Research Nester published a report titled “Aerogel Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global aerogel market in terms of market segmentation by type, application, form, process and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The aerogel market is segmented by type into silica, polymer, carbon, and others, out of which the silica segment occupies a significant share in the market, and is estimated to continue this trend till the end of 2029. This can be accounted to the significantly low cost and superior insulating properties of silica aerogels. Optimal transparency and low thermal conductivity also provide an edge to this segment in the market, therefore leading to an increase in the demand for silica aerogels.
The global aerogel market is projected to grow with a significant CAGR during the forecast period, i.e., 2021-2029, on the back of intensifying use of aerogels in a wide variety of industries. Furthermore, increasing research & development and rapid technological advancements in the field of aerospace and automotive in developed and developing nations are also expected to contribute to the market growth.
Geographically, the aerogel market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and the Middle East & Africa, out of which, the market in North America is evaluated to grow at the highest rate over the forecast period. This growth can be attributed to the rising demand for aerogels from aerospace and construction industries in the region.
Increasing Demand for Aerogels from End-Users and its Distinguished Properties
Owing to high thermal resistance, aerogels are widely used in oil & gas, aerospace and construction industries for pipelining and insulation purposes. Being thinner and lighter, these minerals save a considerable amount of energy involved in the processes of heating and cooling. Such factors are therefore anticipated to drive the growth of the market.
However, expensive production cost, burdensome process technologies and highly specialized production mechanisms are expected to operate as key restraints to the growth of the aerogel market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the aerogel market which includes company profiling of Aerogel Technologies, LLC, CMC Materials Corporation (NASDAQ: CCMP), Aspen Aerogels, Inc. (NYSE: ASPN), BASF SE (ETR: BAS), Nano Tech Co., Ltd., Armacell International S.A., Svenska Aerogel Holding AB (FRA: 5L8), Green Earth Technology SL, Active Aerogels, and Guangdong Alison Hi-Tech Co., Ltd. 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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