The Insulation Contractors Association of America has released a 25C Insulation Tax Credit Online Calculator, promotional materials and educational resources.
The industrial insulation market size is projected to reach $5 billion by 2027, at a CAGR of 5.4 percent from 2022. The power industry had the largest market share in 2021, followed by the oil & petrochemical segment during the forecast period.
The thermal insulation market is expected to grow from $53.39 billion in 2022 to $72.9 billion by 2028; it is expected to grow at a CAGR of 5.3 percent from 2022 to 2028.
The global building thermal insulation market will grow to $35.3 billion by 2027, a CAGR of 4.7 percent from $8 billion in 2022. The use of building thermal insulation has witnessed significant growth because of the increasing requirement for improved heating and cooling comfort and better fire resistance of building thermal insulation materials, such as glass wool, stone wool and plastic foams.