Aerogel Market:
Aerogels are produced by a combination of silica, solvent, and the resulting product is formed by removing the water through supercritical drying process. They are extensively used in refrigeration, buildings & construction to impart heat resistance and durable nature to the final product. Moreover, they also provide reliability and versatility to the product.
The global aerogel market is driven by the scope of its application in various sectors such as oil & gas, construction, transportation, performance coating, and others. Moreover, oil & gas segment is set to grow at a higher CAGR owing to the endless use of insulation materials in the sector.
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Regional Analysis:
Geographically, Aerogel Market is segmented across Five Regions in the world namely; Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Among these, Asia Pacific is set to expand at a significant rate owing to growing demand for aerogel in construction, furniture, textiles, and other sectors. In this region, the manufacturers and investors are shifting their focus from heavy materials to lighter products in end-use applications. 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.
Market Categorization:
The Global Aerogel Market is segmented into the type, form, processing, and application. On the basis of the type, the market is segregated into silica, polymer, and carbon segments. The market by form is sub-divided into blanket, panel, particle, and monolith 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, and others.
Top Global Players:
Some of the Top Key Players functioning in the Global Aerogel Market are: Cabot Corporation (U.S.), Active Aerogels (Portugal), BASF SE (Germany), Aspen Aerogels Inc. (U.S.), Aerogel Technologies LLC (Germany), Nano High-Tech (China), Guangdong Zhaoqing L&V (China), Enersens SAS (France), JIOS Aerogel Ltd. (U.S.), Svenska Aerogel AB (Sweden), among others
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