The global aerogel market was valued at US$ 673.0 million in 2017 and is expected to register a CAGR of over 30%. The global aerogel market was valued at US$ 512.9 Mn in 2016 and is projected to reach US$ 8083.7 Mn in 2026 at a CAGR of 31.8% from 2017 to 2026.
The global aerogel market is segmented on the basis of product type, form, end-use industry, and region.
On the basis of application, the market is segmented based on oil and gas, construction, automotive and aerospace, healthcare, chemicals, electronics, and others. Oil and gas segment witnessed moderate CAGR of over 30%.
On the basis of form, the market is segmented based on blanket, panels, particles, and block. The blanket segment contributes major market share, and is expected to register CAGR of over 31%.
On the basis of processing, the market is segmented based on virgin processing, and fabrication processing. The virgin processing segment contributes major market share, and the fabricated segment is expected to register CAGR of over 32%.
The silica segment is expected to contribute major revenue share and the carbon segment is expected to register highest CAGR of over 32%.
Aerogel is a synthetic substance obtained by replacing liquid component with gas in the gel. Aerogel has extremely low density, high thermal resistance, and impact damping properties. Commonly used aerogel type are silicon and carbon. Aerogel can be recycled and reused hence increasing its application in various sectors and industries.
A major factor driving growth of the global aerogel market is increasing demand from oil and gas industry. In addition, owing to properties such as high insulation, lightweight, and low density, aerogels are being adopted in various end-user industries such as marine, aerospace, and transportation. Increasing globalization and urbanization has led to new investments in infrastructure development where aerogels panels and insulations are used. Furthermore, major players are focusing of development of eco-friendly aerogels, which is expected to further fuel growth of the global aerogel market. Moreover, poor insulation results in wastage of thermal energy every year. Hence, the need for better energy conservation and energy efficient solutions is expected to continue to boost demand and drive growth of the global aerogel market.
High production cost is a major factor hampering growth of the global aerogel market. The aerogel industry is exposed to cross-boundary economic conditions and owing to which the dependent markets are facing sales side pressure in such economic conditions. However, new technologically advanced products and R&D activities by major players will present new opportunities for growth of the global aerogel market.
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North America dominates the global aerogel market and accounts for significant revenue share. The market in Europe is expected to witness highest growth and account for a CAGR of XX% during the forecast period. This growth is attributed to rising demand from construction and oil & gas industries and stringent regulation for environment protection. Asia Pacific market is expected to witness significant growth in terms of revenue generation, especially from China as it is the second largest consumer of aerogel.
Key players in the global aerogel market are BASF, American Aerogel Corporation, Dow Corning, Cabot Corporation, Svenska Aerogel AB, JIOS AEROGEL, Airglass AB, Aspen Aerogels Inc., Active Space Technologies, and Acoustiblok UK Ltd.
Table Of Content:
1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By End User
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Form
- 2.2.4 Market Snapshot, By Type
- 2.2.5 Market Snapshot, By Processing
- 2.2.6 Market Snapshot, By Region
3.0 Chapter 3
- 3.1 Global Aerogel Market Dynamics
- 3.1.1 Drivers
- 3.1.2 Restraints
- 3.1.3 Opportunities
- 3.1.4 Trends
- 3.1.5 PEST Analysis
- 3.1.6 Porter’s Five Forces Analysis
4.0 Chapter 4
- 4.0.1 Global Aerogel Market Segment Analysis, by Application
- 4.0.2 Overview
- 4.0.3 Segment Trends
- 4.0.4 Market Share and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Million)
- 4.1 Oil & Gas
- 4.1.1 Overview
- 4.1.2 Market Share and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Million)
- 4.2 Construction
- 4.2.1 Overview
- 4.2.2 Market Share and Forecast, and Y-o-Y Growth, 2016–2026, (US$ Million)