The new report by Expert Market Research titled, ‘Aerogel Insulation Market Price, Share, Size, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028’, gives an in-depth analysis of the Global Aerogel Insulation Market, assessing the market based on its segments like types, process types, distribution channels, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 645 million
- Forecast CAGR (2023-2028): 10%
Silica aerogel is a light solid produced from a gel in which the liquid element has been replaced by gas. The technique creates a solid with a very low density and several unique features, the most notable of which is its ability to act as a thermal insulator. The aerogel insulation industry in North America is predicted to grow steadily in the next years due to large product demand in various industries such as maritime, car, and oil & gas in the region.
Aside from that, in the projected period, the growing demand for low-density solid substances is expected to alter the market environment. Meanwhile, due to large-scale funding of various infrastructure projects in countries like China, India, and Thailand, the Asia Pacific aerogel insulation sector is expected to grow significantly in the future years.
Aerogel Insulation Industry Definition and Major Segments
Carbon collection, filtration, and energy storage are just a few of the novel applications for aerogels. These are known as aerogel insulation when used as an insulating material.
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The market can be divided into the following segments based on type:
The market can be divided based on the form:
The industry end-use can be categorized as:
- Oil and Gas
- Building and Construction
- Aerospace and Marine
- Performance Coatings
The leading regional markets for Aerogel insulation are:
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
Aerogel Insulation Market Trends
Consumer tastes are evolving toward sustainable construction materials that can lower carbon footprints, which will promote the growth of the aerogel insulation business. In addition, benefits such as high porosity proportion, stiff low-density content, and core air composition would accelerate the expansion of aerogel insulation demand.
Aside from that, the aerogel insulation sector will expand in the next years due to its cost-effectiveness due to its superior thermal insulating properties to other high-performing insulating materials. Furthermore, the constant developments in the electronics industry and a shift in the tendency toward digital technology are projected to boost market expansion.
Key Market Players
The major players in the market are BASF SE, Aerogel Technologies, LLC, Aspen Aerogels, Inc., and Cabot Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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