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The rapid industrialisation and urbanisation across the globe, fuelled by the rapidly increasing population, is projected to bolster the market growth in the forecast period. This can be attributed to the increase in applications of microporous insulation across industries, owing to its exceptional characteristics of such as reduced heat transfer, durability, light weight, and high compressive strength. In addition, the imposition of government regulations aimed towards decreasing the emissions of greenhouse gases and carbon compounds is projected to spearhead the adoption of microporous insulations. Furthermore, the rapid technological advancements and the growing investments in the research and development activities by the industry players are expected to aid the market growth in the forecast period.
The growing demand for insulation across industry verticals is propelling the market players, such as Johns Manville, a Berkshire Hathaway (NYSE: BRK.A, BRK.B) company, to develop new and innovative insulation solutions, which is predicted to aid the market growth. For instance, Unifrax, a leading provider of high-performance speciality fibres and inorganic materials, offers products like Excelfrax 1800Board and Excel 1800 Flexliner which possess superior insulating characteristics like resistance to thermal shock, non-combustibility, high density, and compression resistance.
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The major players in the global microporous insulation market are Etex Building Performance NV (Promat), Johns Manville Corporation, Morgan Advanced Materials PLC, Unifrax I LLC, Nichias Corporation, Techno Physik Engineering GmbH, Elmelin Ltd., and Unicorn Insulations Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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