The microporous insulation market is projected to grow from USD 125.74 Million in 2017 to USD 157.59 Million by 2022, at a CAGR of 4.62% during the forecast period. The growth of this market is primarily attributed to the superior properties of microporous insulation materials such as excellent thermal performance, hydrophobic nature, and good resistance to flame and weather. In addition, the high demand for microporous insulation materials from several industries, such as iron & steel, glass, and cement is contributing to the growth of the microporous insulation market.
The microporous insulation market has been segmented on the basis of product type, application, and region. On the basis of product type, the flexible panels segment is projected to grow at the highest CAGR during the forecast period. Flexible microporous insulation panels are used in high heat and compact scenarios that require less space for insulation.
On the basis of application, the microporous insulation market has been classified into industrial, energy & power, oil & gas, aerospace & defense, and others (that include automotive, foundry, and consumer appliances). The oil & gas segment is projected to grow at the highest CAGR between 2017 and 2022. Transportation of oil through pipelines necessitates the use of advanced insulation materials, thereby contributing to the growth of the microporous insulation market.
Based on region, the microporous insulation market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The market in the Asia-Pacific region is projected to grow at the highest CAGR from 2017 to 2022. Rapid industrialization, infrastructural developments, and increase in demand for microporous insulation from various industries such as oil & gas, power & energy, aerospace & defense, and automotive are factors driving the growth of the microporous insulation market in the Asia-Pacific region.
Anhui Ningguo Hantai New Materials Limited Company
Beijing North Refractories Co., Ltd.
Isoleika S. Coop.
Johns Manville Corporation
Kingspan Group PLC
Laizhou Mingguang Thermal Insulation Material Co. Ltd.
Langfang Chaochen Thermal Insulation Material Co., Ltd.