Aerogel Market by Type (Silica, Polymer, Carbon), Form (Blanket, Panel, Particle, and Monolith), Processing (As Manufactured, Composites), Application (Energy Industrial, Transportation, Architecture & Construction), and Region - Global Forecast to 2029
In terms of value, the aerogel market is estimated to grow from USD 0.9 billion in 2024 to USD 1.6 billion by 2029, at a CAGR of 12.8%. The rising applications of aerogel in transportation, petrochemical, power generation, distinct energy and oil & gas industry are driving the aerogel market. Also, as levated manufacturing costs and low mechanical strength, there is an escalating desire for sustainable and high strength aerogel alternatives.
Scope of the Report
Years Considered for the Study
2017-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Volume (Ton) and Value (USD Thousand)
Segments
Type, Form, Processing, Application, and Region
Regions covered
Asia Pacific, North America, Europe, Middle East & Africa, and South America
"Carbon is projected to be the second-fastest growing type of aerogel market, in terms of value, during forecast period."
Carbon is on projected to be the second-fastest growing segment type of the aerogel market, displaying the second-highest CAGR among all the aerogel types. This is because of their special characteristics and increasing uses. Carbon aerogels possess characteristics like high electrical conductivity, large surface area and thermal stability therefore, they are very suitable for manufacture of energy storage devices including super capacitors and batteries. They also use in supports for catalysts because of their porosity that improves efficiency of the chemical reactions.
"The additives segment is the accounted for the third largest share by processing, in terms of value, during the forecast period in the aerogel market."
The additive processing segment accounted for the third largest share in aerogel market. These additives may range from polymers, nanoparticles, and reinforcing fibers that may be incorporated in the production process of aerogels. They have an intended function to provide enhancement of physical or mechanical characteristics, including increased strength, flexibility, heat or sound resistance, as well as fire resistance or being antibacterial. With industries turning to custom and specialty aerogels when there are certain application demands that have to be met, aerogels with additives are getting popular. This trend contributes to the\Application of additives as a major processing type in the application of aerogel.
"The Europe is projected to be the second fastest-growing region, in terms of value, during the forecast period in the aerogel market."
The Europe region is expected to see significant growth in the aerogel market due to several factors such as energy efficiency norms and policies regarding sustainability. Construction industry in the region is gradually integrating aerogels into their structures due to its high thermal conductivity and hence the need to conform to the code. Also, aerospace and automotive industries within Europe are using aerogels due to their light weight and thermal properties that improve on efficiency and performance. Continued research and development initiatives also continue to enhance the development of new forms of aerogel for various uses such as in the electronics, healthcare, and environmental industries. Altogether these factors put Europe in a strategic place in terms of aerogel consumption in the future years.
By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
By Region: - North America - 40%, Europe - 17%, Asia Pacific - 24%, South America - 7%, Middle East & Africa - 12%,
The key players profiled in the report include Aspen Aerogels, Inc. (US), Cabot Corporation (US), Armacell International S.A. (Luxembourg), Nano Tech Co., Ltd. (China), Zhejiang UGOO Technology Co., Ltd. (China), Guangdong Alison Technology Co., Ltd. (China), Beerenberg AS (Norway), Aerogel Technologies, LLC (US), Enersens (France), IBIH Advanced Materials Co., Ltd. (China), aerogel-it GmbH (Germany), and among others.
Research Coverage
This report segments the market for aerogel based on type, form, processing, application, and region and provides estimations of volume (Ton) and value (USD Thousand) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies, associated with the market for aerogels.
Reasons to Buy this Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the aerogel market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on aerogel offered by top players in the global market
Analysis of key drivers: (Improved quality of aerogels, new energy efficiency regulations, and mounting technological advancements and innovations), restraints (Elevated manufacturing costs and low mechanical strength), opportunities (increasing new applications in apparel and day-lighting, rising demand from aviation, and mountind demand for sustainable solutions), and challenges (competitive alternatives) influencing the growth of aerogel market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aerogel market
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for aerogel across regions.
Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global aerogel market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aerogel market
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 AEROGEL MARKET: INCLUSIONS & EXCLUSIONS
1.2.2 AEROGEL MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY TYPE
1.2.3 AEROGEL MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY FORM
1.2.4 AEROGEL MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY PROCESSING
1.2.5 AEROGEL MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY APPLICATION
1.3 MARKET SCOPE
1.3.1 REGIONS COVERED
1.3.2 YEARS CONSIDERED
1.3.3 CURRENCY CONSIDERED
1.3.4 UNITS CONSIDERED
1.4 STAKEHOLDERS
1.5 SUMMARY OF CHANGES
1.5.1 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews - demand and supply sides
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 GROWTH FORECASTS
2.4.1 SUPPLY SIDE
2.4.2 DEMAND SIDE
2.5 IMPACT OF RECESSION
2.6 ASSUMPTIONS
2.7 LIMITATIONS
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AEROGEL MARKET
4.2 NORTH AMERICA AEROGEL MARKET, BY APPLICATION AND COUNTRY
4.3 AEROGEL MARKET, BY REGION
4.4 AEROGEL MARKET, BY APPLICATION AND REGION, 2023
4.5 AEROGEL MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Superior thermal resistance
5.2.1.2 Stringent energy efficiency regulations
5.2.1.3 Rising technological advancements and innovations
5.2.2 RESTRAINTS
5.2.2.1 High manufacturing costs
5.2.2.2 Poor mechanical strength
5.2.3 OPPORTUNITIES
5.2.3.1 New applications in apparel market
5.2.3.2 Growing applications in day-lighting segment
5.2.3.3 Growing demand from aviation industry
5.2.3.4 Increasing demand for sustainable solutions
5.2.4 CHALLENGES
5.2.4.1 Cost competitive alternatives
5.3 PORTER'S FIVE FORCES ANALYSIS
5.3.1 THREAT OF SUBSTITUTES
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 BARGAINING POWER OF SUPPLIERS
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 MACROECONOMIC INDICATORS
5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
6 INDUSTRY TRENDS
6.1 KEY STAKEHOLDERS AND BUYING CRITERIA
6.1.1 KEY STAKEHOLDERS IN BUYING PROCESS
6.1.2 BUYING CRITERIA
6.2 SUPPLY CHAIN ANALYSIS
6.2.1 RAW MATERIAL SUPPLIER
6.2.2 MANUFACTURER
6.2.3 DISTRIBUTION NETWORK
6.2.4 END-USE INDUSTRY
6.3 ECOSYSTEM ANALYSIS
6.4 CASE STUDIES
6.4.1 RETROFIT OF ROOFING SYSTEM - DEDMON ATHLETIC CENTER, RADFORD UNIVERSITY
6.4.2 ENHANCING STEAM NETWORK EFFICIENCY AT DUKE UNIVERSITY
6.4.3 ENHANCING LNG FACILITY PERFORMANCE WITH CRYOGEL Z
6.5 REGULATORY LANDSCAPE
6.5.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, Deals, Expansions, Other developments, MnM view, Right to Win, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.