Microporous Insulation Market To Reach $184.8 Million By 2025: Grand View Research, Inc.

Posted on 2018-12-03 by researchinsights in Aerospace, Chemicals, Defense, Energy, Industrial // 0 Comments

San Francisco, United States, 2018-Dec-03 — /EPR Network/ —The global microporous insulation market is expected to reach USD 184.8 Million by 2025, according to a new report by Grand View Research, Inc. 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 the 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 which can lead to energy conservation and weight reduction, thereby compensating the high cost.

To request a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/microporous-insulation-market

UK microporous insulation market, by product, 2014 – 2025 (USD Million)

Further key findings from the study suggest:

Flexible panel segment is expected to grow at fastest CAGR of 5.1% due to its wide range of application in oil & gas industry
Industrial segment emerged as the largest application in 2016 and is expected to grow at a CAGR of 4.7% from 2017 to 2025 on account of high utilization of the product in metal, iron & steel, nonferrous metals, and ceramic industries
Oil & gas industry is expected to grow at fastest CAGR of 6.5% in Middle East & Africa region due to presence of huge oil reserves
Europe accounted for the largest market share in 2016 and is expected to grow at a CAGR of 3.8% from 2017 to 2025. The industry is expected to witness fastest growth in demand from aerospace & defense sector in the region.
The Asia Pacific market is expected to witness fastest CAGR of 6.0% from 2017 to 2025 on account of high GDP growth, rising population, and rapid industrialization in the region
Market players have been adopting mergers & acquisition 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”).
In December 2013, Promat International Nv started a new factory in North America to expand its product offerings in passive fire protection (PFP) and high-performance insulation (HPI)

Related Report of Advanced Materials:

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

Microporous Insulation Product Outlook (Revenue, USD Thousand, 2014 – 2025)

Rigid boards & panels
Flexible panels
Others

Microporous Insulation Application Outlook (Revenue, USD Thousand, 2014 – 2025)

Industrial
Energy & power
Oil & gas
Aerospace & defense
Others

Microporous Insulation Regional Outlook (Revenue, USD Thousand, 2014 – 2025)

North America
- U.S.
- Canada
- Mexico
Europe

- Germany
- UK
- France

Asia Pacific

- China
- India
- Japan

Central & South America

- Brazil

Middle East & Africa

Access Press Release Of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-microporous-insulation-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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