Development of Aerogel is an aftereffect of consolidated innovative work in material science and innovation. Aerogel is inferred by substitution of the liquid part of the gel with a gas. It is mesoporous solid foam; made out of an interconnected nanostructure arrange that shows least half porosity. Despite the fact that being solid, it is an amazingly porous material and is lightweight. Its low thermal conductivity makes it a flawless material to be utilized as building insulators. Also, aerogel sponge could be reused even after being utilized in the oil spills, which connotes its eco-friendliness and expense viability. These characteristics make alternatives for its utilization in numerous verticals, for example, oil & gas, human services, aviation, building protection, hardware, and others. The worldwide aerogel business was esteemed at $221.8 million in 2013 and it is assessed to arrive at $1,896.6 million by 2020, with a CAGR of 36.4% throughout the estimated period (from 2014 – 2020). With progressing headways in development of the materials and discovery of new markets, business is anticipated to grow exponentially.
High production expense is the essential controlling element for this business sector, as the load inevitably slides towards the purchasers. In addition, the commercial ventures, for example, petroleum, construction, power generation, and so forth are defenseless against cross-limit monetary conditions and consequently, the dependent markets, for example, aerogel encounters sales side difficulty in unfriendly budgetary conditions. Then again, the worldwide aerogel market has various open doors in future. Due to its thermal defensive execution, aerogel could be implanted in firefighter's defensive apparatuses. Additionally, because of its higher heat safety coupled with remarkably lightweight, it could be utilized as clothes for cold weathers. Other than these, by having high surface area, carbon aerogel could be utilized for hydrogen and electrical energy stockpiling.
Aerogel Raw Material Market Analysis
In terms of raw material, the market consist of silicon, , aluminum, carbon and other aerogel. In the year 2013, silica Aerogel generated maxium revenue and this sector would experience significant market growth rate in future. Silica aerogel has a wider application that boosts up the market growth and they are building insulation, acoustic insulation, oil & gas, automotive thermal insulation, chemical, cryogenics, health care, and so on.
Aerogel Form Market Analysis
Blankets, blocks panels and particles are the chief form that utilizes aerogel. In the year 2013, blanket was the largest sector in the overall aerogel market and would grow substantially in future. Panels segment is growing at a fastest rate, registering a CAGR of 41.0% during the predicted period. Aerogel is being utilized in numerous fields such as skylights, , conservatories, sloped sunrooms, greenhouses, walkways, canopies and curtain & interior walls,. Additionally, the recent launch of polyurethane aerogel is very light and has a simple production process. This factor is propelling the growth of aerogel panels segment.
Aerogel Application Market Analysis
Aerogel has a wider application such as building insulation, aerospace, automotive thermal management, oil & gas, health care, electronics, chemical, thermal & acoustic insulation, and such others. In the year 2013, building insulation application was the maximum revenue generator and is expected to grow quickly during the analyzed period. Acoustic insulation application has the fastest growth rate with a CAGR of 46.3% during the forecast period. The high porosity of aerogel reduces the sound velocity inside that result in higher sound absoroption ability. This trait of aerogel makes it popular as an acoustic solution.
Geography Market Analysis
The geographic segmentation of the market consists of North America, Europe, Asia Pacific, and Latin America, Middle East and Africa (LAMEA). North America is the maximum revenue generation region. was the largest revenue-generating region. Europe is growing fastest, registering a CAGR of 38.4% during the estimated period.
The strategies emulated by the key players in this business exhibit a reasonable idea about their passion and intensity in particular business fragment. Analysis of the organizations reveals their focus on product launch by coordinated effort and understanding for their business development, to enhance their items, and to locate new territorial markets for applications. The understandings among the organizations are centered to improve their operations and administrations. The greater parts of the assentions are identified with business development and improvement of product for insulation application. Joint effort and collaboration were in addition to different strategies embraced by business sector payers for the extension of their business. These techniques brought about the headway of the engineering and broadening of the products in the unexplored areas.
The Porter’s five-force analysis aptly measures the competitive environment of the aerogel market. The negotiating force of supplier is assessed to be high due to few suppliers in the business sector. In spite of the fact that aerogel is ended up being an improved insulator in comparison with regular insulators, manufacturers need to increase the product price to meet their production cost. As per the top investment belts study, building insulation is an attractive business sector. This business has tremendous development potential; nonetheless, financing in this segment, at present is relatively low. Despite the fact that the business sector is overwhelmed by the expected insulation solutions, aerogel producers would have a substantial share in the market.
• The report provides in-depth analysis of the current market scenario and offers expected future trends that would assist stakeholders in taking strategic and actionable decisions
• Quantitative analysis of the current market and estimations through 2013-2020
• Analysis of the market factors in various geographic regions helps understand business opportunities
• Identification of key investment pockets for various applications, services and geographies
• Identification of key players and their business performance analysis based on strategies followed by them
• Identification of key application segments based on future potential and growth prospects
• Top factors that are expected to affect the growth of the market along with impact analysis of every such factor
• Analysis and evaluation of market trends to provide deep-dive intelligence into every market segment
• Competitive analysis to effectively plan and execute business plan
• Micro level analysis based on application, service and geography
KEY MARKET SEGMENTS
MARKET BY RAW MATERIALS
MARKET BY FORM
MARKET BY APPLICATION
• Building insulation
• Oil & gas
• Automotive thermal management
• Industrial & cryogenics
• Other applications
MARKET BY GEOGRAPHY
• North America
• Asia Pacific
• Latin America, Middle East and Africa (LAMEA)