Market overview of the global cold insulation market
Technavio’s market research analyst predicts the global cold insulation market to grow at a rate of 9% during the forecast period. The rising energy costs is a crucial driver for the growth of this market. Equipment such as refrigerators and air conditioners consume large amounts of energy and use cold insulation materials to minimize the energy loss.
The rise of infrastructural development has also positively contributed to the market growth. Greenfield projects, high rise buildings, residences and commercial spaces are being built all over the globe. These infrastructural developments are focusing on minimizing the use of energy leading to an increased usage of cold insulation materials.
Segmentation by type and analysis of the cold insulation market
- Fiberglass
- Polyurethane and polyisocyanurate foam
- Polystyrene foam
Fiberglass accounted for 56% of the market shares during 2014. A fiberglass is an eco-friendly form of cold insulation material. It is energy-efficient as well as easier and cheaper to produce than other cold insulation materials.
Segmentation by application and analysis of the cold insulation market
- Oil and gas industry
- Refrigeration
- Chemicals and cryogenic gases
- Heating, ventilation, and air conditioning (HVAC)
The oil and gas industry led the global market during 2014 with a market share of around 64%. The report predicts this segment to grow at a rate of 8 % during the forecast period. Cold insulation materials are primarily used in the pipelines that run through a number of countries and continents. These pipelines are insulated with cold insulation materials to prevent varied temperatures having an effect on the oils and gases that are transported through these pipelines.
Geographical segmentation and analysis of the global cold insulation market
- APAC
- Europe
- North America
- ROW
Europe is the largest market for cold insulation materials. The research report predicts the region to grow at a rate of 9% during the forecast period. The substantial investment in infrastructure being made in this region is driving the market growth. Countries such as Germany, France, Spain, and the UK are the market leaders in this region.
Competitive landscape and key vendors
The global cold insulation 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.
The leading vendors in the market are –
- Armacell
- Aspen Aerogels
- BASF
- Bayer
- Huntsman
Other prominent vendors in the market include Arabian Fiberglass Insulation, CertainTeed, Evonik, Fletcher Insulation, and Dow Chemical.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global cold insulation market?
- What are the key market trends impacting the growth of the cold insulation market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global cold insulation market?
- Trending factors influencing the market shares of the APAC, Europe, North America and ROW?
- What are the key outcomes of the five forces analysis of the cold insulation market?
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