Qualitative Insights on Expansion of Low Temperature Insulation Materials Market for 2018 – 2028 Period

Insulation is the term used to describe the product that minimizes/retards heat loss. Low temperature insulation materials are used to prevent heat gain to the process where operating temperature is below the ambient temperature. Vapor barrier is one of key characteristic for a low temperature insulation materials. Low temperature insulation materials consist of a wide range of materials such as polystyrene, polyurethane, phenolic foam, cellular glass and polyisocyanurate among others. Over the past couple of years, novel materials have been developed in the low temperature insulation materials market, with higher thermal efficiency and low density such as aerogel insulation. However, the only challenge restraining the growth such materials is high cost of materials compared to its counterparts available in the low temperature insulation materials market. Low temperature insulation materials are commercially available in three form namely, rolls & batts, spray and rigid foam/ board. Low temperature insulation materials is used for wide range of applications such as, refrigeration, HVAC systems, chemical industry, oil & gas and others. HVAC systems and refrigeration are expected to be the be the key application for low temperature insulation materials.

Low Temperature Insulation Materials Market: Dynamics

Low temperature insulation materials is expected to witness significant growth over the coming years. The growth of low temperature insulation materials market is primarily driven by rapid industrial growth. Further, growing urbanization and economic growth have led to the incremental construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities which is expected to drive the demand for HVAC installations which is turn is expected to propel the demand for low temperature insulation materials market over the forecast period. Further, increasing environmental awareness coupled with stringent environmental regulation is expected to drive the low temperature insulation materials market in developing regions. Moreover, increasing demand for cryogenic gases such as, oxygen, hydrogen, nitrogen and others coupled with increasing utilization of LPG and LNG in both developed and developing countries is expected to boost the growth of low temperature insulation materials market.

Emphasis has been given towards research & development of innovative products such with reduced environmental impacts and high thermal insulation efficiency. Development of materials such as aerogel is expected is expected to provide immense opportunities for the players in low temperature insulation materials market.

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Low Temperature Insulation Materials Market: Segmentation

On the basis of material type, global low temperature insulation materials market can be segmented as:

Wool Mineral
Polyisocyanurate
Polyurethane
Polystyrene
Phenolic foam
Elastomeric foam
Cellular Glass
Others
On the basis of product form, global low temperature insulation materials market can be segmented as:

Rolls & Batts
Spray
Rigid Foam/ Board
On the basis of end use, global low temperature insulation materials market can be segmented as:

General Manufacturing
Automotive
Defense and Aerospace
Electronic & Electrical
Ship Building
Others
Low Temperature Insulation Materials Market: Regional Outlook

North America and Europe are expected to be a prominent region for low temperature insulation materials market. Over the past few years, North America has witnessed recovery in construction industry, further, oil & gas industry in the region is also gaining traction which in turn is expected to drive the demand of low temperature insulation materials in the market. European low temperature insulation materials market is also expected witness significant growth driven by increasing government regulations and increasing concerns over improved energy efficiency in buildings and rising energy prices. Asia Pacific is estimated to be a promising region in the global low temperature insulation materials market, and expected to witness significant growth over the years to come primarily owing to high economic growth coupled with rapid industrialization. Further, increasing investment in Asia Pacific for industrial growth in countries such as, India & China Is expected to propel the demand for low temperature insulation materials in the years to come. Growing construction and oil & gas in Middle East & Africa is expected to drive the growth of low temperature insulation materials market in next few years.

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Low Temperature Insulation Materials Market: Market Participants

Examples of some of the prominent market participants operating in the global low temperature insulation materials market includes:

BASF SE
Huntsman Corporation
Aspen Aerogels Inc.
Owens Corning Insulating Systems
DowDuPont Inc.
Kingspan Group plc.
Johns Manville Corporation
Knauf Insulation
Saint-Gobain