Press release
Global High Temperature Insulation Market Trend Demand Will Cross USD 5.16 Billion Mark by 2022
Market Research Future
Global High-Temperature Insulation Market is poised to reach USD 5.16 billion by 2022 and is expected to grow at the CAGR of 11.4 %.
One of the major driving force for the market is the increasing importance of energy conservation in various industries. Moreover stringent regulation imposed on metal, cement, oil & gas industry for reducing greenhouse gas emission has further increased the industry growth. However, carcinogenic content in high temperature insulation material is hardeous to health thus, is expected to have an adverse impact on growth of the high temperature insulation market. Petrochemical application has a share of or more than 35% in the growth of this market with respect to contributing in the market profit in 2015. Rising demand of petrochemicals along with the need for energy conservation is most likely to propel demand for high temperature insulation material in the petrochemical industry.
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Market Highlights:
Globally, High Temperature Insulation (HTI) is utilized temperature intensive application for minimizing heat transfer, reducing greenhouse gas emission and overall contributing in reducing global warming . Strong energy codes and utility savings are major market drivers for the insulation industry.
On the other handnew residential construction are an obstruction for the growth of glass fiber, mineral wool, and cellulose industry while replacement/retrofit segment provides a boost to the polystyrene and polyisocyanurate industry.
However, carcinogenic content in high-temperature insulation material stands out as a threat to health thus, is expected to have an adverse impact on growth. Petrochemical application accounted for more than 35% of the market revenue in 2015. Rising demand for petrochemicals along with need for energy conservation is likely to increase demand for products in the petrochemical industry.
Scope of the Study:
The scope of the study categorizes the High Temperature Insulation market as type, and application.
•By Type
Ceramic Fiber
Insulating Firebrick
Calcium Silicateand
Others
•By Application
Petrochemicals
Iron & Steel
Glass
Others
Key Player:
ADL Insulflex Inc,
Almatic GmbH,
Hi-Temp Insulation Inc.,
Insulcon Group,
Isolite Insulating Products Company Ltd,
Promat International NV,
Pacor Inc.,
Dyson Group,
Cellaris Ltd.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meeting with the industry experts and industrial visits for its research analyst members.
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