PRN: MarketsandMarkets: Global Aerogel Market Worth $1,379.6 Million by 2017
MarketsandMarkets: Global Aerogel Market Worth $1,379.6 Million by 2017
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)Â -Â 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 onÂ "Aerogel Market by Form and Application (Building Insulation, Oil & Gas, Aerospace, Automotive, Industrial &Â Cryogenic)Â Â - GlobalÂ Trends and Forecasts up till 2017".
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.
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.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.