Refrigeration Insulation Materials Market Insights and Industry Analysis by Material Type (PU & PIR, Elastomeric Foam, Polystyrene Foam, Fiberglass, Phenolic Foam, Others), By Application (Commercial, Industrial, Cryogenic, Refrigerated Transport) and By End-Use (Food & Beverage, Chemicals & Petrochemicals, Pharmaceutical, Healthcare, Others), Competitive Market Size, Share, Trends, and Forecast to 2027
New York, US, June 18, 2021 (GLOBE NEWSWIRE) -- Refrigeration Insulation Materials Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Refrigeration Insulation Materials Market - Information by Material Type, Application, End-Use, and Region - Forecast till 2027” the market is anticipated to cross around USD 5 Billion by 2027 at a substantial CAGR of 5% during the Forecast period.
The rising demand for food and growing concerns regarding food security are observed to boost sales of refrigeration systems. The increase in food consumption on a global scale due to population expansion and the availability of seamless supply chain facilities encouraging intraregional trade, along with above mentioned causes can underpin the refrigeration insulation market in the study tenure. Price fluctuations of raw material and stringent regulations on the procurement and fabrication of insulation materials can hinder the refrigeration insulation market in the study period.
Key Players Locking Horns:
Affluent vendors in the Global Refrigeration Insulation Materials Market are:
Owens Corning (US)
Johns Manville (US)
Morgan Advanced Materials (UK)
L'ISOLANTE K-FLEX S.p.A. (Italy)
NMC SA (Luxembourg)
Cabot Corporation (US)
Saint Gobain (France)
Lydall, Inc. (US)
BASF SE (Germany)
Aspen Aerogels, Inc. (US)
Kingspan Group (Ireland)
Zotefoams plc (UK)
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The segment analysis of the refrigeration insulation market is done by material type, end-use industry, and application.
Elastomeric Foam Segment to Gain Traction
The material type-based segments of the refrigeration insulation market are PU & PIR, Polystyrene Foam, Elastomeric Foam, Fiberglass, and Phenolic Foam among others. Other comprises of cellulose, aerogel, and mineral wool.
The growing utility of elastomeric foam insulation due to their long-term durability and protection in applications, such as; ductwork, insulating chilled water, and plumbing can prompt the segment upsurge.
Rise in Industrial Applications to Augment Market Rise
The application-based segments of the refrigeration insulation materials market are industrial, cryogenic, commercial, and refrigerated transport.
Industrial applications of refrigeration insulation material across large-scale places, such as; cold food storage, beverage production, dairy processing, heavy industry, and ice rinks among others.
Browse In-depth Market Research Report (100 Pages) on Refrigeration Insulation Materials: https://www.marketresearchfuture.com/reports/refrigeration-insulation-materials-market-9699
North America Market to Lead
In North America, the refrigeration insulation materials market is expected to witness significant surge in analysis period that can be attributed to the increasing demand for processed foods such among the growing working population.
Europe Market to Hold High Value
Europe refrigeration insulation materials market can hold high value by end of the study tenure. The presence of robust industrial infrastructure in food processing, chemical, and petrochemical can drive the demand for refrigeration insulation materials in the region, thus can benefit the EU market.
Asia Pacific Market to Surge at High Pace
Asia Pacific refrigeration insulation market is expected to be the fastest-growing market across the globe. Industrialization across India, Malaysia, South Korea, and Thailand can lay strong foundation for the APAC market to rise.
Middle East and Africa Market to Rise Steadily
Economic development and population expansion in the MEA region are identified as key factors resulting in the growing demand for various refrigeration insulation solutions among end-users. This can prompt the MEA refrigeration insulation market. The increasing sales of refrigeration insulation materials across the review period can favor the regional market in the analysis period.
Commercial Applications to Drive Latin America Market
The expansion of the refrigeration insulation market in Latin America can be attributed to the growing number of commercial applications of the product. The expansion of the food and beverage industry across, countries such as; Mexico and Brazil, can bolster expansion of the regional market. In addition, the increase in sales of ready-to-eat beverages, and frozen foods can propel the demand for commercial refrigeration insulation solutions, thus can benefit Latin America market.
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