High Temperature Insulation Materials Market Analysis
High Temperature Insulation Materials Market - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
The global high temperature insulation materials market size is expected to witness potential gains in the future, and register a significant CAGR of 8.2% over the forecast period (2019 - 2027), to reach US$ 8.2 billion by 2027.
High temperature insulation materials find application in industries that involve processes operating at temperatures above 600 degree C. Some of the applications include, refractory, petrochemicals, iron and steel, ceramics, glass, cement, powder metallurgy, and aluminum. Ceramic fibers, insulating firebricks, and calcium silicate are key high temperature insulation materials used in various processes and applications such as appliances, HVAC, investment casting, wood heat, refractory contractors, marine, heat treat, and fuel cell.
Increasing focus of various industries on energy conservation is expected to boost growth of the global high temperature insulation materials market. Moreover, stringent government regulations to mitigate greenhouse gas emission is also expected to contribute to the market growth. Various industries focus on emission control and fire protection by using high temperature insulation materials. Fiberlgass is used for both hot and cold side insulation in the temperature range 600 degree F to 1,000 degree F. Ceramic is used for the temperature range 1800 degree F to 2200 degree F.
Key players in the market are also focused on research and development of novel materials for higher thermal resistance and lower operational costs. This is expected to aid market players to boost their market share, thereby aiding in overall market growth.
However, stringent regulations concerning the use of ceramic fibers, owing to their carcinogenic nature is expected to restrain growth of the high temperature insulation market.
Among products, ceramic fibers are expected to gain major traction, owing to their low density, low thermal inertia, and low thermal conductivity. Among regions, Asia Pacific is projected to be the fastest growing market over the forecast period. This is owing to significant growth of several industries that require high temperature insulation materials for various applications. Petrochemicals is a major end-use industry in the market. Therefore, Middle East is expected witness significant growth in the market, owing to presence of major petrochemical industries in the region. The market in Europe is also driven by presence of large number of petrochemical industries in Western Europe. Stringent EU regulation regarding energy conservation is also expected to boost the market growth.
Major players operating in the global high temperature insulation materials market include, Pyrotek Incorporated, Promat GmbH, Shangdong Luyang Co. Ltd., Unifrax LLC, Morgan Thermal Ceramics, Isolite Insulating Products Co. Ltd., BNZ Materials Inc., and Skamol.