San Francisco, 21 December 2018: The Report High Temperature Insulation Market Analysis Report By Product (Ceramic Fiber,
Insulating Firebrick, Calcium Silicate), By Application (Petrochemicals,
Cement, Refractory), And Segment Forecasts, 2012 - 2020
Based on a report published by
Grand View Research, Inc.; the global high temperature insulation market is
anticipated to value USD 5.14 billion by 2020. Stringent government regulations
to reduce emissions of Greenhouse Gas (GHG) is anticipated to drive the market
growth. High Temperature Insulation (HTI) reduces emission and encourage energy
savings. This factor is projected to bode well for demand in near future.
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| High Temperature Insulation Market |
Development of using raw
materials such as metal oxides like zirconium, silica, alumina, and non-oxides
like carbides is on the rise, owing to rising necessity to reduce energy
consumption. However, manufacturers are required to get government approvals. Developing
durable and safe HTI products is projected to remain a key challenge for the
industry manufacturers. Hence, the companies are expected to invest in R&D
and make horizontal and vertical integrations to drive market concentration. Development
of bio-based and low-bio persistent insulation products can also create productive
opportunities for market players in near future.
Access Research Report of High Temperature Insulation
Market@ www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry
The worldwide high temperature
insulation market can be segregated on the basis of product, application, and
region. Based on product, the market can be categorized into calcium silicate,
insulting firebrick, ceramic fiber, and others. In 2012, ceramic fiber segment emerged
dominant with a 60.5% market share in terms of volume. Shifting preference from
asbestos to ceramic fibers for high temperature insulation in kilns and furnace
linings is projected to propel the demand. Effective properties of ceramic
fibers such as thermal shock resistance, high strength, and light weight can
drive demand from multiple applications like ceramics, petrochemicals, and
aluminum. Insulating firebrick is expected to witness steady growth over the
forecast period. Advantages like electric shock, high temperature, and pressure
resistance and low operating costs can drive the demand.
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Grand View Research at: www.grandviewresearch.com/industry/green-building-materials
Based on application, the
market for high temperature insulation can be classified into ceramics,
petrochemicals, cement, iron and steel, glass, refractory, powder metallurgy,
aluminum, and others. In 2012, petrochemical segment held the largest market
share owing to rising need for primary and secondary petrochemicals. In
addition, growing awareness regarding conservation of energy can fuel demand from
this sector over the forecast period. Cement segment is projected to witness
growth owing to increasing use of HTI products to reduce GHG emissions. Approximately
5% of GHG emission is caused by cement production. HTI products can reduce this
emission by 20%. This, in turn, can augment demand from cement application sector.
Regional segmentation includes
Europe, North America, Asia Pacific, and Rest of the World (RoW). In 2012,
North America accounted for market share equivalent to USD 953.7 million. Growing
environmental concerns and energy consumption can propel regional growth. The
region is the largest emitter of GHG with around 43% of total regional emission.
This factor is anticipated to impel regional demand over the forecast period. However,
the regional market is in saturation phase, which is likely to obstruct new entrants.
Europe is anticipated to
witness significant growth over the forecast period attributed to rising
industrialization. Rising demand for high temperature insulation products from iron
and steel sector can stimulate regional growth. Iron and steel sector is
anticipated to witness substantial rise in demand in near future. Processes such
as smelting generate high heat with temperatures as high as 2,0000C
in blast furnaces. Lack of insulation can cause loss of around 20% to 30% of this
heat energy. Hence, utilization of HTI is on the rise in the iron and steel
sector.
Some of the leading companies
operating in the high temperature insulation market are 3M Company, Cellaris
Ltd, Dyson Group, Insulcon Group, and Promat International NV. The market is
characterized by long-term supply contracts and backward integration. Market penetration
and raw material supply are expected to remain some of the major challenges. However,
business strategies like mergers and acquisitions can create lucrative
opportunities for new companies to break barriers in the market.
Access
Press Release of High Temperature Insulation
Market@ 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.
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