Aerogel Market Overview:
Aerogel Market is expected to garner $1,926.6 million by 2021. Aerogel is a mesoporous solid foam, derived by replacement of the liquid component of the gel with a gas and is composed of an interconnected nanostructure network with minimum 50% porosity. Though solid, its extremely porous, lightweight and low thermal conductivity features make it an ideal insulation material. Aerogel sponge, can be recycled after use, thereby signifying its eco-friendly nature and cost effectiveness. Such features drive its increased usage in many industries, such as oil & gas, aerospace, healthcare, electronics, building insulation and others. High production cost and poor mechanical strength, are likely to hinder the growth of the aerogel market. With advancements and innovations in materials, the world aerogel market is expected to grow rapidly in the near future. However, the adoption of aerogel in newer applications such as apparel, agriculture and power generation, could foster the market growth, during forecast period.
The aerogel market is dominated by silica aerogel, which is used in almost all major applications such as oil & gas, building insulation, automotive, aerospace, electronics and others. However, the report segments the market by raw materials such as carbon, alumina and others. In 2014, silica aerogel, garnered more than three fourth share in the world aerogel market. However, the consumption of carbon aerogel is estimated to be the highest during the forecast period, owing to growing application of carbon aerogel in electronics, semiconductor and super capacitors applications. Moreover, graphene (carbon based) aerogel, could be the ideal raw material for oil absorption application, owing to its extremely low density and hydrophilic attributes.
Aerogel market has been segmented by form into blanket, particle/powder, blocks and panel. In 2014, blanket aerogel captured more than 70% share in the total aerogel market, owing to its wide usage in oil & gas, pharmaceuticals and other industries. Based on application, the world aerogel market is segmented into building insulation, oil & gas, aerospace, automotive, health care, chemical, electronics, apparel and others. In 2014, oil & gas application garnered the highest revenue of $157.8 million in the aerogel market and would experience a substantial market growth in the near future. Building insulation application would be one of the fastest growing application segment at a CAGR of 35% during the forecast period. Growing awareness of global warming leads to increased usage of aerogel panel in the newly constructed buildings of developed regions such as Europe and North America.
In terms of geography, the market has been segmented into North America, Europe Asia-Pacific & LAMEA. In 2014, the consumption of aerogel in North America, was the highest owing to increasing demand of aerogel for oil & gas and construction applications in this region. However, Europe would be the fastest growing region, accounting for the highest CAGR of 34.7% in the in world aerogel market.
Competitive Intelligence, on prominent manufacturers of aerogel, provides key insights on the strategies implemented, to gain a significant share in the world aerogel market. Top market players in world aerogel market are adopting product launch, partnership, expansion as their key business strategies to sustain in the competitive market. Some of the leading manufacturers profiled in this report include Aspen Aerogel Inc., Cabot Corporation, American Aerogel Corporation, Svenska Aerogel AB, BASF SE, Dow Corning Corporation, Airglass AB, JIOS Aerogel, Active Aerogels and Acoustiblok UK Ltd.
KEY MARKET BENEFITS:
- The report includes extensive analysis of the factors driving as well as restraining the world aerogel market.
- The market projections for period 2014-2021, have been included along with factors affecting the same.
- The report also provides quantitative as well as qualitative trends to help the stakeholders in understanding the situations prevailing in the market.
- SWOT analysis helps to study the internal environment of the leading companies for strategy formulation.
- Competitive intelligence highlights the business practices followed by the leading market players across various geographies.
AEROGEL MARKET KEY SEGMENTS:
The world aerogel market is segmented as:
By Raw Material
- Building insulation
- Oil & Gas
- North America