HOME Top Market Reports Aerogel Market by Type (Silica, Polymer, and carbon), by Form (Blanket, Panel, Particle, & Monolith), by Processing (Virgin & Fabricated), by Application (Oil & Gas, Construction, Automotive, Marine & Aerospace, Performance Coatings, Day Lighting, & LVHS) - Global Trends & Forecasts to 2019

Aerogel Market by Type (Silica, Polymer, and carbon), by Form (Blanket, Panel, Particle, & Monolith), by Processing (Virgin & Fabricated), by Application (Oil & Gas, Construction, Automotive, Marine & Aerospace, Performance Coatings, Day Lighting, & LVHS) - Global Trends & Forecasts to 2019

By: marketsandmarkets.com
Publishing Date: November 2014
Report Code: CH 2967

 

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Aerogel is a porous, solid material that exhibits high thermal resistance, low density, low optical index of refraction, low dielectric constant, high degree of porosity, high specific surface area, and superlative thermal, acoustic, and impact damping properties.

Global demand for aerogel is projected to reach $547.9 million by 2019. The growth will be driven by the increasing demand for aerogel from oil & gas and construction applications. The North American region remains the largest market for aerogel, followed by Asia-Pacific. The Europe market is estimated to be the key growth area due to economic recovery in the region along with the increasing concern for the building insulation and energy savings.

Oil & gas is the major application for the aerogel market with around 74.5% of the market share in 2013. Automotive, marine, & aerospace application of aerogel is expected to have the highest growth among the applications between 2014 and 2019. Blanket aerogel is anticipated to be the largest segment for aerogel market by form in 2019. Particle form is estimated to grow at the fastest rate between 2014 and 2019. Silica aerogel is estimated to be the biggest aerogel market and is expected to continue its dominance by 2019 as it is the only type of aerogel material to be commercially available.

This report estimates the aerogel market for 2014, and projects its expected market size till 2019. It also provides a detailed qualitative and quantitative analysis of the aerogel market. Various secondary sources, such as encyclopedia, directories, and databases are used to identify and collect information that is useful for this extensive commercial study. The primary sources experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of the aerogel market.

Competitive scenarios of the top players in the aerogel market have been discussed in detail. We have also profiled the leading players of this industry with their recent developments and other strategic industry activities. These top companies include 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).

Scope of the report

This research report categorizes the global market for aerogel on the basis of type, form, processing, application, and region along with forecasting volume, value, and analyzing trends in each of the submarkets.

On the basis of type: The aerogel market is segmented on the basis of type, such as silica, polymer, carbon, and others. Each type is further described in detail in the report with volume and value forecasts.

On the basis of form: The aerogel market is segmented on the basis of form, such as blanket, panel, particle, and monolith. Each form is further described in detail in the report with volume and value forecasts.

On the basis of processing: The aerogel market is segmented on the basis of processing, such as virgin aerogel (consisting of as manufactured) and fabricated aerogel (consisting of composites and additives). Each of this is further described in detail in the report with volume and value forecasts.

On the basis of application: The aerogel market is segmented on the basis of applications, such as oil & gas, construction, automotive, marine, & aerospace, performance coating, day-lighting & LVHS, and others. Each application is further described in detail in the report with volume and value forecasts.

On the basis of region: Regional level segmentation is carried out for aerogel market; it includes North America, Asia-Pacific, Europe, and RoW, and further for key countries in each region that include:

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Sweden
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)

Table of Contents 
 
1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Scope
          1.2.1 Market Definition
          1.2.2 Market Covered
          1.2.3 Scope, By Region
          1.2.4 Year
          1.2.5 Currency
          1.2.6 Package Size
          1.2.7 Limitations
    1.3 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Market Size Estimation
    2.2 Market Crackdown & Data Triangulation
    2.3 Market Share Estimation
          2.3.1 Key Insights
          2.3.2 Assumptions

3 Executive Summary (Page No. - 30)

4 Expert Interview (Page No. - 34)

5 Premium Insights (Page No. - 37)
    5.1 Attractive Market Opportunity in Aerogel Market
    5.2 Significant Aerogel Markets
    5.3 Aerogel Market: Top Three Application Segments, 2019
    5.4 Aerogel Market: By Form
    5.5 Aerogel Market: By Type
    5.6 Aerogel Market: By Processing
    5.7 North America is the Largest Market for Aerogel
    5.8 Market Attractiveness, By Country
    5.9 Aerogel Market: By Application, 2014-2019
    5.10 Aerogel Market: Life Cycle Analysis, By Region
    5.11 Aerogel Market Trends & forecast, By Region, 2012-2019

6 Market Overview (Page No. - 45)
    6.1 Introduction
    6.2 Evolution
    6.3 Market Segmentation
          6.3.1 Aerogel Market, By Type
          6.3.2 Aerogel Market, By form
          6.3.3 Aerogel Market, By Processing
          6.3.4 Aerogel Market, By Application
          6.3.5 Aerogel Market, By Region
    6.4 Market Dynamics
          6.4.1 Drivers
                  6.4.1.1 Superior Thermal Resistance
                  6.4.1.2 Thinner and Lighter Alternative
                  6.4.1.3 Environmental Friendly Material
          6.4.2 Restraints
                  6.4.2.1 High Manufacturing Cost
                  6.4.2.2 Poor Mechanical Strength
          6.4.3 Opportunities
                  6.4.3.1 Potential Substitute for Conventional Insulation Materials
                  6.4.3.2 Apparel for Cold Regions
                  6.4.3.3 Growing Applications in Day-Lighting Segment
                  6.4.3.4 Enormous Demand From LVHS Segment
          6.4.4 Challenges
                  6.4.4.1 Dustiness of the Material
                  6.4.4.2 Perception Regarding Health and Safety
          6.4.5 Burning Issue
                  6.4.5.1 Market Acceptance

7 Industry Trends (Page No. - 61)
    7.1 Introduction
    7.2 Value Chain Analysis
    7.3 Production Process
          7.3.1 Silica Aerogel
          7.3.2 Organic Aerogel
          7.3.3 Carbon Aerogel
          7.3.4 Metal Oxide Aerogel
    7.4 Porter’s Five forces Analysis
          7.4.1 Threat From New Entrants
          7.4.2 Threat From Substitutes
          7.4.3 Bargaining Power of Suppliers
          7.4.4 Bargaining Power of Buyers
          7.4.5 Intensity of Competitive Rivalry
    7.5 Strategic Benchmarking
          7.5.1 New Product Development & Launch
          7.5.2 Investment & Fund Raise

8 Aerogel Market, By Type (Page No. - 69)
    8.1 Introduction
          8.1.1 Silica
          8.1.2 Polymer
          8.1.3 Carbon
          8.1.4 Others
    8.2 Market Size & Projection
          8.2.1 Polymer Aerogel: A New Material to Revolutionise Major End-Use Applications

9 Aerogel Market, By form (Page No. - 79)
    9.1 Introduction
          9.1.1 Blanket
          9.1.2 Particle
          9.1.3 Panel
          9.1.4 Monolith
    9.2 Market Size & Projection
          9.2.1 Particle Material to Witness Tremendous Growth Opportunities in the Next Five Years

10 Aerogel Market, By Processing (Page No. - 82)
     10.1 Introduction
             10.1.1 Virgin Aerogel
                        10.1.1.1 As Manufactured
             10.1.2 Fabricated Aerogel
                        10.1.2.1 Composites
                        10.1.2.2 Additives
     10.2 Market Size & Projection
             10.2.1 Promising Panel Segment is Contributing to the Growth of Composites Market

11 Aerogel Market, By End-Use Application (Page No. - 91)
     11.1 Introduction
             11.1.1 Oil & Gas
             11.1.2 Construction
             11.1.3 Automotive, Marine, & Aerospace
             11.1.4 Performance Coating
             11.1.5 Day-Lighting & LVHS
             11.1.6 Others
     11.2 Market Size & Projection
             11.2.1 Oil & Gas Segment is Projected to Be the Largest Consumer of Aerogel Market

12 Aerogel Market, By Region (Page No. - 102)
     12.1 Introduction
     12.2 North America
             12.2.1 U.S.
             12.2.2 Canada
             12.2.3 Mexico
             12.2.4 Energy Efficicency & Building Insulation Norms
     12.3 Asia-Pacific
             12.3.1 China
             12.3.2 Japan
             12.3.3 South Korea
             12.3.4 Rest of Asia-Pacific
     12.4 Europe
             12.4.1 Germany
             12.4.2 U.K.
             12.4.3 Sweden
             12.4.4 France
             12.4.5 Rest of Europe
             12.4.6 Energy Efficicency & Building Insulation Norms
     12.5 Rest of the World

13 Competitive Landscape (Page No. - 133)
     13.1 Introduction
     13.2 Market Share Analysis
     13.3 Maximum Developments in 2013 & 2014
     13.4 Growth Strategies in the Global Aerogel Market
     13.5 Cabot Corp. & Aspen Aerogels Inc.: the Most Active Participants
     13.6 Competitive Situation & Trends
             13.6.1 New Product Development & Launch, 2010-2014
             13.6.2 Investments & Fund Raise, 2010-2014
             13.6.3 Awards & Recognitions, 2010-2014

14 Company Profiles (Page No. - 142)
     14.1 Introduction
     14.2 Active Aerogels
             14.2.1 Business Overview
             14.2.2 Products
             14.2.3 Key Strategy
             14.2.4 Recent Developments
     14.3 Aerogel Technologies LLC
             14.3.1 Business Overview
             14.3.2 Products
             14.3.3 Key Strategy
             14.3.4 SWOT Analysis
             14.3.5 MNM View
     14.4 Aspen Aerogels Inc.
             14.4.1 Business Overview
             14.4.2 Products
             14.4.3 Key Strategy
             14.4.4 Recent Developments
             14.4.5 SWOT Analysis
             14.4.6 MNM View
     14.5 BASF SE
             14.5.1 Business Overview
             14.5.2 Product
             14.5.3 Key Strategy
             14.5.4 Recent Developments
     14.6 Cabot Corporation
             14.6.1 Business Overview
             14.6.2 Products
             14.6.3 Key Strategy
             14.6.4 Recent Developments
             14.6.5 SWOT Analysis
             14.6.6 MNM View
     14.7 Enersens SAS
             14.7.1 Business Overview
             14.7.2 Products
             14.7.3 Key Strategy
             14.7.4 Recent Development
     14.8 Guangdong Alison Hi-Tech Co. Ltd.
             14.8.1 Business Overview
             14.8.2 Products
             14.8.3 Key Strategy
             14.8.4 Recent Development
             14.8.5 SWOT Analysis
             14.8.6 MNM View
     14.9 Nano High-Tech Co. Ltd.
             14.9.1 Business Overview
             14.9.2 Products
             14.9.3 Key Strategy
             14.9.4 SWOT Analysis
             14.9.5 MNM View
     14.10 Jios Aerogel Limited
             14.10.1 Business Overview
             14.10.2 Products
             14.10.3 Key Strategy
             14.10.4 Recent Developments

15 Appendix (Page No. - 165)
     15.1 Discussion Guide
     15.2 Introducing RT: Real Time Market Intelligence
     15.3 Available Customizations
     15.4 Related Reports
 
 
List of Tables (84 Tables) 
 
Table 1 Aerogel: Physical Properties
Table 2 Thermal Conductivity of Different Insulation Materials
Table 3 Remarkable Thermal Performance is A Significant Market Driver
Table 4 High-End Technology Required in Aerogel Manufacturing Acts as A Major Market Restraint
Table 5 Day-Lighting: Systems & Benefits of Aerogel
Table 6 Aerogel is Paving New Growth Avenues in LVHS and Day-Lighting Segments
Table 7 Friability of Material is A Major Challenge for Aerogel Market
Table 8 Properties of Different Types of Aerogels
Table 9 Properties of Silica Aerogel
Table 10 Properties of Organic Polymer Aerogels
Table 11 Polyimide Aerogel: Benefits & Applications
Table 12 Properties of Carbon Aerogel
Table 13 Types of Aerogels in Others Category
Table 14 Colors of Metal Oxide Aerogels
Table 15 Properties of Metal Oxide Aerogel
Table 16 Properties of Metal Chalcogenide Aerogel
Table 17 Properties of Metal Aerogel
Table 18 Aerogel Market Size, By Type, 2012–2019 (MT)
Table 19 Aerogel Market Size, By Type, 2012–2019 ($Thousand)
Table 20 Aerogel: Key Market Players, By form
Table 21 Aerogel Blanket : Key Market Players, By Products
Table 22 Aspen Aerogels Inc. & Cabot Corp. : Blanket Product, By Application
Table 23 Advantages of Aerogel Blanket form
Table 24 Cabot Corp. : Particle Product, By Application
Table 25 Advantages of Aerogel Panel form
Table 26 Aerogel Technologies LLC : Monolith Product, By Application
Table 27 Aerogel Market Size, By form, 2012–2019 (MT)
Table 28 Aerogel Market Size, By form, 2012–2019 ($Thousand)
Table 29 Aerogel Market Size, By Processing, 2012–2019 (MT)
Table 30 Aerogel Market Size, By Processing, 2012–2019 ($Thousand)
Table 31 Aerogel Applications, By End-Use Industries
Table 32 Aerogel Advantages in Oil & Gas Applications
Table 33 Aerogel Advantages in Construction Applications
Table 34 Aerogel Applications, By End-Use Industries
Table 35 Aerogel Market Size, By End-Use Application, 2012–2019 (MT)
Table 36 Aerogel Market Size, By End-Use Application, 2012–2019 ($Thousand)
Table 37 Aerogel Market Size, By Region, 2012–2019 (MT)
Table 38 Aerogel Market Size, By Region, 2012–2019 ($Thousand)
Table 39 North America: Aerogel Market Size, By Country, 2012–2019 (MT)
Table 40 North America: Aerogel Market Size, By Country, 2012–2019 ($Thousand)
Table 41 North America: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 42 North America: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 43 U.S.: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 44 U.S.: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 45 Canada: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 46 Canada: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 47 Mexico: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 48 Mexico: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 49 North America Building Insulation Regulation
Table 50 Canada Ceiling Insulation Policies
Table 51 Canada Exterior Wall Insulation Policies
Table 52 Canada Basement Insulation Policies
Table 53 Asia-Pacific: Aerogel Market Size, By Country, 2012–2019 (MT)
Table 54 Asia-Pacific: Aerogel Market Size, By Country, 2012–2019 ($Thousand)
Table 55 Asia-Pacific: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 56 Asia-Pacific: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 57 China: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 58 China: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 59 Japan: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 60 Japan: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 61 South Korea: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 62 South Korea: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 63 Rest of Asia-Pacific: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 64 Rest of Asia-Pacific: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 65 Europe: Aerogel Market Size, By Country, 2012–2019 (MT)
Table 66 Europe: Aerogel Market Size, By Country, 2012–2019 ($Thousand)
Table 67 Europe: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 68 Europe: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 69 Germany: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 70 Germany: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 71 U.K.: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 72 U.K.: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 73 Sweden: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 74 Sweden: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 75 France: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 76 France: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 77 Rest of Europe: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 78 Rest of Europe: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 79 European Building Insulation Regulations
Table 80 Rest of Europe: Aerogel Market Size, By Application, 2012–2019 (MT)
Table 81 Rest of Europe: Aerogel Market Size, By Application, 2012–2019 ($Thousand)
Table 82 New Product Development & Launch, 2010-2014
Table 83 Investment & Fund Raise, 2010-2014
Table 84 Awards & Recognitions, 2010-2014
 
 
List of Figures (80 Figures) 
 
Figure 1 Global Aerogel Market: Research Methodology
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: top-Down Approach
Figure 4 Break Down of Primary Interviews, By Company Type, Designation & Region
Figure 5 Key Data Taken From Secondary Sources
Figure 6 Key Data Taken From Primary Sources
Figure 7 Aerogel Application Snapshot (2014 vs. 2019): Market for Automotive, Marine, & Aerospace Application to Grow at the Highest Rate
Figure 8 Aerogel Market, By Country, 2014 (Volume): European Countries to Be the Fastest Growing Market
Figure 9 Aerogel Market Share, By Region, 2014 (Volume): North America is Estimated to Be the Largest Market
Figure 10 Aerogel Market, By form, 2014 (Volume): Particle Segment is Estimated to Be the Highest Growing Market
Figure 11 Attractive Market Opportunity for Aerogel Manufacturers
Figure 12 U.S. and China: the top Two Countries for the Aerogel Market in 2014
Figure 13 Oil & Gas Segment Will Continue to Dominate the North American Market in the Next Five Years
Figure 14 Particle is Anticipate to Have Highest Growth Rate
Figure 15 Polymer Aerogel Has A Promising Future in Next Five Years
Figure 16 Composite Market Estimated to Grow at the Highest Rate
Figure 17 U.S. Captures the Lion’s Share in the North American Aerogel Market
Figure 18 Sweden to Emerge as A Lucrative Market
Figure 19 The top Three Application Segments Will Account for More Than 90% of the Global Market Size in 2019
Figure 20 Europe Market is Expected to Experience an Exponential Growth Phase for Aerogel By 2019
Figure 21 North America Dominates the Global Aerogel Market in 2014
Figure 22 Aerogel: Property Characteristics
Figure 23 Aerogel: Structure Characteristics
Figure 24 Ultra-Silica Aerogel: Guinness Records
Figure 25 Aerogel: Development Timeline
Figure 26 Aerogel Market Segmentation, By Type
Figure 27 Aerogel Market Segmentation, By form
Figure 28 Aerogel Market Segmentation, By Processing
Figure 29 Aerogel Market Segmentation, By Application
Figure 30 Aerogel Market, By Region
Figure 31 Overview of the Factors Governing the Global Aerogel Market
Figure 32 Comparative Thermal Efficiency in Pipeline Application
Figure 33 Comparative Analysis of R-Value for Different insulation Materials
Figure 34 Value Chain Analysis for Aerogel
Figure 35 Silica Aerogel: Production Process
Figure 36 Organic Aerogel: Production Process
Figure 37 Carbon Aerogel: Production Process
Figure 38 Metal Oxide  Aerogel: Production Process
Figure 39 Porter’s Five forces Analysis: Aerogel Market, 2013
Figure 40 Strategic Benchmarking: Cabot & Basf Are Adopting New Product Development & Launch to Innovate
Figure 41 Strategic Benchmarking: Aspen & Jios Are Encouraging Capital Investments to Expand Their Product offerings
Figure 42 Silica Aerogel Dominates the Market
Figure 43 Silica Aerogel Drives the Global Market
Figure 44 Emerging LVHS Segment to Drive the Particle Material Market
Figure 45 Particle Material to Witness Tremendous Growth Opportunities in the Next Five Years
Figure 46 Composites to Grow at the Highest Rate Between 2014 and 2019
Figure 47 Promising Panel Segment is Contributing to the Growth of Composites Market
Figure 48 Growing Need of Advanced Insulation Materials to Drive the Demand for Oil & Gas Segment
Figure 49 Emerging Aerogel Manufacturing Companies Stimulating Growth of Construction Segment
Figure 50 Development of Aerogel Products is Giving Impetus to Automotive, Marine, & Aerospace Segment
Figure 51 Particle Aerogel Material to Propel the Growth of Performance Coating Segment
Figure 52 Day-Lighting & LVHS Segment Projected to Have Demand Upsurge
Figure 53 End-Use Applications Driving the Others Segment
Figure 54 Automotive, Marine, & Aerospace Segment to Grow at the Highest Rate
Figure 55 Oil & Gas Segment Dominates the Aerogel Market
Figure 56 Regional Snapshot of Aerogel Market: European Countries to Drive the Market
Figure 57 Germany, South Korea, & Sweden- Emerging Markets for Aerogel Applications
Figure 58 North America Aerogel Market Snapshot: Preference towards Advanced Materials
Figure 59 In Asia-Pacific Region China is the Most Lucrative Country
Figure 60 European Aerogel Market Snapshot: Germany is the Largest Market
Figure 61 ROW: Oil & Gas Segment is Estimated to Drive the Market
Figure 62 Companies Adopted New Product Development & Launch as the Key Growth Strategy
Figure 63 Global Aerogel Market Share, By Key Players, 2013
Figure 64 Developments in Global Aerogel Market
Figure 65 New Product Development & Launch: the Most Popular Growth Strategy
Figure 66 Aerogel Market Developments, By Key Players, 2010-2014
Figure 67 Active Aerogels: Business Overview
Figure 68 Aerogel Technologies LLC.: Business Overview
Figure 69 Aerogel Technologies LLC: SWOT Analysis
Figure 70 Aspen Aerogels Inc.: Business Overview
Figure 71 Aspen Aerogels Inc.: SWOT Analysis
Figure 72 BASF SE: Business Overview
Figure 73 Cabot Corp.: Business Overview
Figure 74 Cabot Corp.: SWOT Analysis
Figure 75 Enersens SAS: Business Overview
Figure 76 Guangdong Alison Hi-Tech Co. Ltd.: Business Overview
Figure 77 Guangdong Alison Hi-Tech Co. Ltd.: SWOT Analysis
Figure 78 Nano High-Tech Co. Ltd.: Business Overview
Figure 79 Nano High-Tech Co. Ltd.: SWOT Analysis
Figure 80 Jios Aerogel Ltd.: Business Overview

The aerogel market is projected to register a CAGR of 19.1% between 2014 and 2019, in terms of volume.

Aerogel is an open-celled solid consisting of nanostructures which are interconnected to form a network-like structure. Aerogel was first developed in the 1930’s and used as better alternative to traditional insulation materials. Aerogel display an outstanding array of unique properties, such as high strength to weight ratio, high thermal resistance, flame & moisture retardant, low density, high surface area, nanoporous structure, and weather resistance among others. The aerogel market by type can be classified into three key segments, on the basis of type silica, polymer, carbon, and other aerogel that include metal & metal oxides among others. Polymer aerogel is the fastest-growing type as it was non-existent in terms of production in 2012 and at present several companies are conducting extensive research activities to develop polymer based aerogel materials for mass production.

The aerogel market is also segmented by form and processing. The aerogel market can be classified into four key segments, on the basis of form- blanket, panel, particle, and monolith. Blanket is the largest aerogel segment by form mainly attributed to its increasing use in the oil & gas and construction segment. Particle is estimated to be the fastest growing aerogel form owing to its growing applications in construction, performance coating, and cosmetics & personal care segment. The aerogel market can be classified into two key segments, on the basis of processing- virgin aerogel (consisting of as manufactured aerogel materials) and fabricated aerogel (consisting of composites and additives). As manufactured (virgin) aerogel is the largest market of aerogel due to its wide commercial availability and extensive use in R&D activities.

North America dominated the aerogel market followed by Asia-Pacific majorly due to the increasing demand for oil & gas and construction application in these regions. Europe is projected to witness high growth rate between 2014 and 2019. The aerogel market in Europe and North America is consolidated, whereas the market in Asia-Pacific has a fragmented structure, where China and South Korea have many small and upcoming aerogel manufacturers. The aerogel market was dominated by Aspen Aerogels Inc. (U.S.) and Cabot Corp. (U.S.) in 2013. The competition level in aerogel market is expected to be moderate as the market is highly patent driven and the expertise in R&D, established and well recognized products and brands, and huge financial assets of the market leaders makes it difficult for upcoming player to operate profitably in the market. Asian players cater only to the domestic market owing to their low production capacity and lack of innovation to manufacture a highly specialized material in a sophisticated configuration.

Aerogel Market, by Form, 2013

Aerogel Market

Source: Secondary Sources, Expert Interviews, and MarketsandMarkets Analysis

Aerogel Market, By Region, 2013

Aerogel Market

Source: Secondary Sources, Expert Interviews, and MarketsandMarkets Analysis

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