According to Grand View Research, Inc.; the worldwide microporous insulation market is likely to achieve nearly USD 184.8 million by 2025. Microporous insulation materials offer greater thermal insulation. They also provide good resistance to flame and weather. This material finds wide range of applications including industrial, oil and gas, energy and power, aerospace and defense, and others.
Most manufacturers are launching innovative products for enhanced applications. For instance, Morgan Advanced Materials PLC has launched microporous high temperature insulating products such as WDS and BTU. These products enable temperature stability of up to 1100 degree Celsius and can be used as a backing insulation in aluminium, steel, and glass industry. Both these products have low thermal conductivity and they can help reduce lining thickness in a variety of applications. WDS technology is one of the most effective manufacturing processes to produce custom engineered solutions for specific requirements. It can also offer the lowest possible thicknesses in furnace designs.
Unifrax LLC has developed microporous insulation called “Excelfrax”. It is primarily made of fumed silica and inorganic oxides. Silicates and opacifiers are added for improved material performance. This product is said to offer better thermal stability, consistent temperatures, easy to fabricate, and slow thermal conductivity. All these features can save space, energy, and weight.
Rising demand from various end use industries can propel microporous insulation market over the forecast period (2014 to 2025). Superior properties of microporous insulation can provide effective protection of equipment during power generation process is a major driving factor for the market. However, high cost of the product may restrain market growth during the forecast period. High cost of production leading to low industrial capacity is also likely to hamper the market growth.
In 2016, industrial applications dominated the overall market. The segment is expected to exhibit a high CAGR during the forecast period (2014 to 2025). This growth is associated with rising use of the product in metal and ceramic manufacturing. In 2016, Europe captured the largest market share. It may continue showing a rapid growth in near future due to high demand from defense and aerospace sector. Asia Pacific is expected to show high growth over the forecast period owing to fast paced industrialization.
Some of the leading companies in the market are Johns Manville Corporation; Unifrax LLC; Morgan Advanced Materials PLC; Unifrax LLC.; and Promat International Nv.
In-Depth Research Report On Microporous Insulation Market:
https://www.grandviewresearch.com/industry-analysis/microporous-insulation-market
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