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High Temperature Insulation Market 2023 - Market Size, Share, Trend Analysis, Segmentation And Forecast To 2032
High Temperature Insulation Market Analysis
The Business Research Company's High Temperature Insulation Global Market Report 2023 identifies increase in use of petrochemical products as the major driver for the high temperature insulation market's growth in the forecast period. A petrochemical is any chemical obtained from crude oil or natural gas and used for a wide range of commercial purposes. High-temperature insulation is used in the petrochemical industry as it stops the transfer of heat, safeguarding materials and components near a heat source and lowering the energy needed to reach desired temperatures.
The global high temperature insulation market size is expected to grow from $5.76 billion in 2022 to $6.18 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The high temperature insulation market size is expected to grow to $8.03 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the high temperature insulation market are Morgan Advanced Materials Plc, Pyrotek Inc., 3M Company, Unifrax LLC, Hi-Temp Insulation Inc., Insulcon Group, Isolite Insulating Products Company Limited.
A key trend in the high temperature insulation market includes technological advancement. Major companies operating in the market are focusing on advanced technologies to strengthen their position in the high-temperature insulation market. For instance, in January 2021, Johns Manville Corporation, a US-based company that manufactures insulation materials and engineered products, introduced JM Corbond IV closed-cell spray polyurethane foam with HFO technology to their product line of insulation materials. JM Corbond IV is a closed-cell spray foam of the fourth generation made with a HydroFluoro-Olefin (HFO) blowing agent. Its unique features such as high yield, great thermal and moisture performance, and exceptional adhesion, make it the perfect option for high-performing, energy-efficient structures.
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The high temperature insulation market is segmented -
1) By Product Type: Insulating Firebrick, Ceramic Fiber, Calcium Silicate
2) By Temperature Range: Temperature Range 600-1,100 C, Temperature Range 1100-1500 C, Temperature Range 1,500-1,700 C, Temperature Range 1,700 C and Above
3) By Application: Petrochemicals, Glass, Aluminium, Iron And Steel, Cement, Refractory, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the high temperature insulation market.
The Business Research Company's "Global High Temperature Insulation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The High Temperature Insulation Market Include:
1. Executive Summary
2. High Temperature Insulation Market Characteristics
3. High Temperature Insulation Market Trends And Strategies
4. High Temperature Insulation Market - Macro Economic Scenario
5. High Temperature Insulation Market Size And Growth
……
26. Africa High Temperature Insulation Market
27. High Temperature Insulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The High Temperature Insulation Market
29. High Temperature Insulation Market Future Outlook and Potential Analysis
30. Appendix
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