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High Temperature Insulation Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
High Temperature Insulation Market Size
As per the report, the high temperature insulation market size has grown strongly in recent years. It will grow from $6.14 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The high temperature insulation market size is expected to see strong growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
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High-Temperature Insulation Market Surges As Petrochemical Product Demand Continues To Rise
The increasing use of petrochemical products is expected to propel the growth of the high-temperature insulation market going forward. 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. For example, according to the U.S. Energy Information Administration a statistical agency, in the first half of 2022, exports of U.S. petroleum products grew by 11%, equivalent to an increase of 596,000 barrels per day (b/d), when compared to the same period in 2021. Moreover, petrochemical fuels like naphtha, LPG, and ethane will account for half of total oil product demand growth from 2019 to 25 or 490 kb/d on average across the world. Therefore, the increasing use of petrochemical products is driving the growth of the high-temperature insulation market.
High-Temperature Insulation Market Advances With Cutting-Edge Technologies
Technological advancements are a key trend gaining popularity in the high-temperature insulation market. 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.
The high temperature insulation market covered in this report 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
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Major companies operating in the high temperature insulation market report are Morgan Advanced Materials Plc, Pyrotek Inc., 3M Company, Unifrax LLC, Hi-Temp Insulation Inc., Insulcon Group, Isolite Insulating Products Company Limited, Rath Group, Promat International NV, Mitsubishi Plastics Inc., Luyang Energy-Saving Materials Company Limited, Aspen Aerogels Inc., Zircar Zirconia Inc, ADL Insulflex Inc., Almatis GmbH, Pacor Inc., SCHUPP Industriekeramik GmbH, Promat UK Ltd., Knauf Insulation, Nutec, RHI Magnesita, ETEX Group, Calderys, Unifrax, Almatis, Johns Manville, Saint-Gobain, Owens Corning, Rockwool International A/S, Thermal Ceramics, Shandong Luyang Share Co. Ltd.
Contents of the report:
1. Executive Summary
2. High Temperature Insulation Market Report Structure
3. High Temperature Insulation Market Trends And Strategies
4. High Temperature Insulation Market - Macro Economic Scenario
5. High Temperature Insulation Market Size And Growth
…..
27. High Temperature Insulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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