Infinium Global Research High Temperature Insulation Market | Page 10

Global High Temperature Insulation Market: Trends and Forecast -2023
EXECUTIVE SUMMARY
GLOBAL HIGH TEMPERATURE INSULATION MARKET HIGHLIGHTS, (USD MILLION)
The global high temperature insulation market is driven by the factors such as rapid
growth in the end user industries and rising demand for energy conservation and
heat loss control. However, health issues associated with ceramic fibers is primary
factor restraining the growth of the market. The impact of this factor is very low
and is not likely to have major implications on the market in the long run.
Globally, rise in demand for low bio-persistent materials is expected to provide
opportunities for the key players in the industry over the forecast period.
North America dominates the world High Temperature Insulation market in terms
of dollar share, while Asia Pacific is anticipated to grow at the highest CAGR over
the forecast period. The growth in the Asia-Pacific region is primarily driven by
emerging economies such as India, China and Indonesia. The Developed regions
such as North America and Europe are expected to experience sluggish growth due
to matured nature of economies.
North America is the largest revenue generating region and it is mainly driven by
large scale production and consumption of High Temperature Insulation materialsin
the U.S. Asia-Pacific is expected to growth at the highest CAGR of x.x% over the
forecast period. Some of the key players in the global High Temperature Insulation
market are Morgan Thermal Ceramics (U.K.), Unifrax I LLC (U.S.), Shangdong Luyang
Co. Ltd (China), Isolite Insulating Products Co. Ltd. (Japan), Promat GmbH (Belgium),
Pyrotek Incorporated(U.S.), and BNZ Materials Inc. (U.S.).
10
|
© Infinium Global Research