Thu. Nov 21st, 2019

APAC Newswire

Asia-Pacific News

Aerogels Market Set to Grow at Healthy CAGR of 19.2% by 2026 Aspen Aerogels, Inc.; Cabot Corporation; Aerogel Technologies, LLC; Guangdong Alison Hi-Tech Co.

4 min read

The company profiles of all the major players and brands that are dominating the market are covered in the report with respect to their moves like product launches, joint ventures, mergers and acquisitions. The Aerogels Market research report also explains in depth description, competitive scenario, product portfolio of key vendors and their business strategies with the help of SWOT analysis and porter’s five force analysis. This market report offers an actionable market insight with which sustainable and profitable business strategies can be built. This global Aerogels Market report has been prepared by conducting market research in a systematic manner.

Global aerogel market is set to witness a healthy CAGR of 19.3% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing application of aerogel in apparel market and rising demand from LVHS segment is the factor for the market growth.

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Top Manufacturers Covered in the Report:

Few of the major competitors currently working in the global aerogels market are Aspen Aerogels, Inc.; Cabot Corporation; Aerogel Technologies, LLC; Guangdong Alison Hi-Tech Co.,Ltd.; Active Aerogels; Enersens SAS; JIOS Aerogel Corporation; BASF SE; Svenska Aerogel Holding; Dow; Blueshift Materials Inc.; TAASI Corporation/ The Attia Applied Sciences, Inc.; Gelanggang Kencana Sdn. Bhd.; Guizhou Aerospace Wujiang Electro-mechanical Equipment Co.,Ltd.; American Elements; LIH FENG JIING ENTERPRISE CO., LTD. among others.

Market Definition: Global Aerogels Market

Aerogels are synthetically produced advanced material offerings which are utilized in a variety of applications ranging from thermal insulation, coatings, in construction applications and others. The product is known to have significantly high porosity, density, can be utilized and modified in different chemical structuring. The materials formulated from aerogel exhibit certain classifications such as being good insulators, catalysts, ferroelectric features as well as optical features and a variety of others.

Key Developments in the Market:

  • In April 2019, BASF SE and Aspen Aerogels, Inc. announced that they had extended their existing partnership dealing with the production of a new thermal insulation product. The product is a non-combustible insulator providing applications in a number of areas such as building, construction and a number of other areas. In support of the agreement Aspen has received a payment which will help in further innovations and developments for the market
  • In November 2016, JIOS Aerogel Corporation and Armacell announced that they had entered into a joint venture focusing on the development and manufacturing of silica aerogel blankets. The joint venture will formulate a new company which will be based out of Hong Kong as well as South Korea operating out of Armacell’s manufacturing center situated in Cheonan, South Korea

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Market Drivers:

  • Variety of benefits associated with the product such as significantly high thermal insulation rate is expected to boost the adoption rate of the market
  • Aerogel is a very light-weight and thinner alternative for a variety of applications which is expected to boost the growth of the market
  • Increasing demand from the end-use industrial verticals is also expected to drive the growth of the market
  • Durable nature of the product as well as resistance from fire combustion is also expected to augment the market growth

Market Restraints:

  • Requirement of large costs associated with the production of these products is expected to restrict the growth of the market
  • Lack in the mechanical strength of the products made out of aerogels is also expected to restrict its adoption rate

Competitive Analysis:

Global aerogels market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aerogels market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key market players involved in this industry
  • Detailed analysis of the market segmentation
  • Competitive analysis of the key players involved

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