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), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025

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

19-Feb-2020 | Number of pages: 110 | Report Code: ZMR-5274 | Report Format : | Status : Published

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).

Details of the Report:

Report Metric

Details

Base Year

2018

Historical Data

2016 and 2017

Forecast period

2019-2025

Market Representation

Earnings provided in terms of USD Million and CAGR estimated from 2019 to 2025

Segments Analyzed

By Material, By Product, By End-Use Industry, and By Region

Regions Analyzed

North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa

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 Agency’s 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

Frequently Asked Questions

According to this research report, the size of the market is USD 450 Million

Beneficial product features including low thermal conduction, durability, high compression resistance, and low heat storing capacity

For instance ThermoDyne has a strong position in market in terms of both revenue and size. A firm can enhance its position in the market through adoption of both key business strategies like differentiation, overall cost leadership, and focus on niche target segment

Competitors face challenges such as inconsistent government legislations, environmental concerns, mobility barriers, oscillations in demand & supply of raw materials and payoff problems

There are three modes of entry, namely, entry through internal development such as joint ventures, entry through acquisition, and sequenced entry


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