The global aerogel market is expected to reach USD 1.92 billion by
2022, according to a new report by Grand View Research, Inc. Growing demand for
high thermal resistance products is expected to drive demand for aerogel over
the next few years. In addition, lightweight and compressed size of the
material makes it a favorable option for thermal insulation.
Building &
construction is anticipated to witness highest growth at a CAGR of 38.6% over
the forecast period. Increasing number of infrastructure projects, particularly
in Asia Pacific, is expected to drive demand for lightweight materials. Rising
awareness regarding the benefits of the product is expected to augment its use
in these end-uses over the forecast period.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/aerogel-market
Further key findings from the report suggest:
·
Market for silica-based aerogel was
estimated at USD 307.5 million in 2014. It provides several advantages such as
resistance for high temperatures -140°Cto 20°C. Mars exploration projects,
‘Spirit’ and ‘Opportunity’ by NASA made use of silica aerogels, which were
successful at extreme temperature on Mars.
·
Hydrophobic silica aerogels exhibit
excellent water absorption properties. In addition, these materials also absorb
other substances that repel water such as oil. Owing to this,
specially-functionalized silica aerogel powder and blankets are being used in
oil-spill cleanups, which will also be commercially in few days.
·
Growing demand for aerogel silica owing to
its light diffusion, superior thermal insulation and high surface area, in
architectural applications, is expected to propel growth of the overall
industry. Moreover, increasing focus on infrastructure development is expected
to bolster growth.
·
North America accounted for 57.2% of the
global market in 2014 and is expected to witness moderate growth over the
forecast period owing to limited growth of the end-use industries. Development
of cheaper materials such as polymers are expected to drive the demand for
polymer based aerogel in building & construction industry, especially in
Asia Pacific.
·
Europe is expected to witness a substantial
growth at a CAGR of 32.9% from 2015 to 2022.The European Union has set a target
to achieve 20% reduction in energy by 2020. This target is a part of policy set
under Energy Efficiency Directive (EED).Aerogel, particularly silica-based,
exhibit properties similar to naturally available silicates, thus, they are
eco-friendly in nature.
·
Key industry players include Aspen Aerogels
Inc., Cabot Corporation, Aerogel Technologies LLC, BASF SE, and Dow
Corning Corporation. These companies are focusing on R&D activities to
develop new products and enhance their aerogel portfolio.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/advanced-materials
Grand View Research has
segmented the global aerogel market on the basis of form, product, end-use and
region:
Global Aerogel Form Outlook (Revenue, USD Million; 2012 -
2022)
·
Blanket
·
Particle
·
Panel
·
Monolith
Global Aerogel Product Outlook (Revenue, USD Million;2012
- 2022)
·
Silica
·
Carbon
·
Polymers
·
Others
Global Aerogel End-use Outlook (Revenue, USD Million;
2012 - 2022)
·
Oil &gas
·
Building &construction
·
Automotive, aerospace & marine
·
Performance coatings
·
Others
Global Aerogel Regional Outlook (Revenue, USD
Million; 2012 - 2022)
·
North America
o U.S.
·
Europe
o Germany
o U.K.
·
Asia Pacific
o China
o Japan
·
Latin America
o Brazil
·
MEA
View press
release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-aerogel-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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