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MarketResearch.biz announces publication of its most recently generated research report titled, “Global Aerogel Market By Application (Oil & gas, Construction, Automotive and aerospace, healthcare, Performance coatings, Chemicals, Electronics, and Others), By Form,Type, By Processing Type, and Region - Global Forecast To 2033.”, which offers a holistic view of the global aerogel market through systematic segmentation that covers every aspect of the target market. The global aerogel market was valued at US$ 2676.7 Mn in 2022 and is projected to reach US$ 55803.5 Mn in 2033 at a CAGR of 31.8% from 2023 to 2033.
Aerogel also known as “Frozen smoke” is a synthetic substance obtained by replacing liquid component with gas in the gel. Aerogel is created by replacing the gel’s liquid content with air or a type of gas. Aerogel is approximately 99.8% air by volume, has extremely low density, high thermal resistance, and impact damping properties. Aerogel can be recycled and reused, hence increasing its applications in various sectors and industries.
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Global Aerogel Market: Market Dynamics
Aerogel material is an ideal replacement for thermal insulation materials, is cheaper as compared to other insulation materials, and is easily available, which is driving demand for this material in various end users applications and industries. Increasing globalization and urbanization is resulting in new investments in infrastructural development in both developed and developing countries, which is another key factor driving growth of the global aerogel market. Increasing demand for aerogel silica owing to its light diffusion, thermal insulation and high surface area in architectural applications drives growth of the global aerogel market. Moreover, advancement and innovations in materials, rising awareness of product benefits, and adoption of aerogel in newer applications is expected to boost growth of the global aerogel market over the forecast period.
A major and growing trend in the market is rising awareness regarding global warming and increasing need for more eco-friendly and efficient insulation materials and panels for application in the construction sector, especially in developing countries. In addition, aerogel is used as a thickening agent and chemical absorber for cleaning chemical spills. Newer applications, robust innovation and technological advancements in developing countries, development of more durable aerogels with higher strength, and rising demand in the transportation industry is expected to create high potential revenue opportunities for players in the global aerogel market.
According to aerogel market infographics published on MarketResearch.Biz, market size at US$ 3527.8 Mn in 2033.
Global Aerogel Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global aerogel market based on factors affecting the market and their impact in the foreseeable future. According to forecast projections, revenue from the global aerogel market is expected to expand at a moderate CAGR of 31.8% during the forecast period.
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Global Aerogel Market: Segmental Snapshot
The market report has been segmented on the basis of application, type, and region. The application segments include oil & gas, construction, automotive and aerospace, healthcare, performance coatings, chemicals, electronics, and others. Type segments include silica, carbon, alumina, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, and Latin America, and Middle East & Africa.
By application: Construction segment is estimated to register a CAGR of over 33.7%, thereby accounting for highest revenue share among the application segments.
By form: Blanket segment is estimated to register a CAGR of 32.3%, thereby accounting for highest revenue share among the form segments
By type: Carbon segment is estimated to register a CAGR of over 32.8%, thereby accounting for highest revenue share among the type segments.
By processing: : Fabricated processing segment is estimated to register a CAGR of over 32.4%, thereby accounting for highest revenue share among the processing segments.
By region: The market in Europe accounted the highest revenue share in the global aerogel market in 2016, and is expected to reach at a CAGR of over 32.7 between 2017 and 2022.
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Global Aerogel Market: Competitive Analysis
The research report on the global aerogel market includes detailed competitive analysis on major companies such as Aspen Aerogel, Inc., Cabot Corporation, Dow Corning Corporation, Armacell, BASF SE, Svenska Aerogel AB, Acoustiblok UK Ltd., Active Space technologies, and American Aerogel Corporation.
The Global Aerogel Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2023–2033 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global aerogel market.
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