San Francisco, 27 Mar 2019: The North America industrial insulation market size is projected to reach USD 2.55 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.0% during the forecast period. Rising awareness regarding energy conservation and increasing energy cost are anticipated to drive the market.
The market exhibits extensive competitive rivalry due to presence of a large number of key players offering wide range of products to industries such as oil & gas and petrochemical. In addition, presence of a number of well-established companies is increasing entry barrier, thereby reducing the threat of new entrants.
Abundance in supply of raw materials in the industry is leading to limited change in the price. Increasing use of advanced materials for production of insulation is estimated to propel the market over the forecast period. In addition, high import volumes of low cost raw materials from economies such as China are expected to emerge as a major trend.
Majority of these raw materials used in the production of such materials are derivatives of crude oil or natural stone and sand. Presence of stringent regulations in the U.S. coupled with rising concerns regarding environmental degradation due to excessive mining is likely to pose a challenge the growth of the market over the forecast period.
To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/beauty-personal-care-products-market
Further key findings from the report suggest:
- Foamed plastics are poised to exhibit a CAGR of 3.9% in terms of revenue from 2018 to 2025, owing to its superior characteristics such as sound absorption and superior sealing ability against air leaks
- Pipes were the largest product segment and stood at a volume of 612 kilotons in 2017, on account of ability to control & stabilize process temperatures, prevent formation of condensation, and limit pipe erosion
- Petrochemicals are projected to register a CAGR of 4.1% in terms of value during the forecast period, owing to increasing shale oil exploration and presence of a number of gas refineries in the U.S. and Canada
- U.S. accounted for the leading share in the North America industrial insulation market, accounting over 85.5% of the total revenue in 2017 owing to implementation of recent IECC measures
- Major companies in the market focus on improvement of their product portfolio coupled with high investments in R&D of low-cost materials that provide superior properties.
Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/north-america-industrial-insulation-market-analysis
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
No comments:
Post a Comment