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

Market Definition

The Asia-Pacific Cold Insulation Market size was valued at USD 2.41 Billion in 2019 and is predicted to reach USD 4.67 Billion by 2030 with a CAGR of 6.2% from 2020-2030.

Cold insulation reduces potential damage to equipment from corrosion or fire exposure and increase the operating efficiency of industrial systems such as cooling/heating, ventilating, plumbing, power and process. It is prepared by combining two or more materials in order to prevent heat loss or gain and thereby save the valuable energy. Cold insulation is generally used in environment, where the temperature needs to be maintained lower than the ambient temperature.

For example, equipment working under very low temperatures are covered with high quality insulating materials. These materials are widely used in end-user industries such as automobile, construction and electronics. 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.

Market Dynamics and Trends:

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.

Moreover, factors such as increasing concerns toward greenhouse gas emissions and expanding industries such as food and healthcare among others in Asia-Pacific region is expected to boost the cold insulation market growth. Furthermore, due to the economic development and changing lifestyle, the level of consumption as well production has substantially increased in Asia-Pacific region, which is also contributing to the growth of cold insulation material market in the region.

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.

Market Segmentations and Scope of the Study:

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.

Competitive Landscape:

The Asia-Pacific cold insulation market is highly competitive and comprises of numerous market players. Some of the major market players 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. There have been various developments taking place in the market that further enhance the Asia-Pacific cold insulation market growth at a large scale.

KEY BENEFITS:

• The Asia-Pacific cold insulation market report provides quantitative market analysis and estimations through 2020-2030 that assists to determine the predominant market opportunities to exploit.

• The study comprises a deep drive analysis of Asia-Pacific cold insulation market trends including current and upcoming trends for interpreting the prevalent investment pockets in the market.

• The report gives intricate information related to key drivers, restraints, opportunities and their impact on Asia-Pacific cold insulation market.

• The report consolidates a competitive analysis of the market players along with their market share in Asia-Pacific cold insulation market.

• The study elaborates SWOT analysis and Porters Five Force model for the Asia-Pacific cold insulation market.

• Value chain analysis in the market study provides a clear picture of the investor’s roles in the Asia-Pacific cold insulation market.

KEY MARKET SEGMENTS:

By Type

• Fiber Glass

• Polyurethane Foam

• Polystyrene Foam

• Phenolic Foam

• Polyethylene Foam

• Rubber

• Others

By Application

• HVAC

• Chemicals

• Oil & Gas

• Refrigeration

• Others

By Country

• China

• Japan

• India

• Australia

• South Korea

• Indonesia

• Malaysia

• Singapore

• Vietnam

• Thailand

• Philippines

• Myanmar

• Rest of APAC

REPORT SCOPE AND SEGMENTATION: