High Temperature Insulation (HTI) Materials Market to grow by USD 2.82 billion from 2022 to 2027

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22 Aug, 2023, 11:30 ET

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NEW YORK, Aug. 22, 2023 /PRNewswire/ -- The high temperature insulation (HTI) materials market size is set to grow by USD 2,827.85 million from 2022 to 2027 and register a CAGR of 8.2%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report

The report also covers the following areas:

Factors such as the increasing use of ceramic, Increasing demand for aluminium, and expansion of steel production capacity will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The high temperature insulation (HTI) materials market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

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High Temperature Insulation (HTI) Materials Market 2023-2027: Segmentation

The petrochemicals sector segment is estimated to witness significant growth during the forecast period. High-temperature insulation (HTI) materials find extensive utilization in diverse sectors such as oil and gas refractories and chemical-processing refractories. These industries necessitate materials capable of withstanding elevated temperatures. Consequently, the expansion of the oil and gas and chemical sectors holds pivotal significance in propelling the demand for HTI materials within the refractories application. The growth of HTI materials within the oil and gas industry is notably driven by their capacity to cater to high-temperature requirements inherent to the sector. Additionally, HTI materials are harnessed in various petrochemical applications, including cracked gas dryers, desulfurization units, and oxidation reactors. The broad spectrum of these applications is poised to underdrive pin the global growth of the high-temperature insulation (HTI) materials market during the forecast period.

Some of the major vendors of the high temperature insulation (HTI) materials market in the l4 industry include 3M Co., Almatis BV, Armacell International SA, Aspen Aerogels Inc., CARCO PRECISION RUBBER PRODUCTS S.P.A, Etex NV, Firwin Corp., Hi Temp Insulation Inc., IPCOM NV, James Walker Group Ltd., Luyang Energy saving Materials Co. Ltd., M.E. SCHUPP INDUSTRIEKERAMIK GMBH, Morgan Advanced Materials Plc, Owens Corning, Pyrotek Inc., Rath Aktiengesellschaft, RHI Magnesita GmbH, Shinagawa Refractories Co. Ltd., Unifrax I LLC, and Mitsubishi Heavy Industries Ltd.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.

Company Offerings

Market dynamics

Key Driver

The expansion of steel production capacity is notably driving market growth.

Major Trends

The increasing adoption of eco-friendly HTI materials is an emerging market trend. The growth of HTI materials is significantly spurred by the increasing transition from conventional construction methods to drywall construction within the construction industry. Notably, numerous players within the global HTI materials market are progressively embracing the production of environmentally friendly options, like calcium silicate boards, to align with the construction of sustainable buildings. This trend is exemplified by the heightened focus on manufacturing 100% non-asbestos calcium silicate boards aimed at mitigating the production of harmful radiation and toxic gases. These boards offer additional attributes, including termite and insect resistance, high strength, lightweight nature, and anti-corrosive properties. As a result, these elements are anticipated to propel the growth of the global high-temperature insulation (HTI) materials market during the forecast period.

Significant Challenges

Regulatory measures pertaining to adverse effects of HTI materials exposure are the key challenges hindering market growth.

High Temperature Insulation (HTI) Materials Market 2023-2027: Key Highlights

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High Temperature Insulation (HTI) Materials Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.2%

Market growth 2023-2027

USD 2,827.85 million

Market structure

Fragmented

YoY growth 2022-2023(%)

7.75

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 37%

Key countries

US, China, Japan, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Almatis BV, Armacell International SA, Aspen Aerogels Inc., CARCO PRECISION RUBBER PRODUCTS S.P.A, Etex NV, Firwin Corp., Hi Temp Insulation Inc., IPCOM NV, James Walker Group Ltd., Luyang Energy saving Materials Co. Ltd., M.E. SCHUPP INDUSTRIEKERAMIK GMBH, Morgan Advanced Materials Plc, Owens Corning, Pyrotek Inc., Rath Aktiengesellschaft, RHI Magnesita GmbH, Shinagawa Refractories Co. Ltd., Unifrax I LLC, and Mitsubishi Heavy Industries Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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SOURCE Technavio