Microporous Insulation Market by Product Type (Rigid Boards & Panels, Flexible Panels, Machined Parts, Moldable Products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive, Foundry) - Global Forecast to 2022
“Increasing demand for microporous insulation panels from end-use industries such as oil & gas, metal, energy, and aerospace is driving the growth of the microporous insulation market”
The microporous insulation market is estimated to be USD 983.6 million in 2017 and is projected to reach USD 1,232.8 million by 2022, at a CAGR of 4.62% from 2017 to 2022. The growth of this market is mainly attributed to the rise in infrastructural developments in emerging countries, such as China, India, and Brazil. Furthermore, the increasing demand for microporous insulation materials from glass and cement industries is another significant factor driving the growth of the microporous insulation market. However, the high production cost of microporous insulation panels acts as a restraint to the growth of the market.
“The flexible panels segment accounted for the largest share of the microporous insulation market”
The flexible panels segment accounted for the largest share of the microporous insulation market in 2016. This large share is mainly attributed to energy efficiency requirements, as governments of various countries and organizations worldwide need to comply with international norms and regulations.
“Europe accounted for the largest share of the microporous insulation market in 2016”
On the basis of region, the microporous insulation market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Europe is considered to be the largest market for microporous insulation, owing to the increasing demand for microporous insulation materials for various high-temperature applications in the oil & gas, energy & power, and metal & glass industries. In addition, Asia-Pacific accounted for the second-largest share of the microporous insulation market in 2016; the market in this region is projected to grow at the highest CAGR between 2017 and 2022. This growth is mainly attributed to the expansion of major end-use industries such as oil & gas, energy, transportation, and automotive.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts to collect information related to the microporous insulation market. The breakdown of primary interviews is depicted below:
• By Company: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
• By Designation: C Level - 21%, Director Level - 23%, and Others - 56%
• By Region: North America – 30%, Europe - 18%, Asia-Pacific - 41%, and South America and Middle East & Africa - 11%
Key companies supplying microporous insulation materials and related products are given as follows:
• Promat HPI (Belgium)
• Morgan Advanced Materials (U.K.)
• Isoleika S. Coop. (Spain)
• Johns Manville (U.S.)
• Unifrax LLC (U.K.)
• NICHIAS Corporation (Japan)
• TECHNO PHYSIK Engineering GmbH (Germany)
• Elmelin Ltd. (U.K.)
• Unicorn Insulations Ltd. (Hong Kong)
• ThermoDyne (U.S.)
This report segments the microporous insulation market on the basis of product type, application, and region, and provides estimations for the overall value of the market and its subsegments across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overview, products & services, key growth strategies, and recent developments (such as expansions, new products & technology launches, acquisitions, partnerships, agreements, and joint ventures) associated with the microporous insulation market.
REASONS TO BUY THE REPORT:
This report will help leaders/new entrants in this market in the following ways:
• To analyze and have a better understanding of the microporous insulation market
• To provide information on key market drivers, restraints, challenges, and opportunities
• To gain insights regarding competitors and their position in the microporous insulation market
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