“Worldwide market size of aerogel is estimated to be more than USD 700 million in 2020”, says Visiongain
15 October 2019
Visiongain’s new report the Aerogel Market Report 2020-2030: Forecasts by Type (Silica, Polymer, and Carbon), by Form (Blanket, Panel, Particle, and Monolith), By Processing (Virgin, Composites, and Additives), By Application (Oil & Gas, Construction, Transportation, and Performance Coating), by region and analysis of leading companies operating in this industry.
The worldwide market size of aerogel is estimated to be more than USD 700 million in 2020 and is expected to grow over the forecast period at a CAGR of more than 20 percent. Major growth drivers for the industry are factors such as effective heat resistance and lighter and thinner alternatives to standard insulation. Industries such as petroleum and gas, design and manufacturing, automotive, and marine and aerospace are prominent end users. During the forecast period, increased demand for enhanced thermal insulation is anticipated to drive the market.
The construction and building industry is anticipated to be one of the market's main end-use sections, particularly with multi-market recovery in advanced areas. Buildings consume a big quantity of electricity; for example, 16.6% of U.S. total energy is used in building heating and cooling. Aerogel is used for super-insulating windows, skylights, solar panels and specialty windows in buildings.
Continuous changes in the environmental landscape and strict laws have led in enhanced focus and enhanced demand in industrial apps for insulated devices. The manufacture, design and operation of pipelines and other structures involve a versatile insulation material capable of providing the finest possible thermal insulation. This product provides much greater thermal efficiency with the same density compared to traditional insulation materials such as polyurethane foam, mineral wool, perlite, and cellular glass.
Researchers are constantly involved in finding low-cost and thinner isolation options. With reduced density, the weight of the insulation material decreases. Thinner insulation materials give advantages in the construction and construction industry, such as extra floor area and enhanced load capability. Some legislative bodies have also established business building regulations.
Blankets, particles, panels and monoliths are the primary forms of aerogel and, by customizing the manufacturing process, their properties can be altered based on requirements. As its thermal conductivity is connected to its density, customization is also feasible. New techniques likex-aerogel and polymer have resulted to non-brittle monolith aerogels being manufactured. Isolation for subsea pipelines in the oil and gas industry is a significant application for blankets. Improved energy efficiency is a important benefit offered by these blankets, resulting in decreased damaging emissions.
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