High Temperature Insulation Market Size To Expand at a Notable CAGR Of 8.50 % During 2023 - 2032

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global High Temperature Insulation Market. 

Overview:

High temperature insulation (HTI) materials market are designed with the objective to reduce heat losses. These products are used for refractory linings of thermal industrial plants to enhance energy performance, efficiency, and safety. In addition to temperature intensive applications for minimizing heat transfer and greenhouse gas emission, HTI products are also used for various industrial applications ranging from project and maintenance work in refineries to petrochemical & gas processing plants.

The petrochemical processing is the largest end-user industry of the HTI products which is driving the high temperature insulation market. Moreover, other end-user industries such as aerospace, automotive, fire protection and solar applications are escalating the market on the global platform.

Acknowledging the exponential traction, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global high temperature insulation market will touch the valuation of USD 6.04 billion mark by 2022, registering over 8.50% CAGR throughout the forecast period (2023 - 2032).

Strong energy codes and utility savings are some of the significant driving forces pushing up the entire HTI market. Increasing demand for energy savings to cut down manufacturing cost and environmental concerns over greenhouse emission act as major tailwinds that boost the market growth.  

Additional factors fostering market growth include obligatory stringent regulations imposed on the cement, O&G, and metal producing industries to reduce greenhouse emission and the government regulatory emphasis on energy conservation across the sectors.

Besides, the availability of HTI products in the form of blankets, insulating bricks, and boards that can be modified for use in kilns, furnaces, and kiln cars, this customizable nature of HTI provides a tremendous impetus to the growth of the high temperature insulation market.

On the other hand, factors such as the carcinogenic content in high-temperature insulation material are anticipated to obstruct the growth of the HTI market. Nevertheless, factors such as the increasing usages of HTI materials in varied industry verticals are expected to support market growth throughout the assessment period.

Global High Temperature Insulation Market – Segmentation

MRFR has segmented the HTI market into three key dynamics;

By Product Type: Ceramic Fiber, Calcium Silicate, and Insulating Firebrick among others.

By Application: Iron & Steel, Petrochemicals, and Glass among others.

By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.

High Temperature Insulation Market –

Regional Analysis

The Asia Pacific region accounts for the leading market for HTI followed by Latin America. Factors driving the growth of the HTI market in the APAC include the presence of diverse end-use markets ranging from petrochemicals, ceramics, glass, aluminum, cement to iron & steel, refractory, and powder metallurgy among others.

Besides, the growing GDP in some of the rapidly developing countries such as India and China combined with proliferating industrialization is boosting the growth of the regional market. Also, factors such as the growing production and industrial bases increased necessity to save energy and reduce greenhouse emissions are some of the key driving forces pushing up the regional market on the global level.

The increasing foreign investments and rise in the number of new manufacturing plants will contribute to the growth of the APAC high temperature insulation market.

On the other hand, the HTI market in the North American and European region is expected to demonstrate a sluggish growth rate due to the saturation level that HTI product has reached to. Potential growth in the international market hinges heavily onto developing region such as the Asia Pacific, South America, Middle East & Africa.

Global High Temperature Insulation Market – Competitive Analysis

The highly competitive HTI market appears to be fragmented owing to the presence of several large and small-scale players. The high investments getting transpired rapidly are expected to turn the competition further into the intensified landscape. Mergers & acquisitions, innovation, and brand reinforcement remain the key trends for leading players in the HTI market.

Key Players

Key players leading the global HTI market include ADL Insulflex Inc, 3M Company, Almatic GmbH, Insulcon Group, Hi-Temp Insulation Inc., Isolite Insulating Products Company Ltd, Promat International NV, Dyson Group, Pacor Inc., and Cellaris Ltd. Among others.

Industry/ Innovation/ Related News:

September 5, 2018 ----– Japan Insulation Co., Ltd. (Japan), a leading global manufacturer of thermal insulation materials, fire-resistant building materials, and humidity conditioning building materials launched its new thermal insulation material, DAIPALITE-EA.

The new product is developed on the basis of ODA-based cooperation research with Malaysia. It uses rice husk ash instead of silica stone which can be harmful to the environment. This can reduce carbon dioxide emission levels and be used an bio-friendly material.

Browse Complete Report @ High temperature insulation (HTI) materials market share