Global Silica Aerogel Market: Market Driver and Restraint
Applications of Silica Aerogel are anticipated to create new business segments in the market. Silica Aerogel is in use for a broad range of Building Insulation products such as building exterior insulation, oil and gas pipeline insulation & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. Silica Aerogel application is developed towards a more active mode.
Manufacturers are exploring the potential of Silica Aerogel in Oil & Gas Consumables. Application of Silica Aerogel in aerospace material are gaining traction in the recent years. Recently, manufacturers have started using Silica Aerogel in the Transportation area. Further, there are also potential uses in the areas of aerogel in personal care application.
Global Silica Aerogel Market: Key Takeaways
· On the one hand, Silica Aerogel manufacturers are dedicated to lowering their manufacturing cost; on the other hand, they try to provide more qualified products to customers.
· Besides, they are trying to broaden the applications of Silica Aerogel such as building exterior insulation.
· As major suppliers are seeking acquisition to expand global presence, the market concentration is estimated to increase in the coming 5 years.
Global Silica Aerogel Market: Forecast by Type
This segment includes Blanket, Particle, etc. In terms of volume, Blanket segment is expected to remain dominant in the global Silica Aerogel market.
Global Silica Aerogel Market: Forecast by Region
North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are the seven regions that are included in this report. North America is the dominant market in the global Silica Aerogel market in terms of value. The North America Silica Aerogel market was estimated to be valued at US$ 118.9 Mn in 2017 and is expected to expand at a value CAGR of 22.3% over the forecast period. The Europe market is expected to expand at a robust rate of 20.0% in terms of revenue over the forecast period due to the steadily increasing production capacity for building exterior insulation products in this region.
Global Silica Aerogel Market: Key Players
Aspen Aerogels, Cabot Corporation, Aerogel Technologies, Nano High-Tech, Guangdong Alison Hi-Tech, Active Aerogels, Enersens, Jios Aerogel Corporation, Insulgel High-Tech, Guizhou Aerospace, Green Earth Aerogel Technologies (GEAT), etc. are the key vendors included in this report.
The market concentration of Silica Aerogel is medium. The supply and demand relationship in the industry has been stable and modest. Of the 2017 global market, the top 5 companies, account for more than 40.00% of sales. Aspen Aerogels Chemical is by far the leader, followed by Cabot Corporation and Aerogel Technologies. Key Vendors like Nano High-Tech, Guangdong Alison Hi-Tech, and Active Aerogels, also play important part in regional market, so the market share in each region is quite different.
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