Industrial Insulation Market expected to expand at a CAGR of 5.0% by 2030
Industrial Insulation Industry Overview 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. Industrial Insulation Market Segmentation Grand View Research has segmented the industrial insulation market based on material, product, application, and region: Based on the Material Insights, the market is segmented into Stone Wool, Glass Wool, CMS Fibers, Calcium Silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica, Others. Stone wool led the market and accounted for about 23% share of the revenue in 2021. Stone wool is manufactured from volcanic rocks such as dolomite, diabase...