Aerogels Market for Construction, Oil & Gas, Transportation, Electronics and Other End-users – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023
NEW YORK, Sept. 21, 2016 /PRNewswire/ — Aerogels are one of the most advanced lightweight composite materials that contain more than 95% air and silica or any other material particles suspended in intricate three dimensional porous structure. Aerogels are gels, wherein the liquid phase is replaced by air by keeping the solid phase undamaged. Aerogels were first synthesized in 1931 by Samuel Kistler. However, high cost associated with the production of aerogels resulted in slow commercialization of aerogels. Thus, usage of aerogels was restricted to high-end applications. Aerogels exhibit low density, porous structure, and low thermal conductivity. This makes them suitable for usage in various applications that require light weight and low thermal conductivity such as insulation in petrochemical, construction, and aerospace industries. Expansion in the insulation industry has propelled the usage of aerogels in various end-user industries. The large array of properties make aerogels most suitable in applications that require light weight and low thermal conductivity. Rising demand for aerogels in oil & gas and construction industries is likely to drive the aerogels market in the next few years. However, availability of various low-cost substitutes and high cost associated with the production of aerogels are projected to hamper market growth during the forecast period. High demand in the transportation industry is expected to act as a major opportunity for aerogels in the next few years.
The report includes detailed value chain analysis, which provides a comprehensive view of the global aerogels market. Porter’s Five Forces model for the aerogels market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides the estimated market size of aerogels for 2015 and forecast for the next eight years. The global market size of aerogels is provided in terms of volume and revenue. Market volume has been defined in tons, while market revenue is in US$ Mn. Market numbers are estimated based on key products and end-users of aerogels. Market size and forecast for products and end-users have been provided in terms of global, regional, and country level markets.
The report segments the global aerogels market as follows: