Cold Insulation Market | CAGR of 5.2% to be Observed from 2017 to 2027- Asserts MRFR

Cold Insulation Testing Market Research Report by Material (Phenolic Foam, Fiber Glass, Polystyrene Foam, Polyurethane Foam, Other) By end use industry (Oil and Gas, Chemicals, HVAC, Refrigeration, Others)- Forecast to 2027

Market Research Future published a Half Cooked Research Report on “Global  Cold insulation Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Akzo Nobel Eka (Netherlands), Neutron Industries (U.S.), Aditya Birla Chemicals (India), Hansol Chemicals (Korea), Kemira Oyj (Europe), State Industrial Products Corporation (U.S.), Hercules and Hercules Inc. (U.S.), 3M Company (U.S.), Arrow-Magnolia International, Inc. (U.S.), and Ecolab G.K. (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Cold insulation Market.

Cold Insulation Market – Overview

The Global Cold insulation Market is increasing with the rapid growth; mainly due to the flourishing oil & gas industry. According to a recent study report published by the Market Research Future, The global market of Cold insulation is increasing and expected to witness influence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2027). 

Globally, the market for Cold insulation is driven by the region Asia pacific, owing to the rise in the demand for storing and transporting petroleum end products via pipelines, road, and water. Petroleum end products such as LNG, ethylene, CO2 and other cryogenic media resulting in to increasing demand for cold insulation materials.  Cold insulation materials are extensively used in the air conditioning applications (HVAC) to maintain cooling and humidity control in residential and non-residential properties, and public transport. Cold insulation materials possess low thermal conductivity, high levels of shear and compression strength, low density and light weight, and strong adhering properties. These materials helps to conserve mass, energy and cost economize various industrial processes.

In the present scenario and also in the coming years, efficient transportation of petroleum end products and other cryogenic products to maximize the possible reach over the globe is driving the cold insulation market. Moreover growing industries such as Chemicals, and HVAC provide momentum to the Cold insulation Market growth.

On the other hand, the negative impact of HVAC industry leaving CFCs, HCFCs and other related fluorocarbons into the environment, is expected to hamper the growth of HVAC industry which is in turn expected to influence cold insulation market.

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Cold insulation materials such as polyurethane, phenolic and polystyrene foams are costlier but they are capable to deliver high performance for long run purposes. These high value added products widely used to insulate industrial pipelines, tank stands in oil & gas, and LNG containers. Cold insulation are used in end use industries such as HVAC, oil & gas, refrigeration, and chemicals.

Polyurethane foam is most widely used cold insulation material and followed by polystyrene foams. Polyurethane foam can be utilized for multiple insulation purposes such as heat and cold. 

Cold insulation Market – Competitive Analysis

The Cold Insulation Market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the Cold insulation Market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for cold insulation materials in oil & gas and HVAC industries will influence the end user products from these industries. Cold insulation market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.

Industry/ Innovation/ Related News:

January 2017 – BASF SE (Germany), one of the key manufacturers of Cold insulation also having presence in Antwerp, Belgium. They announced to increase the production capacity of diphenyl diisocyanate of MDI grade which is a basic raw material for manufacturing polyurethane foam (cold insulation material) from 0.56 Mt/yr to 0.65 Mt/yr at its Verbund plant. This is anticipated to benefit nearby petrochemical industries in the Belgium by delivering LNG, ethylene and other cryogenic products effectively. This will also benefit the chemicals industries conserving energy input to produce various chemicals products.

March 2017 – The Dow Chemical Company (U.S.) a global manufacturer of polyurethane foams, is planning to increase its polyurethane foam manufacturing capacity to 50% at Ratnagiri, Maharashtra. Company is intended to be the major polyurethane foam manufacturer in market pie. In addition, Dow is investing in its new technology centre in Mumbai to increase the innovation and provide better customer service in the India. By increasing its production will increase resources and benefits the nearby major petrochemical industries are present in and around Mumbai-Ahmedabad belt.

July 2017 – Huntsman (U.S.), Texas based polyurethane manufacturer has merged with Clariant (Switzerland) is a speciality chemicals manufacturer. They both intended to deliver better quality polyurethane foam products by exchanging innovation and technology to the global customers.

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