The Need For Flexible And Light Weight Insulators Will Create A Demand For Products From The Global Silica Aerogel Market 2016-2024
Market Overview:
Aerogel is a lightweight material that has been derived from gel where the liquid component has been replaced by gas. The resultant product is of low thermal conductivity and low density. There are different types of these aerogels available in the market and the silica aerogel is the most popular kind. This is also one component that has been researched and studied a lot. This type is derived from silica gel and has a high optical transmission rate.
The main reason for the growth of the global silica aerogel market is its insulating properties. Since these are highly insulating in nature, they can be used for different commercial and domestic applications in different industries and manufacturing processes. Sectors like aerospace, oil and gas and the marine all use this type of aerogel in large quantities regularly. The benefits these types offer over traditional insulation is also another reason for the market’s potential growth.
This silica aerogel report study talks about the various factors that both positively and negatively affect the market condition. The market was valued at USD 0.12 billion in 2016. It is estimated to grow by USD 1.07 billion in 2024 with a CAGR of 30%. The report talks about the potential for growth of this industry and the CAGR, sales, and revenue generated and its expansion plans. Key players in the market are identified and their growth pattern is tracked too.
Top Key Players:-
• Cabot Corporation
• American Aerogel Corporation
• Aspen Aerogels, Inc.
• Dow Corning Corporation
• Svenska Aerogel Holding AB
• Aerogel Technologies
• BASF SE
• JIOS Aerogel Corporation
• Maero Tech Sdn Bhd
• Ocellus Inc.
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Market Segmentation:
There are three basic types of segmentations that the report deals with based on the product type. Blanket, monolith and panel types and their potential demand and supply are identified by the report. Out of these, the blanket silica aerogel type is used widely in different industrial applications and hence will have the highest demand at present and in the forecasted periods. This type can be easily applied and this also prevents energy loss. Based on the areas of application, oil and gas, building and construction, marine and aerospace segments are analyzed. Out of these, the oil and gas segment will remain market leaders based on its demand.
Regional Analysis:
North America will remain the market leader in this silica aerogel industry and will hold about 60% of the shares and global revenues. Other regions, especially Europe and the Asia Pacific will expect high growth during the forecast periods. The reason for this is the industrial demand for aerogels in these regions. All developing countries will show an increased demand for this type of aerogel and there will be more manufacturing industries established in these regions for the production of silica aerogel. The submarkets that this industry creates are also analyzed by the report.
Industry News:
In July 2019, a paper was published in the Journal Nature Astronomy which gathered a lot of interest. This paper spoke about the image terraforming Mars and using silica aerogel as a low porus layer to make the land of mars suitable for growing food.
Continued…..
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