According
to a report by Grand View Research, Inc.; the global high temperatureinsulation market is projected to attain USD 5.14 billion by 2020. High
temperature insulation (HTI) products are widely utilized across many end-use
industries in applications that require high temperatures.
Increasing
demand for HTI materials from automotive, aerospace, and petrochemical
industries is anticipated to drive the market over the forecast period (2012 to
2020). In addition, rising need for conservation of the energy across various
industries is anticipated to be the major driving factor for the HTI market. Also,
stringent instructions implemented on oil and gas, cement, and metal industries
to reduce greenhouse gas emission may also create positive impact on the growth
of the market.
Full Research Report On High Temperature
Insulation Market Analysis: https://www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry
Customizable
nature of high temperature insulation products is likely to have positive
impact on the market expansion over the forecast period. The material can be
available in the form of different products such as boards, blankets, insulating
bricks, and castables that can be modified for use in kilns, kiln cars, and furnaces.
Rising focus on the development of bio-based material can reduce the dependency
on synthetic insulation materials. Development of bio-based insulation materials
are extensively utilized in commercial as well as residential sector.
High
demand from fire protection sector is expected to impel growth in the global
market in near future. Execution of strict guidelines for workplace safety is
set to boost this growth. However, the carcinogenic properties of the product may
restrict the market for high temperature insulation during the forecast period.
Frequent replacements of the product can increase cost, which is also
recognized as one of the hindrances for market expansion.
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Worldwide
high temperature insulation market can be segmented on the basis of product, region,
and application. Based on product, the market can be categorized into insulating
firebrick, calcium silicate, ceramic fiber, and others. As per application, the
market for HTI can be classified into aluminum, petrochemicals, glass, ceramics,
cement, iron and steel, powder metallurgy, refractory, and others. Geographically,
the market can be divided into North America, Europe, Asia Pacific, and Rest of
the World.
In
2013, Asia Pacific accounted for the largest share with over 48% of the total market
share in terms of volume. The region is expected to hold nearly 21% revenue share
of global market over the forecast period. Difference in price as compared to
US and European markets is the primary regional driver. The HTI material costs
are likely to remain low in the region due to comparatively low cost of energy and
the materials like silica, alumina, magnesium, and calcium.
In
2012, Asia Pacific region accounted for USD 376.3 million. It is likely to
expand at a CAGR of 9.4% during the forecast period. High demand for high
temperature insulation from ceramics and petrochemicals is the major regional
driver. Europe and North America will offer significant opportunities for
market contributors owing to favorable regulatory scenario and government incentives
for conservation and sustainability of the energy. In Europe, the requirement
for HTI products is likely to reach 157.9 kilo tons by 2020. Despite being home
to major companies, a major chunk of the regional demand is fulfilled by Chinese
suppliers due to low product costs. North America HTI market, on the other
hand, registered USD 953.7 million in 2012. High demand from the US is the
chief regional driver.
Some
of the leading players operating in the high temperature insulation market
include Skamol, Zircar, Isolite, Pyrotek, and Promat. The market consists of
various regional players, which leads to price sensitivity. Most companies are
looking for novel product launches, long term agreements, and business collaborations
to sustain the competition caused by instable raw material prices.
FRIATEC
recently developed DEGUSSIT ZR25, a material combined with insulation
properties and shock resistance. It is designed with specific modification of
the microstructure and partial suppression of the phase transformation. The material
can be suitable for furnace components exposed to heavy loads, crucibles for
inductive melting of precious metals, and steel industry.
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Research
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