NEW YORK, June 20, 2023 /PRNewswire/ -- The aerogel market size is set to grow by USD 558.19 million between 2022 and 2027, progressing at a CAGR of 10.83% during the forecast period, according to Technavio Research. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. For more insights on CAGR and YOY growth rate, Download Sample Report 

Although the environment-friendly properties of aerogel, growing demand for lightweight and thinner substitutes for insulation, and technological advancements in aerogel technology will offer immense growth opportunities, the formation of dust during the manufacturing process is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this aerogel market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Frequently Asked Questions:

• Based on segmentation by application, which is the leading segment in the market?
  By application, the market will witness maximum growth in the oil and gas segment over the forecast period.
  

• What are the major trends in the market?
  The growing use of apparel for colder places is the key trend in the market.
  

• At what rate is the market projected to grow?
  The market is projected to grow at a CAGR of 10.83% during the forecast period.
  

• Who are the top players in the market?
  Active Aerogels, Advanced Aerogels LLC, Aerogel Factory Co. Ltd., Aerogel Technologies LLC, Aerogel UK Ltd., Armacell International SA, Aspen Aerogels Inc., BASF SE, Cabot Corp., Dow Inc., Groupe PCAS, Guangdong Alison Hi Tech Co. Ltd., Intelligent Insulation Ltd., JIOS Aerogel Pte Ltd., Nano Technology Co. Ltd., Protective Polymers Ltd., Svenska Aerogel Holding AB, Taasi Corp., Xiamen Nameite New Materials Technology Co. Ltd., and ZheJiang Surnano Aerogel Co. Ltd. are the top players in the market.
  

• What are the key market drivers and challenges?
  The environment-friendly properties of aerogel will drive market growth. However, the formation of dust during the manufacturing process may impede market growth.
  

• How big is the North American market?
  North America will account for 43% of the market growth during the forecast period.

Aerogel Market 2023-2027: Segmentation

The aerogel market is segmented as below:

• Application

• Product

• Geography

The market growth in the oil and gas segment will be significant during the forecast period. The growing need for low thicknesses and superior insulation materials in the oil and gas industry is driving the growth of the segment. Increased investments in the oil and gas industry will further drive the growth of the segment during the forecast period.

North America will account for 43% of the market growth during the forecast period. The regional market is driven by the growing use of aerogel materials in automotive, marine, and aerospace applications in North America. In addition, the region is home to key players such as Aspen Aerogels and American Aerogel. Also, the rising concerns over building emissions in developed economies such as the US and Canada have increased the emphasis on sustainable construction practices and the use of emission-free building materials. These factors are driving the growth of the aerogel market in North America.

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Aerogel Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The aerogel market report covers the following areas:

• Aerogel Market Size

• Aerogel Market Trends

• Aerogel Market  Analysis

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Aerogel Market 2023-2027: Vendor Analysis and Scope

The global aerogel market is fragmented with the presence of several regional and global vendors. The vendors are focusing on offering products with high differentiation and are expanding their product portfolios. Rapid industrialization and urbanization in developing countries like India, Brazil, Mexico, Angola, and China have led to the entry and growth of domestic vendors. The competition will intensify during the forecast period as vendors compete based on factors such as the cost of production, product innovation, price, operational cost, research and development (R&D) cost, and product quality. Some of the key vendors covered in the report include:

• Active Aerogels - The company offers aerogel products such as powder and beads for multifactor suppression using dielectric filling techniques.

• Aerogel Technologies LLC - The company offers aerogel products such as Airloy Ultramaterials.

• Armacell International SA - The company offers aerogel products such as ArmaGel HT.

• BASF SE - The company offers aerogel products such as Slentex.

• Advanced Aerogels LLC

• Aerogel Factory Co. Ltd.

• Aerogel UK Ltd.

• Aspen Aerogels Inc.

• Cabot Corp.

• Dow Inc.

• Groupe PCAS

• JIOS Aerogel Pte Ltd.

• Nano Technology Co. Ltd.

• Protective Polymers Ltd.

• Svenska Aerogel Holding AB

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Aerogel Market 2023-2027: Driver

The market is driven by the environment-friendly properties of aerogel. Most of the insulating materials currently in use are non-recyclable and non-biodegradable. Hence, the disposal of such materials poses a serious threat to the environment. In contrast, aerogels can be used as additives and composites in various applications owing to their eco-friendly nature. It is reusable and can be easily disposed of safely after the completion of its life cycle. With the increasing focus on the adoption of sustainable practices among end-user industries, the demand for aerogel will increase during the forecast period.

Aerogel Market 2023-2027: Challenge

The formation of dust during the manufacturing process is identified as the major challenge hindering the growth of the market. During manufacturing, aerogel is rolled up, cut, and placed into critical dryers. The rolling up of aerogel leads to the formation of micro-fragments in the gel. The micro-fragments released from the fiber form nano aerogel particles, also termed dust. The formation of the dust causes difficulties in handling products for applications such as petrochemical and oil and gas insulation. This is a major challenge affecting the growth of the market.

Aerogel Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will assist aerogel market growth during the next five years

• Estimation of the aerogel market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the aerogel market across North America, Europe, APAC, South America, and Middle East and Africa

• Analysis of the market's competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of aerogel market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global aerogel market 2017 - 2021

• 4.2 Application Segment Analysis 2017 - 2021

• 4.3 Product Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Application

• 6.1 Market segments

• 6.2 Comparison by Application

• 6.3 Oil and gas - Market size and forecast 2022-2027

• 6.4 Construction - Market size and forecast 2022-2027

• 6.5 Automotive, marine, and aerospace - Market size and forecast 2022-2027

• 6.6 Performance coatings - Market size and forecast 2022-2027

• 6.7 Others - Market size and forecast 2022-2027

• 6.8 Market opportunity by Application

7 Market Segmentation by Product

• 7.1 Market segments

• 7.2 Comparison by Product

• 7.3 Silica - Market size and forecast 2022-2027

• 7.4 Polymer - Market size and forecast 2022-2027

• 7.5 Carbon - Market size and forecast 2022-2027

• 7.6 Others - Market size and forecast 2022-2027

• 7.7 Market opportunity by Product

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 APAC - Market size and forecast 2022-2027

• 9.6 South America - Market size and forecast 2022-2027

• 9.7 Middle East and Africa - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 Germany - Market size and forecast 2022-2027

• 9.10 China - Market size and forecast 2022-2027

• 9.11 UK - Market size and forecast 2022-2027

• 9.12 Japan - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Active Aerogels

• 12.4 Aerogel Technologies LLC

• 12.5 Armacell International SA

• 12.6 Aspen Aerogels Inc.

• 12.7 BASF SE

• 12.8 Cabot Corp.

• 12.9 Dow Inc.

• 12.10 Groupe PCAS

• 12.11 Guangdong Alison Hi Tech Co. Ltd.

• 12.12 Intelligent Insulation Ltd.

• 12.13 JIOS Aerogel Pte Ltd.

• 12.14 Nano Technology Co. Ltd.

• 12.15 Svenska Aerogel Holding AB

• 12.16 Taasi Corp.

• 12.17 ZheJiang Surnano Aerogel Co. Ltd.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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