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Cold Insulation Market Research Report 2024

Cold Insulation Market Global Industry Analysis and Forecast (2024-2032) by Type (Polystyrene Foam, Fiberglass, Phenolic Foam, Polyurethane Foam, and Others), Application (Oil & Gas, HVAC, Refrigeration, Chemicals, and Others) and Region.

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Report ID: 271

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Summary TOC Segmentation Methodology

Cold Insulation Market Synopsis

Cold Insulation Market Size Was Valued at USD 7.39 Billion in 2023 and is Projected to Reach USD 15.28 Billion by 2032, Growing at a CAGR of 8.4% from 2024-2032.

Insulation materials are materials or combinations of materials that can be used to prevent the loss or gain of heat to save energy. These materials can be produced in different sizes and shapes, depending on the specific application. Cold insulation involves using a material or combination of materials to prevent the loss or gain of heat to save energy.

  • Cold insulation is the material used in different applications to prevent condensation. Similar to other insulating materials, cold conditions provide low thermal conductivity, strong resistance to fungi, and prevent air leaks. For example, industries like chemicals, oil & gas, and others utilize multilayer cold insulation to prevent harmful ice build-up due to its excellent cold retention capabilities.
  • These insulation materials provide a particular function in severe weather conditions as well. Thermal insulation is utilized to conserve energy, whereas cold insulation is used for temperatures lower than the surrounding threshold, effectively preventing condensation moisture infiltration and long-term damage
  • Cold insulation material is a sealed form utilized to prevent wicking in a system it is placed in by acting as a barrier to heat transfer. They are used in various applications to keep the temperature low for controlling processes, prevent surface condensation, and save refrigeration.
  • Cold insulation, such as polyurethane and polystyrene foam, is commonly used in these situations because it can manage low smoke emissions, control condensation, and resist moisture vapor effectively. Cold insulation materials are applied to constrain heat loss or heat gain to reserve valuable energy.
  • These resources can defend & protect the environment by preventing the depletion of the ozone layer and reducing the release of greenhouse gases due to their high levels of hydrochlorofluorocarbons (HCFCs). Cold insulation technology is utilized to minimize energy wastage in infrastructure to enhance energy efficiency. Materials for cold insulation are utilized in temperature ranges between 15°C and -275°C.

Key Industry Player:

Owens Corning (U.S.), Huntsman Corporation (U.S.), Johns Manville (U.S.), Aspen Aerogels, Inc. (U.S.), Cabot Corporation (U.S.), Anco Products, Inc. (U.S.), CertainTeed (U.S.), Paroc Group Oy (Finland), Armacell (Luxembourg), Saint-Gobain Isover (France), Kingspan Insulation (Ireland), BASF SE (Germany), Knauf Insulation (Germany), Rockwool International A/S (Denmark), Covestro AG (Germany), Evonik Industries AG (Germany), Thermal Ceramics (part of Morgan Advanced Materials) (UK), Ravago (Luxembourg), G+H Insulation GmbH (Germany), L'Isolante K-Flex S.p.A. (Italy), Bridgestone Industrial (Japan), Furukawa Electric Co., Ltd. (Japan), Jinan Shengquan Group Share Holding Co., Ltd. (China), Shandong Luyang Share Co., Ltd. (China), Fletcher Insulation (Australia)

Cold Insulation Market

Cold Insulation Market Trend Analysis

Rising Needs in The Oil and Gas Industry

  • The worldwide oil & gas sector is one of the largest users of cold insulation materials, primarily because of the increasing use of cryogenic insulation equipment in most industrial settings. Oil and gas consumers are increasing the utilization of effective cold insulation materials in cryogenic processes where extremely low temperatures must be preserved while reducing energy loss.
  • This factor is expected to have a significant impact on the growth patterns of the worldwide cold insulation market. The increasing utilization of different cryogenic gases like LPG and LNG is driving the need for eco-friendly cold insulation materials, which will enhance sales opportunities in the worldwide market.

Innovative Materials and Manufacturing Processes

  • Technical developments & Advancements in materials and manufacturing processes are powering significant growth in the market for cold insulation. Manufacturers & Producers are making significant investments in research and development to create new insulation materials with better thermal efficiency, longevity, and ease of use.
  • Cutting-edge technologies like aerogels and vacuum insulation panels are transforming the industry by offering a variety of choices in different industrial sectors. Key factors influencing demand are arising from the pharmaceutical and healthcare industries, where it is crucial to uphold specific temperature ranges for preserving vaccines, biological samples, and drugs.
  • The increasing cold chain logistics structure highlights the importance of dependable cold insulation solutions in healthcare facilities and transportation systems. As these industries upgrade their infrastructure, the market for cold insulation is set to see big growth, providing profitable chances for providers who can offer innovative, environmentally friendly, and effective insulation solutions that meet changing industry requirements.

Cold Insulation Market Segment Analysis:

Cold Insulation Market Segmented Based on by Type & Application.

By Type, Polyurethane Foam Segment Is Expected to Dominate the Market During the Forecast Period

  • Polyurethane foam is ready for significant market expansion, largely because of its lightweight, long-lasting quality, and impressive ability to withstand extreme weather conditions. These characteristics make it very appropriate for a diverse range of uses in a variety of industries including Oil & Gas, Chemicals, HVAC, Refrigeration, and others. An important application of it is in insulation, playing a critical role in making insulation pipes, metal-faced sandwich panels, blocks, and sheets. The material's adaptability is also evident in its important function in highly insulating cryogenic devices, which is predicted to greatly boost market growth.
  • Polyurethane foam's thermal insulation properties in the construction industry help improve energy efficiency, meet tough regulations, and reduce operational costs for buildings. The usage of this knowledge & Technology in HVAC systems advances competence, reductions in energy usage, and surges in market demand. In sectors like Oil & Gas and Chemicals, where insulation and protection from rough & Hard environmental conditions are vital, polyurethane foam is notable for its durability and long lifespan.
  • As industries place more importance on sustainability and efficiency, the implication of polyurethane foam in improving product performance and endurance is growing. Due to constant improvements in manufacturing methods and material advancements, the market for polyurethane foam is anticipated to grow significantly, fueled by its important roles in insulation, protection, and energy efficiency in a variety of industrial uses.

By End User, the Oil & Gas Industry Segment Held the Largest Share

  • The oil and gas sector plays a major role in influencing the worldwide cold insulation market. Due to strict safety rules in offshore areas and the essential requirement for thermal insulation, there is a strong increase in the demand for cold insulation materials. These materials have outstanding characteristics like effective cold retention, ability to withstand fires, minimal smoke production, and resilience to harsh conditions, including resisting deterioration when exposed to sunlight.
  • In cryogenic processes essential for oil and gas operations, it is vital to uphold very low temperatures and reduce energy loss. This leads to the widespread use of efficient cold insulation solutions in various industrial sectors. Moreover, increasing environmental awareness in the sector is driving a change towards sustainable cold insulation materials. The increasing use of cryogenic gases such as LPG and LNG is driving the need for low-carbon insulation options, boosting sales in the worldwide market.

Cold Insulation Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

  • The Asia-Pacific region is set for considerable market expansion due to various important factors. Rising construction expenditures in nations such as China, India, and Japan, along with governmental efforts to improve the energy efficiency of buildings, will drive the need for cold insulation materials.
  • Progress in local manufacturing in China will enhance production capacities, especially in cryogenic insulation for oil and gas ventures in India. The increasing cold chain market in Asia-Pacific, fueled by advancements in the food and healthcare sectors, offers profitable prospects. Countries like China, India, Indonesia, and Vietnam are going through fast industrialization and economic growth, leading to increased levels of production and consumption.
  • The move towards environmentally friendly cold insulation options, such as plant-derived or naturally sourced materials, enhances growth potential. Due to its strong industrialization and favorable government policies, the Asia-Pacific region is established as a leading presence in the worldwide cold insulation market.

Active Key Players in the Cold Insulation Market

  • Owens Corning (U.S.)
  • Huntsman Corporation (U.S.)
  • Johns Manville (U.S.)
  • Aspen Aerogels, Inc. (U.S.)
  • Cabot Corporation (U.S.)
  • Anco Products, Inc. (U.S.)
  • CertainTeed (U.S.)
  • Paroc Group Oy (Finland)
  • Armacell (Luxembourg)
  • Saint-Gobain Isover (France)
  • Kingspan Insulation (Ireland)
  • BASF SE (Germany)
  • Knauf Insulation (Germany)
  • Rockwool International A/S (Denmark)
  • Covestro AG (Germany)
  • Evonik Industries AG (Germany)
  • Thermal Ceramics (part of Morgan Advanced Materials) (UK)
  • Ravago (Luxembourg)
  • G+H Insulation GmbH (Germany)
  • L'Isolante K-Flex S.p.A. (Italy)
  • Bridgestone Industrial (Japan)
  • Furukawa Electric Co., Ltd. (Japan)
  • Jinan Shengquan Group Share Holding Co., Ltd. (China)
  • Shandong Luyang Share Co., Ltd. (China)
  • Fletcher Insulation (Australia)

Key Industry Developments in the Cold Insulation Market:

  • In May 2024, Owens Corning completed the Acquisition of Masonite International Corporation, a prominent company in the global market for interior and exterior doors and door systems. Owens Corning plans to strengthen its position in the building and construction materials market with a transaction worth around $3.9 billion. Management of Owens Corning, showed excitement about the strategic milestone, emphasizing the company's dedication to growth and innovation. This purchase is crucial for Owens Corning, allowing them to widen their range of branded construction materials and take advantage of new growth opportunities in the industry.
  • In April 2024, Huntsman Automotive Launched SHOKLESSTM, an innovative range of lightweight polyurethane foam technologies specifically developed for electric vehicle (EV) batteries. Created for potting and cell fixation, these robust foams improve EV battery modules' structural strength and safety. The selection ranges from low to high-density choices, providing versatility with standard dispensing methods and a broad range of processing opportunities. SHOKLESSTM is perfect for protecting against impacts and thermal events while providing dependable performance and easy handling for battery applications.

Global Cold Insulation Market

Base Year:

2023

Forecast Period:

2023-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 7.39 Bn.

Forecast Period 2024-32 CAGR:

8.4 %

Market Size in 2032:

USD 15.28 Bn.

Segments Covered:

By Type 

  • Polystyrene Foam
  • Fiberglass
  • Phenolic Foam
  • Polyurethane Foam
  • Other Types

By Application

  • Oil & Gas
  • HVAC
  • Refrigeration
  • Chemicals
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Frequently Asked Questions

What would be the forecast period in the Cold Insulation Market research report?

The forecast period in the Cold Insulation Market research report is 2024-2032.

Who are the key players in the Cold Insulation market?

Owens Corning (U.S.), Huntsman Corporation (U.S.), Johns Manville (U.S.), Aspen Aerogels, Inc. (U.S.), Cabot Corporation (U.S.), Anco Products, Inc. (U.S.), CertainTeed (U.S.), Paroc Group Oy (Finland), Armacell (Luxembourg), Saint-Gobain Isover (France), Kingspan Insulation (Ireland), BASF SE (Germany), Knauf Insulation (Germany), Rockwool International A/S (Denmark), Covestro AG (Germany), Evonik Industries AG (Germany), Thermal Ceramics (part of Morgan Advanced Materials) (UK), Ravago (Luxembourg), G+H Insulation GmbH (Germany), L'Isolante K-Flex S.p.A. (Italy), Bridgestone Industrial (Japan), Furukawa Electric Co., Ltd. (Japan), Jinan Shengquan Group Share Holding Co., Ltd. (China), Shandong Luyang Share Co., Ltd. (China), Fletcher Insulation (Australia), and Other Major Players.

What are the segments of the Cold Insulation market?

The Cold Insulation Market is segmented into Type and Application. By Type, the market is categorized into Polystyrene Foam, Fiberglass, Phenolic Foam, Polyurethane Foam, and Other Types. By Application, the market is categorized into Oil & Gas, HVAC, Refrigeration, Chemicals, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Cold Insulation Market?

Insulation materials are materials or combinations of materials that can be used to prevent the loss or gain of heat to save energy. These materials can be produced in different sizes and shapes, depending on the specific application. Cold insulation involves using a material or combination of materials to prevent the loss or gain of heat to save energy.

How big is the Cold Insulation Market?

Cold Insulation Market Size Was Valued at USD 7.39 Billion in 2023 and is Projected to Reach USD 15.28 Billion by 2032, Growing at a CAGR of 8.4% from 2024-2032.

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