High Temperature Insulation Materials Market worth $5.1 Billion by 2019, According to the New Study on ASDReports

Wednesday 5 November 2014, Amsterdam

Asia-Pacific is the key market for HTI

Asia-Pacific, North America, and Europe dominated the HTI market in 2013 and accounted for nearly 84.8% of the market, by volume and 89.5% market by value. Region-wise, Asia-Pacific is the top consumer of HTI products globally, and is also the largest market by volume for HTI products registering a CAGR higher than the global average till 2019. Europe is the second-largest HTI consumer in the world. However South America is expected to grow fastest in terms of volume and value at a CAGR of 10.9% and 11.2% respectively till 2019. Diverse end-use markets range from petrochemicals, ceramics, glass, aluminum, cement, iron & steel, refractory, powder metallurgy and others. Growing GDP in the emerging region, rapid pace of industrialization, growing production and industrial bases, increased necessity to save energy and reduce greenhouse emissions remain key growth driving forces in the post-recession period. Future growth in the international market hinges heavily onto developing economies in Asia-Pacific, South America, Middle East and Africa. The ensuing increase in foreign investments and rise in the number of new manufacturing establishments will witness Asia-Pacific emerge into a prime driver of growth.

“Petrochemicals is the topmost application segment, and ceramic fibers dominates as the key type in the HTI market”

Petrochemicals take the topmost positions in the HTI market with around 29.4% share by value in 2013. The fastest growth rate till 2019 in the HTI market is projected to come from others industries, which includes automotive, aerospace, fire protection and solar application. The newer applications in the fire protection, automotive, and aerospace industries are expected to benefit HTI market over the next five years. Ceramic fibers dominate the HTI market by type, in terms of volume and value. Petrochemicals industry mostly uses ceramic fibers for insulation.