Microporous Insulation Market Size, Share, Growth, Trends, and Forecast 2030

Microporous Insulation Industry Prospective:

The global microporous insulation market size was evaluated at $160 million in 2022 and is slated to hit $240 million by the end of 2030 with a CAGR of nearly 5% between 2023 and 2030.

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Microporous Insulation Market: Overview

Microporous insulation is a compound comprising of integration of fibers and ceramic powders with an average interconnection pore size which can be lesser than the average free path of molecules of air at a particular atmospheric pressure. The product comprises opacifiers for reducing the proportion of transmission of radiant heat. The product material is inorganic and this makes it non-combustible & suitable for applications that can offer protection against fire outbreaks. Furthermore, microporous insulation is suitable for high-temperature applications in aviation, commercial, and automotive sectors.  

Key Insights

• As per the analysis shared by our research analyst, the global microporous insulation market is projected to expand annually at the annual growth rate of around 5% over the forecast timespan (2023-2030)
• In terms of revenue, the global microporous insulation market size was evaluated at nearly $160 million in 2022 and is expected to reach $240 million by 2030.
• The global microporous insulation market is anticipated to grow rapidly over the forecast timeline owing to a surging preference for thermal resistance in the oil & gas sector.
• In terms of product type, the flexible panels segment is slated to register the highest CAGR over the analysis period.
• Based on application, the aerospace & defense segment is projected to record a massive surge in the coming years.
• Region-wise, the European microporous insulation industry is expected to register the fastest CAGR during the assessment timeline.

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Microporous Insulation Market: Growth Factors

Rising demand for heat resistance in the oil & gas sector to boost global market trends 

Surging preference for thermal resistance in the oil & gas sector will steer the growth of the global microporous insulation market.  The growth of the market across the globe over the forecast period is attributed to the beneficial features of microporous insulation products such as low thermal conductivity, low heat-storing capacity, long-term durability, and high compression resistance. Additionally, key players such as FuelCell Energy, Fuel Cell Technologies Nuvera, and Plug Power make use of microporous insulation to fulfill thermal management requirements for their fuel cell systems. This, in turn, will aid in the growth of the market across the globe. Furthermore, microporous insulation provides advantages including a reduction in the heating time, a rise in the efficiency by reducing heat loss, and improved temperature control. This, in turn, will embellish the global market trends.

Apart from 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 market across the globe over the forecast timeline. New product launches will further culminate into a humungous expansion of the market across the globe. Citing an instance, Nichias Europe, a key player providing highly specialized products, launched high-performance microporous insulation referred to as ROSLIMTM Board GH. Reportedly, the product provides high-temperature insulation, excellent board strength, best-class machinability, and reduced dusting. Such strategic moves will embellish the expansion of the market globally.

Microporous Insulation Market: Restraints

Escalating environmental concerns to impede the global industry expansion over 2023-2030

A prominent surge in the production costs of panels and microporous insulation boards can put brakes on the expansion of the microporous insulation industry globally. Furthermore, growing environmental concerns forcing the government to implement strict legislation related to the toxicity of insulation substances can restrict the expansion of the global industry. Moreover, microporous insulation's thermal conductivity is lesser than the thermal conductivity of still air at extreme temperatures and this can prove as a key factor that is likely to impact the growth of the global industry in the forthcoming years.

Microporous Insulation Market: Opportunities

Favorable product features to generate new avenues of growth for the global market over the forecast period

Beneficial features such as resistance to extreme temperatures, low thermal conductivity, and low costs will generate new growth avenues for the microporous insulation market across the globe. A surge in the use of microporous insulation in the aluminum, petrochemical, glass, ceramics, steel, and cement sectors will steer the expansion of the global market in the years ahead. With microporous insulation products helping in acquiring the highest possible R-value for buildings & construction activities, the market for microporous insulation is projected to gain traction in the years ahead. Escalating demand for lightweight materials can prop up the scope of the market growth globally in the years to come.

Microporous Insulation Market: Challenges

Less knowhow of the product in developing countries can put a big challenge for the global industry surge by 2030

Low awareness and acceptance of the product in emerging economies can interrupt the expansion of the microporous insulation industry across the globe in the years ahead. Furthermore, microporous insulation finds application only when space is a big constraint and low thermal conductivity is needed. This is likely to prove as a major challenge for the global industry in the years to come.

Microporous Insulation Market: Segmentation

The global microporous insulation market is sectored into product type, application, and region.

In product type terms, the global microporous insulation market is segregated into rigid boards & panels, machined components, flexible panels, and moldable products segments. Furthermore, the flexible panels segment, which acquired approximately 44% of the global market share in 2022, is prognosis to record the fastest rate of growth over the forecast timeline. The growth of the segment during 2023-2030 can be credited to outstanding dimensional stability and enhanced mechanical resistance to impact & vibration provided by flexible panels. Apart from this, flexible panels are power-efficient and can be easily handled and transported.

Based on the application, the global microporous insulation industry is sectored into oil & gas, energy & power, aerospace & defense, industrial, and automotive segments. Moreover, the aerospace & defense segment, which accumulated the largest share of the global industry in 2022, is predicted to dominate the segmental space during the forecast timeline. The expansion of the segment in the coming eight years can be owing to the rise in the use of lightweight products in aerospace as well as defense equipment. Moreover, the use of the product in the aerospace & defense segment helps in reducing fuel usage in aircraft and helps in improving the aircraft performance.

Microporous Insulation Market: Report Scope

Microporous Insulation Market: Regional Insights

North America is predicted to maintain its domination in the global microporous insulation market over the forecast timeline

North America, which acquired about three-fifths of the global microporous insulation market revenue share in 2022, is predicted to dominate the regional space in the coming years. Additionally, the regional market surge over the years ahead can be ascribed to the massive use of products in automotive as it helps in reducing friction, vibration resistance, and surface temperature. Apart from this, the presence of giant firms in the sub-continent will account majorly to the regional market size. Furthermore, recent innovations in the production processes witnessed in countries such as the U.S. will contribute lucratively towards the expansion of the market in the region.  

According to the U.S. Environmental Protection Agency’s Energy Star Program, the addition of insulation & sealing of air can help 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 households, while heating of water contributes nearly 17% to 18% of the overall power consumption of homes in the United States of America. This aspect is likely to prompt the demand for microporous insulation in the U.S., thereby crafting an upward-tending growth diagram for the 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 market in the U.S. over the forecast period. Apparently, the production, distribution, utility, and deployment of microporous insulation are projected to translate into ecological & monetary benefits for countries such as the U.S. Moreover, it will not only promote economic activities but also result in job creation across the region. All these aforementioned aspects will chart a profitable roadmap for the market in the North American sub-continent.

The European microporous insulation industry is set to register the highest CAGR in the ensuing years subject to huge product penetration in the countries such as the UK. Moreover, microporous insulation materials also find a slew of applications as per the building energy codes in the UK, thereby driving the demand for microporous insulation products in the UK.

Moreover, the high thermal insulation characteristics of microporous insulation products and large-scale demand for these products have proliferated the size of the industry in the continent. In addition to this, building retrofit has become an activity of core importance and a key focus for many of the EU countries. The reason is the need to reduce carbon emissions to 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 industry in Europe.

Microporous Insulation Market: Competitive Space

The global microporous insulation market profiles key players such as:

• Etex Building Performance NV
• NICHIAS Corporation
• Aspen Aerogels Inc.
• ThermoDyne
• Morgan Advanced Materials
• Kingspan Insulation LLC
• Unifrax LLC
• Johns Manville
• Unicorn Insulations Ltd.

The global microporous insulation market is segmented as follows:

By Product Type

• Rigid Boards & Panels
• Machined Components
• Flexible Panels
• Moldable Products

By Application

• Oil & Gas
• Energy & Power
• Aerospace & Defense
• Industrial
• Automotive

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