Aerogel Market to experience an impressive growth of 12.2% during 2020-2025
January 30, 2020
Aerogel market is likely to witness an impressive CAGR of 12.2% during the forecast period. The market for aerogels is driven by their high performance and properties including superior thermal resistance and lighter and thinner nature. Their environmentally friendly nature is also immensely contributing towards the growth of the market. Aerogel is a reusable material which after consecutive usage for a chain of applications can be disposed of safely after completion of its life cycle.
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Aerogel Market Segment Insights:
By Type:
Based on the type, the market is segmented as silica aerogel, polymer aerogel, carbon aerogel, and others. The silica segment is expected to command the market during the forecast period, in terms of value. The higher demand for silica is majorly owing to the high demand from end-use industries coupled with its low cost and easy availability. Silica is the most common type of aerogel as it is extensively studied and practically used. It is the first kind of aerogel manufactured for commercial application. As silica remains a low cost and easily available aerogel, the method of synthesizing it is economical.
By Form Type:
Based on the form type, the market is segmented as blanket, particle, panel, and monolith. The blanket segment is estimated to hold the largest share of the market during the forecast period. The governance of the tank segment is likely to continue in the coming five years due to the high demand from the oil & gas and construction applications.
By Application Type:
Based on the application type, the market is segmented as oil & gas, construction, transportation, performance coating, day-lighting & LVHS, and others. The oil & gas segment is expected to be the largest application of the market, in terms value, during the forecast period. Superior thermal resistance and reduced thickness of aerogel materials reflect their huge potential for growth in the oil & gas applications, where insulation is of supreme importance.
By Region:
In terms of regions, the North American aerogel’s market accounted for the largest share of the global market and is expected to maintain its dominance during the forecast period as well. The market in the region is bolstered by strong consumer awareness and growing demand from the oil & gas and construction applications. Further, the robust foothold of the key market players in the region is also powering the growth of the aerogel market in this region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the aerogel market are Aspen Aerogels, Aerogel Technologies, LLC, Aerogel Insulation India, Aerogel Uk Ltd., BASF SE, Cabot Corporation, DOW Corning, Enersens SAS, Guangdong Alison Hi-Tech, and Jios Aerogel.
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Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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