High Temperature Insulation Global Market – Overview
High Temperature Insulation materials are products for refractory linings of thermal industrial plants with the objective to reduce heat losses. Materials with low thermal conductivity and low heat capacity have to be used to reach that goal. HTI products are designed to enhance energy efficiency, performance and safety. Apart from temperature intensive application for minimizing heat transfer and greenhouse gas emission, High Temperature Insulations are used for a wide range of industrial applications encompassing project and maintenance work in refineries, petrochemical, and gas processing plants.
According to a recent study report published by the Market Research Future, the Global High Temperature Insulation Market will cross USD 5.16 Billion Mark by 2022 and it is expected to grow over the CAGR of more than 11.4 % during the period 2016 to 2022. Strong energy codes and utilities savings are major market drivers for the entire insulation industry.
Obligatory stringent regulations on cement, oil & gas and metal producers to reduce greenhouse emissions along with government regulatory emphasis on energy conservation across various industries has provided impetus to the growth of High Temperature Insulation market. Moreover availability of HTI products in the form of blankets, boards, and insulating bricks, which can be modified for use in furnaces, kilns, and kiln cars, this customizable nature of HTI is developing the market demand. However, the carcinogenic content in high-temperature insulation material is anticipated to come up as a hurdle to the market growth of High Temperature Insulation Market, states the MRFR Research Analyst while commenting upon the recent study report, presented through more than 100 market data tables and figures, widely spread over 135 pages.
High Temperature Insulation Global Market – Synopsis
Global High Temperature Insulation will cross USD 5.16 Billion Mark by 2022 and it is expected to grow over the CAGR of more than 11.4 % during the period 2016 to 2022.
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The petrochemicals end-user industry is the biggest consumer of the HTI products and is expected to drive the HTI market. However others end-user segment consisting of industries such as aerospace, automotive, fire protection and solar applications is expected to be the fastest growing end-user segment. Increasing need for energy savings to cut down manufacturing cost and environmental concerns over greenhouse emission is the major driving factor for the HTI industry.
Insulating firebricks and other materials (such as perlite, vermiculite, and microporous materials) segments are expected to register high growth in the high temperature insulation materials market. This is due to the increasing usage of high temperature insulation materials in varied industry verticals. Ceramic fibers are the largest type segment of the high temperature insulation materials market. However, owing to their carcinogenic nature, the applicability of ceramic fibers is projected to decline in the near future.
High Temperature Insulation Market – Regional Analysis
Geographically, Asia Pacific is the largest market for HTI followed by Latin America. On the other hand market of North America and Europe with respect to HTI product has reached a saturation (reached a saturation level with respect to what?)Level so is expected to grow at a sluggish growth rate.
Diverse end-use markets range from petrochemicals, ceramics, glass, aluminum, cement, iron & steel, refractory, powder metallurgy and others. Growing GDP in the emerging region, rapid pace of industrialization, growing production and industrial bases, increased necessity to save energy and reduce greenhouse emissions remain key growth driving forces in the post-recession period. Future growth in the international market hinges heavily onto developing economies in Asia-Pacific, South America, Middle East and Africa. The ensuing increase in foreign investments and rise in the number of new manufacturing establishments will contribute to the APAC regions emerge into a prime driver of growth.
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List of Table:
Table 1 World Population by Major Regions (2015 To 2030) (Million)
Table 2 Global High Temperature Insulation Market: By Region, 2014-2022 (USD Million)
Table 3 North America High Temperature Insulation Market: By Country, 2014-2022 (USD Million)
Table 4 Europe High Temperature Insulation Market: By Country, 2014-2022 (USD Million)
Table 5 Asia-Pacific High Temperature Insulation Market: By Country, 2014-2022 (USD Million)
Table 6 Row High Temperature Insulation Market: By Country, 2014-2022 (USD Million)
Table 7 Global High Temperature Insulation by Product type Market: By Regions, 2014-2022 (USD Million)
Table 8 North America High Temperature Insulation by Product type Market: By Country, 2014-2022 (USD Million)
Table 9 Europe High Temperature Insulation by Product type Market: By Country, 2014-2022 (USD Million)
Table 10 Asia-Pacific High Temperature Insulation by Product type Market: By Country, 2014-2022 (USD Million)
List of Figures:
FIGURE 1 Global High Temperature Insulation market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global High Temperature Insulation Market
FIGURE 4 Value Chain of Global High Temperature Insulation Market
FIGURE 5 Share of Global High Temperature Insulation Market in 2014, by country (in %)
FIGURE 6 Global High Temperature Insulation Market, 2015-2022, (USD billion)
FIGURE 7 Sub-segments of Applications
FIGURE 8 Global High Temperature Insulation Market size by Application, 2015
FIGURE 9 Share of Global High Temperature Insulation Market by Application, 2012 to 2022
FIGURE 10 Global High Temperature Insulation Market size by Product type, 2015
FIGURE 11 hare of Global High Temperature Insulation Market by Product type, 2012 to 2022 2015
FIGURE 11 Share of Global 2012 to 2022
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