Cold Insulation Market Overview: —
Market Research Future (MRFR) postulates that the global cold insulation testing market is slated to register a CAGR of 5.2% during the forecast period (2018-2027) owing to the high energy prices globally. Insulation can be described as a material or a blend of two or more materials which are used to avoid heat gain or heat loss in order to save valuable energy. Insulation can protect the environment from greenhouse gases and are available in different shapes and sizes as per different applications. Insulation helps to amplify the work efficiency of the systems where they are implemented. Cold insulation forms an integral part of industries which require better energy rates. Without the presence of cold insulation, manufacturing processes will become tedious due to loss of energy.
The global cold insulation market is anticipated to garner a market valuation of USD 5 million over the forecast period. Additional factors contributing to the market ascension include the stringent laws introduced by the government to curb high carbon emissions and the growing presence of experienced and skilled workforce. Lower manufacturing costs and higher awareness towards environment-friendly approach are estimated to promote the adoption of cold insulations on a larger scale.
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Cold Insulation Industry Update:
The global cold insulation market is governed by several trends that have a huge role to play in success and development. One the major ones is the rise of infrastructural development. As more commercial and residential spaces are built across the world the demand for cold insulation also rises.
May 2019: California recently introduced a law that requires all houses to include solar panels on the roof starting from 2020. This has also pushed various builders to undertake insulation as part of the net-zero building initiative.
November 06, 2018: One of the leading building material producers in the European region, the Wienerberger Group has recently entered into a strategic partnership with the Interbrand Group. The two companies together have intended to develop sustainable materials with optimal insulating features.
Cold Insulation Market Key Players:
The prominent players operating the global cold insulation testing market comprises Certain Teed, Kingspan Groups PLC, Dongsung Finetec Corp, Aspen Aerogels, Dow Chemicals, Huntsman Corporation (U.S.), Armacell International Holding Gmbh, The DOW Chemical Company, BASF SE, Bayer Material Science, Owens Corning, and Evonik.
Cold Insulation Market Regional Analysis:
Geographically, the cold insulation testing market span across regions namely, Europe, Asia Pacific, America, and the Middle East & Africa.
Considering the global scenario, the cold insulation testing market experiences an immense growth rate in the Asia Pacific region. With the widespread application in the refrigeration, chemical, HVAC, and oil and gas market, the market is estimated to flourish in this region. The market is likely to experience a push in its growth owing to the low set up cost of the manufacturing units, availability of skilled and cheap labors, and low operating cost. Moreover, the presence of economies China, India, and Korea, offering favorable government policies and norms are further contributing to the market growth in this region.
The North American region is considered a leading region with the presence of the U.S.A. occupying 70.1% of the market share. Established market players like Rockwool, Huntsman, and Owen Corning offer huge scope for the market growth in this region. Moreover, technological advancements and huge investment in R&D has resulted in the development of new materials and techniques which have a very less impact on the environment. Such factors are triggering the demand for cold insulation testing market in this region.
Cold Insulation Market Segmental Analysis:
The global cold insulation testing market has been segmented on the basis of material and end-use industry.
By mode of material, the global cold insulation testing market has been segmented into fiberglass, phenolic foam, polyurethane foam, polystyrene foam, and others. Among these, the polyurethane foam is considered to occupy a significant market share in the global market. The growth is credited to the unique properties of polyurethane foam which makes it an ideal material to be used in several insulation applications. They also possess have good strength, low thermal conductivity, low water absorption, lightness, and high chemical resistance which enhances its demand.
By mode of end-user industry, the global cold insulation testing market has been segmented into chemicals, oil and gas, refrigeration, HVAC, and others. Among these, the oil & gas sector is considered to remain a significant segment as cold insulation materials are extensively used for insulating storage tanks. The conversion of natural to liquid gas require cold insulation materials which further fuels the growth of the segment.
Cold Insulation Market Table Of Contents:
1 Report Excerpts
2 Market Definition
3 Research Methodology
4 Forecast Indicators
5 Market Analysis
Cold Insulation Market Table Of Contents to be Continue…….,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/global-cold-insulation-market-793
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Name: Abhishek Sawant
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Organization: Market Research Future
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Release ID: 88926467