Europe is projected to account for the largest share of the microporous insulation market
Europe is estimated to be the largest microporous insulation market in 2018 and is expected to continue to lead the market till 2023, owing to rising awareness to conserve energy in the region. In addition, presence of stringent regulations regarding the use of insulation materials which comply with Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) and European Dangerous Substances Directive Amendment 97/69/EC, drive its demand in the region. Also, the presence of various manufacturers of microporous insulation in the region drives its demand.
The microporous insulation market size is projected to reach USD 165 million by 2023, at a CAGR of 4.7%, from an estimated USD 132 million, in 2018.
Microporous insulation is a composite material comprising a blend of ceramic powders and fibers, with an average interconnecting pore size comparable to or even less than mean free path of air molecules at standard atmospheric pressure. The microporous insulation material is inorganic in nature, making it non-combustible and suitable for passive fire protection applications. The growing industrialization in Asia Pacific and South America and increasing oil & gas production in countries, such as the US, Saudi Arabia, Iran, and Russia drive the demand for microporous insulation. The requirement for high thermal insulation products in various applications, such as industrial, oil & gas, energy & power also drive the demand for microporous insulation.
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Key questions addressed by the reportWhat are the major developments impacting the market?
Where will all these developments take the industry in the mid to long term?
What is the upcoming type of microporous insulation?
What are the emerging applications for microporous insulation?
What are the major factors expected to impact market growth during the forecast period?
Key Market Players The key players in this market are Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Limited (China), Guangzhou Huineng Environmental Protection Materials Co. Ltd. (Siltherm) (China), NICHIAS Corporation (Japan), ThermoDyne (US), Unifrax (US), Elmelin Ltd. (UK), and Johns Manville (US), among others. Isoleika S. Coop. is one of the leading players in microporous insulation market. The company offers various types of microporous insulation products, such as rigid panels, flexible panels, moldable products, machined parts, and pourable products. It is one of the best thermal solution providers, globally.Unicorn Insulations is one of the largest companies of microporous insulation in China. The company focuses on developing high performance thermal insulation as it solves the world’s major challenges such as energy availability, and global warming among others.
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