High Temperature Insulation Market Size

High Temperature Insulation Market Size

High Temperature Insulation Market size was valued at more than USD 3 billion in 2016 and  will grow at a CAGR of over 5% up to 2024 driven by the presence of carcinogenic content in the insulation materials which pose a high risk to human health. Therefore, several countries across the globe have laid stringent regulations to guide the production process.

High temperature insulation (HTI) products are utilized significantly for temperature intensive applications which help in reducing greenhouse gas emission and heat transfer, hence reduces global warming. These products prevent the heat transfer by reducing the energy required to boost temperatures, which helps in protecting materials from thermal damage.

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Increasing focus on energy conservation among various industries such as petrochemical, glass, aluminum, and iron & steel, significantly in Asia Pacific, Europe, and North America, is projected to be one of the major driving forces for the global market. The growth in the region is augmented by rising regulatory pressure on reducing energy consumption and maximizing the energy efficiency of industrial systems. Also, stringent regulations forced on cement, metal, and oil & gas to lower greenhouse gas emissions have augmented the high temperature insulation market share in forecast timeframe.
 

Increasing demand for ceramic fiber for industrial thermal insulation is expected to drive the global high temperature insulation market owing to its properties, which offers insulation by protecting and safeguarding machine’s health & performance, will positively affect the growth of high temperature insulation market over the projected period. Moreover, it offers longer operating life to machinery and ensures energy compliance.