Global Aerogel Market 2018-2022
Aerogel is popularly known as frozen smoke. Basically, it is a dry and solid framework of gel based on silica, polymer, carbon, and other materials. Aerogel can withstand the pressure of up to 4,000 times its own weight. It is an excellent thermal insulator because of its high internal surface area, while its low density makes it light in weight.
Technavio’s analysts forecast the global aerogel market to grow at a CAGR of 18.63% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global aerogel market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aerogel Market 2018-2022
Technavio recognizes the following companies as the key players in the global aerogel market: American Aerogel, Aspen Aerogels, Aerogel Technologies, BASF, Cabot Corporation, and Nano Technology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing use of apparels for colder provinces. Aerogel can be extensively used by mountaineers who carry heavy luggage to protect themselves from harsh conditions. Additionally, aerogel exhibit several properties like fire and water resistance, thermal resistance, and flexibility, which makes it ideal for winter clothing.”
According to the report, one driver in the market is growing demand for light-weight and thinner substitute. Several countries such as the US, South Korea, and Germany are focusing on minimizing their energy consumption. The demand for insulation materials is expected to increase owing to the growing adoption of different energy consumptions and insulation standards.
Further, the report states that one challenge in the market is high cost of production. The high manufacturing cost of aerogels is one of the major challenges to the growth in the global aerogel market. The manufacturing cost of silica aerogels is principally linked to three key factors.
American Aerogel, Aspen Aerogels, Aerogel Technologies, BASF, Cabot Corporation, and Nano Technology.