The North America industrial insulation market size is estimated to touch USD 2.55 billion by the end of 2025 and is anticipated to register a compound annual growth rate of 4.0% from 2018 to 2025. The rising energy costs along with growing awareness about energy conservation are driving the market growth.
The market is highly competitive owing to the existence of top players in North America market. These companies have a wide product offering for petrochemical and other oil industries. Additionally, the industry represents high entry barriers for new entrants due to the well-established players.
The greater availability of raw material is limiting the fluctuation in prices. Moreover, rising usage of improved quality materials in insulation is expected to foster the North America industrial insulation market growth. Additionally, the high import of raw materials and supplies from China at low-cost is projected to bolster the growth of the North America market.
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The raw materials utilized for producing insulation products include derivatives of natural stone, san and crude oil. However, stiff government regulations about environmental degradation along with increasing mining activities may hamper the market growth.
Impact of COVID-19
COVID-19 pandemic has negatively impacted the market. In the U.S., several construction projects, pipelines operation has been disrupted owing to lockdown. California, Texas and Florida have been hit hard by the coronavirus which in turn is adversely impacting the demand for insulation products.
COVID-19 outbreak has posed a challenging situation for continuing manufacturing operations. Industries across Pennsylvania and New Jersey are re-opening which is projected to support the market growth. According to Elite Insulation & PolyPro LLC an insulation contractor company in Virginia. The market is estimated to grow at a significant rate as the construction industry is slowly getting back to normal operation.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 North America Industrial Insulation Market: Market Variables, Trends & Scope
Chapter 4 North America Industrial Insulation Market: Product Estimates & Trend Analysis
Chapter 5 North America Industrial Insulation Market: Application Estimates & Trend Analysis
Chapter 6 North America Industrial Insulation Market: End-use Estimates & Trend Analysis
Chapter 7 North America Industrial Insulation Market: Industrial End-use Estimates & Trend Analysis
Chapter 8 North America Industrial Insulation Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 North America Industrial Insulation Market: Manufacturers Company Profiles
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