MarketsandMarkets has released a new forecast report on the global aerogel market from 2012 to 2017. The report classifies the market based on application and geography and it examines trends in each submarket.
The market is divided into Asia, Europe and North America based on geography and it is segmented into automotive, aerospace, oil and gas, building insulation and others based on application. The report also discusses market opportunities, challenges, restraints and drivers, as well as profiles of major players in the industry.
Aerogel is solid foam, which includes nearly 98% air, and it is commonly referred as blue smoke. It is available in four different categories: organic aerogels, metal oxide, carbon and silica. Aerogel exhibits superior thermal properties when compared to conventional insulating materials like XPS, EPS, stone wool, rock wool and glass wool. The material also helps to save space in the building insulation industry. However, wide application of aerogel is limited due to its high price. The use of the material in high-end technical procedures, such as supercritical drying, leads to the high end costs. Hence, several firms are seeking ways to significantly decrease the manufacturing cost of aerogel. At present, companies in North America dominate the worldwide aerogel market, while the Asian market is still at its early stage, as it lacks technical expertise. Aerogel manufacturing in Asia is anticipated to grow in the future due to the rising demand and broad application of the material.
Source: http://www.marketsandmarkets.com/