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Aerogel Market is Expected to Grow at a 36.4% CAGR of during the Forecast 2013-2020

Big market research adds a report titled Global Aerogel Market (Raw Material Type, Forms, Applications, Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2013- 2020. According to the report, the aerogel market is expected to reach $1,896.6 million by the year 2020 from $221.8 million in year 2013, growing with a 36.4% CAGR amid forecast period (2014 - 2020). Europe and North America will lead the market as they would collectively generate around two-thirds of the market revenue by the year 2020. Volume-wise, the market would reach 953.1 million sq ft by the year 2020, from 105.6 million sq ft in the year 2013.

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Aerogel is incredibly light, amazingly strong, good heat insulator, high absorbent of water and oil. Owing to these unique features, it finds application among a host of industries such as oil & gas, insulations, aerospace, chemical, healthcare, automotive thermal management and , acoustic electronics.Producing such a unique material requires a lot of time and money so its mass scale application was restricted to making high-end products for oil & gas and aerospace. However, this is undergoing a change at present. Various cost effective, innovative techniques for manufacturing aerogel are underway which would reduce its cost considerably. Furthermore there are many incentives provided by organisations in Europe & Middle East since the adoption of aerogel in products would ensure technology as these aerogels are eco-friendly.

Silica, carbon and metal oxides are the most commonly used types of aerogels . It is silica that is most commonly used experimentally and also in practical applications due to it being ultra-light weight and excellent heat insulator. However, market for other types of aerogel is the fastest growing market with a 52.0% CAGR amid the forecast period. The market of polymer aerogel is fast emerging among other types of aerogels. The aerogel is primarily used in oil & gas industry and the material finds its secondary applications in industries such as agriculture, cryogenics, apparels and power generation. The market is segmented based on aerogel form, applications, raw materials used and by geographical location. Based on geography the market is segmented into North America, Europe, Asia pacific, Latin America & Africa and Middle East. Though the consumption of aerogel spans throughout the world almost uniformly, the major part of the production units are located in Europe & North America.

The report offers an in depth analysis of different market segments, their winning strategies, micro analysis of different industries and future potential of the market. The top companies profiled in this report are ., American Aerogel Corporation, Aspen Aerogels Inc, Dow Corning Corp, Cabot Corporation, JIOS Aerogel,BASF SE, Svenska Aerogel AB,Active Space Technologies, Airglass AB and Acoustiblok UK Ltd.

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