NEW YORK, April 30, 2019 /PRNewswire/ -- The microporous insulation market is projected to register a CAGR of 4.7% during the forecast period.
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The microporous insulation market size is projected to grow from USD 132 million in 2018 to USD 165 million
by 2023.Growing demand for microporous insulation in industrial application and high thermal resistance and weight and space-saving property of microporous insulation are expected to drive the demand for microporous insulation during the forecast period.However, lack of awareness about the use of microporous insulation acts as a challenge to the growth of the microporous insulation market.The industrial application segment is expected to lead the microporous insulation market, in terms of value, during the forecast period.The industrial application segment, by application, is expected to lead the microporous insulation market during the forecast period.This is due to an increase in the demand for microporous insulation in various applications, such as furnaces, bakes, ladles, foundry, boilers in iron & steel, non-ferrous metal, cement, ceramic, and glass industries.In addition, rapid industrialization in APAC and South America is projected to drive the demand for microporous insulation in this application segment.Rigid boards & panels is expected to be the largest product type segment in the microporous insulation market, in terms of value, between 2018 and 2023.The rigid boards & panels product type segment is expected to lead the microporous insulation market during the forecast period.This is because the rigid boards & panels have extremely low thermal conductivity and high thermal stability because of which they are used in different temperature-sensitive and critical applications.In addition, it has a growing demand from different applications, such as industrial furnaces, thermal batteries in the energy & power sector, and voyage data recorder in aerospace & defense, among other sectors.Europe is projected to lead the microporous insulation market, in terms of value, between 2018 and 2023.The microporous insulation market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa.Europe is expected to lead the microporous insulation market during the forecast period, owing to the rising awareness to conserve energy in the region.In addition, the presence of stringent regulations regarding the use of insulation materials, which comply with Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and European Dangerous Substances Directive Amendment 97/69/EC, drive its demand in the region. Furthermore, the growing demand for insulation materials, which can withstand high temperatures and the presence of various manufacturers of microporous insulation in the region also drive its demand.Breakdown of Primary interviews:Primary interviews have been conducted with a number of industry experts to obtain information related to the microporous insulation market. The breakdown of primary interviews has been depicted below:• By Company Type: Tier 1: 70%, Tier 2: 25%, and Tier 3: 5%• By Designation: C-Level Executives - 11%, Directors - 60%, and Others - 29%• By Region: Asia Pacific - 54%, Middle East & Africa- 21%, Europe- 12%, Americas – 13%Key companies supplying microporous insulation are:• Promat International N.V. (Belgium), Owens Corning (US)• Morgan Advanced Materials plc (UK)• Isoleika S. Coop. (Spain)• Unicorn Insulations Limited (China)• Guangzhou Huineng Environmental Protection Materials Co. Ltd. (Siltherm) (China)• Johns Manville (US)• NICHIAS Corporation (Japan)• ThermoDyne (US)• Unifrax (US)• Elmelin Ltd. (UK)Research CoverageThis report segments the microporous insulation market on the basis of product type, application, and region.It provides estimations for the overall value of the microporous insulation market and its subsegments across various regions.A detailed analysis of key players in the microporous insulation market has been conducted to provide insights into their businesses, products & services offered, key growth strategies adopted, and recent developments, such as expansion, acquisition, investment, and new product launch, undertaken by them.Reasons to Buy this ReportThis research report is focused on various levels of analysis — industry analysis (industry trends), market ranking of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the microporous insulation market; high-growth regions; and market drivers, restraints, opportunities, and challenges.The report provides insights on the following pointers:• Market Penetration: Comprehensive information on microporous insulation offered by top players in the global microporous insulation market• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launch in the microporous insulation market• Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the microporous insulation market across regions• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global microporous insulation market• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the microporous insulation marketRead the full report: https://www.reportlinker.com/p05773289/?utm_source=PRN
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