Global high-temperature insulation market is poised to
reach USD 5.14 billion by 2020. Increasing emphasis on energy conservation
across various industries is projected to be one of the major driving forces
for the market. Moreover, stringent regulation imposed on metal, cement, and
oil & gas to reduce greenhouse gas emission has further augmented the
industry growth. However, the carcinogenic content in high-temperature
insulation material pose high risk to health, thus is expected to have an
adverse impact on growth
Global HTI products volume, by application, 2012 |
Petrochemical
application accounted for more than 30% of the market by revenue in 2013.
Rising demand for petrochemicals along with the need towards energy
conservation is likely to propel demand for the product in the petrochemical
industry. Furthermore, stringent regulations emphasizing on workplace safety is
expected to impact growth positively.
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Demand for HTI materials in petrochemical industry
is expected to grow at a CAGR of more than 6% over the forecast period. HTI is
also gaining popularity among the powder metallurgy manufacturers. Also,
industries such as aerospace, solar equipment, and fire protection industries
are also projected to augment the demand for HTI over the forecast period.
Ceramic fibers accounted for more than 57% market by
revenue in 2013. Rising trends related to replacing asbestos lining in furnaces
and kilns with ceramic fibers is expected to augment market demand over the
projected period.
Europe accounted for more than 35% market revenue in
2012. Stringent regulations to reduce GHC emission in Europe are expected to be
a key driving factor for the regional market. The demand for HTI product in
Europe is primarily dependent on imports from Asia. North America and Asia
Pacific also contributed to the significant demand for HTI over the forecast
period. Positive regulatory scenario related to improving workplace safety is
expected to propel demand over the projected period.
However, European and North American markets have
reached saturation and supposed to grow at a sluggish rate. In contrast, Latin
America and Asia Pacific region are poised to witness substantial growth owing
to rapid industrialization in Brazil, China, and India. Asia Pacific region is
poised to grow at a CAGR of more than 8.5% over the forecast period.
Asia Pacific accounted for more than 46% of total
production in 2012. Support from the government along with low manufacturing
cost is expected to boost production of HTI materials in the region. Asia
Pacific exports the majority of the HTI material manufactured in the region to
North America and Europe.
Some of the major players in HTI market are Isolite,
Skamol, Promat, Zircar, and Pyrotek. Thermal Ceramics and Unifrax dominate the
global HTI market. Thermal Ceramics and Unifrax together accounted for over
one-third of the total industry in 2012.
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Grand View Research has segmented the global high temperature
insulation market on the basis of product, application and region:
High
Temperature Insulation Product Outlook
- Ceramic
Fiber
- Insulating
Firebrick
- Calcium
Silicate
- Other
High
Temperature Insulation Application Outlook
- Petrochemicals
- Ceramics
- Glass
- Cement
- Iron
& Steel
- Refractory
- Powder
metallurgy
- Aluminum
- Others
High
Temperature Insulation Regional Outlook
- North America
- Europe
- Asia
Pacific
- Rest of
the World
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Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-high-temperature-insulation-market
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View Research:
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
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