The Global Aerogel Market is Projected to Reach USD Billion by 2027, Growing with a CAGR of % From 2020 to 2027.
Published | 20 January 2021
According to BlueWeave Consulting, the Global Aerogel Market did reach million in 2019 and is further anticipated to
get to USD million by 2027, growing at a
CAGR rate of approx. % during the
forecast time-frame. Aerogels are materials made with several compositions that
have light, porous and foamy consistency. They are produced synthetically,
having a “gel-like” texture that has its liquid replaced with a complementary
gas that aids to the structural stability. This results in a solid structure of
an exceptionally low thermal conductivity, density, and weight along with the
low refractive index, low sound speed, low dielectric constant, low thermal
conductivity, etc. An aerogel may be produced by removing the liquid component
of a gel by applying the process of supercritical drying or freeze-drying.
“Alternative for Light and Thin materials”
Industries worldwide have been looking
for various innovations, research, and developments to carry out in order to
get their end products, establishments, etc. lighter in weight and sturdy in
structures. That’s why the adoption of these materials is extensively being
made in buildings for insulation-related purposes, and to increase the
aesthetic appearance of the buildings & establishments. The qualities of
aerogel such as low thermal conductance and low density, less thickness,
optical transparency make it ideal for applications in windowpanes, daylights,
solar energy collector covers, etc. Additionally, the porous structural
abilities of a gel giving aerogels acoustic property for noise cancellation,
indoor air purification characteristic, and non-combustibility- for inorganic
gels for fire retardation properties.
“Aerogel used as Medium for Storage and transportation”
The Global market for Aerogel is about to
grow in the anticipated projected period, due to the porous property of aerogel
that results in increased surface area, which is utilized for applications such
as encapsulation of several liquids or fluids. A semi-sintered aerogel can
resist the tensions exerted by fluids, therefore they could be used as storage
and transportation of fluids for example rocket hydrogen fuels.
“North America, Europe, and LAMEA to dominate the market”
On regional analysis, it was found that
with a value of 39% North America dominated the market for aerogels in 2019. In
the same year, Europe with Latin America, the Middle East and Africa accounted
for about 34.59 % share. North America’s growth was credited to the fact that
consumers are growing more aware of sustainable growth and want to have
constructions done based on these principles where the adoption of aerogel
would help and get an accelerated market growth for the upcoming period. Europe
will have steady growth with a considerable CAGR value, which will take the
growth of market growth high in the expected time frame.
The key players for Global Aerogel Market are Aspen, Armacell, Aerogels Inc., Aerogel Technologies, BASF SE, CF
Technologies, The Dow Chemical Company, Cabot Corporation, JIOS Aerogel
Corporation, Svenska Aerogel Holding AB, and Ocellus Inc. amongst several
others.
Do not miss the business
opportunity of the Global Aerogel MarketConsult our analyst, gain crucial
insights, and facilitate your business growth.
The
in-depth analysis of the report provides the growth potential, upcoming trends,
and statistics of the Global Aerogel Market size & forecast. The report promises to provide state-of-the-art
technology of the Global Aerogel Market and industry insights, which help decision-makers to make
sound strategic decisions. Furthermore, the report also analyzes the market
drivers, challenges, and competitive analysis of the market.
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