The research conducted to combine technology and material sciences resulted in the invention of Aerogel. When gas is replaced with a liquid component of the gel, the resultant derivative is known as Aerogel. Although it comes in solid form, it is still lightweight and porous. Further, it being low in thermal conductivity, it is an apt material to construct insulators.The report by Allied Market Research on the Global Aerogel Market provides detailed information with all the market trends and growth prospects. This report would provide a platform for those industries that are planning to foray in the aerogle market.
The report states that the global aerogel market would touch a figure of $1,896.6 million, growing at a CAGR of 36.4% during 2014 - 2020. North America and Europe are expected to contribute about two-third of the market revenue during 2014-2020.
One Important highlight of the report:
Europe and North America are home to more than 85% of the aerogel production facilities.
Aerogel Market Drivers -
Stronger thermal insulation characteristics
Supporting government policies
Rising need for thermal insulators, reusability and easy installation
Key materials used to manufacture aerogel -
Due to strong insulation properties, Silica is the most popular source to manufacture aerogel.
Application segments of aerogel are listed below-
Oil & gas
Automotive thermal management
Europe is expected to take over North America as the highest revenue generating segment by 2020.
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.