The impending saturation of the European and U.S. markets has induced several HTI manufacturers to adopt geographic expansion strategies to the Asian region. India and China offer especially lucrative markets and also offer the benefit of low-cost manufacturing.
Online PR News – 28-May-2010 – – According to a new market research report, ‘Global High Temperature Insulation Market (2010 – 2015)’, published by MarketsandMarkets (www.marketsandmarkets.com), the total global market for high temperature insulation (HTI) products is expected to be worth US$4.1 billion by 2015, growing at a CAGR of 7.3% from 2010 to 2015.
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The global HTI products market is witnessing tremendous growth due to the increasing awareness about the energy saving and cost effectiveness offered by these products. The impending saturation of the European and U.S. markets has induced several HTI manufacturers to adopt geographic expansion strategies to the Asian region. India and China offer especially lucrative markets and also offer the benefit of low-cost manufacturing. Value-based pricing has emerged as a major growth strategy in the relatively saturated markets. The global HTI market is estimated to grow from $2.9 billion in 2009 to $4.1 billion in 2015.
Energy forms the largest cost component of HTI products, accounting for about 40% to 50% of the total production cost. Thus, energy efficiency in the manufacturing process could significantly lower the cost of the end-product. Petrochemicals currently hold a 30% share of the overall HTI market, and are expected to continue being the largest application market through 2015. Glass forms the next largest application segment, holding a 14% share of the overall market currently.
Scope of the report
The report aims to identify and analyze High Temperature Insulations that helps in reduction in industrial energy consumption. The report segments the global HTI market as follows:
• HTI Categories: Ceramic Fibers, Calcium Silicate and Insulating Firebricks
• HTI Applications: Petrochemicals, Iron & Steel, Ceramics, Refractory, Aluminum, Powder Metallurgy,
• HTI – on the basis of operating temperature range: 1,0000 C - 1,1500 C; 1,1500 C - 1,3000 C; 1,3000 C - 1,5000 C; 1,5000 C - 1,7000 C; Above 1,7000 C
• HTI geography markets: North America, Europe, Asia, and ROW.
The chemicals practice at MarketsandMarkets is pleased to announce its Analyst Briefing Presentation on the Global High Temperature Insulation Market to be held on 23rd March 2010. The briefing will benefit high temperature insulation manufacturers and distributors, raw material suppliers, R&D institutions, and end consumers such as petrochemicals, glass, cement, and iron and steel manufacturers.
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