I use heat wrap from NAPA at work to keep the equipment from starting fires (paper mill). Non-metallic, dropped engine temps on most equipment and lasts a long time.

It reduced the heat from the exhaust being pushed through the radiator. Most equipment here pushes the air through the radiator and out the back.

I double layered the Benz from the manifold back to the muffler to reduce floor temps in the car. Worked good.

I think it would work great on a turbocharged engine.