Cold Insulation Market Overview
Cold Insulation Market is projected to be worth USD 1,22,53,208 Million by 2030, registering a CAGR of 14% during the forecast period (2021 - 2030). Insulation is a material or a blend of two or more materials that can be used to avoid heat loss or heat gain to save the valuable energy. The material is available in any size, shapes as per different applications. Insulation materials have the ability to protect the environment from green house gasses. Insulation increases the working efficiencies of the system where it is installed. Strict laws for energy preservation, environment protection, sustainable development has prompted rise in demand of insulation products. Insulation materials can serve as acoustic and also thermal protection. Thermal Insulation can be divided into two sorts as indicated by temperatures they serve: Cryogenics and Refractory. Cold Insulation Market: Applications According to applications, Oil and Gas accounted for the largest consumption (40%) of materials due to increase in LNG transportation, cryogenic insulation demand. The Chemical application i.e. the increase use of liquid forms of industrial gases, for e.g. liquid nitrogen in various applications such as surgery, manufacturing has led to rise in insulation demand The Chemical application accounted for 22% of the total demand in 2012.
Cold Insulation Market: Market Growth Influencer Significant growth in the end user market which include chemicals, refrigeration, HVAC and oil and gas are major contributors to the growth of the Cold Insulation market. Availability of skilled workforce and low cost of manufacturing is another factor which boosts the Cold insulation market.
Cold Insulation Market: Regional Analysis
Asia Pacific: Asia Pacific has show immense growth in the Cold insulation market with widespread application in the chemical, refrigeration, oil and gas and HVAC market. Low cost of setting up a manufacturing unit, relatively cheaper and skilled labor and low operating cost all have played a major role in boosting the growth rate of the Asian Cold Insulation market. Asia consists of markets such as India, China, Korea etc which support the cold insulation market with their favorable government norms and policies. China is one of the biggest markets in this region with its growth rate strong enough to sustain efficient manufacturing.
North America: North American Region is another leading region for the Cold Insulation market. In the North American region USA is the biggest market capturing around 70.1% in 2012. Already established entities like Huntsman, Rockwool, Owen Corning provide a great scope for the Cold Insulation market in this region. The Canadian market for Cold Insulation was estimated to be 62.4 thousand tons in 2012 and the US cold insulation market was estimated to be around USD 542 million. Heavy investment in R&D and technological development has led to development of new techniques and material which have minimal effect on environment which results in healthy boost in the Cold Insulation Market.
Cold Insulation Market: Market Segmentation The Global Cold Insulation Market can be segmented on the basis of:
End Use Industry:
The reports also covers brief analysis of Geographical Region includes:
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November 2021-Frank And Oak (Canada), a sustainable clothing company has introduced its latest men’s outerwear range for fall/winter 2021, which includes the sustainably developed Alpine parka. This Alpine winter coat will be available in rosin, coffee bean, and black. The latest outerwear collection has been developed using organic and recycled materials, such as animal-free PrimaLoft insulation, and 100% polyester fibres.
The Alpine parka is a combination of classic design along with function, created to lock in the heat while keeping out the cold wind, coupled with 2-layer breathable fabric, a recycled sherpa-lined hood, as well as ribbed storm cuffs. Its estimated warmth rating is around -25° C to -10° C.
December 2021- LifeLabs (California) introduces the warmest jacket in the world, claims the company. With a 9.25 CLO score, this MegaWarm jacket can deliver close to 38% higher warmth level compared to a Canada Goose Snow Mantra (6.7 CLO), 17% higher warmth level than the Arc’teryx Leaf Cold WX Parka SVX (7.91 CLO) and around 53% higher warmth compared to the North Face Summit AMK L6 Parka (6.06 CLO).
The jacket has been powered by the company’s WarmLife technology, which is an advanced textile reflecting a human’s complete radiant heat right back to the body. With the use of aluminium’s nano-layer, this jacket is able to attain maximum CLO rating across the globe, while its minimalist design helps develop a more packable, more sustainable, and lighter jacket.
October 2021 : Eco Depot Inc., a consumer goods company in Nevada, announces that its subsidiary Bronya Canada Group has been granted the required R-Value for its Bronya Climate Shield Façade product range.
The R-value indicates the rate at which the insulation type can keep the heat from either entering or leaving the house. The insulation R-values differ depending on the type, density and thickness of the cold insulation material. Generally, a better insulation R rating would mean higher climate control and energy efficiency for the house. The received R 20-Value will now help the brand to commercialize its Bronya Climate Shield product range in the cold insulation market. The wide range of Bronya Climate Shield products help foster energy savings, energy efficiency, and bring down carbon emissions via energy conservation.
|Market Size||2030: Significant value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Material, By end use industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bayer Material Science, Huntsman Corporation (U.S.), Evonik, BASF SE, Armacell International Holding Gmbh, The DOW Chemical Company, Owens Corning, Aspen aerogels, Dongsung Finetec Corp, Dow Chemicals, Certain Teed, Kingspan Groups PLC|
|Key Market Opportunities||Availability of skilled workforce and low cost of manufacturing|
|Key Market Drivers||
The market would be dominated by the oil & gas segment.
Factors like environment protection, strict laws for energy preservation, sustainable development in the demand for insulation products can trigger market growth.
China would dominate the cold insulation market.
The US would cover 70% of the total regional market.
Oil & gas, chemicals, HVAC, refrigeration, and others can bolster market growth.