Microporous insulation refers to a composite material found in the form of fibres or compacted powder characterized by an interconnecting pore size which is comparable to the average free path of air molecules present at standard atmospheric pressure. Microporous insulation generally contains opacifiers to reduce the amount of transmission of radiant heat. Microporous insulation material is fully inorganic which makes it non-combustible and suitable for passive fire protection applications. The microporous insulation materials are less thick which makes them suitable to be used in high temperature environments such as in the aerospace industry, low temperature refrigeration and cryogenic applications and other industrial applications. Microporous insulation products and materials are a composition of fibres, silica, and specially developed infrared opacifiers which have the ability to reduce thermal heat transmission process by absorbing and reflecting the radiant heat.
Microporous insulation materials are associated with some key features and benefits which helps to drive the growth of the global microporous insulation market. Some of the core benefits and features are, these products have exceptional thermal efficiency, they are low in weight coupled with high compressive strength, and they have the ability to increase operational efficiency and others.
High operational and manufacturing cost are the major drawbacks which are expected to create hindrances in the growth of the global microporous insulation market during the forecast period.
Further, emerging countries are developing the infrastructure of their industries which is expected to create further growth opportunities for the global microporous insulation market. Growth and development of existing and more industries will improve the demand for microporous insulation materials and products.
The global microporous insulation market has been segmented based on type of products, application and region.
Based on type of product, the global microporous insulation market has been further segmented into, flexible panels, rigid boards and panels and others. The flexible panels segment is expected to hold significant share of the global microporous insulation market.
Based on application, the global microporous insulation market has been further segmented into, industrial, energy and power, aerospace and defense, oil and natural gas, and others. The industrial segment has been further bifurcated into, iron and steel, glass, cement and others industry. While, the energy and power segment has been further bifurcated into conventional power generation, nuclear power generation, and fuel cells among others.
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Moreover, the oil and natural gas industry has been further bifurcated into, petrochemical and others industry and the aerospace and defense industry has been further bifurcated into naval and sea, aerospace and army munition. The aerospace and defense segment followed by the industrial segment is expected to hold considerable market share, however the oil and natural gas segment followed by the energy and power segment are expected to be the fastest growing segments respectively.
Based on region, the global microporous insulation market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific is expected to hold a considerable portion of the global microporous insulation market during the forecast period owing to the presence of majority of the leading players in this region.