Not sure if it's a good idea.
I can remember that i saw a post of Swissghost that he got an broken pipes near the cylinder head. Could be caused by the wrapping ??
Mine did the same thing. The bobbins holding the pipes to the side of the car failed and the pipe flexed
way too much and it tore it at the head while running. The pipes were very hot. The wrap stopped an inch short of the tear so heat buildup under the wrap was not the cause. The cause was the thickness of the pipe wall. The stock 2012 pipes are only 1.0mm thick. After that year they (Morgan) switched to 1.5mm.
I have a new set of the black front pipes waiting at the dealer. I will wrap these as well as when I come to a stop and am just sitting there the wrap protects the turn signal bullets from the heat of the pipe just inches below it. There have been pictures posted elsewhere showing the melting of same...