Microporous Insulation Market Size, Development Data, Growth Analysis & Forecast 2022 to 2025

As per the latest research by Global Market Insights Inc. microporous insulation market is estimated to exceed the USD 1.3 billion mark by 2025.

Microporous insulation market is expected to gain massive proceeds in the upcoming years owing to surging environmental and climatic concerns worldwide. This in consequence is expected to increase the demand for products endorsing temperature regulation across various sectors.

Microporous insulation materials find remarkable applications in the transportation sector as they are chemically resistant, have high thermal stability, and provide low thermal conductivity. There has also been a consistent increase in product demand in the aerospace industry for use in exhaust systems, black boxes, auxiliary power units, and voyage data recorders used for temperature regulation.

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Major trends influencing the microporous insulation market

Surging product demand in the Asia Pacific

Asia Pacific is viewed as the fastest growing region in terms of microporous insulation product demand on account of the region’s well-established automotive manufacturing industry. The rising demand has been chiefly attributed to the surging investment by regional governments in the automotive and e-vehicles manufacturing segments.

The government of India has built up an investment potential of around USD 1.14 billion for promoting its National Electric Mobility Mission Plan 2020. The government has also planned to initiate the second phase of its FAME Scheme (Faster Adoption and Manufacturing of Hybrid and Electronic Vehicles) in the region, which is likely to contribute to the revenue graph of APAC microporous insulation market share.

Rising technological innovations by major industry players

Key industry players in the microporous insulation market have been focusing on the deployment of highly engineered solutions to major sectors including aerospace, medical instruments, satellite communications, power generation, fire protection, and others.

Morgan Advanced Materials has devised its Flexible Min-K thermal insulation unit for use in auxiliary power unit enclosures. The product is known to prevent heat loss, improve the consistency of internal operating temperature, increase operating efficiency, and protect outer casing. Similar such initiatives by major vendors are likely to enhance the product demand over the next few years.

Increasing emphasis on energy efficiency for product usage in the construction sector

According to the Buildings Performance Institute Europe (BPIE), deep renovation of buildings is estimated to lower up to 36 per cent of their energy consumption by 2030, while decreasing dependency on imports, further fueling growth, innovation and employment in the European Union. Several insulation materials are finding increasing use for energy applications in near-zero-energy buildings as well as in refurbishment or retrofitting construction projects.

With more and more emphasis being laid on energy-efficient building construction, microporous insulation market is likely to depict an accelerating growth rate with change in energy trends.

Drivers likely to influence microporous insulation market size

Rising inclination towards sustainable industrialization is likely to enhance the demand for microporous insulation products in stoves, furnaces, and chimneys for regulating high temperatures and building thermal shock resistance. The product usage is also expected to increase across the sectors of glass manufacturing, metal works, and other owing to the rising energy demand in developing countries.

A remarkable growth has also been registered in the demand for microporous insulation products made from calcium magnesium silicate, witnessing their environmental and user-friendly nature.

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Growth prospects of microporous insulation market

The microporous insulation industry is expected to depict an appreciable growth potential taking into consideration the increasing emphasis over energy efficiency. The energy and power segment in this market is expected to witness a CAGR of 17 per cent over 2019-2025 due to the surging energy demand for the globally increasing population.

Restraints likely to hinder microporous insulation industry growth

Higher prices of advanced insulation materials such as aerogels and nanocoating as compared to the conventional solutions, in addition to high capital requirements and surging operational costs are potential restraints that likely to hinder market expansion.

In essence, the microporous insulation market has immense growth potential in view of the recent technological advancements and the globally increasing energy consumption requirements. Major industry players including Aspen Aerogels, Unifrax, ThermoDyne, Etex Building Performance, and others have been effectively working on product innovations to meet rising demand in the ensuing years.

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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