Increase in demand for high thermal resistant insulation materials driving the Market of Microporous Insulation

Microporous insulation is high-temperature insulation, which provides extremely low thermal conductivity over a temperature ranging from 0.021 w/m.k (watt/meter/Kelvin temperature) to 0.034 w/m.k at a mean temperature of 800°C.

Materials	Thermal Conductivity(W/m.K) at 800 °C
Fiber Blanket	0.20
Calcium Silicate	0.17
Aerogel Blanket	0.10
Still Air	0.085
Microporous Insulation	0.025

As compared to conventional insulation materials, such as glass-filled foams, fibers, and metals, microporous insulating materials have a thermal efficiency that is four to five times greater. The superior thermal resistance of microporous insulation shows enormous potential in oil & gas applications, where insulation is of prime importance. Besides excellent thermal performance, microporous insulating materials have significant resistance to flame and extreme weather conditions.

Also, as per the International Energy Agency, the global oil & gas sector is expected to witness considerable growth until 2020 due to increasing demand from the automotive and aviation industries. The growing oil & gas sector requires advanced insulation materials for transporting oil & gas to distant areas.

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The global microporous insulation market size was USD 125.8 million in 2017 and is projected to reach USD 165.4 million by 2023, at a CAGR of 4.7%. Additionally, the microporous insulation market is expected to grow from 3,800 metric tons in 2018 to 4,608 metric tons by 2023, at a CAGR of 3.9%. Its unique property of space and weight conservation in the aerospace & defense application will drive the growth of this market during the forecast period.

The aerospace & defense application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. The demand for microporous insulation is increasing in the aerospace application due to increasing demand for light-weight materials, which in turn, saves the fuel consumed during operation of an aircraft. In addition, the use of microporous insulation provides high performance and helps to meet the space and weight specifications in the aerospace sector. It is the most demanding sector in terms of performance & reliability due to operational and safety reasons.

The microporous insulation market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR, in terms of value, during the forecast period. The growth of the microporous insulation market in the region is attributed to the rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region. In addition, increase in the demand for energy, power, metal, and automobiles is also expected to drive the market.

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