Microporous Insulation Market To Reach $218.5 Million By 2030

Microporous Insulation Market Growth & Trends

The global microporous insulation market size is expected to reach USD 218.5 million in 2030 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. The rapid growth of the end-use industries has been a major factor driving the global market.

 Energy & power industry has been witnessing significant growth in power generation from renewable energy. Thermal insulation is one of the vital requirements during manufacturing on account of high levels of heat emission by gas and steam turbines. The superior properties of microporous insulation allow efficient protection of the equipment during power generation. This is likely to have a positive impact on the demand for the product in this sector.

High product cost is expected to be the major market restraint over the forecast period. High manufacturing cost on account of low industrial production capacity is anticipated to restrict market growth.

The product is considered expensive for utilization in price-sensitive sectors such as commercial, automotive, and industrial applications. However, companies including Thermodyne have been trying to develop products that can lead to energy conservation and weight reduction, thereby compensating the high cost.

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Microporous Insulation Market Report Highlights

• Rigid boards & panels led the market and accounted for the largest revenue share of 46.8% in 2023

• Flexible panels are projected to grow at the fastest CAGR over the forecast period

• Industrial applications accounted for the largest market share of 28.7% in 2023 owing to the increased need for these insulations in the industrial industry

• Market players have been adopting mergers & acquisitions and expansion as their key strategic initiatives over the past years. For instance, in August 2011, Unifrax LLC acquired three North American vacuum forming businesses which are, VacuForm Incorporated ("VFI"), Refractory Specialties Incorporated ("RSI"), and specialty Ceramics Incorporated ("SCI").

• The Asia Pacific microporous insulation market dominated the global market and accounted for the largest revenue share of 39.9% in 2023

Microporous Insulation Market Segmentation 

Grand View Research has segmented the global microporous insulation market report based on product, application, and region: 

Microporous Insulation Product Outlook (Revenue, USD Million, 2018 - 2030)

• Rigid boards & panels

• Flexible panels

• Others

Microporous Insulation Application Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial

• Energy & Power

• Oil & Gas

• Aerospace & Defense

• Others

Microporous Insulation Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

List of Key Players in Microporous Insulation Market

• Etex Group

• Johns Manville.

• Morgan Advanced Materials

• Alkegen

• NICHIAS Corporation.

• TECHNO-PHYSIK Engineering GmbH.

• Elmelin Ltd

• Unicorn Insulations Ltd.

• Laizhou Mingguang Thermal Insulation Material Co. Ltd.

• Siltherm Japan Limited