MoreAccording to Research and Markets’ “Global High Temperature Insulation Market (2009 2014)” report, the global high-temperature insulation (HTI) products market is witnessing tremendous growth due to the increasing awareness about the energy savings and cost effectiveness offered by these products. The global HTI market is estimated to grow from $2.9 billion in 2009 to $4.1 billion by 2014. While Europe led the global HTI market in 2009 with a 41% share, Asia-Pacific is expected to be the largest market in the near future.
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. Market players in these regions are also focusing on emerging HTI applications such as aerospace and fire protection for further market growth.
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 2014. Glass forms the next-largest application segment, currently holding a 14% share of the overall market.
The global HTI products market is consolidated with two companies holding almost a third of the entire market. These industry leaders are employing a number of growth strategies such as increased R&D investments, new product launches, and agreements and collaborations to expand their market presence. Increased R&D investments have also had a positive impact on product enhancement and differentiation strategies. These competitive developments are expected to boost the growth of the HTI market.
Additional details are available at www.researchandmarkets.com.
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. Market players in these regions are also focusing on emerging HTI applications such as aerospace and fire protection for further market growth.
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 2014. Glass forms the next-largest application segment, currently holding a 14% share of the overall market.
The global HTI products market is consolidated with two companies holding almost a third of the entire market. These industry leaders are employing a number of growth strategies such as increased R&D investments, new product launches, and agreements and collaborations to expand their market presence. Increased R&D investments have also had a positive impact on product enhancement and differentiation strategies. These competitive developments are expected to boost the growth of the HTI market.
Additional details are available at www.researchandmarkets.com.
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