The geographical segmentation shows that Europe holds the largest share in the high temperature insulation market, generating 39% of the total revenue.
(PRWEB) February 10, 2013
According to a new market research report, “High Temperature Insulation Market - HTI Application (petrochemicals, glass, ceramics, and others) and Temperature Range - Global Trends & Forecasts (2011 - 2016)”, published by MarketsandMarkets, the global HTI products market will grow from estimated $2.7 billion in 2011 to $3.5 billion in 2016 with a compound annual growth rate of 5.4% during the same period.
Browse 80 market data tables/figures and an in-depth Table of Content on “High Temperature Insulation Market - HTI Application (petrochemicals, glass, ceramics, and others) and Temperature Range - Global Trends & Forecasts (2011 - 2016)”, an extensive report with 245 pages.
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The global HTI market was valued at $2.47 billion in 2007. The following year the market grew by 10.6% and reached $2.73 billion in 2008. In 2009, the global economic crisis affected the number of projects across various industries which led to a fall in the market by 16% to $2.29 billion. In 2010, the market recovered and companies in the high temperature insulation business recorded significant jumps in their revenues. For instance, The Morgan Crucible Company Plc reported a 12% rise in their thermal ceramic division’s revenue, which included high temperature insulation products. In 2010 the overall high temperature insulation market surged by 9.6% and reached $2.51 billion. In 2011, the market jumped again by 7.8% to $2.9 billion. Similar growth is expected in next year.
The high temperature insulation market is forecast-ed to reach $3.5 billion by 2016 at a compounded annual growth rate of 5.4% over the next five years. Europe is the largest consumer of HTI products with 40% market share in 2011, followed by North America with a 35% share. UK based Morgan Thermal Ceramics and U.S. based Unifrax are the largest manufacturers of HTI products and together constitute one third of the market.
The report ‘High Temperature Insulation Market by Application (petrochemicals, glass, ceramics, and others), and Temperature Range – Global Trends & Forecasts (2011 – 2016)’ segments the HTI market by application, temperature range, and geography. It also focuses on market share analysis, and market metrics like drivers, restraints and opportunities. With more than 80 market data tables/figures, it breaks and forecasts the market in every possible way.
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