The aerogel is a synthetic porous material derivative of gel. Silica aerogel is the most common aerogel comprise different properties such as thermal conductivity, mechanical and electrical property, transparency and other important properties to use in various end-use applications. The silica aerogel mainly used in the oil and gas industry as a chemical absorber and in the construction industry for building insulation is estimated to boost the global silica aerogel market over the forecast period. The global silica aerogel market is expected to grow with a high-end single-digit CAGR over the forecast period due to the growth in the production and demand for silica aerogel across the globe. The significant industrialization and urbanization in emerging regions such as APEJ and Latin America considered being a growth factor for the silica aerogel market.
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Global Silica Aerogel Market growth Triggered by Growing demand from Oil & Gas Industry
The silica aerogel can be classified on the basis of the form as monolith, panel, blanket, and other forms. Moreover, the silica aerogel can also be classified on the basis of the end use industries as aerospace industry, oil and gas industry, healthcare, building & construction, automotive and other end-use industry. The demand from the construction industry for building insulation likely to boost the growth of the silica aerogel market in the forecast period.
Property of Thermal Stability for Building Insulation Likely to boost the Silica Aerogel Market Growth
The silica aerogel majorly used as a chemical absorber in the cleaning of the oil spills due to their property of high surface area. The silica aerogel is used widely in IC applications as they have unique properties such as high thermal stability, high porosity, and ultralow dielectric constants. The silica aerogel is also used as an absorbent for organic oils and solvents in different end-use industry. Moreover, the silica aerogel has high surface active sites, high overall porosity, and good pore accessibility and therefore used as sensors. The extensive applications of silica aerogel are driving the demand for silica aerogel in different regions. The aforementioned applications of the silica aerogel for the different end-use industry is anticipated to expand the silica aerogel market across the globe. The macroeconomic factors of strengthen trade investment and relationship between different countries across the globe expected to boost the global silica aerogel market.
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Widespread Application of Silica Aerogel Creates Ample of Opportunity for Manufacturers
Some of the key players in the global silica aerogel market are Cabot Corporation, BASF SE, Airglass AB, Acoustiblok UK Ltd., Aspen Aerogel Inc., JIOS Active Aerogels, Dow Corning Corporation, American Aerogel Corporation, Aerogel, Svenska Aerogel AB, and others. The prominent players are concentrating on the extension of their production abilities and vertical integration for business development. The marketing strategy by manufacturers is expected to contribute for the growth of silica aerogel market in the forecast period, 2018-2028.
The research report presents a comprehensive assessment of the silica aerogel market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The silica aerogel market research report provides analysis and information according to market segments such as geographies, application and industry.
Global Silica Aerogel Market expected to dominate by North America in the forecast period
The global silica aerogel market can be segmented on the basis of the geography as Western Europe, North America, Asia, and Pacific excluding Japan (APEJ), Eastern Europe, Latin America, Japan, and the Middle East and Africa (MEA). The regional segments also include emerging countries such as China, India, and Australia in the silica aerogel market. Among the segmented regions, sales and demand for the silica aerogel in North America are expected to hold a significant share in the global market.
Moreover, the substantial growth of the building & construction industry in the developing regions such as Asia and Pacific excluding Japan (APEJ) and Latin America is expected to contribute for the growth of the global silica aerogel market in the forecast period. The development in automotive and aerospace industry and the growing use of silica aerogel is anticipated to enhance the silica aerogel market across the globe.
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