Microporous Insulation Market Analysis

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Microporous Insulation Market Analysis Research
By Product (Flexible Panels, Rigid Boards
Panels, Feeder Bowl Kits, Pourable Products,
Vacuum Insulated Panels, Machined Parts, Moldable
Parts), Application (Oil Gas, Energy Power,
Industrial, Aerospace Defense, Automotive) and
Forecast to 2027
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Microporous Insulation Market Synopsis
The Global Microporous Insulation Market was
valued at USD 139.39 million in 2019 and is
expected to reach USD 206.55 million by the year
2027, at a CAGR of 5.6. Microporous insulation
is a highly thermally efficient material with a
thermal conductivity even less than that of still
air. The microporous insulation materials are
made of high-temperature radiation blockers, fine
diameter heat resistant particles, and
reinforcement fibres. The components of these
materials are appropriately sized and designed to
create a microporous structure, which restricts
movements of air particles, leading to
exceptionally low thermal conductivity. The
global microporous insulation market is propelled
by the materials excellent resistance to flame
and weather, brilliant thermal performance,
weight, and space-saving properties, hydrophobic
nature. Additionally, rapid infrastructural
development and industrialization have increased
demand for materials like glass, cement, iron,
and steel, which has led to growth in the growth
of microporous insulation industry. The
preference for light-weighted insulating
materials over traditional materials is further
leading to an expansion in this industry. Free
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Drivers and Restraints The growing demand for
the product from the end-use industries, along
with the advantageous properties of microporous
insulation materials such as thermal performance,
outstanding lightweight, and resistance to fire
and climate, will likely be factors augmenting
the market growth. High-temperature insulation
materials is a major requirement in the oil gas
industry for the production of petrochemicals and
other chemicals. This is expected to have a
positive impact on the demand for flexible
microporous panels in the oil gas sector over
the forecast period. Rising demand for these
insulation products due to growing energy, power,
and aerospace and defense sectors, particularly
in developed economies including Germany, UK, and
France, is expected to drive the market demand
over the forecast period. Microporous insulation
products are used in the aerospace industry owing
to their compact weight, thermal management,
space structure, and fire protection for various
applications involving heat engines, shields, and
exhaust insulation. Due to its technical
properties, microporous insulation product is
likely to capture a considerable market share in
the aerospace and defense industry. High
operational and manufacturing expenses, limited
awareness about the microporous insulation
materials are some of the restraints this market
faces.
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Competitive Landscape Key players in this
industry include Isoleika S. Co-op, Unicorn
Insulation Limited Morgan Advanced materials,
Promat International N.V., Guangzhou Hueing
Environmental Protection materials Co. Ltd,
Thermodyne, Nichias Corporation, Unifrax, and
John Malville. Industry News In June 2020,
U.K.-based Morgan Advanced materials announced
the acquisition of Argentina based Carbo San
Luis. This comes after 22-years of partnership to
ensure the continued growth and development of
the business. In August 2020, Promat announced
the launch of the new PROMATECT 100X, its
high-performance fire protective board based on
PROMAXON and PromaX technology. Promat said
that it set the bar higher than officially
required and tested under the most extreme
conditions. They have used selected material, so
these solutions and classifications can receive
CE marking. In July 2020, Unifrax, a leader in
the microporous insulation market, backed by
Clearlake Capital Group, L.P., announced the
acquisition of U.S.-based Rex Materials Group, a
leading manufacturer of engineered thermal
components. The financial terms of the
transaction were not disclosed.
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Microporous Insulation Market Segmentation For
the purpose of this report, the market is
segmented on the basis of products and
applications. Regional segmentation of the market
includes Asia Pacific, Europe, North America, and
the Rest of the World (RoW). The product
segmentation of the microporous insulation market
is done as Rigid boards and panels, Flexible
panels, Moldable parts, Machined parts, Feeder
Bowl kits, Vacuum insulated panels, and Pourable
products. On the basis of application, the
microporous insulation market is segmented as
Industrial, Energy Power, Oil Gas, Defense,
Aerospace, Automotive industry, and Fire
protection. Microporous Insulation Market
Regional Outlook Europe is the largest player in
the microporous insulation market because of the
regions increasing focus on energy conservation.
It held a market share of 28.9 in the
microporous insulation market in 2019. Adherence
to strict regulations relating to the use of
insulation materials under the Registration
Evaluation Authorization and Restriction of
Chemicals (REACH) and the European Unions
Dangerous Substances Directive Amendment 97/69/EC
increases the demand for microporous insulation
in the region.
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North American region held the second largest
market share of 37.2 in 2019. The Latin American
and Middle East regions hold the lowest share in
the microporous insulation market owing to its
lack of awareness regarding microporous
insulation. However, flexible panels hold 33.9
of the total market share. Flexible panels are
expected to grow rapidly, especially in the
Middle East and Africa region, owing to
flourishing oil and gas industries. Browse
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eport-detail/microporous-insulation-market
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