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Global High Temperature Insulation Materials Market
The global high temperature insulation materials market was valued US$ 5.36 Bn in 2019 and is expected to reach US$ 9.24 Bn by 2027, at a CAGR of 8.2% during a forecast period. Major attention on energy conservation by the government in evolving economies is expected to cover 50% of market share.
Global High Temperature Insulation Materials Market
High temperature insulation materials are defined as a grouping of materials utilized for energy conservation by averting heat flow.
It has a wide range of application in equipment engineering and building to prevent heat gain. The products are intended to improve the energy competence and to intensify the performance of heating, ventilating, and power systems mounted in industrial as well as commercial sectors.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Growth Factor:
Modernization in the architecture of developed and developing countries, helping construction industries to grow, simultaneously it will help the high temperature market to flourish in the coming years owing to huge demand for power saving installation. The necessity for high temperature insulation materials is progressively rising owing to dynamics such as, increasing industrialization, growing application industries, growing demand from electrical and electronics industry coupled with increasing demand from power generation applications. On the other hand, huge development in the petrochemical industry owing to huge growth in transportation are other key factors to drive the market growth in future. Other trustworthy key factors for the market growth is increasing acceptance of advanced technology in order to boost performance characteristics, like compressive strength and thermal conductivity, is projected to lift the demand.
Moreover, the making of bio-based replacements for high-temperature materials is assessed to generate new openings for industrial expansion. Fire resistance property of fiber glass will dominate the market demand in the forecasted period and thus this product will become popular in developing economies like China, India with the presence of major vendors in the region. Industrial sector is going to heighten the market value since the growth is unstoppable of industries such as iron and steel, glass, ceramics, cement and many more. High temperature insulation materials such as calcium silicate, ceramic fibers and insulating firebricks are mainly used in pipelines, pumps, compressors, power generators, and others in the industrial sector.
Key property and application of high temperature insulation materials include lower thermal conductivity, heat capacity, surface emissivity simple handling is attracting the vendors to invest in the market hence will generate numerous employment opportunity in the coming years.
Moreover, fluctuation in raw material price owing to the recent pandemic situation is causing the oscillation in crude oil price thus boosting the transportation price hence, hindering the market growth in terms of value and volume.
High Temperature Insulation Materials Market Segment analysis:
By the industry segment, petrochemical sub-segment is expected to dominate the market demand during the estimated years. This sub-segment accounted for the largest market share in 2019 and is assessed to expand at a CAGR of XX % over the forecast period owing to the increasing preference of safe and corrosive free structure for oil and gas supply and storage in urban areas. Another application of petrochemical which was followed by the transportation sector and is estimated to grow at a notable rate.
It expands the efficiency of procedures by dropping functioning price, production, and energy consumption in the petrochemical industry. Targeted material works superbly in terms of equipment employed in the roughest atmosphere of oil and gas which is thriving the application of high temperature insulation products in start to end procedures as providing brilliant thermal management system. Another noticeable factor for segment growth is mainly driven by an upsurge in the request for energy in Japan, India, and China owing to the growth of several industries, which is likely to drive the growth of high temperature insulation products market over the calculated period.
High Temperature Insulation Materials Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the high temperature insulation materials market and is expected to grow at a CAGR of 6.02% during the forecast period. China is considered as the leading country because of rapid industrialization and development in ceramics, glass, electrical and electronics in this region. In APAC region, rising oil production in the economies of China and India is expected to drive the market growth.
The objective of the report is to present a comprehensive analysis of the Global High Temperature Insulation Materials Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global High Temperature Insulation Materials Market dynamics, structure by analysing the market segments and project the Global High Temperature Insulation Materials Market size. Clear representation of competitive analysis of key players by Insulation Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global High Temperature Insulation Materials Market make the report investor’s guide.
Scope of High Temperature Insulation Materials Market
Global High Temperature Insulation Materials market, By Type
• Insulating Firebricks
• Ceramic Fibers
• Calcium Silicate
Global High Temperature Insulation Materials market, By End User
• Powder metallurgy
• Iron & Steel
Global High Temperature Insulation Materials Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating in the High Temperature Insulation Materials Market,
• M.E Schupp Industriekeramik Gmbh and Co
• Luyang Energy-Saving Materials Co., Ltd
• Morgan Thermal Ceramics
• Isolite Insulating Products Co. Ltd
• Mitsubishi Plastics Inc
• Hi-Temp Insulation Inc
• Cotronics Corporation
• Bnz Materials In
• Prairie Ceramic Corp
• Ets Schaefer Corp
• 3M Company
• Etex Group
• Dyson Group Plc
• Unifrax I Llc
• Almatis Gmbh
• Pyrotek Inc
• Adl Insulflex Inc
• Insulcon Group
• Skamol A/S
• Ibiden Co., Ltd
• Cellaris Ltd
• Pacor Inc
• Par Group
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