Deerfield Beach, FL, July 21, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “ Cold Insulation Market by Material (Fiber Glass, Polyurethane Foam, Phenolic Foam, Polystyrene Foam and Others) for HVAC, Chemicals, Refrigeration, Oil & Gas, and Other Applications: Global Industry Perspective, Comprehensive and Forecast, 2015 – 2021.” According to the report, global demand for cold insulation was valued at USD 3.50 billion in 2015, and is expected to reach USD 5.40 billion in 2021, growing at a CAGR of 7.5% between 2016 and 2021.
Cold insulation is a material that acts as barriers to the heat energy and vapours present in a substance or products. It is primarily used in piping systems for various end-applications. It holds back the passage of moisture vapour from the atmosphere to the insulated surface. The cold insulation is primarily utilized in mechanical services for assorted in temperature from cryogenic to refractory to lessen the emissions of pollutants to the atmosphere.
Browse the full “ Cold Insulation Market by Material (Fiber Glass, Polyurethane Foam, Phenolic Foam, Polystyrene Foam and Others) for HVAC, Chemicals, Refrigeration, Oil & Gas, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021 ” report at http://www.marketresearchstore.com/report/col...ket-z66355
The major driving factors of global cold insulation market are the continuously growing construction sector across the globe. Growing concern towards green energy and environmental issues such as increasing level of toxic gas level is likely to accelerate the growth of the market in coming years. However, raw materials price volatility is a major limitation for the growth of the cold insulation market. Nonetheless, cryogenic equipments are required for the transportation of LNG especially in Asia Pacific region can offer new doors to major player operative in cold insulation market within the forecast period.
Among described material, the polyurethane foam is one of the foremost application segments for global cold insulation market in 2015. It accounted over 25% shares of the overall revenue generated. The polyurethane foam is a flexible insulation materials used for various end-uses. This attribute is expected to propel the demand of cold insulation over the few years. Additionally, fiber glass and phenolic foam are expected to have lucrative demand in coming years.
Browse 29 Market Tables and 38 Figures spread through 110 Pages and an in-depth TOC on "Cold Insulation Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Among described material, the polyurethane foam is one of the foremost application segments for global cold insulation market in 2015. It accounted over 25% shares of the overall revenue generated. The polyurethane foam is a flexible insulation materials used for various end-uses. This attribute is expected to propel the demand of cold insulation over the few years. Additionally, fiber glass and phenolic foam are expected to have lucrative demand in coming years.
With a significant share, North America was the second largest regional market for cold insulation market in 2015. U.S. was the major revenue contributor in the region. Stringent regulation imposed by government for controlling the environment issues is a driving factor that is likely to boost the demand for cold insulation market in the region within the forecast period.
Europe lead the market of cold insulation in 2015 and further it is also predicted to remain the dominance over the market. The growth in the region is attributed to the development in cryogenic equipment, presence of numerous cold insulation manufacturing companies in UK and Germany. In addition to this, the climatic condition results to the intense need for cold chain market in the region is a prime factor that is expected to exhibit the remarkable growth in cold insulation market in near future.
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Asia Pacific region is expected to experience the lucrative growth in coming five years for cold insulation market. With the multiple parameters such as rapidly expanding industrial sectors, rising awareness towards hazardous and cause severe health problems and emerging markets for bio-based cold insulation products is expected to witness exponential growth in cold insulation market. Additionally, growing trend in changing lifestyles coupled with rapid industrialization, economic development especially in emerging markets such as Australia, China, Japan, India, New Zealand, and South Korea. Moreover, Asia Pacific is a major importer of oil and gas which is a prime factor that is projected to flourish the growth of cold insulation market in near future.
Latin America and Middle East & Africa regional market augmented to have steady growth during years to come. The Middle Eastern region is abundantly endowed with oil and gas resources and in turn there is a surge in the transportation sector in the region. This is expected to drive the demand for cold insulation market in this region.
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Some of the key players in the global cold insulation market include BASF SE, Bayer MaterialScience AG, The Dow Chemical Company, Evonik Industries AG, Armacell International Holding GmbH, Owens Corning and Pittsburgh Corning Corporation.
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