APAC to dominate the microporous insulation market


Posted April 7, 2021 by white123

The global microporous insulation market size was USD 125.8 million in 2017 and is projected to reach USD 165.4 million by 2023, at a CAGR of 4.7%.

 
Microporous insulation is a composite material comprising of a blend of ceramic powders and fibers, with an average interconnecting pore size comparable to or even less than the mean free path of air molecules at standard atmospheric pressure. It may contain opacifiers to reduce the amount of the radiant heat transmitted. The microporous insulation material is inorganic making it non-combustible and suitable for passive fire protection applications. It is ideal for any high-temperature application and has been used in aerospace, automotive, industrial, and commercial markets where space and weight conservation are critical requirements without compromising the thermal performance.

The rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the APAC region offer various opportunities regarding the use of microporous insulation. Also, the increase in demand for energy, power, metal, and automotive, is expected to drive the market. The microporous insulation market is significantly driven by the oil & gas segment, where there is a high demand for advanced insulation solutions, having a reduced thickness and low thermal conductivity.

The global microporous insulation market size was USD 125.8 million in 2017 and is projected to reach USD 165.4 million by 2023, at a CAGR of 4.7%. Additionally, the microporous insulation market is expected to grow from 3,800 metric tons in 2018 to 4,608 metric tons by 2023, at a CAGR of 3.9% during the forecast period. Its unique property of space and weight conservation in the aerospace & defense application will drive the growth of this market.

The demand for microporous insulation is increasing in the aerospace application due to increasing demand for light-weight materials, which in turn, saves the fuel consumed during operation of an aircraft. In addition, the use of microporous insulation provides high performance and helps to meet the space and weight specifications in the aerospace sector. It is the most demanding sector in terms of performance & reliability due to operational and safety reasons.

The key players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), Nichias Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK).

Browse 106 market data Tables and 37 Figures spread through 138 Pages and in-depth TOC on “Microporous Insulation Market by Product Type (Rigid boards & panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive), and Region – Global Forecast to 2023”
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Issued By Markets and Markets
Country United States
Categories Business
Tags Microporous Insulation Market , Microporous Insulation , Rigid boards & panels , flexible panels
Last Updated April 7, 2021