Microporous Insulation Market – By Material (Alumina Silica and Calcium Magnesium Silicate), By Product (Rigid Board & Panel and Flexible Panel), By End-Use Industry (Oil & Gas, Metal Works, Energy & Power, and Transportation)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 – 2029

                                          
Abstract


The global microporous insulation market was estimated at nearly 395 (USD Million) in 2018 and to grow at a CAGR of over 17.5% during the period from 2019 to 2025. The report offers valuation and analysis of surface protection tapes market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, revenue estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).
Introduction

The globe is experiencing a humungous need for power savings in myriad spheres. With buildings & constructions consuming a major chunk of the total energy, it has become imperative for the government & builders to ideate plans & framework for developing cost-effective energy saving measures such as thermal building insulation material solutions. Even though solar photovoltaics, as well as wind energy, have proved to be cost-efficient measures, they are far less cost-efficient as compared to insulation retrofit for buildings & constructions. This is likely to sketch a favorable scenario for the microporous insulation activities over the coming years, thereby assisting microporous insulation market gain traction in the foreseeable future.

Furthermore, governments of various countries across the globe are focusing on acquiring the highest possible thermal insulation values. This implies that acquiring the lowest thermal conductivity as well as the lowest thermal transmittance for materials. With microporous insulation exhibiting high-performance thermal insulation features, it is possible to achieve the highest possible thermal insulation values for the state authorities. For instance, microporous insulation product types can help in acquiring the highest possible R-value for buildings & construction activities. All these aforementioned factors will pave a way for lucrative growth of the microporous insulation market over the forecast timeline.

Key Growth Driving Factors

The growth of the microporous insulation industry over the forecast period is attributed to the beneficial features of the microporous insulation products such as low thermal conductivity, low heat storing capacity, long-term durability, and high compression resistance. Apart from this, key firms such as Fuel Cell Technologies Nuvera, FuelCell Energy, and Plug Power make use of microporous insulation to fulfill thermal management requirements for their fuel cell systems. Apparently, microporous insulation offers benefits like reduction in heating time, enhanced temperature control, and an increase in efficacy due to heat loss minimization in the myriad high temperature fuel cell applications.

In addition to this, microporous insulation finds a spectrum of applications in residential constructions, commercial & industrial edifices, motor vehicles, and electrical & electronic equipment. This will amplify the growth of the microporous insulation market over the forecast timeline.

North America and Europe To majorly Contribute Towards Overall Market Share By 2025

According to the U.S. Environmental Protection Agencys Energy Star Program, the addition of insulation & sealing of air can help the households in the U.S. save nearly 15% of heating & cooling prices. As per the U.S. department of energy, space heating & cooling activities contribute to nearly 50% of the energy consumption of the households, while heating of water contributes nearly 17% to 18% of the overall power consumption of homes in the United States. This aspect is likely to prompt the demand for microporous insulation in the U.S., thereby crafting an upward tending growth diagram for the microporous insulation market in North America.

Moreover, heating & cooling of commercial constructions such will office buildings, rental constructions, lodging & boarding structures, and educational institutes account for nearly 10% of the overall U.S. energy use. This will further pave the way for the growth of the microporous insulation industry in the U.S. over the forecast period. Apparently, the production, distribution, utility, and deployment of the microporous insulation are projected to translate into ecological & monetary benefits for the countries like the U.S. Moreover, it will not promote the economic activities but also result in job creation across the region. All these aforementioned aspects will chart a profitable roadmap for the microporous insulation industry in the North American sub-continent.

In addition to this, the building retrofit has become an activity of core importance and a key focus for many of the EU countries. The reason being the need for reducing carbon emissions for fulfilling the Kyoto protocol. For the record, the EU has committed towards a reduction of heat energy in constructions as well as minimization of GHG emissions by nearly 50% and 80% respectively by 2050 in comparison to 1990. This will result in a home being retrofitted each minute. Research studies have suggested that this target can be achieved through a surge in the use of insulation products during building retrofit. This, in turn, is likely to generate lucrative growth avenues for the microporous insulation industry in Europe.

Furthermore, the demand for microporous insulation is likely to gain traction in countries like the UK as the result of high thermal insulation features of microporous insulation products and the use of microporous insulating materials offering low thermal conduction.  Moreover, the microporous insulation materials also find a slew of applications as per the building energy codes in the UK, thereby driving the microporous insulation market demand in the UK as well as Europe.

Key players profiled in the microporous insulation industry are Etex Building Performance NV, NICHIAS Corporation, Aspen Aerogels, Inc., ThermoDyne, Morgan Advanced Materials, Kingspan Insulation LLC, Unifrax LLC, Johns Manville, and Unicorn Insulations Ltd.

The global microporous insulation market can be segmented as follows:

By Material

  
Alumina Silica
  
Calcium Magnesium Silicate

By Product

  
Rigid Board & Panel
  
Flexible Panel

By End-Use Industry

  
Oil & Gas
  
Metal Works
  
Energy & Power
  
Transportation

By Region

North America

  
The U.S.
  
Canada

Europe

  
France
  
The UK
  
Spain
  
Germany
  
Italy
  
Rest of Europe

Asia Pacific

  
China
  
Japan
  
India
  
South Korea
  
Southeast Asia
  
Rest of Asia Pacific

Latin America

  
Brazil
  
Mexico
  
Rest of Latin America

Middle East & Africa

  
GCC
  
South Africa

Rest of Middle East & Africa