Transparency Market Research Report Added "Aerogels Market" to its database.
Albany, NY -- (SBWIRE) -- 07/14/2015 -- Aerogels are very light solid materials, made up of 99.98% air by volume. Though they are a thousand times less dense than glass, they can withstand higher temperatures and can provide more insulation compared to fiberglass. These highly desirable qualities of aerogels have led to their usage in various sectors such as marine and aerospace, oil and gas, construction, and automotive. The global aerogels market is expected to grow at a healthy CAGR during the period between 2012 and 2018.
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High Cost of Aerogels to Restrict Global Aerogels Market
Chemically, aerogel is a synthetic porous material and owing to its highly porous structure, it can capture moving dust. This led NASA to use aerogel in collecting comet dust or interstellar dust particles during its Stardust space mission.
The thermal and acoustic insulation properties displayed by aerogels are employed in various sectors and this is expected to boost the global aerogels market in the forecast period. Its energy efficiency and environment-friendly life cycle will further push the overall market. However, the high cost of production, coupled with the complicated manufacturing process of aerogels, will negatively impact the market. Silica aerogel, which is high in demand, is toxic and can be an irritant to the eyes, skin, and the digestive tract. Aerogels are expected to be in high demand owing to the development of the space and aviation industry in many countries.
Thermal and Acoustic Insulation Applications of Aerogels to Drive Global Aerogels Market
Aerogels are widely used as catalysts and photo-catalysts, filters, absorbents and adsorbents, solar thermal insulators, and in aerospace and space exploration. In terms of end user segments, the global aerogels market has been segmented into oil and gas, automotive, aerospace, building insulation, industrial, and cryogenic. The insulation properties of aerogels negate any kind of energy transfer – thermal, electrical, or acoustic. The revenue growth of the global aerogels market is mainly driven by its thermal and acoustic insulation applications. In another space mission – the Mars Pathfinder – aerogels were used to insulate the components of the roving probe to protect them from the high temperatures found on the surface of Mars.
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North America Leading Global Aerogels Market
The global aerogels market has been divided into four key regions: Asia Pacific, North America, Europe, and Rest of the World. North America is leading the aerogels market owing to the increasing demand from oil and gas and construction applications. Asia Pacific is the second largest market for aerogels and the key manufacturers are expanding their production bases in Asian countries due to the benefit from low-cost structures and growing local demand.
Key Players in Global Aerogels Market
Some of the key players in the global aerogels market are Cabot Corp., Dow Chemicals, and Aspen Aerogel. The key players are mainly located in North America and Europe. However, there are various small enterprises spread across other parts of the globe. The key players are heavily involved in research and new product development. The overall aerogels industry is moving towards investment in the implementation of the technologies to commercialize aerogel products.
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