Report Ocean recently released a research report on the Refrigeration Insulation Materials Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global refrigeration insulation materials market size was US$ 4 billion in 2021. The global refrigeration insulation material market is forecast to grow to US$ 7.1 billion by 2030, registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
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Refrigeration insulation systems decline heat movement in cooled rooms, including cars, refrigerated pipes, warehouses, and HVAC systems. In addition, refrigeration insulating materials extend the life of cooling systems. It enhances the performance of the device by preventing system degradation.
Factors Influencing the Market Growth
The rising trade of commercial and industrial refrigerators is the primary factor driving the growth of the global refrigeration insulation materials market. In addition, the rising demand for cryogenic insulation is forecast to benefit the market during the study period.
Furthermore, the trending use of cold beverages, including energy drinks, beer, and cold drinks, and the increasing need for food safety are forecast to fuel the demand for refrigeration. As a result, the global refrigeration insulation materials market will grow rapidly.
Rising urbanization and growing demand for packed food products are forecast to benefit the market during the study period.
Commercial refrigeration is predicted to register significant growth during the study period. The commercial category will rise due to the rising demand for commercial refrigerators, retail groceries, refrigerated vending machines, and chillers. Thus, the market for refrigeration insulation materials will witness significant growth opportunities in commercial applications.
Regional Analysis
Refrigeration insulation materials demand is growing rapidly in Europe. Thus, Europe will hold the largest market share during the study period, owing to the growing emphasis on low ODP and GWP materials and the rising demand for energy conservation. Moreover, the growing demand for packed products and beverages is another key factor driving the growth of the region. Furthermore, high disposable income, increasing emphasis on advanced technologies is contributing to the growth of the regional market.
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COVID-19 Impact Analysis
The demand for luxury items, such as refrigerators, declined drastically during the pandemic. People avoided cold drinks in order to boost their immunity during this health emergency. As a result, the global refrigeration insulation materials market witnessed various challenges, which declined the market growth.
During the pandemic, the supply chain was highly disrupted. Players had to witness several obstacles in order to survive in the market. Moreover, the shutdown of manufacturing activities further hampered market growth.
Competitors in the Market
- Armacell International S.A.
- Aspen Aerogels
- Morgan Advanced Materials
- Johns Manville
- Zotefoams
- NMC SA
- Cabot Corporation
- Lydall Inc.
- Other Prominent Players
Market Segmentation
The global refrigeration insulation materials market segmentation focuses on Type, Application, End-Use, and Region.
On the basis of type
- Elastomeric foam (NBR & EPDM)
- PU & PIR
- Polystyrene Foam (XPS & EPS)
- Fiberglass
- Phenolic Foam
- Others (Aerogel, Cellular Glass, Perlite, Plastic Foams, and others)
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On the basis of application
- Commercial
- Industrial
- Cryogenic
- Refrigerated Transportation
On the basis of end-use industry
- Food –& Beverage
- Chemicals & Pharmaceuticals
- Oil & Gas and Petrochemicals
- Others (Energy & Utilities, Healthcare, Semiconductor, and Textile)
On the basis of Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
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- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Refrigeration Insulation Materials Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Refrigeration Insulation Materials market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Refrigeration Insulation Materials Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Refrigeration Insulation Materials market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Refrigeration Insulation Materials market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Refrigeration Insulation Materials market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Refrigeration Insulation Materials market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Refrigeration Insulation Materials business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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