Market Drivers – Challenges and Risks
The need to conserve energy drives the market. Insulation coatings could make up a large percentage of energy savings in industrial applications.
The U.S. Environmental Protection Agency (EPA) regulates exhaust levels of diesel engines. In order to meet the requirements of increased efficiency, thermal insulation coatings must be used in the manufacturing of new diesel engines.
Traditional insulation materials such as foam and mineral wool are often used to insulate exterior tubing and machine parts. If such insulation material becomes wet, the insulation properties can be negatively affected and the underlying metal can begin to rust. Thermal insulation coating is often an attractive alternative due to the ease with which it is applied, that it is not affected by wetness and it provides good rust protection.
The great challenges for thermal insulation coatings are
- to improve insulation capabilities. Currently, most traditional insulation material insulates better,
- to lower price. Today, the cost is too high in relation to traditional insulation materials, and
- that competition is stiff from the traditional, well-established insulation materials.
To break the competition, better technical performance in combination with a lower price must come about, which Svenska Aerogel’s solution Quartzene will do.