High temperature insulation Market Hits $5.14 Billion By 2020
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
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.
Full
Research Report On Global High Temperature Insulation Market Analysis:
http://www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry
http://www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry
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.
View more
reports of this category by Grand View Research at:
http://www.grandviewresearch.com/industry/green-building-materials
http://www.grandviewresearch.com/industry/green-building-materials
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
View press
release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-high-temperature-insulation-market
http://www.grandviewresearch.com/press-release/global-high-temperature-insulation-market
About
Grand View Research
Grand 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 fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
Comments
Post a Comment