(PRWEB) July 29, 2013
The report ‘‘Cold Insulation Market – By Types (Fiber Glass, Polyurethane Foam, Polystyrene Foam, Phenolic Foam, and others) & Applications (HVAC, Refrigeration, Oil & Gas, Chemicals, and others) - Global Trends & Forecasts to 2018’’ defines and segments the global cold insulation market with analysis and forecasting of the global revenue. Cold insulation market will grow to $4.8 billion by 2018, with a high CAGR from 2013 to 2018.
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Cold insulation market is mainly driven by growing demand for natural and industrial gases. The increased infrastructure requirements, demand for better working conditions are the primary reasons, cold insulation materials are experiencing huge surge in demand from existing and emerging applications. North America, due to its huge appetite for advanced cold insulating materials that offer better process control and enhance the efficiency of operations, is the major growth engine for this market.
The enormous potential of this market is attracting various small and big level industry players. The cold insulation market is experiencing a boom especially in China due to heavy spending on infrastructure and the flourishing manufacturing industry. In countries like Nigeria, Kenya, and South Africa, laws for energy efficiency are coming into existence, which would increase the demand for cold insulation materials in Rest of the World. On account of growing demand for efficient and environment friendly materials that cause minimal damage to the surrounding, the market will experience an escalation in the demand of cold insulation materials in the years to come. Moreover, the demand in cryogenic gases, chemicals for various applications bring the need for cryogenic insulation for the coming years.
The cold insulation industry players are constantly trying to modify their product line with highly customized and advanced sustainable product lines to remain competitive in the markets. Some of the large players identified in the market are BASF (Germany), Evonik (Germany), Owens Corning (U.S.), Johns Manville (U.S.), etc.
The report forecasts revenue of the global cold insulation market and its various submarkets with respect to four main regions viz. North America, Europe, Asia-Pacific, and Rest of the World, which includes Middle East, Africa, and Russia. The countries such as U.S., China, Canada, and Germany were also analyzed.
The report segments the global cold insulation market by major applications namely Oil and Gas, Chemicals, HVAC, Refrigeration, and others. In addition, various types of materials such as polyurethane/Polyisocyanurate foam, Fiber glass, Phenolic foam, Polystyrene foam (EPS & XPS), and others are analyzed. It also focuses on market metrics such as drivers, restraints, opportunities, and winning imperatives.
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