Industry Background:
Fueling applications of various end-user industries such as oil & gas, marine, automotive, electronics, building insulation and aerospace will help to boost the global aerogel market in the forecasted period. Aerogel is a mesoporous solid foam, derived by substituting the liquid component of the gel with a gas. It is composed of an interconnected nanostructure network with a minimum of 50% porosity. Although solid, it is tremendously porous as well as lightweight. Additionally, it consists of low thermal conductivity features, which make it an ideal insulation material. Growing globalization resulted into an escalation in funds, new formations for construction and properties of aerogel including high insulation, being cheap and abundant availability of the raw material are some of the factors driving the growth of global aerogel market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Aspen Aerogels (United States), Aerogel Technologies (United States), Cabot Corporation (United States), Nano High-Tech (China), Active Aerogels (Portugal), Guangdong Alison Hi-Tech (China), Jios Aerogel (South Korea), BASF (Germany) and Enersens (France) |
This growth is primarily driven by Increasing Demand from Various End-User Industries and Robust Enlargement of the Building and Construction Industry.
Globally, a noticeable market trend is evident High Adoption of Environment-Friendly Material
The Specialty Chemicals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Aspen Aerogels (United States), Aerogel Technologies (United States), Cabot Corporation (United States), Nano High-Tech (China), Active Aerogels (Portugal), Guangdong Alison Hi-Tech (China), Jios Aerogel (South Korea), BASF (Germany) and Enersens (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global aerogel market is fragmented in nature and is marked by the presence of several global as well as regional players. The key players are focusing on the expansion of their business lines.
Key Developments in the Market:
On 3rd April 2019, BASF SE and Aspen Aerogels, Inc. has announced the expansion of their strategic partnership with the signing of an addendum to their exclusive supply agreement. The addendum provides for the production and supply of a new non-combustible, high-performance thermal insulation product. The new product, complimentary to SLENTEX®, is showing excellent performance in early testing with lead customers.
In June 2023, Aspen Aerogels, Inc., a technology leader in Airtel-based sustainability and electrification solutions, announced that the company is celebrating the opening of a state-of-the-art engineering and rapid prototyping facility in Marlboro, Massachusetts. Aspen's Advanced Thermal Barrier Center will be the engineering hub for PyroThin cell-to-cell barriers to help manufacturers optimize the safety and performance of battery packs for the eMobility and energy storage systems markets.
Influencing Trend:
High Adoption of Environment-Friendly Material and Rising Demand For Insulated Systems In Industrial Applications
Market Growth Drivers:
Increasing Demand from Various End-User Industries and Robust Enlargement of the Building and Construction Industry
Challenges:
Poor Mechanical Strength
Restraints:
High Production Cost Associated with Aerogel
Opportunities:
Huge Demand in Day-lighting & LVHS Applications and New Applications in Apparel Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aerogel Market
- Analysis about New Entrants in Aerogel Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aerogel Study Sheds Light on
The Aerogel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aerogel industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aerogel industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.