According to a report by Reports and Data, the global microporous insulation market is expected to reach USD 215.2 million by 2028, with a revenue CAGR of 5.2% during the forecast period. The increasing demand for microporous insulation from various sectors such as automotive, aerospace defense, oil gas, energy power, and industrial is driving the market revenue growth. The high temperature microporous insulation is the most efficient way to save energy and space, resulting in lower CO2 emissions and increased safety. The ultra-thin and lightweight microporous insulation boards, rigid and flexible panels maintain the highest thermal stability in extreme environmental conditions. The rising awareness regarding these product features is expected to boost the adoption rate of the product and drive revenue growth of the global microporous insulation market. The low density, thinness, and lightweight of microporous materials offer various benefits in terms of storage, transport, handling, and installation time.
Major players are investing in research and development activities for the production of microporous insulation materials for high performance applications that require lightweight, spacious, and optimal thermal management properties. Companies like Min-k and WDS microporous products and systems of Morgan Advanced Materials offer critical thermal management performance to various end use industries.
The report highlights that the rigid boards and panels segment is expected to account for the largest revenue share in the global microporous insulation market over the forecast period, owing to its growing demand from industrial and commercial applications. The industrial segment is expected to account for a considerably large revenue share in the global microporous insulation market due to the rising need for insulation that saves space, weight, and energy among different industrial verticals.
Europe is expected to account for the largest revenue share in the global market over the forecast period, with major manufacturers like Promat International, Morgan Advanced Materials, Isoleika S. Coop., Elmelin, and Kingspan Group plc focusing on launching new and effective microporous insulation materials for high performance applications that require lightweight, space, and optimal thermal management for energy and environment impact, which is expected to boost market revenue growth in the region.
Some of the major companies profiled in the global market include Promat International (Etex Building Performance NV), Morgan Advanced Materials, Isoleika S. Coop., Unicorn Insulations Limited, Johns Manville, NICHIAS CORPORATION, Unifrax, Elmelin, Advanced Ceramics Corp., and Kingspan Group plc.
The global microporous insulation market is segmented based on product type, application, and region. The product types include rigid boards and panels, flexible panels, others, machined parts, pourable products, moldable products, feeder bowl kits, and vacuum insulated panels. The applications include industrial, energy power, oil and gas, aerospace defense, automotive, and fire protection. The regions covered in the report include North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
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Microporous Insulation Market: Drive factors
The global microporous insulation market is expected to experience significant growth in the forecast period, driven by several factors.
One of the key drivers is the increasing demand for microporous insulation in various sectors such as automotive, aerospace defense, oil gas, energy power, and industrial. The use of microporous insulation in these industries has been driven by its high thermal efficiency, which helps save energy and space, reduce CO2 emissions, and enhance safety.
Another driver is the rising awareness about the benefits of microporous insulation materials, such as their low density, thinness, and lightweight, which offer various benefits in terms of storage, transport, handling, and installation time.
Furthermore, major players in the industry are investing heavily in research and development activities to produce high-performance microporous insulation materials that offer optimal thermal management properties, are lightweight and spacious.
In addition, the growing demand for high-temperature microporous insulation as an efficient way to save energy and space is expected to drive market revenue growth during the forecast period.
Finally, the use of microporous insulation materials helps in maximizing thermal efficiency and process control, reducing the insulation lining thickness by a factor of four compared to traditional insulation. This is expected to drive revenue growth of the global microporous insulation market.
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