A new report by a Dallas-based market research firm says that the market for high-temperature insulation (HTI), including ceramic fibers, insulating fire bricks and calcium silicate board is expected to grow at a healthy rate for the next five years, driven by growing demand in countries in the Asia-Pacific, Middle East, South America and Africa. The Markets and Markets report says growth is increasing due to the necessity to reduce energy consumption and cut manufacturing costs along with a growing desire to control greenhouse emissions due to environmental concerns.
The Asia-Pacific region is the largest consumer of HTI materials across the world. That market is expected to grow at a compound annual growth rate (CAGR) of 6.7% in terms of volume and and 8.5% in value by 2020. Consumption of HTI materials in South America is expected to grow fastest at a CAGR of 10.9% followed by Africa and Middle East respectively. The demand for HTI materials in these markets is being fueled by the growing industrialization in their emerging economies. The petrochemicals industry is the biggest consumer of HTI products, and is expected to drive the market. However others end-user segments contributing to growth include aerospace, automotive, fire protection and solar energy.