High Temperature Insulation Market Outlook On The Basis Of Product (Ceramic Fiber, Insulating Firebrick, Calcium Silicate), By Application, By Region, And Segment Forecasts, 2022 - 2030

 

San Francisco, 31January 2024: The Report High Temperature Insulation Market Size, Share & Trends Analysis Report By Product (Ceramic Fiber, Insulating Firebrick, Calcium Silicate), By Application, By Region, And Segment Forecasts, 2022 - 2030

The global high temperature insulation market size is expected to reach USD 10.57 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.8% from 2022 to 2030. This growth can be attributed to the imposing of regulations related to the reduction of greenhouse gas emissions on the metal producing, cement, and oil and gas industries.

High-temperature insulation products are increasingly utilized across various application industries including petrochemicals, cement, ceramics, and iron and steel for energy-efficient operations. Increasing demand for customized high-temperature insulation products across the above-mentioned application industries is expected to upscale the demand over the forecast period.

Industrial up-gradation and enhancement of existing and new facilities are subject to an increase in the demand for insulation products. Furthermore, increasing number of facilities incorporating heat treatment and relative operations are likely to upscale the demand for high-temperature insulation products in the forecast period.

The product manufacturers enter into long-term contracts with raw material suppliers to avoid the effect of volatility on raw material prices. Furthermore, the industry participants are engaged in research & development in order to launch energy-efficient solutions and implement strategies to promote the adoption of these products.

The market is expected to be driven by increasing environmental concerns, which have led to the imposition of strict environment-protection regulations by governments across the globe.

Growing awareness regarding the benefits of high-temperature insulation, including resistance to high temperatures and thermal shocks, low thermal conductivity, environmental benefits, and cost efficiency, is also likely to propel the market growth over the forecast period. In addition, insulation can protect equipment and help achieve extremely high or low temperatures with reduced accident risks.

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The market for high temperature insulation in the U.S. is expected to grow significantly over the forecast period owing to high significant investments by the government and companies to increase the manufacturing rate and production capacities in various industries such as cement, iron and steel, glass, and ceramics.

 

The market is likely to grow substantially with the increasing demand for customized high-temperature insulation products across application industries including cement, petrochemicals, ceramics, iron and steel, aluminum, and powder metallurgy. Furthermore, prominent players in the industry are aiming to achieve optimum growth by introducing enhanced insulation products with the implementation of the latest technologies.

High Temperature Insulation Market Report Highlights

• By product, ceramic fiber accounted for the largest revenue share of over 60.0% in 2021. This increase in demand can be attributed to its ability to withstand high temperature and thermal shock resistance
• The product demand was hampered owing to the global outbreak of the COVID pandemic in 2020. Governments in major economies such as the U.S., India, South Korea, the U.K., Germany, and Italy imposed restrictions on several ongoing construction projects to prevent transmission of the virus
• The petrochemicals application segment held the largest revenue share of over 35.0% in 2021 owing to the extensive usage of insulation materials in a variety of applications and settings in petrochemical plants. The plant includes the prevention of heat transfer during material handling and transport through process pipes
• Europe dominated the market with a revenue share of over 35.0% in 2021. This can be attributed to the growing trend of industrialization in the region, coupled with various initiatives by the European Union (EU) for increasing the energy efficiency of the industries
• The global market exhibits a significant presence of various national and multinational companies, leading to intense competition among the players. These players adopt organic growth strategies to maintain their market position and have a competitive advantage over other players 

The COVID-19 situation across the globe has posed a challenging factor to the market. High-temperature insulation product manufacturers provide customized solutions to end-users in order to meet their exact requirements; however, production has been impacted owing to the suspension of industrial operations. However, the industrial operations are regaining their positions for production, and thus are anticipated to upscale the demand for insulation products in their respective facilities.

The ceramic fiber segment held the largest revenue share of over 60.0% in 2021. Ceramic fiber is used as an insulating material owing to its ability to withstand high temperature and thermal shock resistance. These fibers are primarily used as refractory materials to work at a temperature between 1000ºC and 1400ºC. Ceramic fiber is found in the form of bulk fibers, blankets, felts, paper, textiles, and vacuum formed or cast-shaped.

Insulating firebrick was the second-largest product segment in terms of both revenue and volume in 2021. The growing demand for insulating bricks is attributed to their numerous applications in the iron and steel industry including ductwork in direct reduction processes and reheat furnaces, blast furnace stoves, coke oven backup insulation, ladles, and tundishes.

High Temperature Insulation Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 6.65 billion
Revenue forecast in 2030	USD 10.57 billion
Growth rate	CAGR of 5.8% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030

The petrochemicals application segment accounted for the largest revenue share of over 35.0% in 2021. The growth of the segment can be attributed to the extensive usage of insulation materials in a variety of applications and settings in petrochemical plants.

High-temperature insulation materials made from ceramics provide high-dimensional stability and a temperature-controlled environment in various applications. Increasing use of products in thermal applications such as thermocouple protection tubes, furnace tubes, insulators, crucibles, kiln furniture, furnace fittings, nozzles, filters, and batts is expected to propel the demand for ceramics over the forecast period.

List of Key Players of High Temperature Insulation Market

• 3M Company
• ADL Insulflex Inc.
• Zircar Zirconia, Inc.
• Unifrax LLC
• Morgan Advanced Materials
• Almatis GmbH
• Rath Group
• Aspen Aerogels, Inc.
• Hi-Temp Insulation, Inc.
• Insulcon Group
• Isolite Insulating Products Co., Ltd.
• Pacor Inc.
• Promat International NV
• Pyrotek
• M.E. SCHUPP Industriekeramik GmbH