Global OEM Insulation Market to Reach $5.6 Billion by 2030
The global market for OEM Insulation estimated at US$3.7 Billion in the year 2023, is expected to reach US$5.6 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2023-2030. Mineral Wool / Fiber Insulation, one of the segments analyzed in the report, is expected to record a 6.9% CAGR and reach US$3.5 Billion by the end of the analysis period. Growth in the Flexible Elastomeric Foam (FEF) Insulation segment is estimated at 5.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $958.4 Million, While China is Forecast to Grow at 9.8% CAGR
The OEM Insulation market in the U.S. is estimated at US$958.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 9.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$805.7 Million by the year 2030.
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