The global high-temperature insulation (HTI) materials market is projected to grow at a compound annual growth rate (CAGR) of 6.8% from 2014 to reach $5.1 billion in 2019, according to a recent report by Research and Markets entitled “High-Temperature Insulation Materials Market by Type, by Temperature, by End User—Global Trends & Forecast to 2019.” HTI materials are used in several end-user industries to prevent heat loss, energy consumption and reduce greenhouse gas emissions. The HTI market can be classified into three segments: ceramic fibers, insulating fire brick (IFB) and others (e.g., calcium silicate boards and polycrystalline alumina fibers). The “others” HTI segment is the fastest-growing segment and is used mostly in end-user industries such as aerospace, automotive, fire protection and solar applications.
The petrochemicals end-user industry is the biggest consumer of HTI products and is expected to drive the HTI market. However, the “others: end-user segment (consisting of industries such as aerospace, automotive, fire protection and solar applications) is expected to be the fastest growing end-user segment. The increasing need for energy savings to cut down manufacturing costs and environmental concerns over greenhouse emissions are the major driving factors for the HTI industry.
South America is expected to witness high growth rates during the forecast period (2014-2019), followed by Africa and the Middle East. The HTI market in Europe and North America is maturing and expected to witness below-average growth during the forecast period. The HTI market in Asia-Pacific is growing mainly due to industrialization in emerging economies such as India and China. The HTI industry is witnessing a shift in the manufacturing base from the Western region to Asia-Pacific due to the low cost advantage in terms of labor and raw materials. Another important factor for the shift in manufacturing base is the stringent regulations in the Western region over the production of ceramic fibers.
Asia-Pacific dominated the HTI market, followed by Europe in terms of volume. Asia-Pacific is the largest market for HTI owing to the high demand of HTI materials due to increasing number of end-user industries in the region.