Aerogel Market Share

On the basis of regional analysis, the global aerogel market is segmented into five major zones including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America is expected to witness noteworthy growth over the forecast period on the back of rising demand for aerogels from aerospace, marine and automotive industries. Technological advancements, extensive usage and growing emphasis on using eco-friendly substitutes also play a crucial role in the progress of the market in this region. Europe holds the position of second-largest shareholder accredited to the rising usage of aerogels in construction industry in the region. On the other hand, Asia Pacific is expected to be the most profitable market in the forecast period owing to the presence of increased production and usage of aerogels in many countries, especially in China and Japan. The market in the Middle East is also assessed to show a modest growth resulting from the presence of strong ongoing oil and gas related industrial activities in gulf nations. It was reported in 2018 that more than one fourth of the World’s total oil was produced in the Middle Eastern countries.