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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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.
- BASF SE
- Bayer Material Science
- The Dow Chemical Company
- Evonik Industries
- Dongsung Finetec Corporation
- Fletcher Insulation Grou
- Huntsman Corporation.
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.
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- North America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- South Korea
- Rest of Asia
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