Exhaust wrap is designed for a few purposes. It will help keep engine bay temperatures down. This is very important to keep intake temperatures down and other parts safe (fuel lines, wiring, etc). This is also helpful in certain sections when exhaust gets close to shifter cables, wiring, etc. Turbo cars often have even tighter fitment and hotter exhaust temperatures which makes this even more important. Lastly, hotter exhaust also moves quicker for increased performance.
K-Tuned Kevlar Heat Wrap Sleeve - 4ft long - 1.15in ID