The entry of new Chinese companies in the global
aerogels market has increased the competition level for the existing
players, reports Transparency Market Research in a new study. The
aerogels market has a moderate degree of competitive rivalry due to
the existence of few key companies with a strong global potential.
The leading companies in the global aerogels market are Aspen
Aerogels, Inc., Cabot Corporation, Aerogel Technologies, LLC, and
Surnamo Aerogel Co.Ltd., with nearly 77% of the global market in
2014.
This 184 page report gives readers a comprehensive
overview of the Aerogels market.Browse Market Research Report @
The players operating in the global aerogels market
are also involved in the production of raw materials used in the
manufacturing of aerogels. Thus, companies involved in integrated
manufacturing have diverse advantages in terms of product quality and
cost. Leading players in the global aerogels market are backward
integrated as it strengthens their position in the market. The
present level of consolidation is expected to decline due to the
widening scope of aerogel applications in various end-user
industries.
Increasing Demand for Thermal Insulation Materials
from Oil and Gas Industry to Boost Sales of Aerogels
According to TMR analysts, oil and gas and
petrochemical industries are the main end-users of aerogels, which
are used in a variety of equipment. As compared to conventional
materials such as mineral wool and fiberglass, aerogels offer high
thermal insulation. As a result, they are in demand by various
end-use industries, oil and gas sector being the largest of all.
Growing shale gas exploration in the U.S., Ukraine,
Poland, and the U.K. is likely to increase the sales of aerogels in
the coming years. Moreover, the commercialization of aerogels in
developing regions is anticipated to augment the sales of aerogels.
Thus, the increase in demand for aerogels from oil and gas industry
is estimated to lift sales globally.
Demand for Aerogels Products to Face Hindrance
Owing to their High Cost
The cost of production of aerogels is substantially
high due to the high cost raw materials used in their manufacturing.
The high maintenance cost of aerogels makes them an expensive end
product for consumers. The formulation of aerogels requires high-cost
additives and energy sources which in turn increase production costs.
Manufacturers are consequently forced to fix high prices for their
aerogels products, leading to a decrease in demand.
Furthermore, the high price of aerogels and slow
commercialization rate in developing regions such as Asia Pacific,
Latin America, and the Middle East and Africa is likely to impede the
sales of aerogels globally.
Demand for Lightweight Materials from Automotive
and Aircraft Industries to Provide Lucrative Opportunities to Aerogel
Manufacturers
The demand for lightweight yet luxurious vehicles is
rising rapidly among consumers. Similarly, the need for improved
power backup and intensified acceleration in automobiles and
aircrafts has impelled manufacturers to use high-power mechanisms.
This tends to put pressure on the engine and other machines leading
to a rise in temperature in the vehicles. Due to their light weight
and low heat conducive property, aerogels are being considered as a
potential cooling source in these industries. The rising demand from
these two industries is likely to provide manufacturers of aerogels
with growth opportunities.
Get accurate market forecast and analysis on the
Aerogels market. Request a sample to stay abreast on the key trends
impacting this market@
Thus, the global aerogels market is estimated to rise
at a CAGR of 18.7% between 2015 and 2023. The market was valued at
US$353.6 mn in 2015 and is expected to reach a valuation of
US$1,093.2 mn by the end of 2023. North America is projected to
maintain a lead in the global aerogels market with an overall share
of 55.6% in 2023 in terms of volume. In the products segment, silica
aerogel is likely to dominate the market with 63.2% of the global
volume share by the end of the forecast period.
The review is based on the findings of a TMR report
titled, “Aerogels Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2023.”
Key Takeaways:
- Oil and gas industry to be the leading end-user segment with 64.4% of the global market by 2023
- Aircraft and automotive industries to create unprecedented growth opportunities for aerogels manufacturers
- Global aerogels market to expand at 18.7% CAGR between 2015 and 2023 owing to increasing demand from end users.
Key segments of the global aerogels market are:
Global Aerogels Market, by Products
- Silica Aerogels
- Metal Oxide Aerogels
- Carbon Aerogels
- Other Aerogels
Global Aerogels Market, by End-users
- Construction
- Oil & Gas
- Transportation
- Electronics
- Others
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment