The BCC Research report provides an updated review of the important advances in aerogel technology and fabrication processes, and supplies a detailed overview of the current market and an analysis of prospects for future growth. Forecast provided through 2020.
The report was intended to: gain insight into aerogel technology, including materials and fabrication processes, and identify current and emerging applications for aerogels; assess global market data for aerogel and aerogel-based products by different market segments, materials, properties, applications and region; evaluate global market trends for aerogel-based products, and their latest technological developments; identify US patents with a summary of patents related to aerogel materials, formulations, fabrication processes and applications.
The report found that the global market for aerogel-based products reached US$186.8 million in 2014 and US$213.6 million in 2015. The market should reach US$612.4 million in 2020, demonstrating a compound annual growth rate (CAGR) of 23.4% from 2015 - 2020. The thermal and acoustic insulation sector reached US$178.4 million in 2015. The market should reach US$504.5 million in 2020 at a CAGR of 23.1% from 2015 - 2020. The life science and personal care sector reached US$20 million in 2015 and should reach US$32.7 million in 2020, growing at a CAGR of 10.3% from 2015 - 2020.
Aerogels are ultra light materials with a nanoporous structure. Although the first aerogel was produced in the early 1900s and commercialisation started in the 1940s, the aerogel market started to take off during the 1980s, with the introduction of processes and products that decreased the hazards and costs related to aerogel manufacturing.
Today, aerogels are produced in various shapes (powders, microspheres, granules, beads, monoliths, sheets, blankets, rolls and coatings) to satisfy the requirements of different industrial sectors, such as thermal and acoustic insulation, electronics, chemical and environmental, medical, biological, pharmaceutical and personal care, among others.
BCC Research has tracked the aerogel market since 2004, reporting on all the latest developments. During this period the market has expanded by over a factor of ten, as aerogel products have become more favourably priced, material properties are improved to better meet the requirements of practical applications, and new market opportunities are created for these products.
At the time of BCC Research's last report (early 2013), the global market for aerogels was valued at US$137.5 million for all of 2012 and growing at a healthy rate. Since then, sales of aerogels have increased to reach between 3% and 4% of the global market for nanoporous materials, which are estimated to be valued at over US$6 billion in 2015, and they currently represent the fastest growing segment within this market.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/refining/10032016/bcc-research-release-aerogels-report-2015-2020-2733/