Press Release
Press Release
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.
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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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