Global Refrigeration Insulation Materials Market: Industry Analysis and Forecast (2020-2026)

Global Refrigeration Insulation Materials Market size was valued at US$ 3.5 Bn in 2019 and the total revenue is expected to grow at 6.0 % through 2020 to 2026, reaching nearly US$ 4.9 Bn.

Global Refrigeration Insulation Materials Market

The global Inorganic Corrosion market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Inorganic Corrosion report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Refrigeration Insulation Materials Market Overview:

Refrigeration insulation materials play an important role in efficient cooling operations. Increasing demand for commercial and industrial refrigerators are the major factors that propel the refrigeration insulation materials market size.
Global Refrigeration Insulation Materials Market Dynamics:

Rising demand from food & Beverage Industry

Rising trades of refrigeration equipment and growing demand for applications of cryogenic and the rising demand for food with growing emphasis on food security, and the growth in consumption of cold beverages & beer. These are the major factors that drive the global refrigeration insulation materials market.
Volatile Raw Material Prices

Volatile raw material prices and stringent government regulations on insulation materials, these factors act as major restraints for the refrigeration insulation materials market growth.
Global Refrigeration Insulation Materials Market Segment Analysis:

By Material Type, the technical foam market is bifurcated into Elastomeric Foam, PU & PIR. PU & PIR held the largest share of the refrigeration insulation materials market in 2019. PU & PIR is the maximum produced insulation type in the market. Its operational temperature range allows it to use in a wide range of applications. PU & PIR also used in cryogenic applications.

These foams are suitable for all types of equipment, includes tanks, walls & roofs, pipes, compressors, and are even performed for joints and bents. PU & PIR are expected to remain the largest insulation material type during the forecast period.

By End-Use Industry, the market is bifurcated into Food & Beverage, Chemicals & Pharmaceuticals, Oil & Gas and Petrochemicals. The food & beverage industry accounts for the highest share around 46% of the refrigeration insulation materials market in 2019 thanks to increasing demand for food & beverage due to the growing population. Food processing and preservation are likely to propel the demand for refrigeration. Hence, the refrigeration insulation materials market is expected to grow in the food & beverage industry.

Global Refrigeration Insulation Materials Market

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By Application, the market is bifurcated into Commercial and Industrial.

Global Refrigeration Insulation Materials Market 1
Recent Developments

In August 2018, Armacell launched the aerogel blanket ArmaGel HT. It is lightweight, easy-to-handle, and suitable for a wide range of applications. This innovation helped the company provide customers with products having higher performance.

In 2019, KFLEX opened a new production site in Vietnam to support the growing demand from the Asian market.

In March 2018, Kingspan invested in the manufacturing facility of Kooltherm, a phenolic insulation material, in Sweden. The strategic location of the plant is beneficial for the future growth of the firm.
Global Refrigeration Insulation Materials Market Regional Insights:

Europe is expected to dominate the Refrigeration Insulation Materials Market

Europe is expected to dominate the largest share of the global refrigeration insulation materials market during the forecast period, in terms of value. The presence of major players in the region, including Armacell, Isover, Kflex, and Kingspan, with the growing emphasis on energy conservation and the use of low GWP and ODP materials. These are the major factors fueling the global refrigeration insulation materials market growth during the forecast period.

Global Refrigeration Insulation Materials Market 2

The objective of the report is to present a comprehensive analysis of the global Inorganic Corrosion market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

Porter, svor, pestel analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Inorganic Corrosion market dynamics, structure by analyzing the market segments and project the global Inorganic Corrosion market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Inorganic Corrosion market make the report investor’s guide.
Global Refrigeration Insulation Materials Market Scope:
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Global Refrigeration Insulation Materials Market 3
Global Refrigeration Insulation Materials Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Refrigeration Insulation Materials Market Key Players

• Armacell (Luxembourg)
• Owens Corning (US)
• Kingspan Group (Ireland)
• L’ISOLANTE K-FLEX S.p.A. (Italy)
• Saint Gobain (France)
• Cabot Corporation (US)
• Aspen Aerogels, Inc. (US)
• BASF SE (Germany)
• Morgan Advanced Materials (UK)
• Johns Manville (US)
• NMC SA (Luxembourg)
• Zotefoams plc (UK)
• Lydall, Inc. (US)
• Others

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