SAN FRANCISCO, June 9, 2020
SAN FRANCISCO, June 9, 2020 /PRNewswire/ -- The global technical insulation market size is expected to reach USD 8.8 billion by 2027, expanding at a CAGR of 2.5%, according to a new report by Grand View Research, Inc. Increasing acceptance of technical insulation across a wide range of applications such as commercial, energy, industrial and OEM is projected to benefit industry growth.
Rapid industrialization across the globe on account of the rising population is anticipated to promote the market. In addition, rising awareness related to the benefits of technical protection of the equipment, personnel, and system is anticipated to drive the market over the forecast period.
Key suggestions from the report:
Read 120 page research report with ToC on "Technical Insulation Market Size, Share & Trends Analysis Report By Type, By Application (Heating & Plumbing, Acoustic), By End Use (Industrial & OEM, Energy), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/technical-insulation-market
Rapid expansion of the commercial sector across the developing economies including China, India, Indonesia, and South Korea is projected to stimulate the demand for HVAC systems, acoustic protection, refrigeration, heating and plumbing protection facilities, thereby driving the industry.
Low awareness related to technical protection coupled with the high capital investment at the initial state is estimated to restrict the expansion of the market. In addition, lack of skilled labors and high cost of raw materials are factors likely to pose a threat to the market over the forecast period.
Grand View Research has segmented the global technical insulation market on the basis of type, application, end use, and region:
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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