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High Temperature Insulation Market Bonded to a Striking Growth by 2022; Asserts MRFR

Pune, India, January 9, 2018/MRFR Press Release/- Market Research Future Published a Half-Cooked Research “Global High Temperature Insulation Market Research Report - Forecast to 2022” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.    

Morgan Advanced Materials (U.K.), LUYANG ENERGY-SAVING MATERIALS CO.,LTD. (China), RHI Feuerfest GmbH (Austria), Mitsubishi Plastics, Inc. (Japan), 3M (U.S.), Isolite Insulating Products Co., Ltd. (Japan), Etex (Belgium), BASF SE (Germany), Owens Corning (U.S), and Unifrax I LLC (U.S.) among others are some of the prominent players at the forefront of competition in the Global High Temperature Insulation Market and are profiled in MRFR Analysis.

High Temperature Insulation Market – Market Overview:

The global high temperature insulation market is growing with the impulsive pace mainly due to the burgeoning petrochemical industries. According to a recent study report published by the Market Research Future, the global market of high temperature insulation is booming and expected to gain strong influence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period (2023 - 2032).

Globally, the market for high temperature insulation is driven by the region Asia Pacific, owing to an increase in the production capacity resulting into a growing demand for the product in the petrochemical sector. Ceramic fibers are used in blankets, boards, felts, bulk fibers, and others to provide low thermal conductivity, surface emissivity, and excellent thermal thickness of insulation to the final product. Moreover, insulation materials are also used in furnace linings, hot face, intermediate, flexible pipe insulation, seals, and others.

Increasing demand for the product in applications such as kiln linings, high temperature packaging, curing membranes, storage tanks, and others signifies the growth of petrochemical industry. Moreover, growing consumption of product in glass, ceramics, and iron & steel provide a momentum to the high temperature insulation market growth.

On the other hand, the growing infrastructural development and facilities in end-use industries is projected to propel the market growth during the forecast period.

High temperature insulation materials are used in a numerous end-uses such as valves, flanges, expansion joints, heat exchangers, boilers, furnaces, and others to provide excellent thermal resistance, and superior performance to the final products. They are also utilized in ceramic and textiles industries due to lightweight and corrosion resistance offered by them. The growing demand of these materials has prompted the manufacturers and investors to minimize the heat loss and energy savings factors in end-use applications. Additionally, an increase in the number of mergers & acquisitions among the leading companies have resulted into a remarkable growth in the market during the last couple of years.

Regional Analysis:

Geographically, Asia Pacific region is leading the global high temperature insulation market. China holds the major portion in the region owing to rapid urbanization coupled with extensive use of the product in major industries. Growing demand for insulation materials in ceramics, glass, aluminium, iron & steel, cement, refractory and powder metallurgy has boosted the market demand in Japan, and India. North America has witnessed a significant growth in the market owing to rapid investments in end-use industries. A notable growth has been received by the European region due to implementation of strict rules and regulations in end-use industries. Additionally, the market is growing significantly in the Middle East & Africa and Latin America regions, due to growing research & development activities of the product in major industries.        

High temperature insulation Market- Competitive Landscape:

The high temperature insulation market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. High temperature insulation market is set to grow at a higher rate which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers functioning in the high temperature insulation market are striving to respond to an increase in demand for the product from ceramics, glass, aluminium, iron & steel, cement, refractory and other sectors attributed to boundless use of the product in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.

Industry/ Innovation/ Related News:

May 15, 2017 – Owens Corning (U.S.), one of the leading manufacturers of high temperature insulation, declared that the company has signed an agreement to buy Pittsburgh Corning’s cellular glass insulation systems for commercial and industrial applications. These systems provide superior performance and high standard quality to the product. One of the sources of the company declared that this deal is set to expand the production facility and create job opportunities in the market. Therefore, these factors are estimated to propel the market over the assessment period.

 September 26, 2017 – Unifrax I LLC (U.S.), one of the leading manufacturers of high temperature insulation, announced that the company has launched a low bio-persistent (LBP) fiber Isofrax® 1400. The main feature about this product that it can withstand high temperatures. Excellent thermal conductivity, shock resistance, and others are the important trends and factors driving the market positively. Therefore, its growing consumption in end-use applications is set to boost the market growth during the forecast period.

Read More About This Report: high temperature insulation market share

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