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The Worldwide Industrial Insulation Industry is Expected to Reach $3 Billion by 2025 at a CAGR of 5% from 2020
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The global industrial insulation market is projected to reach USD 3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 5% during the forecast period.
The demand for industrial insulation in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in industrial activities and growing electricity demand as a result of infrastructural development.
Low awareness and fluctuation in crude oil prices & availability are major restraining factors for the market. The high cost of installation and requirement of skilled workforce is a major challenge for the industrial insulation market. The demand for industrial insulation is rising, owing to the growing demand for cost-effective and sustainable insulation materials. Increased infrastructural spen
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The global doors market size is projected to grow from USD 90.6 billion in 2020 to USD 118.2 billion by 2025, at a CAGR of 4.8% between 2020 and 2025.
The growing construction industry and changing interior decor preferences of customers are driving the market for doors. However, high investment & installation costs of eco-friendly doors are expected to restrain this market. Rapid urbanization in emerging economies is expected to offer significant growth opportunities to manufacturers of doors. The major challenge faced by players is fluctuating raw material prices and growing environmental concerns and implementation of standards indoor products.
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The European paints & coatings market is projected to grow from USD 30.6 billion in 2020 to USD 34.3 billion by 2025, at a CAGR of 2.3% between 2020 and 2025.
Economic & demographic growth, increasing residential building activities, growing urbanization, and increase in housing construction expenditure are the important drivers of the European paints & coatings market.
Architectural is projected to be the largest end-use industry, in terms of volume for European paints & coatings. The architectural paints & coatings market is estimated to witness growth due to increasing disposable income and growing demand for interior decoration & beautification in both residential as well as commercial segments. The growing urban population in most of the developing regions is driving the construction industry. Growth in the non-residential sector is mainly due to the growing demand for commercial spaces, such as offic