Silica Aerogel Market size was over USD 415.3 Million in 2015 with 21.5% CAGR estimation from 2016 to 2023

Aerogel is a poor conductor of heat and this makes it good thermal insulator. This characteristic of silica allows the industries to adopt its derivatives such as silica aerogel for various industrial applications. Some of the major properties of silica aerogel such as high thermal resistance and convection inhibition are making it efficient at elevated temperatures. New opportunities are arising in the aerogel industry owing to spiked demand of high quality thermal insulators in various industries across the globe. There has been a significant progress which has been observed such as research and development activities related to aerogel in order to develop efficient and low cost aerogel derivatives.

Global silica aerogel market is anticipated to mask a noteworthy CAGR during the forecast period i.e. 2016-2023. Moreover, the global silica aerogel market accounted revenue of USD 415.3 Million in 2015. Additionally, the market is riding on the back of spiked growth in construction and aerospace industry.

Silica aerogel is the most widely used aerogel in industrial processes. The property of solidity and high strength makes it more advantageous in building and construction sector. The wide scale application of silica aerogel in aerospace industry is fostering the growth of silica aerogel market globally. It is effective to absorb infrared radiations which are beneficial to build solar houses. Likewise, high value of absorption of silica aerogel is making the most demanding material in chemical industries across the globe. Technological advancements in optics and light guides sector is expected to spur the demand for silica aerogel due to its high surface area and porosity of material.

Rising Government Initiatives
Favorable government policies in order to adopt efficient silicates due to their numerous properties such as light weight and others is believed to fuel the growth of silica aerogel market. For instance, government policies such as Energy Efficiency Directive are encouraging the consumers to adopt silica aerogel. This factor is projected to foster the growth of silica aerogel market.

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Growing Power Sector
Expansion of power sector has augmented the demand for high value insulators in terms of quality and grade and property of high thermal insulation and poor thermal conduction of silica aerogel are anticipated to impel the growth of silica aerogel market by the end of 2023. Moreover, various properties of silica aerogel such as high strength, light weight, high absorption rate and high surface area are attracting the consumers which are believed to flourish the growth of silica aerogel market.

On the contrary, high cost associated with silica is expected to dampen the growth of silica aerogel market throughout the globe.

The report titled “Silica Aerogel Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global silica aerogel market in terms of market segmentation by form, by process, by application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global silica aerogel market which includes company profiling of Aerogel Technologies, Cabot Corporation, Dow Corning Corporation, Aspen Aerogels, Inc., NanoPore Incorporated, JIOS Aerogel, Active Space Technologies, Guangdong Alison Hi-Tech, Insulgel High-Tech, Enersens Aerogels. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global silica aerogel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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