Industrial Insulation Market Observe Significant Growth Of USD 12.10 Billion By 2030
San Francisco, 2 Nov 2022: The Report Industrial Insulation Market Size, Share & Trends Analysis Report By Material (Stone Wool, Glass Wool, Foamed Plastic), By Product, By Application (Power Generation, EIP), By Region, And Segment Forecasts, 2022 - 2030 The global industrial insulation market size is expected to reach USD 12.10 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.0%, according to a new report by Grand View Research, Inc. The increasing demand for adequate thermal insulation for industrial equipment for energy-efficient operations, and economical design, is expected to drive the market during the forecast period. The raw materials used for the production of various industrial insulation products are available in abundance, which benefits the industry. However, some of the feedstock used for insulation production is derived from petrochemicals, so fluctuations in the price of crude oil result in changes in the procurement cost of the feedsto