Industry Outlook and Trend Analysis
The global High Temperature Insulation market was worth USD 2.89 billion in the year 2012 and is expected to reach approximately USD 6.90 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 9.10% during the forecast period. High temperature insulation items are materials utilized as a part of utilizations requiring high temperatures crosswise over different end-use enterprises. New developing utilizations of high temperature protection incorporate fire protection and aerospace. Developing need to preserve energy crosswise over different businesses is relied upon to be a key driver for the market. Furthermore, stringent controls forced on oil & gas, metal and cement makers to decrease nursery outflows has likewise significantly affected creating market demand. Also, these items can be made accessible as castables, insulating bricks, blankets, and boards, which can be adjusted for use in kilns, furnaces, and kiln cars. This adaptable nature of HTI items is required to positively affect item acknowledgment throughout the following years. Nonetheless, the carcinogenic content in high temperature insulation materials is anticipated to be a major challenge for the market players. Insulation materials have inorganic compounds like silica and alumina that are carcinogenic in nature and supposedly cause respiratory and skin problems. Additionally, thermal properties of HTI items erode with time, with constant exposure to heat that leads to shrinkage and leakage of heat. Due to this the life expectancy of the products is affected and may become up to two or three years. Replacements that are frequent and that increase the price are said to be a major issue for the market in the following years. To decrease the dependence on synthetic insulation materials, industries have moved their aim towards creating substitutes that are bio-based for high temperature materials.
Product Outlook and Trend Analysis
The major product sections in the market are calcium silicate, ceramic fiber, insulating firebricks and others. The most utilized material for high temperature insulation is ceramic fiber that accounted for 62 percent of share of the overall market in 2012. Some of the outstanding features that have made ceramic fiber prominent for a number application are high tensile strength, high resistance to temperature and enhanced flexibility. Ceramic blankets and boards are majorly utilized for ship building for general heat containment as lagging as well as to stop the fire from spreading. Insulating firebricks (IFBs) are light-weight and soft materials that are composed of ferric oxide (1.6%), alumina (37%) and silica (61.1%). They have less thermal conductivity and are particularly constructed for applications of heat containment in the manufacturing of aluminum and ceramic. In 2012 the overall demand for insulating firebricks was valued 119.8 kilo tons and is anticipated to witness significant growth in the upcoming years. Insulating firebricks also render protection from electrical shock and help in reduction of cost through furnace linings that are thinner in contrast to other insulation materials.
Application Outlook and Trend Analysis
Major application sections for high temperature insulation include metallurgy, ceramics, steel, cement, petrochemicals, and refractory, glass and aluminum industries. The largest application segment was the petrochemical industry that accounted for 33.8 percent of the total market in 2012. In 2013 the worldwide petrochemical industry was valued more than USD 3 trillion. Ceramic material production needs heat treatment in kilns; where temperatures can go up to 12000 C. Major HTI items utilized as a part of the business incorporate ceramic fibers for low-mass kiln and refractory or ceramic kilns car applications, where they limit any probability of warmth misfortune through furnace dividers and guarantee the security of operation. Worldwide HTI market profits from the ceramic business were evaluated to be USD 345.1 million in 2012. On an average, 5 to 6 kilos of HTI items are required for the generation of 1 metric ton of powder metallurgy items including aerospace and automotive wear parts, engine parts, cutting tools, gears, magnets, filters, bearings and pump parts. HTI empowers proficient temperature control while guaranteeing insignificant pollutions; HTI item demand for powder metallurgy applications is anticipated to increase significantly in the upcoming years.
Regional Outlook and Trend Analysis
The biggest consumer of high temperature insulation items was Asia Pacific that registered for more than 48 percent of the total volume in 2013. Nonetheless, on the basis of revenue, the area represented just 21% of the worldwide market, attributable to the huge value distinction with the European and United States markets. Asia Pacific HTI material expenses are relied upon to stay low because of generally low vitality cost and cost of crude materials, for example, calcium, silica, alumina and magnesium. In 2012 the Asia Pacific ceramic market was valued USD 376.3 million and is anticipated to witness significant growth in the following years. Ceramics and Petrochemicals production were the most leading application portions in the Asia Pacific HTI market, representing 46 percent of aggregate regional HTI volume in 2012. North America and Europe offer huge open doors for HTI market members, by virtue of positive administrative situation and motivators offered for vitality protection and manageability. European requirement for HTI items is relied upon to grow on a tremendous pace in the upcoming years. Despite the fact that there are more than 100 organizations obliging the European market, a significant part of the territorial request is still met by Chinese providers because of focused costs offered by them. North America HTI market profit was evaluated to be USD 953.7 million in 2012, with United States being the prevailing regional market, representing more than 80 percent of the aggregate demand.
Some of the major players operating in the market are Isolite Systems, Murugappa Morgan Thermal Ceramics Limited, Skamol A/S, Zircar, Unifrax and Promat International. The worldwide high temperature insulation market is genuinely focused, with the best four market members representing 46% of the worldwide demand in 2012.There are various regional members over the business, particularly in China, which has brought about extreme price affectability. Organizations are taking a gander at long haul understandings and joint efforts to counter this danger and support share of the market.
The global high temperature insulation market is segmented as follows-
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?