To provide heat insulating material having an excellent heat retaining property, enabling the cost thereof to be reduced and having excellent handleability.

The heat insulating material is composed of 20-50 wt.% papermaking pulp, 5-20 wt.% carbonized vegetable fibers, 5-20 wt.% inorganic material having expansibility by heating, 5-15 wt.% oxidation heat generating material having an oxidation heat generation property by heating and a solid containing 5-40 wt.% solid material for solidifying each of the above material.

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