Refrigeration Insulation Materials Market Growth Outlook: Trends, Market Size, and Opportunities Over the Next Decade
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Refrigeration Insulation Materials Market?
The refrigeration insulation materials market is predicted to grow due to the escalating demand for frozen food. This category of food, which undergoes a preservation technique involving temperatures reduced below its freezing point, usually around -18 degrees Celsius or 0 degrees Fahrenheit, is increasingly becoming a favoured choice for consumers who are time-crunched and seeking quick and easy meals. The popularity of frozen food is due to its longer shelf life, convenience, and nutritional preservation. A major contributing factor to the growth of the frozen food industry is refrigeration insulation. By improving energy efficiency, reducing running costs, and maintaining product quality, it crucially supports the burgeoning consumer interest for food choices that offer convenience. Data reported by the American Frozen Food Institute (AFFI), a non-profit organization in the U.S, in January 2023, revealed that in 2022, there was an impressive rise of 8.6% in frozen food sales in the United States, recording a total of $72.2 billion. Consequently, ballooning demand for frozen food is likely to give a boost to the refrigeration insulation materials market.
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What is the Predicted Annual Growth Rate of theRefrigeration Insulation Materials Market Impact Industry Trends by 2034?
Strong growth has been observed in the refrigeration insulation materials market size in the past few years. The market, which was valued at $4.4 billion in 2024, is anticipated to swell to $4.71 billion in 2025, marking a compound annual growth rate (CAGR) of 7.0%. Key factors driving this growth during the historic period include energy efficiency norms, expansion of the refrigeration sector, environmental laws, consumer consciousness, commercial and industrial construction activities, as well as the cold chain logistics.
The market size of refrigeration insulation materials is predicted to witness substantial growth in the coming years. It is anticipated to reach $6.34 billion by 2029, with a compound annual growth rate (CAGR) of 7.7%. Factors attributing to the growth in the forecasted period include the globalization of food supply chains, a focus on sustainable insulation, increasing demand for frozen and chilled foods, governmental incentives, and the surge in e-commerce. The forecast period is also expected to see major trends like advancements in aerogel insulation, customization and prefabrication, the employment of nanotechnology, smart building technologies, and technological innovations.
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What Are the Most Significant Market Trends Transforming theRefrigeration Insulation Materials Market?
The emerging trend of product innovations is significantly impacting the refrigeration insulation materials market. Established players in the market are coming up with groundbreaking products to retain their market share. As an example, in May 2022, Honeywell International Inc., an engineering, and technology organization hailing from the US, unveiled an innovative hydro fluoro olefin (HFO)-based refrigerant, named Solstice 456A, targeting the European automotive aftermarket. This next-generation technology can curtail the greenhouse gas (GHG) emissions of existing car air conditioning systems by over 50%. Solstice 456A offers a simple, cost-efficient replacement service solution for vehicles built before the year 2017. It helps meet the demands of car owners and automobile repair businesses amid continuing EU climate-related regulations. The product range consists of refrigerants for grocery stores, automobile, and truck air conditioners, blowing agents for insulation, propellants for personal care, and household, on top of solvents for cleaning products, thus enabling customers to lower greenhouse gas emissions and enhance energy efficiency without compromising the performance of the final product.
What Are the Top Market Players Propelling the Growth of theRefrigeration Insulation Materials Industry?
Major companies operating in the refrigeration insulation materials market include Armacell International GmbH, BASF SE, Johns Manville Corp., Kingspan Group plc, L’Isolante K-Flex S.p.A., Lydall Inc., Morgan Advanced Materials plc, NMC SA, Owens Corning Fiberglass Company, Rinac India Ltd., Zhejiang Zhenshen Thermal Insulation Technology Co. Ltd., Zotefoams plc, Cabot Corporation, Saint-Gobain S.A., Dow Chemical Company, Huntsman Corporation, Sekisui Chemical Co. Ltd., Nitto Denko Corporation, Thermaflex International Holding B.V., Knauf Fiber Glass, Etex Building Performance International S.A.S., Isover AB, Kflex India Pvt. Ltd., Aspen Aerogel Inc., Insulated Products Corp., Thermal Products Company Inc., LiteForm Technologies LLC, PPG Industries Inc.
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Which Primary Segments of the Refrigeration Insulation Materials Market Are Driving Growth and Industry Transformations?
The refrigeration insulation materials market covered in this report is segmented –
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
Subsegments:
1) By Elastomeric Foam: Closed Cell Elastomeric Foam, Open Cell Elastomeric Foam
2) By PU And PIR (Polyurethane And Polyisocyanurate): Rigid PU Foam, Flexible PU Foam, PIR Foam
3) By Polystyrene Foam: Expanded Polystyrene (EPS), Extruded Polystyrene (XPS)
4) By Fiberglass: Batts And Rolls, Rigid Fiberglass Boards
5) By Phenolic Foam: Rigid Phenolic Foam, Flexible Phenolic Foam
6) By Other Types: Aerogel, Cellulose Insulation
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Refrigeration Insulation Materials Market?# Market?
Europe was the largest region in the refrigeration insulation materials market in 2024. The regions covered in the refrigeration insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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