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CHEMICALS AND ADVANCED MATERIALS

Aerogel Market : Global Demand Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Aerogel Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Aerogel is kind of mesoporous solid froth obtained by replacement of the fluid element of the gel with a gas. Aerogel is the world’s lightest solid and it has low thermal conductivity element makes it an absolute building lining material.

Global aerogels market was estimated at USD 312.5 Million in 2015 and is anticipated to reach USD 1,896.2 Million in 2021, with a compound annual growth rate (CAGR) of 13.2% over the forecasted year 2015 to 2021.

Market Size and Forecast

In 2015, North America aerogel market accounted for more than 60% of the global revenue share in 2015 and it is anticipated that it will grow at a healthy rate owing to growing demand from the automotive, aerospace and marine industries. Europe aerogel market is projected to grow at a compound annual growth rate (CAGR) of 31.5% from 2015-2022 the market is anticipated raise owing to Severe guidelines for environment safety and building and construction strategies. Asia Pacific aerogel market is estimate to be the most profitable geographical market. The market is expected to grow at a compound annual growth rate (CAGR) of 38.2% from 2015 to 2021. CLICK TO DOWNLOAD SAMPLE

Market Segmentation

By Application

On the basis of by application the global aerogel market is segmented into:

  • Oil & gas
  • Marine & aerospace
  • Performance coatings
  • LVHS
  • Day-lighting
  • Automotive
  • Construction

By Product Types

On the basis of by product types the global aerogel market is segmented into:

By Forms

On the basis of by forms the global aerogel market is segmented into:

  • Monolith
  • Blanket
  • Article
  • Panel form

By Process

On the basis of by forms the global aerogel market is segmented into:

  • Virgin processed
  • Fabricated

Growth Drivers and challenges

Intensifying demand from the end users of aerogel for instance oil & gas, automotive, marine and aerospace, etc. Increasing globalization leading to an escalation in investments and new players in the industry are the factors which drive the growth of global aerogel market in near future. In addition to that some characteristics of aerogel such as high insulation, cheap and rich in availability of the raw material are certain factors driving the growth of global aerogel market over the forecasted period i.e. 2015-2021.

High production cost and high investment are the major factors which restraints the growth of global aerogel market in the upcoming years.

By Region

On the basis of by region the global aerogel market is segmented into:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Key Players

  • Aspen Aerogels Inc.
  • Cabot Corporation
  • Aerogel Technologies LLC
  • BASF SE
  • Dow Corning Corporation.

 


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