Monday, 24 February 2014
Aerogel Fabrication Process: Commercialization to Make It Economical
The Global Aerogel Market Report is an exclusive platform for business houses to understand the changing market scenarios. The report can be availed in areas such as North America, Asia-Pacific, Europe, Latin America & Africa, and Middle East. Click here to see the preview
Aerogel displays superior thermal characteristics as compared to its counterparts. Hence, it is also an enhanced insulator. Its superior qualities would make it a $1,896.6 million market by the end of 2020. Europe and North America are expected to generate maximum revenue by 2020, as per the report “Global Aerogel Market (Raw Material Type, Forms, Applications, Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2013- 2020."
Oil & Gas application would grab many eyeballs across the globe. This is due to the exceptional insulation property of aerogel that enables it to be used in pipes.
“Aerogel is the material whichcontains 99 % air is the lightest material of the universe. The material possesses some unique physiochemical characteristics, which opens its usage in a wide range of industrial applications. Being a highly porous material, aerogel exhibits some exceptional thermal resistivity, as a result of which it is extensively used as an insulation solution in building, construction and oil & gas industries. The material is successfully providing sophisticated pipe insulation solution to the oil and gas industry, “states analyst Guru Mallick.
LAMEA region within the segment would reach a whopping mark of $182.5 million by 2020. This can be credited to the wide presence of oil & gas industries in Middle East and Latin America. Asia Pacific would also showcase exceptional growth capabilities during the forecast period and would reach $123.2million by 2020.
“The manufacturers have developed various forms of aerogel, such as blanket, panels, blocks etc according to the application need. The blanket form of aerogel is flexible enough to be wrapped around oil, LNG or crude oil carrying pipes. Moreover, the material would be gather substantial market share in the building insulation solution in future, due to its superior property than the conventional insulation material, such as fiber glass, foam and cellulose. The high production cost is the major factor restraining its market growth; however, the manufacturers are expected to overcome from this by the rapid research and development,” said Mr. Mallick.
Due to its superior properties, aerogel has wide application in the Oil & Gas industry. In fact, Aspen aerogel, the dominant aerogel market segment has its maximum revenues piped through the Oil & Gas industries.