Dallas, TX -- (SBWIRE) -- 12/09/2014 -- The aerogel market is projected to register a CAGR of 19.1% between 2014 and 2019 to reach 26,093.2 metric tons. The oil & gas application is witnessing a CAGR of 11.8% and constitutes a significant part of the overall aerogel market. However, the automotive, marine, & aerospace application is projected to register a high CAGR of 39.0% by 2019.

Aerogel is an advanced high-performance insulation material that has high load-bearing capacity with high resistance to thermal, flame, moisture, sound, and weather. These unique properties find applications for aerogel, such as oil & gas, construction, automotive, marine, & aerospace, performance coating, day-lighting & LVHS among others. The market for aerogel is estimated to grow on account of their outstanding physical properties and increasing need for advanced insulation materials for energy savings. High production costs, relatively low degree of commercialization, lack of huge industrial capacity, and high investment and R&D costs are expected to be the restraining factors for the market.

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Region-wise, North America is leading the aerogel market. Growth in North America is led by the rising demand for oil & gas and construction applications due to increased insulation and energy saving concerns in the region. Asia-Pacific is estimated to be the second largest market for aerogel due to the region's favorable prospects; several companies are expanding their production capacity in Asian countries to benefit from the low-cost structures and growing local demand for aerogel materials in various industries, such as oil & gas, construction, automotive, among others. Blanket material is projected to have the biggest market of aerogel by form due to its flexibility and ease of handling. Silica aerogel had the largest market size in 2013 and will continue to dominate till 2019 on account of its commercial availability and wide-spread applications in several end-use industries.

Companies profiled in aerogel market research report are Active Aerogels, Aerogel Technologies LLC, Aspen Aerogels Inc., BASF SE, Cabot Corporation, Enersens SAS, Guangdong Alison Hi-Tech Co. Ltd., Nano High-Tech Co. Ltd., and Jios Aerogel Limited. Order a copy of this research
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