According to the latest report by IMARC Group, titled “Microporous Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global microporous insulation market size reached US$ 148.1 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 192.5 Million by 2027, exhibiting a growth rate (CAGR) of 4.6% during 2022-2027.
Microporous insulation is an inorganic composite material, which is manufactured from the blend of selective grade opacifier, ceramic powders and high-quality agglomerates of pyrogenic silica. It is extensively deployed in various verticals for sustaining energy by minimizing heat loss. The microporous insulation is less thick and non-combustible, which makes it suitable for passive fire protection applications and high-temperature environments.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The widespread adoption of nuclear energy across the globe due to fueling electricity consumption, coupled with the rising consciousness amongst consumers regarding environmental pollution represents one of the key factors driving the global microporous insulation market toward growth. Furthermore, the escalating utilization of microporous insulation in nuclear steam supply systems (NSSS) for controlling the heat of several components like pipe, valves, reactors, and the pump is contributing to the market growth. In addition to this, the increasing demand for microporous insulation for protecting airplanes data recorder boxes is propelling the market growth. Other factors, such as extensive research and development (R&D) activities and the introduction of upgraded product variants, are creating a positive outlook for the market.
Breakup by Material:
- Alumina Silica
- Calcium Magnesium Silicate
- Others
Breakup by Product:
- Rigid Boards and Panels
- Flexible Panels
- Others
Breakup by Application:
- Industrial
- Energy and Power
- Oil and Gas
- Aerospace and Defense
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Elmelin Ltd
- Etex Group
- Isoleika S. Coop
- Johns Manville Corporation (Berkshire Hathaway Inc.)
- Kingspan Group Plc
- Morgan Advanced Materials plc
- NICHIAS Corporation
- Siltherm Group Holdings Limited
- TECHNO-PHYSIK Engineering GmbH
- Unicorn Insulations Limited
- Unifrax LLC
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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