London - The cold insulation market is to reach $4.8 billion by 2018 to meet the rising need energy efficiency, production green-gases and growing infrastructure, according to a new report by Markets and Markets.
The report, which looks at a number of types of cold insulation including polyurethane foam, said the US leads the world in terms of usage of advanced materials to increase the efficiency and reliability of operations. The US market is expected to experience highest revenue growth during the next five years, followed by Asia-Pacific, Markets and Markets said in a press release.
The low-temperature thermal insulation market is still in its infancy in Africa but the report notes that this region is experiencing high growth on account of increased infrastructure spending.
The 228-page report, called 'Cold Insulation Market By Types (Fiber Glass, Polyurethane Foam, Polystyrene Foam, Phenolic Foam & Others) & Application (HVAC, Refrigeration, Oil & Gas, Chemicals & Others) Global Trends & Forecasts To 2018', is available from Markets and Markets.