London, 20 February 2015 – TechNavio has published a new report on the Global Aerogel Market, which is expected to grow at a CAGR of 27.99 percent from 2014-2019.
According to the latest report by TechNavio, aerogel has huge scope for growth in various sectors, industries and applications, including use as a shock absorber in safety and protective devices, as insulation in technical textiles for use in extreme weather conditions and as fire extinguishers. Use of aerogel in cold packaging technology is also being studied by various market players, with many new patents on the horizon.
“The high number of patents being filed for new uses of aerogel and the development of new aerogel-based products will contribute to market growth in the coming years,” says Faisal Ghaus, Vice President of TechNavio.
The TechNavio report also emphasizes growing investments in research and development as vendors are keen to commercialize aerogel, and develop products with special properties.
“Aerogel is expected to have a significant impact on sustainable and green development with governments of many countries supporting the aerogel industry through grants and subsidies.”
Furthermore, aerogel is replacing fiberglass as an alternative to traditional insulation material, which is expected to fuel market growth over the forecast period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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