Global microporous insulation market is estimated to grow at a considerable rate during the forecast period. Microporous insulation is a composite material fabricated with a blend of ceramic powder and fibers. The global microporous insulation market is driven by various factors which include wide end-use application in the industrial sector, growing demand for thermal insulation in refrigeration and cryogenic applications, and technical advantages of microporous insulating material. There is a requirement for high-temperature insulation materials in the oil & gas industry for the production of petrochemicals and other chemicals which comprises a series of processes that are connected by pipes at high temperature. This is expected to increase the demand for flexible microporous insulation panels in the oil & gas industry.
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The global microporous insulation market is segmented on the basis of product and application. On the basis of the product, the market is bifurcated into a rigid panel and flexible panel. Further, on the basis of application, the market is segmented into industrial application, energy & power, oil & gas, aerospace & defense, and others. In the industrial sector, the microporous insulating materials are widely used in piping and equipment. Due to the high operating condition of temperature above 2500 F, the microporous insulating material is considered to be beneficial in the industrial sector. Apart from piping and equipment, microporous insulation is preferred for tanks, vessels, heat exchangers, valve and fitting insulation, exhaust ducts, electronic instruments, and fire protection in the industrial sector.
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The global microporous insulation market is geographically segmented into North America, Europe, Asia-Pacific, and rest of the world. Asia-Pacific region is expected to grow at a significant rate during the forecast period. The major factor contributing to the substantial growth of the region include rapid industrialization in fast-growing economies such as India and China. Moreover, due to stringent regulations, thermal insulation has become mandatory, which as a result is supporting the growth of the market in the region. In addition, the Middle East region has established energy and gas sector, which as a result increasing the demand for thermal insulation in the rest of the world.
- Market Segmentation
By Product
Rigid Panel
Flexible Panel
By Application
Industrial
Energy & Power
Oil & Gas
Aerospace & Defense
Others (Automotive, Consumer Appliances)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
