Aerogel Market Foresees Rapid Growth Prospects led by Construction Industry
Aerogel is an ultra-light synthetic material and is produced by extraction of a liquid constituent of a gel by the supercritical drying process. Aerosols are permeable in nature and derived from the replacement of liquid constituent of a gel with a gas. However, aerogels are rigid, dry and solid materials and do not look like a gel and the name derived from the fact that they are produced from gels. Increasing demand from energy and construction industries is anticipated to drive the global aerogel market in the near future. Growing need of insulation materials in the energy and related industries is expected to boost the market growth over the coming years owing to its low density and thermal conductivity properties. However, the threat of cost-effective alternatives in emerging economies and sluggish rate of commercialization might hinder the anticipated market growth. However the rising demand for compact and light weight insulation in the automotive industry is expected to open new growth avenues for the aerogels market over the forecast period.
The report on “Global Aerogels Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021” by DecisionDatabases.com provides the industry details in terms of revenue and output/volume. The report uses Porters Five Forces Model to analyse the market and details the aerogel market growth/ opportunity prospects form 2014-2021.
Aerogels are the very light solid materials, composed of over 95% air and other suspended particles in the porous structure. Aerogels have outstanding physical properties such as light weight, low thermal conductivity, low density and are extremely porous in nature. These properties make them apt for various insulating applications in a wide range of industries including, construction, aerospace and petrochemical industries.
Aerogel market is segmented on the basis of product into four categories, which includes carbon aerogels, metal oxide aerogels, silica aerogels and others (including the polymer and other types of aerogels). Silica aerogel is the leading product segment, accounting for maximum market share and is anticipated to witness significant growth over the forecast period on account of growing demand for low-cost-high-insulating materials in the near future. In addition, its key raw materials availability also makes it perfect to use for the manufacturers and makes it most feasible option for the industry players. By end-user, the market is segmented into oil & gas, construction, electronics and others (including pharmaceutical and others application). Oil & gas application dominates the market and is expected to continue its dominance owing to increasing demand for advanced insulating materials in this segment over the coming years.
North America is the leading consumer market for aerogels and is expected to grow at a significant rate over the forecast period. The market is primarily driven by growing demand for aerogel insulation materials in construction and oil & gas industries. U.S. is one of the major consumer and manufacturers of aerogels. Europe market is also anticipated to grow at a considerable rate in the near future owing to rising demand from transportation and construction industries. Asia Pacific is an emerging market for aerogel and is expected to witness substantial growth in the near future particularly in the China, South Korea, Japan and India, on account of the presence of a large number of manufacturers coupled with growing market for downstream industries.
The report analysis the major industry players such as Ocellus Inc., Cabot Corporation, Aerogel Technologies, Aspen aerogels, Surnano Aerogel Ltd., LLC, Svenska Aerogel, JIOS, Green Earth Aerogel, Guangdong Alison Hi-Tech Co. Ltd., and BASF. The competitive advantage of this market lies in the continuous technological advancement and expansion of application areas.
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