NEW YORK, Nov. 12, 2015 /PRNewswire/ -- The cold insulation market size is projected to reach USD 5.7 billion by 2020.
Cold insulation materials help in the prevention of heat loss or heat gain to conserve energy. These materials have the ability to save environment from harmful effects of greenhouse gases. They are also used to reduce energy leakages from infrastructure to improve energy efficiency. Cold insulation materials are used for temperatures from 15°C to –275°C.
Europe is the leading region for cold insulation market during the forecast period, owing to the climatic conditions of most of the European countries. Strict laws by government on sustainable materials, energy savings guidelines, and greenhouse gas emissions guidelines are also the key factors leading to the growth of cold insulation market in the region. Rapid growth of end-use industries, such as chemicals, oil & gas, HVAC, and refrigeration in the region paves the cold insulation to a far extent.
Oil & gas is the largest end-use industry during the forecast period, followed by refrigeration and chemical segment. Cold insulation materials are used for insulation of storage tanks, where LNG is stored and in the liquefaction plant, where conversion of natural gas into liquid state is undertaken. Liquefaction plants are used to convert natural gas to a liquid state at which it can be transported and converted back to the gas state to be used for various industrial, commercial, and residential applications.
Refrigeration is the second-largest end-use industry of cold insulation market. Refrigeration systems are generally operated at temperatures ranging from 20°F to -50°F, depending upon the refrigerant. With proper insulation of refrigeration systems, energy costs can be reduced by around 50% or more. Cryogenic refrigeration has been witnessed to be a very successful method for refrigerating transport products.
This study aims to estimate the market of cold insulation in 2015 in terms of volume and value and project its demand by 2020. This market research study provides a detailed qualitative and quantitative analysis of the cold insulation market. It provides a comprehensive review of key drivers, restraints, opportunities, and challenges in the market. The market is segmented and projected by region into Asia-Pacific, North America, Europe, and RoW, which are further segmented by key countries in each region.
We have used different secondary sources, such as company websites, encyclopedia, directories, and databases to identify and collect information that are useful for this extensive commercial study of the cold insulation market. The primary sources, which include experts from related industries, have been interviewed to verify and collect critical information as well as to assess the future prospects of the market.
The leading players of the market include BASF SE (Germany), Armacell International Holding Gmbh (Germany), The DOW Chemical Company (U.S.), Owens Corning (U.S.) Bayer MaterialScience (Germany), and Huntsman Corporation (U.S.). New product launch is the key strategy adopted by industry players in order to maintain growth in the cold insulation market. The cold insulation market is an end-user market and strategies, such as expansions, and acquisitions are paving the way for fulfilling the ever changing demand of the end-users.
Reasons to Buy the Report:
- To understand the global, regional, and national scenarios.
- To understand the market trends and dynamics along with key factors affecting
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for cold insulation materials
- To track the recent developments in cold insulation market
- To understand the competitive background of the industry, and positioning of the key players in the cold insulation market
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