The market is majorly driven by growing demand from various end-use industries such as oil and gas, building and construction, automotive, aerospace and marine, and performance coatings. Robust expansion of the building and construction industry will positively impact demand for aerogel over the forecast period as number of residential and commercial construction projects rise across the globe.
The Global Aerogel Market size is expected to reach USD 3.29 Billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 22.6% CAGR during the forecast period.
North America was the largest regional market in 2016 in terms of revenue, driven by robust growth in various end-use industries, especially in U.S. Furthermore, positive outlook of the oil and gas industry is expected to boost demand over the next few years. Aerogel offers several advantages such as low installation costs and improved pipeline compression resistance.
The market is fragmented in nature and is marked by presence of several global as well as regional players. The vendor landscape is characterized by new product launches as manufacturers are investing on R&D activities to increase their market presence across geographies.
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Top Players of Aerogel Market:
Major companies in the global market include Aspen Aerogels, Inc.; Cabot Corporation; Aerogel Technologies LLC; Nano High-Tech Co., Ltd.; Active Aerogels; Dow Corning Corporation; BASF SE; and American Aerogel Corporation. Aspen Aerogels and Cabot Corporation hold significant shares in the global arena on account of their patented technologies.
Market Segmentation of Aerogel Market:
The Global Aerogel Market segmented on the basis of Product, Form, End Use, and Technology.
By Product:
Silica
Polymer
Carbon
By Form:
Blanket
Particle
Panel
Monolith
By End-Use:
Oil & Gas
Building & Construction
Automotive, Aerospace & Marine
Performance Coatings
By Technology:
Supercritical Drying
Other Drying
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