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Global Aerogel Insulation Market to Witness a Steady Growth During 2021-2026, Aided by the Growing Aerogel Industry

According to a new report by EMR titled, 'Global Aerogel Insulation Market Report and Forecast 2021-2026', the global market for aerogel insulation is being supported by the global aerogel market, which stood at a value of around USD 645 million in 2020. The market is further expected to grow at a CAGR of 10% in the forecast period of 2021-2026.

Aerogel insulation is a high-performance insulation material that can be used in both cold and hot service applications. Over the projected timeframe, rapid technical breakthroughs in architectural, automobile, and performance coatings are expected to accelerate the development of the aerogel insulation industry. Aerogel is also becoming more common as insulators due to its beneficial thermal insulating properties. The market for aerogel insulation is driven by various end use sectors, out of which the electronics industry is one of the biggest consumers. Furthermore, the market is expected to rise in the forecast period as well.

The global aerogel insulation industry is also being aided by the growing innovations by the key global market players, such as Aspen Aerogels (NYSE: ASPN) and Cabot Corporation (NYSE: CBT). In April 2019, BASF SE announced a strategic alliance with Aspen Aerogels. This collaboration has aided both companies with the global launch of SLENTEX, a new non-combustible high-performance thermal insulation device. The government bodies such as the EU approves the manufacture of aerogels under laws like EU REACH under which many key European players such as Cabot Corporation functions and manufactures aerogels for effective use.

Market Analysis by Type, Form, End Use, and Region:

  • The market is divided in terms of type into silica, polymer, and carbon, among others.
  • The market is segmented by form into blanket, panel, particle, and block, among others.
  • In terms of end use, the market is segmented into oil and gas, building and construction, automotive, aerospace and marine, and performance coatings, among others.
  • The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The aerogel insulation industry is expected to be fuelled by the changing consumer preferences toward renewable building products, which have the potential to reduce carbon footprints. 
  • Furthermore, the market growth is expected to be aided by the growing developments in the electronics industry, as well as a change in the trend toward digital technologies. 
  • The growing product use in different end-use industries such as automotive, oil and gas, aerospace, building and manufacturing, premium coatings, and the maritime industry is expected to boost the market growth in the forecast period.
  • The growing R&D activities by key market players are expected to drive the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for aerogel insulation for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, forms, end uses, and major regions of aerogel insulation. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

BASF SE, Aerogel Technologies, LLC, Aspen Aerogels, Inc., and Cabot Corporation, among others are the key players in the global aerogel insulation market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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