High Temperature Insulation Market To Be Driven By Rising Demand For Petrochemicals Till 2020: Grand View Research, inc.

Global high-temperature insulation market is poised to reach USD 5.14 billion by 2020. Increasing emphasis on energy conservation across various industries is projected to be one of the major driving forces for the market

Global high-temperature insulation market is poised to reach USD 5.14 billion by 2020. Increasing emphasis on energy conservation across various industries is projected to be one of the major driving forces for the market. Moreover, stringent regulation imposed on metal, cement, and oil & gas to reduce greenhouse gas emission has further augmented the industry growth. However, the carcinogenic content in high-temperature insulation material pose high risk to health, thus is expected to have an adverse impact on growth

Petrochemical application accounted for more than 30% of the market by revenue in 2013. Rising demand for petrochemicals along with the need towards energy conservation is likely to propel demand for the product in the petrochemical industry. Furthermore, stringent regulations emphasizing on workplace safety is expected to impact growth positively.

Global HTI products volume, by application, 2012
Browse full research report on High Temperature Insulation Market: http://www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry

Demand for HTI materials in petrochemical industry is expected to grow at a CAGR of more than 6% over the forecast period. HTI is also gaining popularity among the powder metallurgy manufacturers. Also, industries such as aerospace, solar equipment, and fire protection industries are also projected to augment the demand for HTI over the forecast period.

Ceramic fibers accounted for more than 57% market by revenue in 2013. Rising trends related to replacing asbestos lining in furnaces and kilns with ceramic fibers is expected to augment market demand over the projected period.

Europe accounted for more than 35% market revenue in 2012. Stringent regulations to reduce GHC emission in Europe are expected to be a key driving factor for the regional market. The demand for HTI product in Europe is primarily dependent on imports from Asia. North America and Asia Pacific also contributed to the significant demand for HTI over the forecast period. Positive regulatory scenario related to improving workplace safety is expected to propel demand over the projected period.

However, European and North American markets have reached saturation and supposed to grow at a sluggish rate. In contrast, Latin America and Asia Pacific region are poised to witness substantial growth owing to rapid industrialization in Brazil, China, and India. Asia Pacific region is poised to grow at a CAGR of more than 8.5% over the forecast period.

Asia Pacific accounted for more than 46% of total production in 2012. Support from the government along with low manufacturing cost is expected to boost production of HTI materials in the region. Asia Pacific exports the majority of the HTI material manufactured in the region to North America and Europe.

Some of the major players in HTI market are Isolite, Skamol, Promat, Zircar, and Pyrotek. Thermal Ceramics and Unifrax dominate the global HTI market. Thermal Ceramics and Unifrax together accounted for over one-third of the total industry in 2012.

About Grand View Research, Inc:

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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com

Contact Details

Company Name: Grand View Research
Issued By: Sherry James
Phone: 1-415- 349-0058
Address: Grand View Research, Inc. 201 Spear St #1100, Suite #3036 San Francisco, CA 94105
City: San Francisco
State: CA
Zip: 94105
Country: United States
Website: Visit the website

Keywords : High Temperature Insulation Market, High Temperature Insulation Market Size, High Temperature Insulation Market Share, High Temperature Insulation Market Trends, High Temperature Insulation Market Analysis.,

by Sherry James (few months ago!)

Latest Press Releases

Heart Health Products Market Key Players, Size, Share, Demand and Research Report 2022

Latest information about Ugc Net Jrf Exam

Equity Research Report Ways2Capital 26 March 2018

Peeling and Dry Male Organ Skin: What it Means

Dudhsagar waterfalls Tour Open for Tourist in 2018

Global Virtual Reality Market by Product Type, by Manufacturing Process: Global Trend Analysi..

Viscosupplementation Market is projected to register a healthy CAGR of 5.1% during 2016-2026.

Dr. Dror Paley Expands His Team at the Paley Orthopedic & Spine Institute

Asia Pacific Congress on Probiotics, Prebiotics and Nutrition

Agricultural Biotechnology Market by Type and Size Industry Report 2016–2021

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.