Microporous Insulation Market To Reach USD 195.6 Million By 2026 | Reports And Data
Rapid industrialization, infrastructural developments weight and space saving properties, brilliant thermal performance, hydrophobic nature, increasing demand for glass, cement, iron & steel are key factors contributing to high CAGR of Pruritus Therapeutics during forecast period.
Market Size – USD 132 million in 2018, Market Growth - CAGR of 5.6%, Market Trends – Product launches and research for advanced microporous insulation
NEW YORK, June 06, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global microporous insulation market was valued at USD 132 million in 2018 and is expected to reach USD 195.6 million by year 2026, at a CAGR of 5.6%. Microporous insulation is a highly thermal efficient material which has a thermal conductivity less than that of still air. The materials comprise of fine diameter heat resistant particles, high temperature radiation blockers, reinforcement fibres. The components within these materials are appropriately sized and configured to create a microporous structure, which limits the number and movements of air particles, creating a material of exceptionally low thermal conductivity. Key developments in this sector comes from one of the leading companies in microporous insulation market, Morgan advanced materials. The launch of Min K microporous insulation by Morgan advanced materials is the best option for difficult-to-insulate areas where weight is critical and working space is less.
The global microporous insulation market is propelled by number of factors such as its good resistance to flame and weather, weight and space saving properties, brilliant thermal performance, hydrophobic nature. In addition to this, increasing infrastructural development and industrialization, increasing demand for materials such as glass, cement, iron & steel has led to an increase in the growth of microporous insulation. Also, preference of light weighted insulating materials over traditional materials is further leading to growth in this industry.
Further key findings from the report suggest
Microporous insulation material provides best energy conservation and alumina based microporous insulation material which provides advanced insulation with ultra-low thermal conductivity.
Using microporous insulation materials has many advantages. For instance, it minimizes heat loss related to energy saving, or reheating issues, consistency of operating temperatures may result into a much more consistent final product and further leads to much easier procedure to regulate. In addition to this, Minimum space requirements for an equivalent temperature drop across the insulation component, microporous material may need as little as 1 /4 the thickness compared to traditional fibrous material (at elevated temperatures).
Europe is the largest player in microporous insulation market because of its rising awareness to conserve energy in the area. It holds the total market share of 28.9% in microporous insulation market. Further due to the presence of strict regulations regarding the use of insulation materials which fulfill Registration Evaluation Authorization and Restriction of Chemicals (REACH) & European dangerous substances Directive Amendment 97/69/EC increase its demand in the region.
The second largest market share is held by North American region (37.2%). The Latin American and middle east countries hold the lowest share in microporous insulation market owing to its lack of awareness regarding microporous insulation.
The rigid boards and panel have the highest share of the total market which accounts for 48% because of its qualities such as extremely low thermal conductivity and high thermal stability. Thus, they are used in different temperature-sensitive and critical applications. Followed by rigid boards and panel, Flexible panels hold 33.9% of the total market share. Flexible panels are expected to grow rapidly especially in the Middle East and Africa region owing to well flourished oil and gas industries.
The feeder bowl kits, pourable parts vacuum insulated panels hold the lowest share in the global market.
The industrial application for the microporous insulations has the largest market share which accounts for the 35.4%. Oil and gas segment account for 24.3% of the total market share.
Isoleika Co-op is one of the leading players which provides 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 global thermal solution providers in the world.
Unicorn Insulations is one of the largest companies in China. The company aims on developing high performance thermal insulation as it focuses to solve the world’s major challenges such as energy availability, and global warming among others.
Key players in this industry include Promat international N.V, Isoleika S. Co-op, Morgan Advanced materials, unicorn insulation limited, Guangzhou Hueing Environmental Protection materials Co. Ltd, Nichias corporation, Thermodyne, Unifrax, John Malville.
High operational and manufacturing cost, lack of awareness about the microporous insulation materials are some of the challenges this marker faces.
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