The latest report by IMARC Group, titled “High Temperature Insulation Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global high temperature insulation materials market reached a value of US$ 5.1 Billion in 2021. A high temperature insulation (HTI) material slows down the flow of heat energy by reducing heat loss or gain from pipework, equipment, and vessels. It also provides accurate control of process temperatures, prevents condensation on cold surfaces and corrosion, and protects the equipment. Nowadays, HTI materials are available in different shapes and forms, including rolls, slabs, and pipe sections. In recent years, the demand for HTI materials has escalated as they offer improved performance, reliability, and safety.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global High Temperature Insulation Materials Market Trends:
The global high-temperature insulation material market is driven by the rising environmental concerns among individuals. In addition, rapid industrialization has resulted in the adoption of customizable HTI materials, especially in emerging economies. Besides this, the imposition of strict environmental protection regulations by the governments of various countries has promoted the utilization of HTI materials in the cement manufacturing, oil and gas, and metal-producing sectors to curb greenhouse gas (GHG) emissions and reduce the carbon footprints. As a result, several manufacturers are introducing recyclable and reusable bio-based HTI materials made from seagrass, cellulose flakes, hemp mats, and sheep wool. Moreover, they are also extensively investing in research and development (R&D) activities to reduce the cost of production and increase the thermal resistance of the materials. Looking forward, the market is expected to grow at a CAGR of
8.52% during the forecast period (2022-2027).
- Based on the material type, the market has been segmented into ceramic fibers, insulating firebricks, calcium silicate, and others.
- On the basis of the temperature range, the market has been classified into 6000°C-11000°C (1112°F-2012°F), 11000°C-15000°C (2012°F-2732°F), 15000°C-17000°C (2732°F-3092°F), and 17000°C and above (3092°F).
- The market has been categorized based on the end-use industry into petrochemical, ceramic, glass, aluminum, iron and steel, cement, refractory, powder metallurgy, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being 3M Company, ADL Insulflex Inc., Almatis B.V., BNZ Materials, Dysons Limited, Insulcon B.V., Isolite Insulating Products Co. Limited, M.E. Schupp Industriekeramik GmbH, Mitsubishi Chemical Holdings Corporation, Morgan Advanced Materials Plc, Pacor Inc., Promat International, Pyrotek Inc., RHI Magnesita N.V., Skamol Group, and Unifrax Corporation.
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