APAC to dominate the microporous insulation market

Microporous insulation is a composite material comprising of a blend of ceramic powders and fibers, with an average interconnecting pore size comparable to or even less than the mean free path of air molecules at standard atmospheric pressure. It may contain opacifiers to reduce the amount of the radiant heat transmitted. The microporous insulation material is inorganic making it non-combustible and suitable for passive fire protection applications. It is ideal for any high-temperature application and has been used in aerospace, automotive, industrial, and commercial markets where space and weight conservation are critical requirements without compromising the thermal performance.

The rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the APAC region offer various opportunities regarding the use of microporous insulation. Also, the increase in demand for energy, power, metal, and automotive, is expected to drive the market. The microporous insulation market is significantly driven by the oil & gas segment, where there is a high demand for advanced insulation solutions, having a reduced thickness and low thermal conductivity.

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% during the forecast period. Its unique property of space and weight conservation in the aerospace & defense application will drive the growth of this market.

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 key players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), Nichias Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK).

Browse 106 market data Tables and 37 Figures spread through 138 Pages and in-depth TOC on “Microporous Insulation Market by Product Type (Rigid boards & panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive), and Region – Global Forecast to 2023”
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Infrastructure development in emerging economies drives the demand in the microporous insulation market

Infrastructure development is one of the major activities undertaken in any economy. Emerging economies are investing significantly in infrastructure development, owing to modernization and industrialization. Iron & steel is required for the construction of buildings, rails, and metros, among other infrastructures. Microporous insulation is used in back-up lining and furnaces, which, in turn, drives the demand in the microporous insulation market. The emerging economies are not only investing in the domestic infrastructure but are also seeking opportunities for foreign investments. China is the biggest trading partner of Brazil, Argentina, Peru, and Chile, investing in everything ranging from energy to aircraft and infrastructure. Similar agreements have been signed between India and China for the development in sectors including railways, renewable energy, and industrial parks. These factors are expected to drive the demand in the microporous insulation market.

The microporous insulation market size is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a compound annual growth rate (CAGR) of 4.7%, during the forecast period. The major driving factors in the microporous insulation market are high thermal resistance of microporous insulation material and increasing demand from various applications, such as industrial, oil & gas, energy & power, and automotive.

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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 in APAC is projected to register the highest CAGR, in terms of value, between 2018 and 2023. The rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region offer various opportunities regarding the use of microporous insulation. Also, the increase in demand for energy, power, metal, and automotive, is expected to drive the market. The microporous insulation market is significantly driven by the oil & gas segment, where there is a high demand for advanced insulation solutions, having a reduced thickness and low thermal conductivity.

The key players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), Nichias Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK).

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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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Aerospace & defense application segment of the microporous insulation market is projected to register the highest CAGR- Global Forecast 2023

The microporous insulation market is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a CAGR of 4.7%, during the forecast period. 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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 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.  

Europe is projected to account for the largest share of the microporous insulation market during the forecast period.

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.  

Recent Developments

• In July 2014, Morgan Advanced Materials acquired Porextherm Dämmstoffe GmbH (Germany), one of the leading manufacturers of microporous insulation panels. This helped the company to strengthen its product portfolio of microporous insulation and vacuum insulation panels.
• In May 2014, Industrial Insulation Group, LLC (US), a subsidiary of Johns Manville, launched InsulThin, a high temperature, flexible, hydrophobic, microporous, and fumed silica blanket insulation. The new product launch helped the company to broaden its industrial insulation product portfolio.
• In March 2014, Promat International opened Nippon Microtherm Factory in Tsu City, in Japan. The expansion helped the company to strengthen its high-performance insulation product business.

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Promat International N.V. (Belgium) and Morgan Advanced Materials plc (UK) are the Major Players in the Microporous Insulation Market

The microporous insulation market size is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a compound annual growth rate (CAGR) of 4.7%, during the forecast period. The major driving factors in the microporous insulation market are high thermal resistance of microporous insulation material and increasing demand from various applications, such as industrial, oil & gas, energy & power, and automotive.

The major players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), NICHIAS Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK). These players have adopted various growth strategies, such as expansion, acquisition, new product launch, and investment, to expand their presence further and increase their shares in the microporous insulation market. Expansion has been the most adopted strategy by major players between 2013 and 2018, which helped them to expand their regional presence.

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Promat International N.V. is one of the leading manufacturers of microporous insulation, globally. The company focuses on the strategies of expansion and investment to maintain its leading position in the market. For example, the company recently opened a new facility in the Middle East at Dubai Investment Park (DIP). The new facility has significant capacity for Promat boards, fire stopping, and High Performance Insulation (HPI) products, which include microporous insulation. In addition, in October 2013, Etex Group, the parent company of Promat International invested USD 13.27 million in its subsidiary, Microtherm NV (Belgium). This investment helped the company to expand its microporous insulation segment and enter various niche markets using high-temperature insulation products.

Morgan Advanced Materials plc is another major player in the microporous insulation market. The company focuses on improving its operational execution and driving its sales by managing its resources, customers, and distribution channels. The company has focused on the strategies of acquisition as part of its growth. For instance, in July 2014, Morgan Advanced Materials acquired Porextherm Dämmstoffe GmbH (Germany), one of the leading manufacturers of microporous insulation panels. This acquisition helped Morgan Advanced Materials to strengthen its product portfolio of microporous insulation and vacuum insulation panels. Thus, the acquisition helped the company to strengthen its microporous insulation business.

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Microporous Insulation Market by Product Type (Rigid boards & panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive), and Region – Global Forecast to 2023