High Temperature Insulation Materials Market worth $8.9 billion by 2024 | Key players Morgan Advanced Materials (UK), Luyang Energy-Saving Materials (China), RHI Magnesita (Austria), ETEX (Belgium).

According to recent market research the "High Temperature Insulation Materials Market by Material Type (Ceramic Fibers, Insulating Firebricks, Calcium Silicate), End-use Industry (Petrochemical, Ceramic, Glass), Temperature Range, and Region - Global Forecast to 2024", is expected to grow from USD 6.0 billion in 2019 to USD 8.9 billion by 2024, at a CAGR of 8.2% during the forecast period. The major factors driving the high temperature insulation materials market include the need for energy-saving materials to lower manufacturing cost and reduce emission levels, and their high demand in different end-use industries, such as petrochemical, ceramic, glass, aluminum, iron & steel, cement, refractory, and powder metallurgy.

Browse 127 market data Tables and 56 Figures spread through 164 Pages and in-depth TOC on "High Temperature Insulation Materials Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/high-temperature-insulation-market-710.html

The high temperature insulation materials market has been segmented based on material type into ceramic fibers, insulating firebricks, calcium silicate, and others. Among these types, the ceramic fibers segment accounted for the largest share of the market in 2018 and is likely to witness significant growth during the forecast period. The market growth in this segment is attributed to their superior properties, which include low weight and flexibility, and their ability to largely reduce the emission level due to their excellent chemical stability at high temperatures.

The temperature range of 600°C-1100°C (1112°F-2012°F) is estimated to be the largest segment of the market because all the insulation materials (ceramic fibers, insulating firebricks, calcium silicate, and perlite, vermiculite, and microporous materials) are used in this temperature range.
The petrochemical industry is growing rapidly due to an increase in the production of oil in various countries. The increase in the production of petrochemicals has resulted in the growing demand for high temperature insulation materials. Petrochemical prices are directly interlinked with energy costs, and the use of high temperature insulation materials is important for controlling greenhouse emissions and saving manufacturing costs. The key applications of high temperature insulation materials in the industry include the insulation of pipelines, heat processors, reformers, and thermal crackers.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=710

APAC is estimated to be the largest as well as the fastest-growing market for high temperature insulation materials. The growth is attributed to the development of end-use industries, such as petrochemical, ceramic, and glass, in the emerging economies of China and India. Rising population and urbanization, along with the growing concerns related to emission control, are some of the factors that are expected to drive the market in the region during the forecast period. Moreover, several high temperature insulation materials manufacturers, such as RHI Magnesita, ETEX, and Calderys, are investing and expanding their manufacturing facilities in this region to cater to the high demand from end-use industries.

Morgan Advanced Materials (UK), Luyang Energy-Saving Materials (China), RHI Magnesita (Austria), ETEX (Belgium), Calderys (France), Unifrax (US), and Almatis (Netherlands) are the leading market players globally.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=710

Morgan Advanced Materials (US) is one of the leading players in the market. The company has been focusing on organic strategies, such as expansion and new product development, to maintain its leading position in the market. For example, in October 2019, Morgan Thermal Ceramics (thermal ceramics business segment of Morgan Advanced Materials PLC, UK) launched Superwool XT RA, which is an alkali metal silicate fiber. Superwool XT RA delivers the performance of refractory ceramic fiber (RCF) without EHS (environmental, health, and safety) concerns. Superwool XT RA does not form crystalline silica when exposed to high temperatures, which helps in maintaining the heat resistance capacity of the furnace. It is available in different forms, such as blankets, pyro-stack modules, paper, and unifelt. This new product launch is expected to drive the demand for high temperature insulation materials in petrochemical, ceramic, iron & steel, power, and other industries.

Luyang Energy-Saving Materials (China) is one of the major players in the market. In October 2015, the company launched six products: alumina fiber blanket, composite module, backing board, soluble fiber blanket, chrome ceramic fiber blanket, and insulating firebrick, which are at par with internationally accepted standards of high temperature insulation materials. These products are used in major regions, such as APAC, Europe, and the Americas.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/high-temperature-insulation.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/high-temperature-insulation-market.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.