PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1520997
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1520997
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 | |
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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.
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.
(Business overview, Products/Solutions/Services offered, Recent Developments, Deals, Expansions, Other developments, MnM view, Right to Win, Strategic choices, Weaknesses and competitive threats) **
*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.