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The global aerogel market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 11% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Also known as frozen smoke, aerogel is a translucent, synthetic solid-state substance that has an extremely low density and excellent thermal insulating properties. It is mainly produced by replacing the liquid element of the gel with gas in a high-temperature environment. It is light in weight and has a high surface area, owing to which it is widely utilized in various industrial and commercial applications across the globe.
The market is currently experiencing strong growth on account of the expanding applications of aerogel in numerous end use industries. For instance, it is employed in the aerospace industry in the manufacturing of wetsuits and spacesuits. It is also used in the construction sector as a superlight concrete and wall insulator. Besides this, aerogel serves as a crucial component in the manufacturing of fire suits, spacecraft and vehicles due to its superior thermal insulation property. Additionally, owing to its several other advantageous properties, it is gaining popularity in the electronics, and oil and gas industries worldwide. Furthermore, some of the leading vendors operating in the industry are focusing on increasing their budget for research and development (R&D) activities to introduce polymer-based aerogels that have enhanced strength and flexibility. Such steps are expected to be instrumental in expanding their existing consumer base and market share, thus contributing to the market growth. These factors collectively are projected to fuel the market growth in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aerogel market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on processing, type, form and application.
Breakup by Processing:
Breakup by Type:
Silica aerogel exhibits a clear dominance in the market.
Breakup by Form:
At present, blanket accounts for the majority of the total market share.
Breakup by Application:
Aerogel finds vast applications in the oil and gas industry.
On the geographical front, North America enjoys the leading position in the market.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
|Base Year of the Analysis||2020|
|Segment Coverage||Processing, Type, Form, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Aspen Aerogels, Inc., BASF SE, Cabot Corporation, The Dow Chemical Company, JIOS Aerogel Corporation, Svenska Aerogel Holding AB, Enersens SAS, Active Aerogels, Nano Tech Co., Ltd., Guangdong Alison Hi-Tech Co., Ltd., Intelligent Insulation, Surnano Aerogel Co. Ltd., TAASI Corporation, Protective Polymers Ltd. and Green Earth Aerogel Technologies Limited|
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Key Questions Answered in This Report:
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