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.
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Global HTI products volume, by application, 2012
Further key findings from the report
suggest:
·
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