Frequently Asked Questions
The global high performance insulation materials market was valued at USD 12.8 Billion in 2022.
The high performance insulation materials market is expected to grow at a CAGR of 11.5% between 2023 and 2030, reaching USD 27.4 Billion in 2030.
Aerogels is the leading segment by material type, holding over 75% share in value in 2022.
Industrial segment governs the global demand for high performance insulation materials, holding a massive share of over 30% in 2022.
The oil & gas equipment segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the high performance insulation materials industry, with an over one-third share in 2022.
The top players include 3M, Aerogel Technologies LLC, Armacell, Aspen Aerogels Inc., BASF SE, and Cabot Corporation.
The major market drivers are the increasing focus on energy efficiency and sustainability, growing construction and infrastructure development activities, and technological advancements in insulation materials.
The major market restraints are higher initial costs than conventional insulation options and limited awareness and education about high-performance insulation materials.
Green building initiatives, sustainable construction practices, technological advancements in insulation materials and manufacturing processes, and emerging markets and infrastructure development.