PUNE, India, August 30, 2016 /PRNewswire/ --
The report "High-Performance Insulation Materials Market by Type (Aerogel, Ceramic Fiber, Glass Bubble, EPS, XPS), Application (Oil & Gas, Industrial, Construction, Transportation and Power Generation, Automotive, and Paints & Coatings) - Global Forecast to 2021", published by MarketsandMarkets, The global market size was USD 5.79 Billion in 2015 and is projected to reach USD 10.93 Billion by 2021, at a CAGR of 11.2%.
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Browse 93 market data Tables and 42 Figures spread through 136 Pages and in-depth TOC on "High-Performance Insulation Materials Market "
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Growing end-use applications such as oil & gas and industrial are driving the market for high-performance insulation materials. Increasing concern over energy conservation in industrial applications is also driving the market.
Asia-Pacific is the key market for high-performance insulation materials
Asia-Pacific dominated the high-performance insulation materials market in 2015. China is the second-largest high-performance insulation materials consumer in the world. The demand for the high-performance insulation materials is driven by from various sectors such as oil & gas, construction, automotive, and industrial, among others. The increase in infrastructural investments and rise in the number of new manufacturing establishments is anticipated to lead Asia-Pacific as the major driver of growth for the high-performance insulation materials market.
Oil & gas application to dominate the global high-performance insulation materials market
The oil & gas segment dominated the high-performance insulation materials market in 2015, in terms of value. The increasing demand for advanced insulation materials for critical applications is expected to sustain the growth of the high-performance insulation materials market in the oil & gas segment between 2016 and 2021. The demand for advanced insulation materials in oil & gas applications is mainly supported by increasing concerns regarding energy conservation. High-performance insulation materials are also used in the automotive industry as it provides several unparalleled benefits such as enhanced acoustic performance, thermal signature reduction for hot engine components, and lightweight thermal insulation for exhaust, impact damping, and fire protection.
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Aerogel materials segment projected to witness the fastest growth
The aerogel materials segment is projected to witness the highest CAGR during the forecast period. Factors such as superior insulating properties, increasing concerns for energy conservation, reduction in green-house gases emissions, and cheap and abundant raw material availability will continue to drive the growth for this segment in the global high-performance insulation materials market.
The global High-Performance Insulation Materials Market has a large number of market players; however the market is dominated by some major players, such as Aspen Aerogels Inc. (U.S.), Cabot Corporation (U.S.), 3M Company (U.S.), Aerogel Technologies LLC (U.S.), Nano High-Tech Co. Ltd. (China), Guangdong Alison Hi-Tech Co. Ltd. (China), Morgan Thermal Ceramics (U.K.), Unifrax Corporation (U.S.), and Shandong Luyang Share Co. Ltd. (China), among others.
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