According to a new market report published by Credence Research Global Aerogels Market– Growth, Future Prospects & Competitive Analysis, 2017 – 2025, the Global Aerogels Market is expected to reach US$ 2.2 Bn by 2025, expanding at a CAGR of 24.5% during the forecast period 2017 – 2025.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
Aerogels market is projected to witness high growth with growing application of aerogels in various end use industries. Industries such as oil & gas, construction, automotive, marine, aerospace, performance coating, day lighting & LVHS and others are expected to increasing consumption of aerogels due to its increasing application. Oil & gas industry to remain the key consumer of aerogels owing to increasing demand for insulating materials for critical applications is expected to drive the demand for aerogels over the forecast period.
Aerogels also finds application in construction industry for the purpose of thermal insulation. Growing infrastructure investment in construction of various residential and commercial infrastructure especially in emerging economies such as India, China, Brazil, South Korea and others is expected to propel the demand for aerogels in construction industry. Moreover, increasing use of aerogels in thermal insulation in automobiles, ships and airplanes also projected to impel the demand for aerogels over the forecast period. However, the high manufacturing cost and properties such as poor mechanical strength of aerogels is projected to restrain the growth of global aerogels market during the forecast period (2017-2025).
Global aerogels market is segmented on the basis of material, form, application and geography. Based on material, silica segment accounted for the largest share in global aerogels market. Low cost, easy availability and high insulting properties increasing the adaptability of silica aerogels which in turn is projected to drive the growth of the segment. Based on form, blanket segment was the most dominant segment in global aerogels market in 2016. High demand for blanket aerogels from oil & gas industry is projected to drive the growth of the segment during the forecast period.
By application, oil & gas application segment accounted for major share in 2016 in global aerogels market owing to increasing demand for insulting material in various applications in oil & gas industry. On the basis of geography, North America was estimated to be the largest market for aerogels in 2016 and projected to maintain its dominance during the forecast period. Growing demand from end use industries such oil & gas, construction, automotive, marine, aerospace, performance coating, day lighting & LVHS and others is projected to drive the growth for aerogels in the region.
Major players in the aerogels market includes Aspen Aerogels Inc., Aerogel Technologies LLC., Active Aerogels, BASF SE, Cabot Corporation, Enersens SAS, Guangdong Alison Hi-Tech Co. Ltd. Jios Aerogel Corporation and Nano High-Tech Co. Ltd. Thus, key player are investing in research and development, merger and acquisition with focus on improve their product portfolio and market penetration. Largely, global aerogels market is anticipated to register robust growth over the forecast period (2017-2025).
– Merger & Acquisition
– Investment in R&D
– Expansion in production capacity