Silica Aerogel Market:
Aerogels are a synthetic ultra-light material derived from gel, where the liquid component of the gel is replaced with gas. Aerogel can be of many types such as silicon, carbon, and polymers among others. Silica aerogels are most extensively used, which are derived by a modified stober process. Silica aerogel possesses a number of properties such as enhanced thermal insulation, cost-effective, and recyclable. Therefore, it is used in many end-user industries such as oil & gas, building insulation, aerospace & defense, and transportation.
The growing demand from the end-user industries is driving the growth of the global silica aerogel market. The growing industrialization and urbanization in the developing regions across the globe is expected to boost the market growth during the forecast period. Moreover, the growing energy demand has boosted the oil and gas sector, which, in turn, is adding to the growth of the market. The global silica aerogel is expected to grow at an expanding CAGR on account of increasing application of silica aerogel in the energy sector.
The oil and gas segment dominated the global market in 2016 and is expected to continue the dominating over the forecast period 2017-2023. Excellent thermal insulations properties of silica aerogel facilitate its use in the oil and gas industry.
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Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of silica aerogel market. Detailed analysis is explained and given importance to with best working models.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of silica aerogel market during the forecast period of 2017 to 2023 is well explained.
The global silica aerogel market is segmented into form and end-use industry. On the basis of the form, the market is segmented into blanket, monolith, panel, and others. On the basis of the application, the market is further bifurcated into oil & gas, building insulation, industrial insulation, automotive, aerospace, and others.
Market Key Players:
BASF SE (Germany),
The Dow Chemical Company (U.S.),
Cabot Corporation (U.S.),
Aspen Aerogels Inc. (U.S),
Aerogel Technologies (U.S.),
JIOS Aerogel Corporation (Korea),
Svenska Aerogel Holding AB (Sweden),
CF Technologies (U.S.),
Ocellus Inc (U.S.).
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