The global high temperature insulation market is expected to gain traction owing to simultaneous growth in manufacturing and industrial production sector.
High temperature insulation material prevents transfer of heat at extremely high temperatures while protecting adjacent materials from heat damage. High temperature insulation materials offer low thermal conductivity, high heat capacity, surface emissivity, and thermal bridging. Some high temperature insulation materials include calcium silicate, ceramic fiber, insulating firebrick, and others. Calcium silicate is non-fibrous, and most commonly used as backup insulation. Ceramic fiber offers features such as high resistance to thermal shock, low thermal conductivity and low heat storage, making it an efficient insulator.
Growth in manufacturing industry and favorable government regulations boost the high temperature insulation Market
The major driving factors of the high temperature insulation market include increasing need to save energy, improve performance, and reduce operation costs. Growth in manufacturing and industrial sectors has increased the demand of high thermal insulation material over the years. There has been an increase in demand from industries such as aerospace & defense, automotive & transportation, and industrial, thereby supporting market growth. There has been significant growth in manufacturing and construction industries owing to favorable government regulations and initiatives such as subsidies and incentives and increasing foreign investments. Expansion of established companies into emerging economies and technological advancements in nanotechnology based thermal insulation would provide numerous growth opportunities in the market.
The global high temperature insulation market is segmented on the basis of type, application, and geography.
Geographically, the global high temperature insulation market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Increasing demand from automotive and construction industries boost the market growth in Asia-Pacific
On the basis of geography, Asia-Pacific is expected to account for the highest share during forecast period. A significant growth in the manufacturing, automotive, and construction sectors has been registered over the past few years in China, India, and Japan, thereby driving the growth of high temperature insulation market. Low labor costs, easy availability of raw materials, and need to improve operational efficiency in different industries further support the market growth in the region. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.