The global microporous insulation market size will grow by USD 34.94 million during 2019-2023. This market report provides a detailed analysis of the market by application (industrial, energy and power, oil and gas, aerospace and defense, and other applications) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many microporous insulation manufacturers, including Advanced Ceramics Corp., Berkshire Hathaway Inc., Elmelin Ltd., Etex SA-NV, Inproheat Industries Ltd., Kingspan Group Plc, Laizhou Mingguang Thermal Insulation Materials Co. Ltd., Morgan Advanced Materials Plc, NICHIAS Corp., and Thermo Dyne.
Key Insights on Microporous Insulation Market – Global Forecast 2019-2023
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Industry Overview
Microporous insulation has several applications in the aerospace industry because of lightweight and thermal management properties and fire protection capabilities. They are used in heat shields, engine, exhaust insulation, and various other components in the aircraft. Microporous insulation materials reduce heat transmission by absorbing and reflecting the radiant heat. They are also non-combustible, which makes them best suitable in fire protection applications. With the rise in production of aircraft, the demand for microporous insulation is increasing in the aerospace industry. This is one of the key factors that will drive the growth of microporous insulation market size during the forecast period.
The growth of the automobile industry is another major factor that will drive market growth over the forecast period. Microporous insulation is used in many interior as well as exterior components such as exhaust systems, catalytic converters, and diesel particle filters to provide thermal insulation to vehicles. Microporous insulation also ensures pressure resistance and vibration resistance and improves acoustic characteristics in the vehicle, which aids in the reduction of design costs. Moreover, their lightweight helps in increasing fuel efficiency in vehicles. The growth of the automobile industry in countries such as China, India, France, Italy, South Korea, Japan, and the US is increasing the demand for microporous insulation materials. The microporous insulation market forecast predicts that as a result of these factors, the market will register a CAGR of nearly 5% during 2019-2023.
Top Companies in Microporous Insulation Market
The global market is fragmented. To help clients improve their market positions, this microporous insulation market analysis report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This report also includes information on the upcoming microporous insulation market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading microporous insulation manufacturers, including:
- Advanced Ceramics Corp.
- Berkshire Hathaway Inc.
- Elmelin Ltd.
- Etex SA-NV
- Inproheat Industries Ltd.
- Kingspan Group Plc
- Laizhou Mingguang Thermal Insulation Materials Co. Ltd.
- Morgan Advanced Materials Plc
- NICHIAS Corp.
- Thermo Dyne
Market Segmentation
Microporous Insulation Market by Application
- Industrial
- Energy and power
- Oil and gas
- Aerospace and defense
- Other applications
The industrial segment will account for the highest microporous insulation market share over the forecast period. The rise in number of cement and iron and steel manufacturing plants across the world is increasing the demand for microporous insulation. The growth of such industries will increase the demand for microporous insulation from this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the microporous insulation market size.
Microporous Insulation Market by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that Europe will account for the highest share of the microporous insulation market throughout the forecast period. The region is witnessing an increase in the number of power plants in countries such as the UK and Germany. The new power plants are expected to be completely operational from 2020. This has increased the demand for microporous insulation in the region, thereby driving microporous insulation market growth in Europe.
Major Highlights of the Microporous insulation Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the microporous insulation market size during the next five years
- Precise estimation of the global microporous insulation market size and its contribution to the parent market
- Accurate microporous insulation market forecast on upcoming trends and changes in consumer behavior
- The growth of the microporous insulations industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of microporous insulation manufacturers
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