Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Microporous Insulation Market by Type (Flexible Panel, Machined Part, Moldable Product), Application (Aerospace & Defense, Automotive, Energy & Power) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Microporous Insulation Market size was estimated at USD 512.46 million in 2022, USD 565.19 million in 2023, growing at a CAGR of 10.42% to reach USD 1,132.99 million by 2030.
In this report, 2018 to 2021 are considered as historical years, 2022 is the base year, 2023 is the estimated year, and years from 2024 to 2030 are considered as the forecast period.
The report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share.
The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Market Segmentation & Coverage:
This research report categorizes the Global Microporous Insulation Market in order to forecast the revenues and analyze trends in each of the following sub-markets:
- Based on Type, the market is studied across Flexible Panel, Machined Part, Moldable Product, and Rigid Board & Panel. The Moldable Product is projected to witness significant market share during forecast period.
- Based on Application, the market is studied across Aerospace & Defense, Automotive, Energy & Power, Industrial, and Oil & Gas. The Industrial is projected to witness significant market share during forecast period.
- The Americas commanded largest market share of 38.74% in 2022, followed by Europe, Middle East & Africa.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
Market Dynamics
Drivers
- Increase in Demand for High Thermal Resistant Insulation Materials in Oil & Gas Applications: The surge in demand for high thermal resistant insulation materials in oil and gas applications propels market growth, driven by the need for enhanced safety and efficiency in the sector.
- Growth in the Demand from Automotive, Aerospace & Defense Sector Owing to Space and Weight Conservation: The automotive, aerospace, and defense sectors experience growth as the demand for insulation materials increases due to the emphasis on space and weight conservation in these industries.
- Rising Demand for Insulation Products Due to Growing Energy & Power Consumption in Developed Economies: The rising energy and power consumption in developed economies contribute to the escalating demand for insulation products, driven by the need for energy efficiency.
- Extensive Use in Renewable Energy in Industrial and Commercial Markets: The extensive application of insulation materials in the renewable energy sector, specifically in industrial and commercial markets, drives market growth by enhancing energy conservation efforts.
Restraints
- Lack of Commercialization and Low Industrial Production Capacity Resulting in High Cost: The limited commercialization and low production capacity in the industry lead to higher costs, acting as a restraint to the widespread adoption of these insulation materials.
Opportunities
- Infrastructure Development in Emerging Economies Owing to Modernization and Industrialization: Opportunities arise from infrastructure development in emerging economies, attributed to modernization and industrialization efforts, driving the demand for insulation materials.
- Availability of Advanced Technology and Strong Financial Investments by Key Manufacturers: The presence of advanced technology and significant financial investments by key manufacturers present opportunities for innovation and expansion within the insulation materials market.
Challenges
- Lack of Awareness and Acceptance of Microporous Insulation: The challenge of inadequate awareness and limited acceptance of microporous insulation hinders its adoption and market penetration despite its potential benefits.
Competitive Portfolio
- Elmelin Ltd.
- Etex Group
- Johns Manville Corporation
- Kingspan Group Plc
- Langfang Chaochen Thermal Insulation Material Co., Ltd.
- Morgan Advanced Materials PLC
- NATI Refractories Co., Ltd.
- Nichias Corporation
- Promat International NV
- Shanghai Nanovix Thermal Insulation Co., Ltd.
- Siltherm International Group Limited
- Thermost Thermtech Co., Ltd.
- Unicorn Insulations Ltd.
- Unifrax LLC
- Zircar Ceramics, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $565.19 Million |
| Forecasted Market Value (USD) by 2030 | $1132.99 Million |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ga95ty
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