Silica Aerogel Market Projected to Have a Stable Growth for the Next Several Years Including BASF SE, The Dow Chemical Company, Cabot Corporation, Aspen Aerogels, Inc., Aerogel Technologies, LLC, JIOS Aerogel Corporation, Svenska Aerogel Holding AB, MAERO

The global silica aerogel market is expected to grow at a CAGR of 31.1% during the forecast period. The major factors driving the growth of the global market include superior thermal insulation and lighter alternative, environment-friendly material and a large base of end-use applications. Additionally, silica aerogel is a potential substitute for conventional insulation materials and its use in fabrication of apparels for low temperature weather has further boosted the demand for silica aerogel.

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These features increase its applicability in various industries such as aerospace, oil & gas, electronics, healthcare, electronics and building insulation. Silica aerogel is a reusable solid that can be used consecutively for a chain of applications and disposed of safely.

The raw materials used for manufacturing silica aerogel materials are environment-friendly. Silica aerogel materials are similar to naturally-occurring minerals (silicates are abundantly available minerals on Earth) that do not emit or possess harmful chemicals. Silica aerogel sponges are recyclable, and therefore, are cost-effective and eco-friendly.

The report finds that North America has been the largest market for silica aerogel. The ongoing research and development programs are propelling the regional growth in of silica aerogel. NASA, along with key industry players, has explored the use of diverse types of aerogel for multiple applications.

Europe is expected to come out as the fastest growing region for silica aerogel during the forecast period. The European market is propelled by the building insulation industry and the European Union’s energy efficiency policy mandates for all buildings to cut their energy consumption by 20% (generally known as 20-20-20 energy policy) till 2020.

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The key companies operating in the global silica aerogel market include BASF SE, The Dow Chemical Company, Cabot Corporation, Aspen Aerogels, Inc., Aerogel Technologies, LLC, JIOS Aerogel Corporation, Svenska Aerogel Holding AB, MAERO TECH SDN BHD and Ocellus Inc.

GLOBAL SILICA AEROGEL MARKET SEGMENTATION

By Form

Blanket
Panel
Monolith
Others
By Application

Oil and gas
Building insulation
Industrial insulation
Aerospace and defense
Transportation
Others
By Region

North America
The U.S.
Canada
Rest of North America
Europe
Germany
The U.K.
France
Spain
Sweden
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Malaysia
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Rest of RoW

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This release was published on openPR.