[250 Pages Report] Global Aerogel demand is anticipated to be valued at US$ 1.5 Billion in 2022, forecast to grow at a CAGR of 17% to be valued at US$ 7.5 Billion from 2022 to 2032. Due to technical advancements in the area, North America led the worldwide market, followed by Asia Pacific.
Report Attributes | Details |
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Estimated Base Year Value (2021) | US$ 1 Billion |
Expected Market Value (2022) | US$ 1.5 Billion |
Anticipated Forecast Value (2032) | US$ 7.5 Billion |
Projected Growth Rate (2022 to 2032) | 17% CAGR |
The market is likely to be driven by the fast development of aerogel for high-temperature insulation, mainly in the oil and gas industry, due to its low thermal conductivity. The global pandemic in 2020 had a significant influence on the market. The mandated lockdowns in several places caused a delay in new insulation construction in the oil and gas industry, resulting in market growth that was constrained.
In 2020, however, market growth was driven by product use in essential applications for important MRO tasks. The United States government is continually providing incentives and encouraging the usage of electric vehicles (EVs). In addition, it is assisting OEMs and part suppliers with product development and increasing EV manufacturing through different aids. As a result, the market is likely to benefit from the recent development of a product line of aerogel thermal barriers for use in lithium-ion batteries in electric vehicles.
Thin polymer aerogels are being investigated by industry players for usage in shelter applications such as insulated tents, renovating historical structures, and other insulation requirements. Interior insulation options for building retrofit, thin facade insulation for historical monument refurbishment, roof balcony, and side balcony constructions are all gaining popularity.
The market has a highly concentrated structure due to the existence of limited companies, most of which are based in North America and Europe. The industry's major players are investing in research and development in order to lower manufacturing costs and increase production capacity in order to meet future demand.
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Polyurethane foam, mineral wool, rock wool, and stone wool are examples of traditional insulating materials with downsides. To obtain the requisite R-value, for example, extensive layers of these materials are required, resulting in the loss of valuable floor space in new construction. It's considerably more difficult to add significant levels of insulation to historic structures since the extra layers alter the house's aesthetic look.
As a result, aerogels are expected to be an appropriate substitute for existing insulating materials in new structures to meet energy criteria established by various regulatory authorities and to prevent structural compromises. Aerogel materials can save a significant amount of energy that would otherwise be required for heating and cooling because of their poor thermal conductivity and thinness. Because of its qualities, such as low weight and poor heat conductivity, aerogels are utilized for outerwear in cold climates. They're also commonly employed in industrial applications.
One of the primary factors limiting the growth of the aerogel market is the high cost of manufacture. The high cost of raw materials (particularly alkoxide-based precursor materials), complex process methods (solvent exchange stages, long reaction periods restricted by diffusion), and the installation of relatively modest production capacity of enterprises all contribute to the high cost of silica aerogels. Aerogel materials require a lot of research and development, which makes the whole process expensive.
Aerogel materials are made via synthetic processes, which are less adaptable. Aerogel manufacture needs a complex facility due to the extremely specialized production procedures. Supercritical drying is the most costly phase in the aerogel production process.
With a revenue share of more than 46% in 2020, North America led the worldwide market and is predicted to grow at a steady CAGR of 14.1% during the forecast period. This tendency can be linked to the industry's consolidated structure as well as the region's large concentration of aerogel makers, particularly in the United States.
Because of increased product innovation and application development, North America has a significant growth potential. For example, due to its extensive application scope in vehicle batteries, the fast expanding production of Electric Cars (EVs) and hybrid vehicles in the area is likely to boost product demand.
According to Future Market Insights, with ongoing recovery measures, energy efficiency, and insulation laws in the area, demand for aerogel is expected to rise throughout Europe. Western European countries such as Germany, the United Kingdom, France, and Sweden are driving the demand.
Energy conservation rules across a variety of industries, including oil and gas, construction, and residential development, are driving demand for innovative insulating materials, which is boosting demand for aerogels in the region. High-end automotive and other industrial sectors, which contribute to the increasing aerogel industry, demand lightweight and high-performance materials. Cabot Corporation's businesses in Europe dominate the European aerogel market.
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Companies and industries are adhering to tight environmental regulations and improvising current materials and technologies to fulfill the standard criteria and specifications as worries about sustainability grow as a result of climate change. To increase their market presence, key companies use a variety of techniques, such as media marketing and the hosting of business conventions.
Several corporations are also working with trade organizations to build industry-specific apps. Exclusive rights to sell items from famous brands are increasingly being acquired by businesses. The following are some of the major participants in the worldwide aerogel market: Cabot Corp, BASF SE, Aerogel Technologies LLC and Aspen Aerogels, Inc. among others.
Report Attributes | Details |
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Growth Rate | CAGR of 17% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2020 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in US$ Million and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Customization | Available Upon Request |
FMI projects the global Aerogel market to expand at a 17% value CAGR by 2032
North America is expected to be the most opportunistic aerogel market.
Cabot Corp, BASF SE, Aerogel Technologies LLC and Aspen Aerogels, Inc. are some prominent aerogel manufacturers
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Material Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Material Type, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Material Type, 2022-2032
5.3.1. Silica
5.3.2. Carbon
5.3.3. Metal Oxides
5.3.4. Other Material Types
5.4. Y-o-Y Growth Trend Analysis By Material Type, 2017-2021
5.5. Absolute $ Opportunity Analysis By Material Type, 2022-2032
5.5.1. Deep-dive segmentation will be available in the sample on request
6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Form
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Form, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Form, 2022-2032
6.3.1. Monolithic Blocks
6.3.2. Panel
6.3.3. Blanket
6.3.4. Fine Particles
6.4. Y-o-Y Growth Trend Analysis By Form, 2017-2021
6.5. Absolute $ Opportunity Analysis By Form, 2022-2032
6.5.1. Deep-dive segmentation will be available in the sample on request
7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Application, 2017-2021
7.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Application, 2022-2032
7.3.1. Construction
7.3.2. Oil & Gas
7.3.3. Chemicals
7.3.4. Automotive
7.3.5. Aerospace
7.3.6. Other Applications
7.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021
7.5. Absolute $ Opportunity Analysis By Application, 2022-2032
7.5.1. Deep-dive segmentation will be available in the sample on request
8. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Region, 2017-2021
8.3. Current Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Region, 2022-2032
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. East Asia
8.3.5. South Asia & Pacific
8.3.6. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. U.S.
9.2.1.2. Canada
9.2.2. By Material Type
9.2.3. By Form
9.2.4. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Material Type
9.3.3. By Form
9.3.4. By Application
9.4. Key Takeaways
10. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Mexico
10.2.1.2. Brazil
10.2.1.3. Rest of Latin America
10.2.2. By Material Type
10.2.3. By Form
10.2.4. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Material Type
10.3.3. By Form
10.3.4. By Application
10.4. Key Takeaways
11. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. Italy
11.2.1.3. France
11.2.1.4. U.K.
11.2.1.5. Spain
11.2.1.6. BENELUX
11.2.1.7. Russia
11.2.1.8. Rest of Europe
11.2.2. By Material Type
11.2.3. By Form
11.2.4. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Material Type
11.3.3. By Form
11.3.4. By Application
11.4. Key Takeaways
12. East Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Material Type
12.2.3. By Form
12.2.4. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Material Type
12.3.3. By Form
12.3.4. By Application
12.4. Key Takeaways
13. South Asia & Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. India
13.2.1.2. ASEAN
13.2.1.3. Australia and New Zealand
13.2.1.4. Rest of South Asia & Pacific
13.2.2. By Material Type
13.2.3. By Form
13.2.4. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Material Type
13.3.3. By Form
13.3.4. By Application
13.4. Key Takeaways
14. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. Turkey
14.2.1.3. South Africa
14.2.1.4. Rest of MEA
14.2.2. By Material Type
14.2.3. By Form
14.2.4. By Application
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Material Type
14.3.3. By Form
14.3.4. By Application
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Material Type
15.1.2.2. By Form
15.1.2.3. By Application
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Material Type
15.2.2.2. By Form
15.2.2.3. By Application
15.3. Mexico
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Material Type
15.3.2.2. By Form
15.3.2.3. By Application
15.4. Brazil
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Material Type
15.4.2.2. By Form
15.4.2.3. By Application
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Material Type
15.5.2.2. By Form
15.5.2.3. By Application
15.6. Italy
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Material Type
15.6.2.2. By Form
15.6.2.3. By Application
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Material Type
15.7.2.2. By Form
15.7.2.3. By Application
15.8. U.K.
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Material Type
15.8.2.2. By Form
15.8.2.3. By Application
15.9. Spain
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Material Type
15.9.2.2. By Form
15.9.2.3. By Application
15.10. BENELUX
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Material Type
15.10.2.2. By Form
15.10.2.3. By Application
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Material Type
15.11.2.2. By Form
15.11.2.3. By Application
15.12. China
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Material Type
15.12.2.2. By Form
15.12.2.3. By Application
15.13. Japan
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Material Type
15.13.2.2. By Form
15.13.2.3. By Application
15.14. South Korea
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Material Type
15.14.2.2. By Form
15.14.2.3. By Application
15.15. India
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Material Type
15.15.2.2. By Form
15.15.2.3. By Application
15.16. ASEAN
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Material Type
15.16.2.2. By Form
15.16.2.3. By Application
15.17. Australia and New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Material Type
15.17.2.2. By Form
15.17.2.3. By Application
15.18. GCC Countries
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Material Type
15.18.2.2. By Form
15.18.2.3. By Application
15.19. Turkey
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Material Type
15.19.2.2. By Form
15.19.2.3. By Application
15.20. South Africa
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2021
15.20.2.1. By Material Type
15.20.2.2. By Form
15.20.2.3. By Application
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Material Type
16.3.3. By Form
16.3.4. By Application
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Aspen Aerogels, Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Cabot Corporation
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Thermablok UK
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Blueshift International Materials Inc.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. General Insulation Company
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. BASF SE
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Pacor, Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. A. Proctor Group Ltd.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Dow Chemicals
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Enviroform Solutions
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. Insulation Industries
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
17.1.12. JIOS Aerogel
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.12.5.2. Product Strategy
17.1.12.5.3. Channel Strategy
17.1.13. Nano High-Tech Co., Ltd.
17.1.13.1. Overview
17.1.13.2. Product Portfolio
17.1.13.3. Profitability by Market Segments
17.1.13.4. Sales Footprint
17.1.13.5. Strategy Overview
17.1.13.5.1. Marketing Strategy
17.1.13.5.2. Product Strategy
17.1.13.5.3. Channel Strategy
17.1.14. Ocellus
17.1.14.1. Overview
17.1.14.2. Product Portfolio
17.1.14.3. Profitability by Market Segments
17.1.14.4. Sales Footprint
17.1.14.5. Strategy Overview
17.1.14.5.1. Marketing Strategy
17.1.14.5.2. Product Strategy
17.1.14.5.3. Channel Strategy
17.1.15. CF Technologies, Inc.
17.1.15.1. Overview
17.1.15.2. Product Portfolio
17.1.15.3. Profitability by Market Segments
17.1.15.4. Sales Footprint
17.1.15.5. Strategy Overview
17.1.15.5.1. Marketing Strategy
17.1.15.5.2. Product Strategy
17.1.15.5.3. Channel Strategy
17.1.16. Green Earth Technologies
17.1.16.1. Overview
17.1.16.2. Product Portfolio
17.1.16.3. Profitability by Market Segments
17.1.16.4. Sales Footprint
17.1.16.5. Strategy Overview
17.1.16.5.1. Marketing Strategy
17.1.16.5.2. Product Strategy
17.1.16.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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