Technavio Announces the Publication of its Research Report Global Aerogel market 2016-2020
Technavio recognizes the following companies as the key players in the global aerogel market: American Aerogel, Aspen Aerogels, Aerogel Technologies, BASF, and Cabot.
Other Prominent Vendors in the market are: Nano High-Tech, Guangdong Alison Hi-Tech, Active Aerogels, Enersens SAS, and JIOS Aerogel.
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Commenting on the report, an analyst from Technavios team said: The demand from the LVHS segment will gain traction in this market. The LVHS segment involves advanced materials for high-end technology applications such as energy conversion batteries, fuel cells, detectors, sensors, biotechnology drug delivery systems, renewable energy technology, chromatography, microelectronics, and space research. Even though this segment consumes only a small volume of aerogel, the demand is expected to grow rapidly between 2015 and 2020. The demand for custom-made aerogel (monolith) is more in the LVHS segment, as the requirements may vary depending on specific applications.
According to the report, the use of ecofriendly material will drive the global aerogel market. Aerogel is a reusable material that can be used consecutively for a chain of applications and can be disposed of safely. For example, aerogel blankets used for insulation of buildings can be reused by processing them as composites or additives for other applications such as coatings and plasters. Most of the traditional insulating materials are non-recyclable and non-biodegradable. In contrast, aerogels can be reused as composites and additives in applications such as soil conditioners, fertilizers, and performance coatings
Further, the report states that the high production cost of aerogels is one of the major restraints that can negatively affect the growth of the global aerogel market over the next five years. The production cost of silica aerogels is primarily linked to three main factors. These include high cost of raw materials (for alkoxide-based precursor materials), cumbersome production technologies (solvent exchange steps and long reaction times limited by diffusion), and perhaps most importantly, the relatively small production capacities of companies.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Aerogel, popularly known as frozen smoke, is derived from the gel of materials like silica, alumina, chromia, and tin oxide. Aerogel can withstand a pressure of up to 4,000 times its own weight. It is an excellent thermal insulator because of its high internal surface area, while its low density makes it light weight. Air cavities in the material render it high adsorption properties.
Technavios analysts forecast the global aerogel market to grow at a CAGR of 19.01% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global aerogel market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of aerogel products in the oil and gas; construction; automotive, marine, and aerospace; performance coating; day-lighting and LVHS; and other industries has been considered.
The market is divided into the following segments based on geography:
Technavio’s report, Global Aerogel Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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