Transparency Market Research has recently announced that it has published a new research report. The report, titled “Aerogels Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” analyzes the market drivers and restraints that are impacting the trajectory of the overall market. According to the research report, the global aerogels market was valued at US$309.1 mn in 2014 and is expected to expand at a 15.2% CAGR between 2015 and 2023 to reach a valuation of US$1,093.2 mn by 2023.
Aerogels are exceptionally lightweight materials that are made from a gel. They contain silica, air, and other materials that are stored in a tight three-dimensional porous structure. The liquid component of this gel is substituted with a gas, which makes this synthetic material solid, giving it peculiar characteristics of low thermal conductivity and very low density. The remarkable growth in the global oil and gas industry and the construction industry has been the primary growth driver for the global aerogels market. The demand for aerogels in the transportation industry is also expected to drive the overall market in the forecast period.
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The global aerogels market is segmented on the basis of product, end user, and region. The products available in this market are silica aerogels, carbon aerogels, and others such as polymer aerogels. The end users of aerogels are the oil and gas, construction, transportation, electronics, and others such as pharmaceutical industries. Geographically, this market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
In terms of products, the silica aerogels segment was leading the overall market with a share of 65% in 2014. The popularity of this product can be attributed to the growing number of applications of silica aerogels. Analysts predict that the carbon-based aerogels and polymer-based silica aerogels will show incredible progress in the forecast period. This growth rate will be supported by the proliferation of end users and effective commercialization of aerogels.
The North America aerogels market holds a significant share in the overall market due to the availability of manufacturing expertise and abundance of raw materials. Europe is the second-largest shareholder in the market. Research indicates that the aerogels market in Asia Pacific is poised to grow at an incredible pace due to a huge demand for insulation and plummeting prices of aerogels.
Some of the important players operating in the global aerogels market are Cabot Corporation, Aerogel Technologies, LLC, Aspen Aerogels, Inc., Surnano Aerogel Co., Ltd, Svenska Aerogel AB, JIOS Aerogel Limited, BASF SE, Green Earth Aerogel Technologies, Ocellus, Inc., and Guangdong Alison Hi-Tech Co., Ltd. The research report profiles these players and provides a fair assessment of the competitive landscape of the global aerogels market. Furthermore, it also evaluates the financial overview, research and development activities, expansion plans, and business and marketing strategies of these operating players in the global aerogels market in the near future.
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