Global High Temperature Refractory Insulation Material Market (2019 Edition)

Date: 1 September 2019

According to a research report published by Azoth Analytics in August 2019, the Global High Temperature Refractory Insulation Material Market was valued at USD 4.7 Billion in the year 2018. Key responsible factors for high demand of High Temperature Refractory Insulation Materials include product performance, durability and growing adoption in developed and developing countries. Moreover, rise in the industrial development in sectors like Steel & Non-ferrous metals, Chemicals & Specialty chemicals, Thermal and Nuclear Power, Captive power generation, Pulp & Paper, Glass & Ceramics etc. played a crucial role in creating demand of High temperature Refractory insulation materials. 

Additionally, strict industrial norms related to safety, maintenance and environmental concerns generate repetitive demand of refractory insulating materials from existing manufacturing plants. Emphasis towards energy efficiency also playing prime role in advancement of high temperature refractory insulation materials.

The Azoth Analytics research report titled “Global High Temperature Refractory Insulation Material Market (2019 Edition): Opportunities and Forecast (2014-2024)” has analysed and segmented the High Temperature Refractory Insulation Material Market By Value (USD Million). The report has further analysed the High Temperature Refractory Insulation Material Market by Material Type (Ceramic Fibers, Insulating Fire Bricks, Calcium Silicate, Others) and by End Users (Petrochemical, Iron & Steel, Glass & Ceramics, Power, Others). The Global High Temperature Refractory Insulation Material Market has been analysed By Region (America, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Brazil, United Kingdom, Germany, France, China, Japan, India) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Demand for refractory products is strongest in the iron and steel industrial sectors, owing to growing consumption rate of steel finished products from automotive and metal industry.  It is also gaining share in the power sector market, ceramic industry and chemical industry. Given its properties like design flexibility, durability, functionality and ease of maintenance; High Temperature Refractory Insulation Materials are also becoming popular even in petrochemical industrial segment. Expansion in infrastructure due to large population shift in cities and high standard of living has also increased the demand of High Temperature Refractory Insulation Materials in APAC region.

Emerging trend for the high temperature refractory insulation material market is consolidation in the refractory manufacturing industry. In order to survive in the global market and successfully retain their competitive advantage, the currently existing refractory product manufacturers are induced to consolidate their resources.
Additionally, the innovation and technological advancement has enabled the emergence of several refractory products with long lasting and efficient features. The major leading players like Morgan Advanced Materials and Etex Group with their businesses in high temperature insulation are focused on new product development to provide to their growing demand in emerging economies.

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