"Global Aerogel Market (Raw Material Type,
Forms, Applications, Geography) - Industry Analysis, Trends, Share,
Opportunities and Forecast, 2013- 2020", the global aerogel market is
forecast to reach $1,896.6 million by 2020 from $221.8 million in 2013,
registering a CAGR of 36.4% during forecast period (2014 - 2020). North America
and Europe collectively will generate near about two-third of the market
revenue by 2020. In terms of volume, the market is expected to reach 953.1
million sq ft by 2020, from 105.6 million sq ft in 2013. Though the consumption
of aerogel is spread world over, largely evenly, over 85% of the aerogel
production facilities are located in North America and Europe. Aerogel is chiefly referred as a strong
insulator, with its better thermal insulation capacity than conventional
alternatives. However, due to relatively higher prices, its mass adoption was
limited to sophisticated applications in oil & gas industry and aerospace.
Nevertheless, due to advent of various cost-efficient aerogel manufacturing
techniques, it has now emerged as a better alternative in many applications
such as automotive, healthcare, chemicals, electronics, and building insulation.
With multitude of favorable drivers such as supporting policies pertaining to
green infrastructure in European and Middle Eastern countries, the market is
anticipated to have widespread adoption, especially in building insulation
segment. In the meantime, the need for efficient and easy to install thermal
insulations, higher thermal resistance, thinner & lighter solutions for
industry purposes, and reusability has been other primary factors elucidate the
market growth.
Silica,
carbon, and alumina have been the prime sources of manufacturing aerogel where
others (polymer, chalcogels, and seagels) are scarcely being used. Silica
aerogel is projected to be the most promising segment, mainly due to efficient
insulation properties and lightweight solutions. Others aerogel segment is
anticipated to grow at a CAGR of 52% during the forecast period. The
substantial growth of other types is mainly attributed to polymer aerogel,
which is emerging as an efficient and cost effective heat insulator.
The
aerogel has its application in building insulations, oil & gas, acoustic,
aerospace, chemical, electronics, healthcare, automotive thermal management and
others. The others segment includes applications in agriculture, cryogenics,
apparels and power generation. Oil & gas segment leads the global aerogel
application market in both in terms of value and volume through 2020. Acoustic
Insulation, building insulations and electronics applications segments are also
expected to witness significant growth rate. Various upcoming green
infrastructure policies across the world, especially in Europe and Middle East
are expected to drive the building insulation market during the analysis
period. Geographically, the market is
segmented into North America, Asia-Pacific, Europe, Latin America & Africa,
and Middle East. Though North America currently leads the global market, Europe
will outperform North America in terms of revenue. The early adoption of
aerogel technology in these regions primary drives the market, especially in the
fields of aerospace and building insulations. However, due to plenty of scope
in Europe for using aerogel in building applications the region is expected to
contribute largely to the overall growth of the market. However, Asia Pacific
is forecast to be the most lucrative regional market, growing at a CAGR of
37.3% from 2014 to 2020.
The
report analyzes top winning strategies of prominent players in the market. The
companies profiled in the report includes Aspen Aerogels Inc., American Aerogel
Corporation, Cabot Corporation, Dow Corning Corp., Svenska Aerogel AB, BASF SE,
Airglass AB, JIOS Aerogel, Active Space Technologies and Acoustiblok UK Ltd.
Know more about this
report at : - http://mrr.cm/ZAP
See all Chemicals market reports at - http://www.marketresearchreports.com/chemicals
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