Overview of Market:
The Global Aerogel Market is projected to demonstrate a significant growth rate during the review period 2017 to 2023.
Aerogels are manufactured from separating the liquid component by a supercritical drying process. They are porous and solid in nature. These gels are also called as frozen smoke, solid smoke, solid air, solid cloud, and blue smoke due to their transparent and scattering features. They are known for their lightweight nature, low conductivity, superior performance, and fire-resistant properties and these are the important factors which are influencing the market positively. Due to these factors, aerogels are used in various applications such as oil & gas, construction, transportation, performance coating, and others.
Aerogel witness a huge uptake across its end-users industries which drive the market growth, driving a substantial demand across the world. Resultantly, the Aerogel market is growing pervasively on the global platform.
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Industry Related News:
In, April 05, 2018 – The research team at the department of mechanical engineering, NUS Engineering (Singapore) introduced the new material; cotton aerogel that they have developed using cotton-based fabric waste, like unwanted clothing. These materials are highly compressible, stronger and suitable for mass production hence, the production, storage, and transportation costs could be significantly reduced. Furthermore, the time span taken for manufacturing these cotton aerogel is merely eight hours and can be used for effective haemorrhage control and heat insulation.
Segmentation:
The Global Aerogel Market is segmented into the type, form, processing, and application.
By form is sub-divided into blanket, panel, particle, and monolith segments.
On the basis of the type, the market is segregated into silica, polymer, and carbon segments.
By the processing is classified as virgin, composites, and additives segments.
Bases on application is bifurcated into oil & gas, construction, transportation, performance coating.
Regional Analysis:
The Global Aerogel Market is segmented into five regions across the world namely;
APAC, North America, Europe, Latin America, and the Middle East & Africa.
Among these, North America holds a majority of the market share due to advantages offered by the product and growing need for high performance insulation materials in major industries.
Asia Pacific is set to expand at a significant rate owing to growing demand for Aerogel in construction, furniture, textiles, and other sectors. In this region, the manufacturers and investors are shifting their focus from heavy materials to lighter products in end-use applications.
The enactment of new rules and regulations to use aerogel product in pipelines instead of steel has driven the market in the European region.
The rising demand for high performance insulation materials in the Middle East & African region is projected to drive the market during the forecast period.
Global Competitors:
The Global Aerogel Market is led by some of the fervent players including, Aerogel Technologies, LLC (Germany), BASF SE (Germany), Cabot Corporation (US), Guangdong Zhaoqing L&V Co. Ltd. (China), Enersens SAS (France), Svenska Aerogel AB (Sweden), Nano High-Tech Co. Ltd. (China), Active Aerogels (Portugal), Aspen Aerogels, Inc. (US), and JIOS Aerogel Limited (US).
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