lead Analyst, Metals & Minerals, Technavio Research.
A fiberglass is an eco-friendly form of cold insulation material, and covers around 56% of the total market share. It is energy-efficient as well as easier and cheaper to produce than other cold insulation materials. It has a low coefficient of thermal expansion and is highly durable.
Market share of types of cold insulation materials 2019
Source: Technavio Research
The leading vendors in the global cold insulation materials market are Armacell, Aspen Aerogels, BASF, Bayer, and Huntsman. The market is fragmented due to the presence of a number of suppliers. Most of the vendors of cold insulation materials are located in developed countries such as the US and Germany.
A more detailed analysis is available in the Technavio report, Global Cold Insulation Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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