The new report by Expert Market Research titled, ‘High Temperature Insulation Global Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global high-temperature insulation market, assessing the market based on its segments like products, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 4.46 Billion
• Forecast CAGR (2023-2028): 6.5%
The increasing application of high-temperature insulation in the thermal and mechanical tests in the automotive industry is driving the market growth. Over the forecast period, the rapid development of automotive manufacturing facilities and increasing sales of passenger and commercial cars are anticipated to bolster the market growth.
Meanwhile, the rising demand for high-temperature insulation blankets in the petrochemical and oil and gas industry is further propelling the market growth. In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the strong foothold of major automotive and electronic equipment manufacturers. Moreover, the thriving oil and gas industry in the region due to the increasing demand for crude oil is anticipated to aid the market.
High Temperature Insulation Industry Definition and Major Segments
High-temperature insulation refers to the process of protection from extremely high temperatures in various sectors, which involve intense manufacturing operations. High-temperature insulation uses substances which have high a specific heat capacity and low thermal conductivity, which means they require more time to absorb and transfer heat, thereby, protecting the adjacent environment from damage.
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On the basis of product, the market can be segmented into:
• Ceramic Fibre
• Insulating Firebrick
• Calcium Silicate
The market can be broadly classified based on application into:
• Iron and Steel
• Powder Metallurgy
The regional markets for high-temperature insulation include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
High Temperature Insulation Market Trends
The key trends in the high-temperature insulation market include the increasing investments in the development of electronic equipment manufacturing plants owing to the increasing demand for consumer electronic due to the rising disposable income and rising standards of living. Meanwhile, the robust development of steel manufacturing plants, which is attributable to the increasing demand for steel from the building and construction sector is anticipated to propel the market growth in the coming years. Moreover, the market will further be aided by the anticipated increase in the sales of electric vehicles. Hence, these kinds of developments are likely to provide impetus to the market in the forecast period.
Key Market Players
The major players in the market are ADL Insulflex Inc., 3M Company, Almatis B.V., Dyson Energy Services Limited, Hi-Temp Insulation Inc., Insulcon Group, Isolite Insulating Products Co., Ltd., and Pacor, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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