Microporous Insulation Market - By Material (Alumina Silica, Calcium Magnesium Silicate), By Product (Rigid Board & Panel, Flexible Panel), By End-use Sector (Oil & Gas, Metal Works, Energy & Power, Transportation) & Forecast, 2024 – 2032

Microporous Insulation Market Size

Microporous Insulation Market was valued at over USD 937.9 million by 2023. It is expected to grow at a CAGR of 6% between 2024 and 2032. This growth is mainly due to increased demand from the automotive, aerospace, and transportation sectors in both developed and developing countries.

Microporous insulation is a high-performance thermal barrier used in applications that operate at high temperatures, usually around 600 °C and above. It has low thermal conductivity, high compression resistance, and low heat storage. These features make it popular in heat treatment furnaces, melting furnaces, induction furnaces, fuel cells, and other energy applications.
 

In addition to its existing applications, microporous insulation is increasingly being used in the power sector. This includes coal and gas-fired power stations and nuclear power plants that operate under extreme temperatures. Its ability to resist thermal shocks at high temperatures also makes it valuable in the global metalworking and manufacturing sectors. Moreover, increasing investments in the automotive, aerospace, and defense sectors in the Asia Pacific, particularly in India, China, and Japan, are expected to further boost the market during the forecast period. Its low shrinkage and non-combustible nature make it highly sought after in glass manufacturing industries, especially for applications like forehearths, feeder bowls, holding furnaces, and recuperators.
 

Rising manufacturing and operational costs could hinder the microporous insulation market share in the short term, potentially squeezing profit margins for manufacturers and suppliers. Additionally, the carcinogenic properties of alumina silica might pose challenges to the market during the forecast period. On a positive note, the increasing adoption of microporous insulation in storage heating, domestic ovens, and various home appliances is set to drive its demand soon.
 

Microporous Insulation Market Trends

A significant trend is the rising adoption of eco-friendly and sustainable insulation materials. This shift is largely driven by stricter environmental regulations and a broader push for greener manufacturing practices. Furthermore, industries like aerospace, automotive, and electronics are increasingly prioritizing lightweight insulation solutions. For these sectors, reducing weight without compromising performance is paramount. There's also a burgeoning demand for advanced thermal management systems. Industries such as energy, metallurgy, and construction are emphasizing operational efficiency and energy conservation. Additionally, as safety standards tighten across various sectors, the integration of microporous insulation in fire protection systems is gaining momentum. Lastly, advancements in material science are paving the way for microporous insulation products that boast enhanced durability, temperature resistance, and versatility across diverse applications.
 

Microporous Insulation Market Analysis

Based on material, the market is segmented into alumina silica and calcium magnesium silicate. The calcium magnesium silicate segment currently leads the market, generating about USD 867.9 million revenue in 2023. This segment is likely to grow significantly through 2032 due to its very low thermal conductivity and high thermal stability. These features make it popular in industries that operate at high temperatures, such as transportation and energy & power.
 

Based on product, the microporous insulation market is segmented into flexible panels, rigid boards & panels, and others. The "others" category primarily encompasses moldable, machined, and pourable microporous insulations. In 2023, flexible panels dominated the segment, accounting for nearly half of the market share. This segment is projected to experience significant growth during the forecast period, attributed to its superior mechanical resistance against impact and vibration. Following closely is the segment for rigid boards and panels, which is witnessing reasonable growth, driven by its rising applications in metal works and various other end-use sectors.
 

Based on end use sector, the market is segmented into oil & gas, metal works, energy & power, transportation, and others. Dominating the market, the transportation sector—which includes automotive, aerospace, and marine industries—generated revenues exceeding USD 316 million in 2023. This segment is projected to experience significant growth in the near future, fueled by its high thermal stability, low thermal conductivity, and lightweight nature.
 

North America and Europe, holding a combined share of over 60%, lead the growth of the overall market and are poised for steady growth in the near future. In contrast, the Asia Pacific and Middle East regions are projected to experience significant growth during the forecast period, driven by government-favorable regulations in the automotive and manufacturing sectors. Additionally, rising energy demands in these regions are set to boost product usage in the power and oil & gas industries across various insulation applications. The demand for microporous insulation is also surging in metal works, glass manufacturing, and consumer appliances, further enhancing the global market size.
 

Microporous Insulation Market Share

The microporous insulation industry is very competitive, with major players like Aspen Aerogels, Inc. leading the way. Aspen Aerogels focuses on high-performance aerogel-based insulation, offering advanced technologies that provide excellent thermal performance, energy efficiency, and safety. Their products are used in industries such as oil & gas, construction, and automotive. Their dedication to innovation and sustainability has made them a leader in the market.
 

Companies in the market are taking strategic steps to strengthen their presence and expand their product lines. For example, Morgan Advanced Materials is investing in research and development to improve the thermal performance of its microporous insulation. Their products are used in demanding industries like aerospace, energy, and transportation. Morgan Advanced Materials also focuses on sustainable insulation solutions that reduce energy use and emissions, supporting global environmental goals.
 

Microporous Insulation Market Companies

Major players operating in the market include:

• Aspen Aerogels, Inc
• Etex Building Performance N.V
• Johns Manville
• Kingspan Insulation LLC
• Morgan Advanced Materials
• NICHIAS Corporation
• ThermoDyne
• Unicorn Insulations Ltd
• Unifrax LLC Blue Sail
   

Microporous Insulation Industry News

• In April 2024: Kingspan Group announced its acquisition of Steico SE. This strategic move enhances Kingspan's position in the sustainable construction sector by integrating Steico's expertise in high-performance insulation materials and eco-friendly building solutions. The acquisition aims to bolster Kingspan's global footprint and advance its commitment to sustainable construction practice
   

The microporous insulation market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments:

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By Material

• Alumina silica
• Calcium magnesium silicate

By Product

• Rigid Boards & Panels
• Flexible Panels
• Others

By End-use Sector

• Oil & gas
• Metal works
• Energy & power
• Transportation
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Thailand
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Iran