Global high temperature insulation wool (HTIW) market is expected to witness significant growth on account of its increasing demand from petrochemical industry. Petrochemical industry extensively uses HTIW for insulation applications. HTIW, also known as ceramic fiber wool, is one of the major segments of high temperature insulation materials. HTIW is a type of synthetic mineral wool which is resistant to temperatures greater than 1000°C. HTIW is manufactured from synthetic raw materials such as saran and aramids. Aluminum silicate fiber is the first variety of refractory HTIW. in which finds application for conveying molten aluminum. Increasing demand for molten aluminum is expected to further complement global HTIW market growth. HTIW is an accumulation of fibers of varied diameters and lengths; hence they are increasingly being used in various end use industries such as petrochemical and aerospace. Increasing concerns regarding greenhouse gas emissions is expected to further augment HTIW market growth over the forecast period. Increasing industrial output in developing nations along with the rising concerns regarding high energy costs and subsequent requirements to reduce manufacturing costs is expected further drive the global HTIW market. HTIW helps in construction of lightweight industrial furnaces and other technical apparatus such as heating systems. This potential use of HTIW offers diverse ecological and economic benefits to factories. High HTIW demand in aerospace and iron & steel industry owing to its temperature resistant property is anticipated to act as a driving factor for HTIW market over the forecast period. Additionally HTIW is largely preferred over glass wool and rock wool owing to its excellent thermal shock resistant and low thermal conductivity properties. Its potential to substitute the above mentioned products is anticipated to have a positive impact on its global demand. High content of elongated dust particles used in HTIW can impede the HTIW market, since dust particles cause tumor development. Moreover, emission of fibrous dust during handling of HTIW products causes various health hazards, which can be a factor restraining HTIW market growth.
On the basis of product types HTIW market can be segmented into alkaline earth silicate wool (AES), alumino silicate wool (ASW) and polycrystalline wool (PCW). Alkaline earth silicate wool is also known as high temperature glass wool. Widespread AES usage in manufacturing products requiring application temperature less than 900 C is anticipated to foster HTIW market. Alumino silicate wool, also known as refractory ceramic fiber, is used for production of operating equipment requiring critical temperature conditions. Increasing utilization of AES wool and ASW in diverse domestic applications is anticipated to augment HTIW market over the forecast period. Additionally, growing polycrystalline wool demand in petrochemical industry is further expected to foster the global HTIW market growth. Major HTIW applications include petroleum, aerospace, automotive, iron & steel, cement, refractory, glass and aluminum. Petrochemicals emerged as a major application segment owing to high HTIW demand for thermal insulation. Increasing petrochemicals production, particularly in Asia Pacific and Middle East, is expected to drive HTIW demand in the aforementioned application over the next seven years.
Asia Pacific emerged as the leading regional market with majority of HTIW demand driven by China and India. Growing petrochemical industry in these markets is expected to drive Asia Pacific HTIW market growth over the forecast period. Increasing HTIW consumption in aerospace and iron & steel industries is expected to drive North American market growth over the forecast period. Europe HTIW market is characterized by increasing downstream oil & gas activities particularly in Eastern European countries.
Global HTIW market is moderately fragmented with major companies vying for leadership position through various strategies such as capacity expansions, R&D, distribution agreements and integration through supply chain. Key participants in the global market include Unifrax LLC, Morgan Thermal Ceramics, Shangdong Luyang Co. Ltd, Promat GmbH, BNZ Materials Inc., Zircar, Pyrotek, Isolite and Skamol.
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