High Temperature Insulation Market Size Worth $5.14 Billion by 2020

Grand View Research, Inc.

SAN FRANCISCO, September 13, 2018 /PRNewswire/ --

The global high temperature insulation (HTI) market size is expected to reach USD 5.14 billion by 2020, according to a new report by Grand View Research, Inc., exhibiting a 7.5% CAGR during the forecast period. Stringent regulations imposed on oil and gas, cement, and metal to reduce greenhouse gas (GHG) emissions has augmented market growth.

     (Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )

Energy savings and reduced emissions are key benefits driving the adoption of high temperature insulation; environmental initiatives supported by regulatory agencies across the globe will also support market growth. Durability issues are expected to remain a key challenge for manufacturers. However, development of new applications for HTI products and emergence of low bio-persistent and bio-based insulation products are expected to open opportunities for market participants.

The global HTI industry is led by production innovation and application development. While competition is expected to intensify over the next few years, the market is also expected to consolidate as leading participants look to enter new regional markets and enhance market presence through strategic mergers. Regulations are expected to be a critical factor influencing industry development.

HTI products are required to meet standards set by U.S. EPA, European REACH, and recently adopted CLP regulations. European Chemical Regulations supplemented by local and national regulations are applicable for high temperature insulation wools as these are considered chemical substances. Increasing need to reduce energy consumption and emissions has particularly encouraged development of advanced high temperature insulation products.

There are moderate barriers to entry in the HTI industry. The stringent and dynamic regulatory scenario makes entry difficult as product acceptance and registration remains a key challenge for new entrants. Frequent alliances, acquisitions, and mergers are steadily pushing the industry toward consolidation, which in turn, is expected to somewhat counter the threat of new entrants.

Browse full research report with TOC on "High Temperature Insulation Market Analysis Report By Product (Ceramic Fiber, Insulating Firebrick, Calcium Silicate), By Application (Petrochemicals, Cement, Refractory), And Segment Forecasts, 2012 - 2020" at: https://www.grandviewresearch.com/industry-analysis/high-temperature-i ...