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Aerogel Market Emerging Trend by 2023, Global Opportunity, Key Players, Regional Analysis, and Forecast
Aerogel Market is driven by application in packaging, oil & gas, building & construction, automotive, consumer goods, transportation, performance coating, electrical & electronics, and agriculture industry through 2018 to 2023
Aerogel is known for its light weight and super-properties such as low conductivity, and fire-resistant properties. They demonstrate good grades of thermal conductivity similar to a vacuum panel which makes them ideal insulators not just to keep warmth in, but also to keep homes cool. This makes aerogel the best suitable solution for heat and sound insulation.
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. Global Aerogel market is projected to demonstrate a significant growth rate during the review period (2017 to 2023).
Recent 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.
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Aerogel Market is segmented across Five Regions in the world namely;
- North America,
- Asia Pacific,
- Latin America,
- 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. 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 augmenting demand for the product due to its lower installation costs and improved compression from the various end-user industries such as oil and gas pipelines mainly in the countries like the US, Canada, and Mexico has made these countries as the major contributor to the market growth, escalating the market to witness a higher growth over the assessment period.
The Europe region is emerging as one of the promising markets for Aerogel, worldwide. Factors such as the growing implementation of new rules and regulations proposed by the government to follow lower dense materials than steel in pipeline constructions support the market growth in the region. Owing to the major growth contributor countries such as Germany, UK, and Russia fuelled by the application of this rule in O&G, and construction sectors, Europe region is expected to register phenomenal growth records over the forecast period.
The Aerogel Market is segmented into the type, form, processing, and application. The market 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. The market by the processing is classified as virgin, composites, and additives segments. The market by application is bifurcated into oil & gas, construction, transportation, performance coating.
The Global Aerogel Market is led by some of the fervent players including, Cabot Corporation (US), Guangdong Zhaoqing L&V Co. Ltd. (China), Enersens SAS (France), Svenska Aerogel AB (Sweden), Nano High-Tech Co. Ltd. (China), Aerogel Technologies, LLC (Germany), Active Aerogels (Portugal), Aspen Aerogels, Inc. (US), BASF SE (Germany), and JIOS Aerogel Limited (US)
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