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Insulation is a combination of materials used to conserve energy by preventing heat flow. An insulation should be able to reduce or prevent damage to equipment from corrosion or from fire exposure and increase the operating efficiency of industrial installation systems such as cooling/heating, ventilating, plumbing, power and process. The insulation with a temperature range between -750C to 8150C are termed as thermal insulations and temperatures below -7500C are cryogenic and temperatures above 8150C are refractory. A high quality insulation is applied for equipment working under very low temperatures. Cold insulation is generally applied where the environmental temperature is below the ambient temperature. Properties such as thermal conductivity, alkalinity (pH) or acidity, abrasion resistance, chemical reactivity/passivity, compressive strength & breaking load, combustibility, and coefficient of expansion /contraction should be considered while selecting materials for insulation, depending on the type of application. An insulation, if properly chosen such that it is maintenance-free and non-complaining, is likely to look after the smooth operation, safety and economy of the equipment insulated.

The market for cold insulation can be segmented into type of material, end-user applicants, and region. In terms of type of material used, the cold insulation market can be segmented into fiber glass, Polyisocyanurate, polyurethane foam, nitrile rubber, phenolic foam, ceramic fiber, polystyrene foam (EPS & XPS), and others. Polyurethane and Polyisocyanurate have assumed significant importance due to the numerous superior qualities they possess. These materials can be installed in-situ-by pouring or by spray and applied in preformed shapes. The materials can be available in any form, size, and shape depending on the application.

In terms of end-user application, the cold insulation market can be segmented into chemical, HVAC, oil and gas, refrigeration, and others. Process operations in low temperatures, reduction in energy losses, safety regulations, and environmental impacts are anticipated to drive the end-user application market. Moisture vapor transmission (MVT) factor is critical for hot humid climatic conditions for designing LNG Plants, where an insulation should be applied. This design factor is likely to propel the cold insulation market in the LNG sector. The increase in the application of insulation in food and chemical storage and cryogenic medical applications is estimated to fuel the cold insulation market in the near future.

In terms of geography, the cold insulation market can be segmented into Asia Pacific, Europe, North America, Middle East and Latin America. Industrial growth, and new projects in the oil & gas industry are projected to boost the India market. Regulation in carbon emissions, strict environmental laws, and the rise in energy prices is anticipated to drive the markets in developed regions such as North America and Europe. Increase in exports of LNG and economic growth is estimated to propel the Middle East Market.

Key players operating in the cold insulation market include Bayer, BASF SE, Aspen Aerogels Inc., Huntsman Corporation, Dow, Armacell, Evonik Industries, Bradford Insulation Industries Ltd., Fletcher Insulation Group, Knauf Insulation, Kingspan Group PLC, Uralita S.A, Arabian Fiber Glass Insulation Company Ltd., Johns Manville, Pittsburgh Corning Corporation, Thermax, and ROXUL ROCKWOOL,. Dow with its research on polyurethane provides tailor-made solutions and innovative technical service to help customers stays ahead of the game in the challenging and ever-evolving polyurethane industry. BASF, a leading supplier of cold insulation materials, is diversifying its region of operations. Aggressive market strategies are adopted by big players in the cold insulation market to increase their market share. However, the raw materials used in cold insulation are mostly volatile, which indirectly affects the cold insulation market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cold Insulation Market

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