DALLAS, July 2, 2012 /PRNewswire/ --
According to a new market research report, "Aerogel Market by Form and Application (Building Insulation, Oil & Gas, Aerospace, Automotive, Industrial & Cryogenic) - Global Trends and Forecasts up till 2017", published by MarketsandMarkets (http://www.marketsandmarkets.com), Aerogel market will grow from estimated $115.7 million in 2011. This value is expected to increase from $174.6 million in 2012 to $1,379.6 million by 2017 with 52% CAGR during the same period. North America is expected to lead the global aerogel production market with share of 57% followed by Europe (42%) and Asia (1%) in terms of production by the year 2011.
Browse more than 90 market data tables with 22 figures spread through 161 pages and in-depth TOC on "Aerogel Market by Form and Application (Building Insulation, Oil & Gas, Aerospace, Automotive, Industrial & Cryogenic) - Global Trends and Forecasts up till 2017".
Early buyers will receive 10% customization of report.
The major drivers for aerogel global market growth are energy efficiency awareness, exclusive thermal performance of aerogel as an insulating material, environmental friendly life cycle of any aerogel form. The complicated and patented manufacturing process results in high cost of production reflecting high market price. This can be seen as a restraint for aerogel market.
North America holds major market share in aerogel market and Europe is the second largest manufacturer. R&D initiatives by American companies and government have helped its manufacturers to get the first mover advantage.
North America market share is 57% in the global aerogel production, Europe has 42% of share and Asian companies are still in the first stage and account for only 1% of the total production.
In North America U.S. is the largest manufacturer and market is lead by Aspen Aerogel, American Aerogel and Cabot Corp. However in Europe, Germany dominates the market and Cabot is the largest manufacturer of aerogel in Europe. Small Chinese players and one prominent Malaysian company called MaeroTech leads the Asian markets.
The aerogel market is segmented in three geographies namely North America, Europe and Asia. The aerogel market by application is segmented in major five applications as building insulation, oil and gas, aerospace, automotive, industry and cryogenics.
The report also touches on various other important aspects of the market. It includes an analysis of the value chain, a Porter's five forces analysis, the competitive landscape, a raw material analysis, patent analysis, as well as the production process. It also includes an analysis of the production cost. In addition, 11 key players of this market have also been profiled.
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