Market Definition: Global Arogel Market
Arogel is solid foam, derived by replacing the liquid component of the gel with the gas. It is made out of an interconnected nanostructure coordinate with least half porosity. Besides being strong, it is amazingly permeable and lightweight. Moreover, it comprises of low warm conductivity highlights, which make it a perfect protection material. The aerogel sponge can be recycled after many usage, therefore is shows its eco-friendly nature and cost effectiveness. Arogel has wide application in oil & gas, aerospace, agriculture, power generation and other.
According to article published by Department of Business, in 2016-17 in Scotland, the sales for oil and gas increased by 15.2% from year 2015-16 and is expected to reach to approximately USD 23.0 billion. As per The U.S. Aerospace and Defense (A&D) industry, in 2016, aerospace and defense industry generated USD 872 billion in sales and generated USD 146 billion from export. Thus, the above factors shows that the oil & gas industry and aerospace & defense is growing and will derive the demand of arogel.
Market Analysis: Global Arogel Market
The Global Arogel Market is expected to reach USD 1070.16 million by 2025, from USD 451.2 million in 2017 growing at a CAGR of 11.4% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year is 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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- Growing demand for superior thermal resistance
- Increasing usage of environmental friendly material
- Rising usage in aerospace industry
- Cost of production is high
- Poor mechanical strength
Competitive Landscape: Global Arogel Market
The global arogel market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of arogel market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
In 2017, Aspen Aerogel Inc. launched Pyrogel HPS aerogel insulation technology which provided thermal conductivity and economic performance to service temperature of up to 650°C.
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Key Market Competitors: Global Arogel Market
The key players operating in the global arogel market are –
- BASF SE
- Aerogel Technologies
- Nano High-Tech
- Guangdong Alison Hi-Tech
The other players in the market are Cabot Corporation, Aspen Aerogel Inc., Svenska Aerogel AB, American Aerogel Corporation, Dow Corning Corporation, JIOS Aerogel, Active Aerogels, Enersens, Green Earth Aerogel Technologies, DowDupont, Svenska Aerogel AB, TAASI Corporation, Airglass AB, Acoustiblok UK Ltd., and Active Aerogels, among others.
Segmentation: Global Arogel Market
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Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global arogel market
- Analyze and forecast arogel market on the basis of type, form, processing and application
- Trends of key regional and country-level markets for type, form, processing and application
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis.
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