PUBLISHER: The Business Research Company | PRODUCT CODE: 1648603
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648603
Cold insulation involves the use of insulation services to insulate various operational mechanical components, maintaining specific temperatures typically lower than the ambient temperature during manufacturing processes. These materials are applied to coat mechanical components, preventing issues such as condensation, moisture intrusion, long-term degradation, and other challenges in the manufacturing environment.
The primary types of cold insulation materials include fiberglass, polyurethane foam, polystyrene foam, phenolic foam, and other materials. Fiberglass comprises thin glass fibers that impede the spread of heat and cold, limiting airflow in residential and commercial projects. Various insulation types, such as fibrous, cellular, and granular insulation, are utilized across diverse industries, including heating, ventilation, air conditioning, refrigeration, oil and gas, chemicals, and others.
The cold insulation market research report is one of a series of new reports from The Business Research Company that provides cold insulation market statistics, including cold insulation industry global market size, regional shares, competitors with a cold insulation market share, detailed cold insulation market segments, market trends and opportunities, and any further data you may need to thrive in the cold insulation industry. This cold insulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cold insulation market size has grown rapidly in recent years. It will grow from $6.79 billion in 2024 to $7.47 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increased demand for industrial refrigeration, increased construction projects, oil and gas industry, increased need for food and beverage storage, and energy efficiency regulations.
The cold insulation market size is expected to see rapid growth in the next few years. It will grow to $11.12 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing demand for green insulation materials, cold chain logistics expansion, increasing need for biopharmaceuticals and vaccines, growing need for renewable energy cold storage, and infrastructure development. Major trends in the forecast period include advanced refrigeration technologies, innovative sustainable building practices, energy performance contracting solutions, technological advancements, and strategic collaborations.
The cold insulation market is anticipated to experience substantial growth, driven by the increasing demand for refrigeration and air-conditioning devices. Refrigeration devices are employed to extract heat from enclosed spaces or substances, while air conditioning devices regulate temperature, heating, or dehumidification in residential and non-residential settings. Cold insulation plays a crucial role in enhancing the efficiency of these devices by minimizing energy loss and preventing condensation. Notably, in July 2023, Canadians spent $1.2 billion on heating and cooling systems, including air vents, central air conditioners, and related equipment, as reported by Statistics Canada for the year 2022. Major home appliances, encompassing room air conditioners, witnessed additional retail sales of $7.2 billion in the same period, with over 1.2 million stand-alone air conditioners imported into Canada in 2022, amounting to $458.5 million.
The increasing construction activities are anticipated to drive the growth of the cold insulation market in the coming years. The construction sector encompasses the business of creating, maintaining, and repairing structures, along with drilling and mineral exploration. Cold insulation is utilized in construction to minimize heat transfer from the object being insulated to the surrounding air. The application of cold insulation materials in construction offers several advantages, such as preventing condensation, moisture intrusion, and long-term issues. For example, in July 2024, the US Census Bureau, a government agency in the United States, reported that the value of construction activities increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Hence, the rise in construction activities is fueling the growth of the cold insulation market.
A noteworthy trend influencing the cold insulation market is the emphasis on product innovations. Leading companies in the cold insulation sector are actively engaged in developing novel products to strengthen their market position. For instance, in March 2022, ACC Limited, a prominent Indian cement producer, introduced ACC Airium-a thermal-insulating climate control concrete system. Leveraging mineral foam-based insulating technology, ACC Airium offers superior thermal insulation properties, making it a preferred solution for various applications, including residential and commercial buildings. The innovative concrete system not only ensures long-lasting roofing solutions but also contributes to reduced energy consumption, improved air quality, and minimized environmental impact.
Leading enterprises in the cold insulation market are actively directing their efforts toward the introduction of cutting-edge thermal bridging solutions, aiming to enhance energy efficiency and secure a competitive advantage. These solutions are designed to mitigate or eliminate heat transfer by utilizing materials with lower conductivity or by establishing a thermal break between materials. An exemplar of this trend is Owens Corning, a prominent US-based composite material company, which, in January 2022, unveiled FOAMGLAS Perinsul SIB. This cold insulation and thermal bridging solution, crafted from cellular glass, specifically target the elimination of thermal bridging beneath exterior masonry veneer walls. The cellular glass block of FOAMGLAS Perinsul SIB not only addresses the challenges historically associated with thermal bridging close to the foundation but also meets structural load and thermal performance standards. Notably, cellular glass insulation is impervious to water, nonabsorbent, and resistant to shrinkage, compression, or distortion, even under elevated temperatures.
In September 2024, Krempel GmbH, a Germany-based company recognized as a leading provider of innovative insulation materials and technical laminates, acquired EIC Insulation Company for an undisclosed sum. This acquisition aims to boost Krempel GmbH's global presence in the Americas and enhance its product portfolio. The primary goal is to ensure that customers in the energy sector can access a comprehensive product lineup more quickly and efficiently at their production sites. EIC Insulation Company is a Mexico-based firm dedicated to providing high-quality cold insulation systems for various industrial applications.
Major companies operating in the cold insulation market include BASF SE, Huntsman Corporation, The Dow Chemical Company, Armacell International Holding Gmbh, Aspen Aerogel Inc., Evonik Industries AG, Owens Corning, Dongsung Finetec Corporation, Certain Teed Corporation, Pittsburgh Corning Corporation, Covestro AG, Rockwool International, Bradford Insulation Industries Ltd., Arabian Fiber Glass Insulation Co. Ltd., Unifrax, Nichias Corporation, Paroc Group, NMC Insulation, ODE Insulation, Aeroflex, PPG Industries, DUNMORE Corporation, Fletcher Insulation, Flexi-Therm, Amerisol, Superlon, Aerolam Insulations
Asia-Pacific was the largest region in the cold insulation market in 2024. The regions covered in this cold insulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the cold insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The cold insulation market includes revenues earned by entities by providing more accurate control of process temperatures to prevent heat loss or heat gain. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cold Insulation Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cold insulation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cold insulation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cold insulation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.