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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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
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