South Korea High Temperature Insulation Market Size & Outlook
South Korea high temperature insulation market, 2017-2030 (US$M)
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South Korea high temperature insulation market highlights
- The South Korea high temperature insulation market generated a revenue of USD 201.4 million in 2021 and is expected to reach USD 303.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.7% from 2022 to 2030.
- In terms of segment, ceramic fiber was the largest revenue generating product in 2021.
- Ceramic Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
High temperature insulation market data book summary
| Market revenue in 2021 | USD 201.4 million |
| Market revenue in 2030 | USD 303.8 million |
| Growth rate | 4.7% (CAGR from 2021 to 2030) |
| Largest segment | Ceramic fiber |
| Fastest growing segment | Ceramic Fiber |
| Historical data | 2017 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ceramic Fiber, Insulating Firebrick, Calcium Silicate |
| Key market players worldwide | 3M Co, Morgan Advanced Materials PLC, Almatis, Aspen Aerogels Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.2% of the global high temperature insulation market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China high temperature insulation market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 143.5 million by 2030.
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High Temperature Insulation Market Scope
High Temperature Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea high temperature insulation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to high temperature insulation market will help companies and investors design strategic landscapes.
Ceramic fiber was the largest segment with a revenue share of 64.5% in 2021. Horizon Databook has segmented the South Korea high temperature insulation market based on ceramic fiber, insulating firebrick, calcium silicate covering the revenue growth of each sub-segment from 2017 to 2030.
The high temperature market in South Korea is expected to grow significantly over the forecasted period, owing to its the wide usage of the product in several key industries in the country such as steel, car parts manufacturing, ship building, and textiles.
In addition, high large investments by the government towards the adoption of renewable sources for energy generation are, is expected to drive market growth. As per data published by Institute for Energy Economics & Financial Analysis, renewable sources accounted for about 6.5% of South Korea’s total energy generation in 2020.
The government aims to increase the share of renewable sources to 42% by 2034. The y government is focusing on are setting up various solar and wind energy projects, as per the ninth basic plan for electricity supply and demand by the Ministry of Industry & Energy.
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Our clientele includes a mix of high temperature insulation market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea high temperature insulation market , including forecasts for subscribers. This country databook contains high-level insights into South Korea high temperature insulation market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea high temperature insulation market size, by product, 2017-2030 (US$M)
South Korea High Temperature Insulation Market Outlook Share, 2021 & 2030 (US$M)
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