Global Aerogel Market is Likely to Grow at 13.2% CAGR Over the Forecast Period
The global aerogel market is segmented into application such as oil & gas, marine & aerospace, performance coatings, LVHS, day-lighting, automotive and construction. Among these segments, construction segment is likely to grow at a considerable pace over the forecast period. Improvements in the fragility and brittleness of aerogels have made them ideal for construction industry. Further, properties of aerogels such as light weight and low thermal conductivity element are key factors which are expected to bolster the growth of this segment over the forecast period.
Global aerogel market is expected to register a 13.2% CAGR over the forecast period. Moreover, the global aerogel market was valued at USD 312.5 Million in 2015 and is expected to reach at USD 1,896.2 Million by the end of 2021. The market is expected to expand on the back of rapid introduction of new applications of aerogels in numerous industries such as construction, marine & aerospace and others. Further, distinctive properties of aerogels and high demand for aerogel in development of products such as wetsuits, firefighter suits, paints, cosmetic products and nuclear weapons are envisioned to bolster the growth of market of aerogel in near future.
The silica segment by product type is showcasing great potential and is likely to grow at a remarkable pace during the forecast period. Rising demand for high thermal resistance products is envisioned to bolster the growth of this segment over the forecast period. Additionally, favorable government policies in order to adopt efficient silicates due to their numerous properties such as light weight and others is believed to fuel the growth of silica aerogel market in near years.
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Increasing Demand in Cosmetic Industry
Aerogel finds a numerous applications in cosmetic industry. Aerogels have a number of properties such as it can observe oil & moister and easily incorporates into various skin and beauty product formulations. This factor is projected to bolster the growth of aerogel market in upcoming years.
Increasing number of industries and rapid introduction of new applications of aerogel in various industries including aerospace, cosmetic, clothing and others are key factors which are likely to bolster the growth of market in upcoming years.
However, high production cost and availability of alternatives are some of the factors that are likely to inhibit the growth of the aerogel market in the near future.
The report titled “Aerogel Market : Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global aerogel market in terms of market segmentation by application, by product type, by forms, by process and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global aerogel market which includes company profiling of Aspen Aerogels Inc., Cabot Corporation, Aerogel Technologies LLC, BASF SE, Dow Corning Corporation., Insulgel High-Tech, NanoPore Incorporated, JIOS Aerogel and Enersens Aerogels. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aerogel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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