High Temperature Insulation Market Analysis

High Temperature Insulation Market Analysis

Ceramic fibers are majorly used for production segment with a market value over USD 1.7 billion in 2016, due it has a wide range of application in varied end-use industries. These fibers have a low thermal conductivity, which helps them to become remarkable energy-saving materials. Further, it has low thermal inertia and low density, which helps in controlling the temperature present inside the insulating surface. These characteristics, along with its wide range of operating temperatures, have increased the application of ceramic fibers over other products in several industries.

Calcium silicate is the fastest growing segment with a CAGR of over 5.9% over the forecast period. Increasing industrialization in developing regions and government regulations are favoring the growth of high temperature insulation market, will augment the growth of calcium silicate in the forecast timespan. The demand for insulation on industrial grade piping and equipment is increasing across most of the developing economies.
 

In the countries such as China, and India, the manufacturing sector is one a fast growth path, creating a significant demand for calcium silicate insulation products in these countries. Increasing petroleum drilling activities globally are also giving an additional boost to the growth of high temperature insulation market.
 

The petrochemical is the most significant end user segment regarding both volume and revenue. This segment will cross USD 500 million in 2016. Rise in the petrochemical activities and expected growth in this industry is attributed to the growth of the market. Moreover, the growing demand for petrochemical products for wide range of applications is further giving a significant boost to the growth of this high temperature insulation market.
 

Increasing demand for these products, the producers had enhanced their production capacities which have led to the development of new manufacturing units that use high temperature insulation materials, owing to the growing concerns associated with energy savings and greenhouse gas emissions. Moreover, the ceramic industry is the fastest growing segment with a CAGR of over 5.5% over the forecast timeframe.
 

Asia Pacific is the dominant region regarding high temperature insulation market volume, which is primarily led by China and India. The regional growth was mainly driven by the increase in the industrial sector and the increasing consumption of high temperature insulation materials in emerging economies. Moreover, the market is expected to rise in countries, such as Australia, Japan, and others, over the forecast period due to increasing concern related to the optimized use of energy among the government bodies.
 

North America high temperature insulation market is exhibiting a significant growth across the globe over the forecast timeframe owing to innovation and investments in research and development of better products with the support of technology from the U.S. and Canada. Moreover, the increasing demand for high insulation product is due to stringent government regulation emphasizing on efficient of energy.