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Market Summary:

The global aerogel market size is expected to reach USD 3.31 billion by 2027 from USD 773.07 Million in 2019, delivering a CAGR of 11.7% through the forecast period. The market research report offers a comprehensive overview of the industry and its key segments. The industry is expected to expand at an exponential growth rate of 19.8%. It is a porous and ultra-light material derived from a gel, formed when the liquid component in the process is replaced by gas.

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It is a porous yet solid material comprising of mesh nanostructure, which offers remarkable properties such as low density, thermal conductivity, high surface area, and moisture resistance. Owing to these properties, it finds usage in numerous applications. It is an alternative to several thermal insulation materials and has a competitive edge based on prices, which contributes to market growth. The strong thermal resistance and the eco-friendly property is driving the growth of the sector.

A rise in the demand from end-user industries such as oil and gas, aerospace, building and construction, automotive, and performance coatings have propelled the growth of the global industry. Other significant drivers of industry growth include a rise in the commercialization of thermal and acoustic materials, increasing concern for energy conservation, and soaring demand for lightweight insulation materials. However, higher production and manufacturing costs, stringent policies, the economic scenario of the industry, and uncertainty in the prices of raw materials can hamper the growth of the industry. Additionally, the low mechanical strength of the product acts as a key restraining factor of the industry growth.

Type Outlook:

Based on the aerogel type, silica aerogel type is projected to dominate the industry during the forecast period attributable to high demand from end-users. Its low manufacturing cost and easy availability are also key driving factors for the silica aerogel market. Silica is the most commonly used aerogel product type and finds its usage for insulations across various industries like oil & gas, building and construction, and automotive.

Form Outlook:

Based on form, the blanket was the largest form segment and finds extensive use in the end-use industry. One of the major applications of the blanket is its usage as an insulation material for the subsea pipelines in the oil and gas industry. Blankets enhance the energy efficiency, thereby reducing carbon emissions.

Application Outlook:

Based on the application, the products are high in demand in the oil and gas industry. This can be credited to the relative thinness, superior thermal resistance, and lightweight quality of materials. These properties create a lucrative potential for the materials in the oil & gas industry. Moreover, its low density and low thermal conductivity have boosted its demand in the construction and insulation industries.

Regional Outlook:

North America is the largest market for the aerogel products in the overall global sector owing to its increasing awareness towards the reduction of carbon emissions and soaring demands of the oil and gas industry. North America is expected to lead the global market in the forecast timeline. The Asia Pacific follows a close second due to the high consumption of aerogel materials in China. Europe is expected to expand on a fast rate owing to ongoing extensive research to develop and explore new applications of the products.

Market-O-Nomics:

The global aerogel market size is expected to reach USD 3.31 billion by 2027 from USD 773.07 Million in 2019, delivering a CAGR of 11.7% through the forecast period.

The report also studies other branches and new niches of the industry, such as graphene aerogel market, carbon aerogel market.

The study also examines key elements, including aerogel insulation, analysis, polyurethane aerogel, aerogel liquid, hydrophobic silica aerogel, tio2 aerogel, organic aerogel, aerogel cellulose, and high temperature aerogel.

Based on form, the blanket was the largest form segment and finds extensive use in the end-use industry.

The blanket is the leading product segment by the form in the global sector and is expected to expand at a high CAGR throughout the forecast timeline. The panel segment is expected to show significant growth owing to the increasing demand for the product in the automotive industry.

Based on the application, the products are high in demand in the oil and gas industry. This can be credited to the relative thinness, superior thermal resistance, and lightweight quality of materials.

Based on the type, silica aerogel type is projected to dominate the business during the forecast period attributable to high demand from end-users. Its low manufacturing cost and easy availability are also key driving factors for the silica aerogel market.

The rise in the demand for insulation materials like aerogel in the oil and gas industry is fueling the growth of the global industry. Moreover, increasing demand for the products in aerospace, marine, building and construction, automotive, and performance coatings are key market drivers for the global industry.

North America is the largest region in the overall global sector owing to its increasing awareness towards the reduction of carbon emissions and soaring demands of the oil and gas industry.

North America is the leading region, followed closely by Asia-Pacific. Europe is the third-largest shareholder in the industry. Latin America and Middle East & Africa are expected to show moderate to significant growth.

Competitive Landscape:

Prominent players profiled in the report include Aspen Arogel Inc., Aerogel Technologies LLC, Cabot Corporation, American Aerogel Corporation, Nano High Tech, Svenska Aerogel AB, BASF SE, Dow Corning Corporation, Airglass AB, JIOS Aerogel, and Enersens, among others. The global industry comprises of cut-throat competition, and the key players have a strong R&D approach, excellent intellectual properties, strong product portfolio, and a strong footing in the industry. This provides a competitive edge to them over other players and creates a highly competitive atmosphere.

Start-up Traction:

The industry offers lucrative business opportunities to the key manufacturers operating in the industry. Many start-up operations and small businesses are emerging in the market with advancements in technology and innovation.

Deal Landscape:

Strategic alliances are a vital part of the industry. Along with established companies, several other market players are entering the business with new products and technologies. Additionally, the report provides an insight into business expansions, new product launches partnerships and agreements, collaborations, joint ventures, and government deals and agreements.

Expert Insights:

The report also studies other branches and new niches of the industry, such as graphene aerogel market, carbon aerogel market. The study also examines key elements, including aerogel insulation, analysis, polyurethane aerogel, aerogel liquid, hydrophobic silica aerogel, tio2 aerogel, organic aerogel, aerogel cellulose, and high temperature aerogel.

Reports and Data forecast promising developments in the adoption of aerogel materials in several industries. According to the experts from the industry, the application of aerogel products in the oil and gas industry along with significant applications in automotive, aerospace, construction, transportation, and others is garnering traction in the industry. Additionally, emerging new players and advancements in technology and innovations are expected to fulfill the needs and demands of the products.

Segments Covered in the Report:

The report offers forecast estimation of the revenue generation on a global, regional, and countrywide level for the forecast period of 2017-2020. Moreover, it offers an analysis of the current and emerging trends in each segment and sub-segment of the market in each region during the forecast period.

For a detailed understanding, the report is further segmented based on product type, form, application, and region.

Product Type Outlook (Revenue, USD Million; Volume in Kilo Ton 2017–2027)

Silica

Polymer

Carbon

Form Outlook (Revenue, USD Million; Volume in Kilo Ton 2017–2027)

Blanket

Panel

Particle

Monolith

Others

Application Outlook (Revenue, USD Million; Volume in Kilo Ton 2017–2027)

Oil & Gas

Construction

Transportation

Performance Coating

Day-Lighting & LVHS

Regional Outlook (Revenue, USD Million; Volume in Kilo Ton 2017–2027)

North America Canada U.S

Europe Germany Italy U.K France Rest of Europe

Asia Pacific China India Japan South Korea Rest of APAC

Latin America Brazil Argentina Rest of LATAM

Middle East & Africa Saudi Arabia U.A.E South Africa Rest of MEA

