High Temperature Insulation 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.
(PRWEB) June 15, 2012
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 (http://www.marketsandmarkets.com), 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 in-depth TOC 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. Next year the market grew by 10.6% and reached to $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 market by 16% to $2.29 billion. In 2010, the market recovered and companies in high temperature insulation business recorded significant jump in their revenues. For instance, The Morgan Crucible Company Plc reported a 12% rise in their thermal ceramic division’s revenue which includes high temperature insulation products. In 2010 the overall high temperature insulation market surged by 9.6% and reached to $2.51 billion. In 2011, the market jumped again by 7.8% to $2.9 billion and the similar growth is expected in next year.
The high temperature insulation market is forecasted to reach $3.5 billion by 2016 at a compounded annual growth rate of 5.4% in next five years. Europe is the largest consumer of HTI products with 40% market share in 2011 followed by North America with 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 on high temperature insulation market 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 forecast the market in every possible way.
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