Global Aerogel Insulation Market: Overview
Existence of aerogels can be traced back to more than 80 years. Dr. Samuel Kistler from the College of the Pacific in California invented silica aerogel in the year 1931. Silica aerogel is a lightweight solid which is extracted from a gel and in which gas replaces the liquid component that is present inside the gel. After the removal of liquid, a “puffed-up sand” type substance with 99% porosity remains there. A very low density solid with many remarkable properties, particularly its efficacy as a thermal insulator emerges out of the process. Aerogels are used in several emerging applications such as carbon capture, filtration, and energy storage.
In its upcoming report on global aerogel insulation market, Transparency Market Research has kept the focus on elaborating every detail of the market that is necessary for the business to thrive in the years to come. The report describes key market trends, challenges, geographical analysis, opportunities, and competitive landscape of the market.
Global Aerogel Insulation Market: Notable Developments
There have been some notable developments in the global aerogel insulation Market.
- Leading market players are planning to enter into strategic partnerships, mergers, acquisitions, and new product launches so as to meet the increasing requirement of homopolymer acrylic filter bags.
- BASF SE made an announcement of its strategic partnership with Aspen Aerogels on 3 April 2019. This partnership has assisted both the companies to launch SLENTEX worldwide which is a new non-combustible high-performance thermal insulation product.
- The global aerogel insulation market is competitive due to the presence of many domestic as well as multinational players.
Leading industry players comprise Svenska Aerogel, BASF, American Aerogel Corporation, Enersens SAS, Cabot Corporation, Aerogel Technologies, Green Earth Aerogel Technologies, Aspen Aerogels, and Active Aerogels.
Global Aerogel Insulation Market: Key Trends
Global aerogel insulation market has been marked with the below-mentioned market trends and opportunities:
A Shift in Consumer Preferences
In the construction industry, there has been a shift in the preferences of consumers who now want green building materials. Extremely low-density solid material and high degree of permeability is expected to boost growth of the market.
Key characteristics of the product such as extremely low-density solid material and high degree of permeability are expected to fuel growth of the global aerogel insulation market. The product is extremely cost effective as well. In addition to that, rising popularity of powder beads amongst contractors and builders for effective conservation of energy is expected to fuel the growth of the industry.
Technological Advancements to Bolster Growth
The electronics industry has been undergoing constant integration of innovation and technological advancements in the electronics industry together with changing trend towards digitalization are expected to better market growth. Aerogel insulation is increasingly used in many of the electronic components like infrared detector, fuel cell, capacitors, soft magnets, Geiger counter, and humidity sensors. Furthermore, growing demand for different semiconductor components as a result of rising focus on Internet of Things (IoT) technology is expected to further boost the market growth.
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Global Aerogel Insulation Market: Geographical Analysis
In global aerogel insulation market, Asia Pacific is forecasted to experience significant growth over the period of forecast. Several infrastructural projects have been receiving increased investments in many of the emerging economies such as UAE, Thailand, Malaysia, India, and Oman. Industrial development and such rapid urbanization in Indonesia, Singapore, and Philippines are anticipated to offer strong positive outlook for the expansion of business of aerogel insulation market.
