Asia-Pacific Cold Insulation Market Perceive Robust Expansion by 2017 – 2023
The Asia-Pacific cold insulation market was valued at $1,912,720 thousand in 2016, and is estimated to reach $3,251,903 thousand by 2023, growing at a CAGR of 7.7% from 2017 to 2023. Cold insulation is a form of insulation used to avoid heat loss or heat gain to conserve the valuable energy. Cold insulation is applied to a cold surface for the purpose of cold conservation, avoid condensation, and maintain low temperature for process control. These processes is used in various sectors such as chemicals, oil & gas, and refrigeration. The growth of the Asia-Pacific cold insulation market is attributed to industrial expansion, growth in construction industry, and favorable government regulations to promote thermal & cold insulation. Cold insulation acts as a barrier to heat flow and reduces the problem of moisture condensation in cold systems. The market is further driven by its high demand in oil & gas industries and favorable government regulations reg...