Asia-Pacific Cold Insulation Market to Grow at 6.2% CAGR by 2030
Increasing concerns toward greenhouse gas emissions and expanding industries such as food and healthcare among others in Asia-Pacific are key driving factors of the market.
Asia-Pacific Cold Insulation Market is expected to grow at a CAGR of 6.2% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Cold insulation is generally used in environment, where the temperature needs to be maintained lower than the ambient temperature. Cold insulation is the most cost-effective way to fight climate change as it has the ability to protect the environment from harmful greenhouse gases. It is used within temperatures ranging from -275°C to 15°C. Cold insulation market has been witnessing significant growth owing to factors such as rapid pace of industrialization in emerging economies, followed by rising demand of cooling equipment. Also, there has been a substantial increase in the demand for cryogenic insulation in oil & gas industry in the recent years. However, high-cost of insulating materials and potential health hazards due to the handling of cold insulation materials are some of the factors hindering the market growth. On the other hand, development of eco-friendly products may create lucrative opportunities for the cold insulation market players in the future.
The Asia-Pacific cold insulation market share has been segmented on the basis of type, application and country. Based on type, the market is segmented into fiber glass, polyurethane foam, polystyrene foam, phenolic foam, polyethylene foam, rubber and others. Based on application, the market is segmented into HVAC, chemicals, oil & gas, refrigeration, and others. Geographic breakdown and analysis of each of the previously mentioned segments include China, Japan, India, Australia, South Korea, Indonesia, Malaysia, Singapore, Vietnam, Thailand, Philippines, Myanmar, and rest of Asia-Pacific.
Browse key industry insights from the report, “Asia-Pacific Cold Insulation Market by Type (Fiber Glass, Polyurethane Foam, Polystyrene Foam, Phenolic Foam, Polyethylene Foam, Rubber and Others) and Application (HVAC, Chemicals, Oil & Gas, Refrigeration, and Others) - Opportunity Analysis and Industry Forecast, 2020-2030.”
According to the report, some of the key players in the market are Kingspan Group PLC, BASF SE, Huntsman Corporation, ILLINOIS Tool Works (ITW Insulations Systems), Rockwool International A/S, Covestro AG, Dowdupont, INC., Dongsung Finetec, Armacell International S.A., Nichias Corporation. and many more.
Key Insights from the Asia-Pacific Cold Insulation Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the Asia-Pacific Cold Insulation market report.
- The forecast of the Asia-Pacific Cold Insulation market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report Asia-Pacific Cold Insulation market – is segmented by type, application and country.
About Next Move Strategy Consulting
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