Aerogel is an advanced high-performance insulation material that has high load-bearing capacity with high resistance to thermal, flame, moisture, sound, and weather. These unique properties find applications for aerogel, such as oil & gas, construction, automotive, marine, & aerospace, performance coating, day-lighting & LVHS among others.
The market for aerogel is estimated to grow on account of their outstanding physical properties and increasing need for advanced insulation materials for energy savings. High production costs, relatively low degree of commercialization, lack of huge industrial capacity, and high investment and R&D costs are expected to be the restraining factors for the market.
Region-wise, North America is leading the aerogel market. Growth in North America is led by the rising demand for oil & gas and construction applications due to increased insulation andenergy saving concerns in the region. Asia-Pacific is estimated to be the second largest market for aerogel due to the region’s favorable prospects; several companies are expanding their production capacity in Asian countries to benefit from the low-cost structures and growing local demand for aerogel materials in various industries, such as oil & gas, construction, automotive, among others. Blanket material is projected to have the biggest market of aerogel by form due to its flexibility and ease of handling. Silica aerogel had the largest market size in 2013 and will continue to dominate till 2019 on account of its commercial availability and wide-spread applications in several end-use industries.
The report analyzes the aerogel market trends and forecasts till 2019. The market size has been provided in terms of market volume (metric tons) and value ($thousand). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, productportfolio, recent developments, and company strategy.
The aerogel market is projected to register a CAGR of 19.1% between 2014 and 2019 to reach 26,093.2 metric tons. The oil & gas applicationis witnessing a CAGR of 11.8% and constitutes a significant part of the overall aerogel market. However, the automotive, marine, & aerospace application is projected to register a high CAGR of 39.0% by 2019.
The aerogel industry is moving towards investment in the implementation of technologies to commercialize the aerogel products and to expand the production facility. The companies involved in this market are extensively into research and new product developments.The company profiledin this report includes Aspen Aerogels Inc. (U.S.), Cabot Corporation (U.S.), Aerogel Technologies LLC (U.S.), Nano High-Tech Co. Ltd. (China), Guangdong Alison Hi-Tech Co. Ltd. (China), Active Aerogels (Portugal), Enersens SAS (France), JIOS Aerogel Corporation (South Korea) and BASF SE (Germany).