The global aerogel market was valued at USD XX.XX in 2015 and is projected to reach USD 1598.6 million by 2020, at a CAGR of 32.6% during the forecast period from 2015 to 2020. Among all the regions in the world, North America is the largest market for aerogel and accounts for over 60.0% of the market, owing to its special interest towards research, development and innovation, and the usage of new materials in that region.
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Asia-Pacific is the fastest-growing market during the given forecast period due to the technological advancement in this region. Aerogel is a synthetic porous ultra-light material that is derived from a gel, in which the liquid component of the gel has been replaced with a gas.
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The aerogel segment that is the fastest-growing segment in the segmentation of aerogels based on raw materials, and it is growing at a CAGR of 47% during the given forecast period. The silica aerogel segment accounted for the largest revenue generated in 2014.
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By end user industry, the oil & gas segment dominated the global aerogel market with 72.0% of market share in 2014. By form, the blanket segment is the leading segment of the aerogel market and accounted for a share of 82.0% in 2014.
The global aerogel market is segmented on the basis of raw materials into silica, carbon, alumina, and others; also on the basis of form into blankets, particles, blocks, and panels. The market has been segmented on the basis of application into building insulation, acoustic application, day-lighting, fire protection, automotive thermal management, industrial & cryogenics, and others.
And it has also been segmented on the basis of end user industry into oil & gas, construction, automotive, marine, aerospace, and others. On the basis of geography, the market has been segmented into Asia-Pacific (China, India, Japan, South Korea, rest of APAC), North America (United States, Canada, Mexico, rest of North America), Europe (Germany, United Kingdom, Italy, France, rest of Europe), South America (Brazil, Argentina, rest of South America), and Middle-East & Africa (Saudi Arabia, South Africa).
Among all the countries in the world, North America is the largest consumer and producer of aerogel due to its strong technological setup. China is the second largest consumer of aerogel in the world.
Aerogel has been used in space suits by the National Aeronautics and Space Administration (NASA) in the United States. Brazil, Japan, Germany, and the United Kingdom are among the few other countries, which have been using aerogels in large amounts, thereby, driving the growth of this market.
Growth is largely fuelled by the increasing demand from developing countries in Asia-Pacific and Europe due to their increasing research in innovation of materials and new application areas. Aerogel is very easy to install as an insulator and is lighter, thinner, and more durable than conventional insulators, which adds to the growth of this market.
Furthermore, aerogel is reusable and recyclable, which adds to the benefits of using aerogel.
However, the higher costs of production serve as a major restraint for the growth of the global aerogel market, since it becomes very difficult to buy the end product for the customers, who ultimately have to take the whole burden. Adverse economic conditions in a particular industry also affect the market, as this factor decreases the overall sales of aerogel in the market.
Volatility in the raw materials also hinders the growth of the studied market.
The key players in global aerogel market are:
Acoustiblok UK Ltd
Dow Chemical Corporation
Green Earth Aerogel Technologies
SVENSKA Aerogel AB
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Key Deliverables in the Study:
Analysis for the global aerogel market, with region specific assessments and competition analysis on global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global aerogel market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Key questions answered in the report
· What will the market size and the growth rate be in 2022?
· What are the key factors driving this report?
· What are the key market trends impacting the growth of this report?
· What are the challenges to market growth?
· Who are the key vendors in this market space?
· What are the market opportunities and threats faced by the vendors in this report?
· Trending factors influencing the market shares of the Americas, APAC, and EMEA?
· What are the key outcomes of the five forces analysis of this report?
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