“Refrigeration Insulation Materials Global Market Report 2023 ” 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 refrigeration insulation materials 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.
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Where is the largest and fastest growing market for refrigeration insulation materials? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The refrigeration insulation materials 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 market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Elastomeric Foam; PU And PIR; Polystyrene Foam; Fiberglass; Phenolic Foam; Other Types
- 2) By Applications: Commercial; Industrial; Cryogenic; Refrigerated Transportation
- 3) By End-Use Industry: Food and Beverage; Chemicals and Pharmaceuticals; Oil and Gas and Petrochemicals; Other End-Use Industries
- Companies Mentioned: Armacell; Owens Corning; Kingspan Group; Morgan Advanced Materials; Etex Group
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the refrigeration insulation materials market are Armacell, Owens Corning, Kingspan Group, Morgan Advanced Materials, Etex Group, BASF SE, Aspen Aerogels Inc., Lydall Inc., Zotefoams Plc., L'Isolante K-Flex S.p.A., Rinac, Johns Manville, NMC SA, Zhejiang Zhenshen Thermal Insulation Technology Co. Ltd., and Kumtek Elektronik.
The global refrigeration insulation materials market is expected to grow from $3.87 billion in 2022 to $4.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refrigeration insulation materials market is expected to grow to $5.30 billion in 2027 at a CAGR of 6.40%.
The refrigeration insulation materials market consists of sales of refrigeration insulation materials of various temperature ranges including low-temperature thermal insulation (-267.8 oC - 156oC), intermediate temperature thermal insulation (16.1 oC - 315.6 oC) and high-temperature thermal insulation (316.1 oC - 815 oC). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Refrigeration insulation materials play an important role in controlling heat gains in industrial refrigeration systems. Refrigeration insulation materials are installed in the compressor and evaporator pipes. Insulation is also used to save energy, prevent condensation and ice formation, and reduce corrosion.
Europe was the largest region in the refrigeration insulation materials market in 2022. The regions covered in the refrigeration insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of refrigeration insulation materials are elastomeric foam, PU (polyurethane) and PIR (polyisocyanurate), polystyrene foam, fiberglass, phenolic foam, and others. Elastomeric foam is a closed-cell synthetic rubber available in factory-made tubes, sheets, or rolls. The various applications involved are commercial, industrial, cryogenic, and refrigerated transportation that are used by food and beverage, chemicals and pharmaceuticals, oil and gas and petrochemicals, and other end-use industries.
Increasing sales of refrigeration systems are expected to propel the growth of the refrigeration insulation materials market going forward. The demand for refrigeration systems is increasing as they are essential processes in industry and home applications and perform cooling or maintain the desired room temperature. The purpose of a refrigeration insulation system is to reduce heat flow in cooled spaces or cold devices like refrigerated pipes, vehicles, warehouses, and HVAC, which is made possible by the use of refrigeration insulation materials. For instance, according to a report published by ANIMA Confindustria Meccanica Varia, an Italy-based industrial organization that represents companies involved in mechanical engineering, in 2021, Italy's national production value of heating, ventilation, and air conditioning (HVAC) was approximately 825 million euros (USD 858.6 million), an increase of 11% over the previous year and 4% over 2019, while the total market in Italy exceeded 2.260 billion euros (USD 2.35 billion), an increase of 37% over 2020 and 33% over 2019. And heat pumps and air-cooled refrigeration units grew by 120 percent in volume and 130 percent in value in the size segment below 17 kW in 2021, indicating a noticeable increase in the hydronic industry. Therefore, increasing sales of refrigeration systems are driving the growth of the refrigeration insulation materials market.
Product innovations are a key trend gaining popularity in the refrigeration insulation materials market. Major companies operating in the market are developing innovative products to sustain their position in the market. For instance, in May 2022, Honeywell International Inc., a US-based engineering and technology company launched a hydro fluoro olefin (HFO)-based refrigerant, Solstice 456A for the European automotive aftermarket. The new technology has the potential to reduce the greenhouse gas (GHG) emissions footprint of existing vehicle air conditioning systems by more than 50%. Solstice 456A is a simple, cost-effective drop-in service solution for vehicles manufactured before 2017. It contributes to meeting the needs of vehicle owners and auto repair shops in the face of ongoing EU climate-related legislation. The product line includes refrigerants for supermarkets, air conditioning for cars and trucks, blowing agents for insulation, propellants for personal and household care, and solvents for cleaning solutions, which help customers reduce greenhouse gas emissions and improve energy efficiency without sacrificing end-product performance.
In October 2022, Armacell, a Luxembourg-based industrial foams and flexible insulation materials manufacturer and supplier acquired Austroflex Rohr-Isoliersysteme GmbH for an undisclosed amount. With the acquisition of Austroflex, Armacell will expand its geographic and market exposure in Europe while strengthening its product portfolio, expertise, and manufacturing capabilities to serve the energy-efficient and rapidly growing pre-insulated pipe market. Austroflex Rohr-Isoliersysteme GmbH is an Austria-based company involved in technical insulation solutions, thermal solar pipe systems, and flexible pre-insulated pipe systems.
The countries covered in the refrigeration insulation materials market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The refrigeration insulation materials market research report is one of a series of new reports from The Business Research Company that provides refrigeration insulation materials market statistics, including refrigeration insulation materials industry global market size, regional shares, competitors with refrigeration insulation materials market share, detailed refrigeration insulation materials market segments, market trends, and opportunities, and any further data you may need to thrive in the refrigeration insulation materials industry. This refrigeration insulation materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Refrigeration Insulation Materials Market Characteristics
3. Refrigeration Insulation Materials Market Trends And Strategies
4. Refrigeration Insulation Materials Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Refrigeration Insulation Materials Market
- 4.2. Ukraine-Russia War Impact On Refrigeration Insulation Materials Market
- 4.3. Impact Of High Inflation On Refrigeration Insulation Materials Market
5. Refrigeration Insulation Materials Market Size And Growth
- 5.1. Global Refrigeration Insulation Materials Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Refrigeration Insulation Materials Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Refrigeration Insulation Materials Market Segmentation
- 6.1. Global Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Elastomeric Foam
- PU (Polyurethane) And PIR (Polyisocyanurate)
- Polystyrene Foam
- Fiberglass
- Phenolic Foam
- Other Types
- 6.2. Global Refrigeration Insulation Materials Market, Segmentation By Applications, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Industrial
- Cryogenic
- Refrigerated Transportation
- 6.3. Global Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food And Beverage
- Chemicals And Pharmaceuticals
- Oil And Gas And Petrochemicals
- Other End-Use Industries
7. Refrigeration Insulation Materials Market Regional And Country Analysis
- 7.1. Global Refrigeration Insulation Materials Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Refrigeration Insulation Materials Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Refrigeration Insulation Materials Market
- 8.1. Asia-Pacific Refrigeration Insulation Materials Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Refrigeration Insulation Materials Market
- 9.1. China Refrigeration Insulation Materials Market Overview
- 9.2. China Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Refrigeration Insulation Materials Market
- 10.1. India Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Refrigeration Insulation Materials Market
- 11.1. Japan Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Refrigeration Insulation Materials Market
- 12.1. Australia Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Refrigeration Insulation Materials Market
- 13.1. Indonesia Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Refrigeration Insulation Materials Market
- 14.1. South Korea Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Refrigeration Insulation Materials Market
- 15.1. Western Europe Refrigeration Insulation Materials Market Overview
- 15.2. Western Europe Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Refrigeration Insulation Materials Market
- 16.1. UK Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Refrigeration Insulation Materials Market
- 17.1. Germany Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Refrigeration Insulation Materials Market
- 18.1. France Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Refrigeration Insulation Materials Market
- 19.1. Eastern Europe Refrigeration Insulation Materials Market Overview
- 19.2. Eastern Europe Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Refrigeration Insulation Materials Market
- 20.1. Russia Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Refrigeration Insulation Materials Market
- 21.1. North America Refrigeration Insulation Materials Market Overview
- 21.2. North America Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Refrigeration Insulation Materials Market
- 22.1. USA Refrigeration Insulation Materials Market Overview
- 22.2. USA Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Refrigeration Insulation Materials Market
- 23.1. South America Refrigeration Insulation Materials Market Overview
- 23.2. South America Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Refrigeration Insulation Materials Market
- 24.1. Brazil Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Refrigeration Insulation Materials Market
- 25.1. Middle East Refrigeration Insulation Materials Market Overview
- 25.2. Middle East Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Refrigeration Insulation Materials Market
- 26.1. Africa Refrigeration Insulation Materials Market Overview
- 26.2. Africa Refrigeration Insulation Materials Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Refrigeration Insulation Materials Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Refrigeration Insulation Materials Market Competitive Landscape And Company Profiles
- 27.1. Refrigeration Insulation Materials Market Competitive Landscape
- 27.2. Refrigeration Insulation Materials Market Company Profiles
- 27.2.1. Armacell
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Owens Corning
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Kingspan Group
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Morgan Advanced Materials
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Etex Group
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Refrigeration Insulation Materials Market
29. Refrigeration Insulation Materials Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer