Market Synopsis of Cold Insulation Market: —
Cold Insulation refers to low temperature application insulation methods used in industries such as oil & gas, chemicals, food & beverage, and refrigeration. It is applied over processing lines such as pipes, ducts, tanks, fittings, and valves to reduce operational costs and increase process efficiency. A huge amount of insulation material demand will be seen in future due to increasing applications for food storage, chemicals storage, LNG storage and some amount of cryogenic medical applications. The market for Global Cold Insulation is projected to grow at a CAGR of about 7-8% during the forecast period.
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• Rising energy prices, strict government laws for energy efficiency, rising environmental concerns about carbon dioxide emissions are the chief growing drivers for the insulation market
• A major restraint for this market is the health hazards caused due to improper material handling
• Asia-Pacific market is expected to experience the fast growth as compared to other regions within the cold insulation market
The market has been majorly segmented on the basis of Type which includes segments Fiber Glass, Polyurethane foam, Polystyrene foam, Phenolic foam and others. Others category in this segment include aerogel, nitrile rubber, cellular glass, and perlite as the major contributing markets. The market for cold insulation is also categorized on the basis of Application into major end-users namely, oil & gas, chemicals, refrigeration, HVAC, and others. Other end-users of this market majorly include insulation applications for rocket fuel handling, medical applications, and biological applications.
Regional Analysis of Cold Insulation Market:
Globally, Europe holds the largest share within the Cold Insulation Market, on account of factors such as to strict laws by government on sustainable materials, energy savings guidelines and Greenhouse gas emissions guidelines. Asia-Pacific holds the second largest share within the Cold Insulation Market. It is also expected to be fastest growing market; It is projected to grow at a CAGR of XX% and is expected to reach at US$ XXX Million by the end of the forecast period.
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Key Players for Cold Insulation Market:
The key players profiled and analyzed in this market research report are BASF SE, Bayer Material Science, The Dow Chemical Company, Evonik Industries, Dongsung Finetec Corporation, Fletcher Insulation Group, and Huntsman Corporation,. The pioneer companies in this business are already taking efforts to increase their global presence by taking strategic decisions like expansion in different countries, entering into joint ventures, finding distributors to strengthen the supply chain network globally.
Key Points from Table of Content:
10 Company Profiles
10.1 Bayer Material Science
10.1.1 Business Overview
10.1.3 Product Portfolio
10.2.1 Business Overview
10.2.3 Product Portfolio
10.3 Basf Se
10.3.1 Business Overview
10.3.3 Products Portfolio
10.4 Dow Chemicals
10.4.1 Business Overview
10.4.3 Products Portfolio
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