Aerogel Market:
Aerogels are manufactured from separating the liquid component by a supercritical drying process. They are porous and solid in nature. These gels are also called as frozen smoke, solid smoke, solid air, solid cloud, and blue smoke due to their transparent and scattering features. They are known for their lightweight nature, low conductivity, superior performance, and fire-resistant properties and these are the important factors which are influencing the market positively. Due to these factors, aerogels are used in various applications such as oil & gas, construction, transportation, performance coating, and others.
Among the various segments in the market, silica sub-segment holds a major portion due to its extensive consumption in end-use industries such as oil & gas, transportation, building insulation, aerospace, electronics, and others. They are mainly used to impart thermal and water resistance along with bio-compatibility to the final product.
Top Global Key Players: Some of the Top Key Players functioning in the Global Aerogel Market are: BASF SE (Germany), Aspen Aerogels Inc. (U.S.), Cabot Corporation (U.S.), Aerogel Technologies LLC (Germany), Nano High-Tech (China), Guangdong Zhaoqing L&V (China), Active Aerogels (Portugal), Enersens SAS (France), JIOS Aerogel Ltd. (U.S.), Svenska Aerogel AB (Sweden), among others
Market Segmentation: 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.
Regional Analysis: Geographically, Aerogel Market is segmented across Five Regions in the world namely: Asia Pacific, North America, Europe, Latin America, Middle East & Africa.
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. Asia Pacific is set to expand at a significant rate owing to growing demand for aerogel in construction, furniture, textiles, and other sectors. The enactment of new rules and regulations to use aerogel product in pipelines instead of steel has driven the market in the European region. Due to economic slowdown and use of expensive raw materials, Latin American region is estimated to witness a moderate growth in the market. The rising demand for high performance insulation materials in the Middle East & African region is projected to drive the market during the forecast period.
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