Market Research Future Published Study Research Report on Silica Aerogel Market Research Report – Forecast to 2023
Growing Demand in the Oil & Gas Sector Drives the Global Market for the Silica Aerogels Market
Silica Aerogel Market Overview:
Aerogels are a synthetic ultra-light material derived from gel. The liquid element of the gel is replaced with gas. Aerogel can be of several types such as carbon, polymers, and silicon among others. Silica aerogels find wide application, which are derived by an innovative sober technique. Silica aerogels have drawn a huge interest both in technology and science owing to their low bulk density (up to 95% of their volume is air), low thermal conductivity, hydrophobicity, optical transparency, and high surface area.
Hence, it is used in different end-user industries such as building insulation, oil & gas, transportation, and aerospace & defense.
The increasing demand from the end-user industries is likely to propel the development of the global silica aerogel market. The increasing urbanization and industrialization in the growing regions across the world have been projected to boost the market growth over forecast period. Besides, the expanding energy demand has propelled the gas and oil industry, which, in turn, is adding to the growth of the market. The global silica aerogel has been anticipated to develop at a growing CAGR on account of surging application of silica aerogel in the energy sector.
The oil and gas industry ruled the worldwide market in 2017 and is anticipated to continue dominating over the forecast period 2018-2023. Improved thermal insulation properties of silica aerogel enables its application in the oil and gas sector.
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Silica Aerogel Market Key Players:
The global silica aerogel market has been dominated by key players such as The Dow Chemical Company (U.S.), BASF SE (Germany), Aspen Aerogels Inc. (U.S), Cabot Corporation (U.S.), JIOS Aerogel Corporation (Korea), Svenska Aerogel Holding AB (Sweden), Aerogel Technologies (U.S.), Ocellus Inc (U.S.), and CF Technologies (U.S.).
Silica Aerogel Market Segmental Analysis:
The worldwide silica aerogel market has been segmented into end-use and form industry. Based on form, the market has been segmented into panel, monolith, blanket, and others. Based on end-use of the application, the market has been segmented into building insulation, oil & gas, automotive, aerospace, industrial insulation, and others.
Silica Aerogel Market Regional Analysis:
Geographically, silica aerogel market has been segmented across five regions namely Latin America, Europe, North America, Asia Pacific, and the Middle East & Africa.
Asia Pacific has been the fastest growing market. North America holds the second leading market across the world, which is closely followed by Europe. The North American silica aerogel market is likely to grow at a developing CAGR over the forecast period due to the increasing oil and gas activities post the shale gas boom. Silica aerogel finds wide application in the oil and gas industry in gas processing plants, refineries, and subsea piping. Additionally, the growing construction and building sector and the automobile sectors are expected to contribute to the development of the market over the forecast years. Asia Pacific market has been anticipated to develop at a considerable CAGR over the forecast period. The robust industrialization in the expanding regions has increased the use of silica aerogel in a wide range of applications such as automotive, oil & gas, and building insulation among others. The developing population mainly in China and India has surged the oil and gas activities, which in turn, propelled the demand for silica aerogel.
The European region has been projected to be the second largest market owing to the expanding oil & gas sector and automobile sector.
The increasing demand for industrial insulation and building is also positively influencing the growth of the market. The Middle Eastern market for silica aerogel is anticipated to witness a steady growth over the forecast period. The increasing oil & gas activities in the region is further likely to drive the market growth.
Silica Aerogel Market Table Of Contents to be Continue……,
Browse key industry insights spread across 142 pages with 33 market data tables & 11 figures & charts from the report, “Silica Aerogel Market Research Report: By Form (Blanket, Panel, Monolith), The Application (Oil & Gas, Building Insulation, Industrial Insulation, Aerospace & Defense, Automobile) – Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/silica-aerogel-market-884
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