Microporous Insulation Market Analysis | 2023-2028

Market Insights

"The microporous insulation market size was valued at USD 124.39 billion in 2022 and is forecast to grow to USD 164.78 billion by 2028 at a CAGR of 4.63% during 2023-2028".

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Market Dynamics

Introduction

Microporous insulation is a type of insulation material characterized by its extremely low thermal conductivity and high porosity. It consists of a network of interconnected pores with sizes ranging from nanometers to micrometers, hence the name "microporous." These tiny pores effectively trap gases within the material, creating a barrier against heat transfer through conduction and convection.

Market Drivers

Driver: Growing demand for high thermal resistant insulation materials in oil & gas applications:

Microporous insulation is a high-temperature material with low thermal conductivity, offering four to five times greater thermal efficiency than conventional materials like glass-filled foams, fibers, and metals. This superior thermal resistance is particularly important in oil and gas applications, where insulation is crucial. Microporous materials also have significant resistance to flame and extreme weather conditions. The global oil and gas sector is expected to experience significant growth until 2020 due to increased demand from the automotive and aviation industries, necessitating advanced insulation materials for transporting oil and gas to distant areas.

Key Players

The following are the key players in the microporous insulation market (arranged alphabetically)

• Elmelin Ltd.
• Guangzhou Huineng Environmental Protection Materials Co. Ltd. (Siltherm)
• Isoleika S. Coop.
• Johns Manville
• Morgan Advanced Materials plc
• NICHIAS Corp
• Promat International N.V.
• ThermoDyne
• Unifrax
• Unicorn Insulations Limited

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

Product Trend

"Rigid boards & panels segment held the largest share of the market in 2021"

Based on the product type, the market is segmented as rigid boards & panels, flexible panels, and others. The rigid boards & panels segment held the largest share of the market in 2021 and is expected to maintain its dominance during the forecast period. Rigid boards & panels have extremely low thermal conductivity and high thermal stability because of which they are used in different temperature-sensitive and critical applications, which in turn, is driving the growth of this segment.

Application Trend

"Industrial segment dominates the market during the forecast period"

Based on the application type, the market is segmented as industrial, energy & power, oil & gas, aerospace & defense, and others. The industrial segment dominates the market. The rapid industrialization in the Asia-Pacific region and the growing demand for high thermal resistance products used in various industrial applications are expected to propel the growth of this segment during the forecast period.

Regional Insights

"Europe is estimated to be the largest as well as fastest-growing market during the forecast period"

In terms of regions, Europe is estimated to be the largest as well as fastest-growing microporous insulation market during the forecast period, with France, Germany, the UK, and Italy being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as industrial, aerospace & defense, oil & gas, and others, which is generating huge demand for microporous insulation and the presence of a large number of microporous insulation manufacturers in the European region. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented in the following ways:

By Product Type 

• Rigid Boards & Panels
• Flexible Panels

By Application Type 

• Industrial
• Energy & Power
• Oil & Gas
• Aerospace & Defense
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s microporous insulation market realities and future market possibilities for the forecast period of 2023 to 2028.

The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.