The high-performance insulation materials market is anticipated to be valued US$ 13.43 billion in 2023 and more than US$ 38.13 billion by 2033. During the projection period, the market will rise at an outstanding 11% CAGR.
Insulation is defined as a complete barrier to transfer of heat through walls, floor and ceilings by trapping it into small cavities that helps in maintaining indoor temperature, save energy costs, and creates a healthier & comfortable living environment. Smaller the cavities, better performance of insulation material which leads to an effective thermal barrier.
Insulation materials have some important properties namely low thermal conductivity, density, thickness of insulation, surface emissivity and thermal bridging which exhibits product effectiveness.
These properties enhance the function and performance of insulating materials. High-performance insulation material depends on the type of raw material used, process takes place during manufacturing and skilled labor force.
Aerogel is a type of raw material used to manufacture insulation materials which are 1,000 times less dense than a glass and are environmentally benign. High-performance insulation material delivers 40 times more insulation that the fiberglass and can be used at -200 °C to 650 °C temperature without flammable.
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High-Performance Insulation Materials Market: Drivers and Restraints
High-performance insulation materials market are witnessing maximum growth owing to increasing demand for specialized products, new product development, high durability and appropriate thickness of the material.
Moreover, increasing use of extruded polystyrene and polyurethane insulation materials which are 90% less harmful to earth’s ozone layer, and rising environmental concern are some of the other factors that increase the growth of high-performance insulation material market in near future.
However, the risk of flammability with insulated materials, foam products that contain CFC are relatively detrimental to the environment and high cost of production are a major barrier to the high-performance insulation materials market.
High-Performance Insulation Materials Market: Market Segmentation Overview
High-performance insulation materials market witnessed substantial growth owing to low thermal conductivity, sound absorption, water repellency and thermal shock resistance properties of insulation materials.
By material type, aerogel is anticipated to hold the major share in the high-performance insulation materials market owing to its properties such as light weight, tensile strength, thermal insulation, superior fire resistance, easy installation, high compressive strength and low density.
Ceramic fiber insulating materials include substances such as blankets, modules, boards, and papers are extensively used which is expected to boost the global high-performance insulation materials market in near future.
Based on the application type, when high-performance insulation materials are used for an industrial purpose they help in allocating the heat consistently, diminish the overall noise, vibrations and energy consumption which will enhance the growth of the market during the forecast period.
High-Performance Insulation Materials Market: Region-wise Outlook
Depending on the geographic region, High-Performance Insulation Materials marketis segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia=Pacific, Japan, and Middle East & Africa.
Asia Pacific dominates the High=Performance Insulation Materials market followed by Europe, Japan and North America owing to high infrastructural investment and availability of insulation material suppliers.
Asia Pacific, Middle East, and Africa hold huge potential and shows substantial growth in terms of wide acceptance of new technology owing to increase in the consumption of oil & gas and rising manufacturing facilities in these regions which will further boost the demand for insulating materials to reduce greenhouse effect, global warming, and less energy consumption.
High-Performance Insulation Materials Market: Key Players
Some players of high-performance insulation materials market are as follows:
- Aspen Aerogels, Inc.
- Morgan Advanced Materials
- Isolite Insulating Products Co., Ltd.
- The 3M Company
- Unifrax LLC
- Nano High-Tech Co., Ltd
- Cabot Corporation
- Alison hi-tech company Ltd
- Ibiden Co. Ltd.
- Shandong Luyang Share Co., Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, material, and applications.
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High-Performance Insulation Materials Market: Segmentation
The high-performance insulation materials market has been classified on the basis of product type, raw material, and application.
Based on product type, the high-performance insulation materials market is segmented into the following:
- Insulating Bricks
- Calcium Silicate Blocks
- Insulation Mattresses
Based on raw material, the high -performance insulation materials market is segmented into the following:
- Ceramic Fiber
- Vermiculite
- Aerogel
- Glass Bubbles
- Others (Fiber Glass, Foams)
Based on application, the high-performance insulation materials market is segmented into the following:
- Construction
- Oil and Gas
- Transportation
- Automotive
- Industrial
- Power generators
- Others
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