New York, Dec. 01, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Increasing Adoption of Electric Vehicles Driving the Global Market for Advanced Insulation Materials, 2026” – https://www.reportlinker.com/p05993475/?utm_source=GNW
Insulation can reduce the cost of heating and cooling a building by more than 40%.
This study covers insulation materials that have very high R-values per inch and hence, are referred to as advanced insulation materials. The key materials selected are aerogel, polyimide foams and vacuum insulation panels (VIPs).
These materials possess high levels of heat resistance and are highly effective in stopping the heat flow from one side to another.Regulations pertaining to thermal runway in China, the largest electric vehicle (EV) market, have called for collaboration between advanced insulation material manufacturers, EV OEMs, and battery manufacturers. The focus is to develop insulation solutions for batteries that help in efficient management of thermal runway, in case the EV catches fire, for safe evacuation of passengers. The above factor will be critical to drive business efficiencies in the next 5 to 8 years. The regulations will come into force in China in 2021 and are expected to be introduced in other regions soon after. With many countries developing their EV policy to maximize the use of EVs by 2030, EV is expected to be a major end-use market for advanced insulation material manufacturers over the next decade. The constant drive for attaining greater energy efficiency has led to the introduction of newer regulations in in Europe in 2018. Authorities in the region aim for buildings to be carbon neutral by 2050. This energy efficiency push is motivating construction project owners to focus on developing insulation materials with high resistance and lower thermal conductance. Provision of greater energy efficiency in comparison to competing materials is critical to drive the adoption of advanced insulation materials by the construction industry in the longer term (the next 10-15 years). A drop in prices of advanced insulation materials is also expected in the longer term (i.e., the next 5-10 years). This will also drive the rate of adoption of insulation applications in this industry.Manufacturers such as Svenska Aerogel are looking at disrupting the manufacturing of aerogel-based products in order to bring down prices. Aerogel is typically manufactured in batches, but the company is developing a continuous manufacturing process, which is expected to bring down prices due to economies of scale. This factor is expected to gain prominence over 5-8 years as the manufacturing technology is still in its nascent stage. Once the technology is commercialized, its adoption across industries will bring down the high prices of aerogel-based products.
Read the full report: https://www.reportlinker.com/p05993475/?utm_source=GNW
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