Global Aerogel Market - Segmented by Type, Application and Geography - Trends and Forecasts (2014-2020) - Reportlinker Review
NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Global Aerogel market was currently valued at $294.1 million in 2014 and is expected to reach $1598.6 million by 2020 showing a compound annual growth rate of 32.6%. Among all the regions in the world North America is the largest market for Aerogel accounting for over 60% of the market owing to the special interest towards research, development and innovation, use of new materials in that region. Asia Pacific is the fastest growing market during the period 2014-2020 due to the technological advancement in that region. Aerogel is a synthetic porous ultra-light material derived from a gel, in which the liquid component of the gel has been replaced with a gas.
Other Aerogel is the fastest growing segment in the segmentation of aerogel based on raw materials showing a CAGR of 47%.Silica aerogel was the largest revenue generated aerogel in 2014. Oil and gas end user industry segmentation dominated the aerogel market with about 72% in 2014.The Blanket is the leading segment of aerogel market by form globally. It accounted for a share of 82% of the total market in 2014.
Among all the countries in the world North America is the largest consumer and producer of Aerogel due to its strong innovational technologies setup. China is the second largest consumer of Aerogel in the world. Aerogel has been used in Space suits by the National aeronautics and space administration(NASA) in the United States. Brazil, Japan, United Kingdom, Germany are among the few other countries who have been using aerogels in large amounts.
The key players in Aerogel market include Acoustiblok UK Ltd, AirGlass AB, BASF SE, Dow Chemical Corporation, Honeywell International, SVENSKA Aerogel AB, Green Earth Aerogel Technologies.
DRIVERS: Growth is largely fueled by the increasing demand from developing countries in Asia Pacific and Europe due to their increasing research in innovation of materials and new application areas. Aerogel is very easy to install as an insulator and is lighter, thinner and more durable than conventional insulators which adds to the growth of this market. Furthermore Aerogel is reusable and recyclable adding to the benefits of using aerogel.
RESTRAINTS: Higher costs of production serves as a major restraint for the growth of the Aerogel market since it becomes very difficult to buy the end product for the customers who ultimately have to take the whole burden. Adverse economic condition in a particular industry also affects the market as it decreases the overall sales of aerogel in the market. Volatility in the raw materials also hinders the growth of this market.
What the report contains
The report elucidates the situation of Aerogel around the world and studies its markets segmented by Raw materials which includes Silica, Carbon, Alumina and Others; by Form which includes Blankets, Particles, Blocks and Panels; by Application which includes Building insulation, Acoustic insulation, day-lighting, fire protection , Automotive thermal management, Industrial & cryogenics and Other applications; by end user industry which includes Oil and gas, Construction, Automotive, Marine, Aerospace and Others.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 6 years.
Read the full report: http://www.reportlinker.com/p03281919-summary/view-report.html
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