High temperature insulation will reach the US$514 million global market in 2020

The global market for high temperature insulation is expected to reach US$514 million by 2020. According to a new study by Grand View Research, the growing demand to save energy in various industries and sectors is expected to become one of the driving factors for the market. In addition, strict regulations imposed on cement, oil and gas and metal producers to reduce greenhouse gas emissions also help to open up high-temperature insulation in the mainland market. However, the health risks associated with the carcinogenic content of high-temperature insulating materials have always been a key issue for the industry. In order to reduce dependence on synthetic insulating materials, the industry has shifted its focus to the development of bio-based alternatives to high-temperature materials. Petrochemical has become the most important application market for high-temperature insulation products and accounted for more than 30% of market revenue in 2012. To meet the needs, the increasing demand for various primary and secondary petrochemical products to save energy has promoted the growth of high-temperature insulation materials in the petrochemical industry. The global demand for HTI materials in the petrochemical industry is expected to grow from a compound annual growth rate of 8.6% in 2013 to 2020. However, powder metallurgy using HTI materials has also paid more and more attention to major manufacturers. In addition, new applications of HTI products in the aerospace, solar equipment and fire protection industries are also expected to increase their demand during the forecast period. As a leading product category, ceramic fiber accounted for approximately 60% of total market revenue in 2012. The shift in focus towards furnace linings and kiln replacement of asbestos is expected to drive the demand for ceramic fibers during the forecast period. Ceramic fiber is followed by some other high-temperature insulation products between heat-insulating refractory bricks and calcium silicate. Europe became the dominant market for high temperature insulation and accounted for 38% of total market revenue in 2012. Strict regulations to reduce greenhouse gas emissions in Europe are expected to become a key driver of the regional market. The European market demand for HTI products mainly depends on imports from Asia. Europe, followed by North America and Asia-Pacific market demand. The North American and European markets have reached saturation with HTI products and are expected to grow at relatively low interest rates. On the other hand, the Asia-Pacific region and Latin America have huge growth opportunities due to the growth of industrialized China, India and Brazil in the near future. The high temperature of the Asia-Pacific market is expected to grow at a compound annual growth rate of 9.2% from 2013 to 2020. In terms of production, the Asia Pacific region became a clear leader and accounted for 48% of total production in 2012. Coupled with low manufacturing costs and loose regulations are expected to stimulate the production of high-temperature insulation materials in the region. The Asia-Pacific region exports most of its produced HTI materials to European and North American countries. The global high-temperature insulation market is dominated by two companies, Thermal Ceramics and Unifrax, which together accounted for more than one-third of the market share in 2012. Some other companies operating in the global high-temperature insulation market include ZIRCAR, Ruike, ISOLITE, Skamol, Baoquan and SAFFIL.