Hi Greg! Yes the ceramic wool stuff is made in different types and temp.ratings. Far as resistance to heat, and heat transfer, it's about the best available short of space Shuttle tile material. (good Luck getting any of THAT!)
And yes you want to be careful handling it, use goggles/respirator mask, long sleeves, etc. It gave me some irritation when I was using it on my oven projects.
One thing about it is it's not very durable, the stuff I used is rather fragile, IF you can score some for free, that's Ok, as it's costly, and I only found it in 25 ft. long by I think 48" wide rolls. Then there's the issue of wrapping it w/ something to protect it. I doubt that it can hold up very well in an under-car environment for very long. IF you find a way to use it and install it, you could be the guinea pig- or rather Wendy can!
As far as practicality, cost, availability, ease of installation, I think Ron's idea is better. I do wonder still about it's durability under a vehicle. The durability issue is probably why I instinctively thought of header wrap tape.
Purely speaking on insulation value, I think the Owens-Corning tubular stuff might be better. It's available in those various diameters and thicknesses, so one could look at their exhaust then judge which size is best.
Wetting the ceramic stuff then compressing it, might give better ability to mould to different configurations. But that reduces thickness, and drives out the air trapped in the ceramic. Ya want the air inside the insulatiing material just like you fluff up a sleeping bag before climbing in. It's the air that does much/most of the insulating work. Then it's a question of how high a temp the material can withstand before failure (melting).
Regarding the material science factors, the ceramic wool and the woven basalt fiber header wrap will stand up to anything normal cars/exhaust systems can dish out. The header wrap should be most durable and needs no top over-layer to protect it. But- it lacks any "loft" or trapped air. As Ron says- if the Owens-Corning tubular stuff can handle 850 F, it's probably good enough temp wise, it's far cheaper, and looks easy to work with. They didn't design it to go under cars on exhaust pipes--that's where We Crazies come in--Right?
Oh and I Repeat what Ron said about trying to use regular pink house insulation---DO NOT DO THIS!
IF you do, you are a
Moron!!!
BTW, Greg, if you ever want to make a Rocket Oven- that ceramic insulation is the Bomb for that, it's what I use to keep the heat in the Oven body...LOL!
Tracy G