Oil & Gas application has the highest revenue of $26.4 million in the Europe blanket aerogel market by 2022.
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Aerogel is a dry solid material with low density, low thermal conductivity, and lightweight properties. Europe is a highly promising region accounting for one-third share in the global blanket aerogel market. The growth in this region is attributed to the presence of global brands, such as Aspen Aerogels and Cabot Corp., in Germany. The European Union green policy, especially for ecofriendly infrastructure, commonly known as 20-20-20 policies have boosted the market growth by catalyzing the need for building and industrial insulators.
The aerogel blanket market in Europe finds higher number of applications for building insulations and oil & gas pipe-insulation solutions. Silica-based aerogel blankets are commonly used for blanket productions. Silica aerogel provides efficient insulations with its blanket form, as silica is highly thermo-resistant material. The European Union energy efficiency policy, which mandates all buildings to reduce their energy consumption by 20% until 2020, is the key factor driving the increased adoption of aerogel blankets for insulating buildings.
Key findings of the study:
• Building insulation and oil & gas segment together contributed around half of the share in Europe blanket aerogel market.
• Oil & gas segment is expected to forfeit its dominance by 2022.
• Aerospace, automotive, healthcare, and chemical industries jointly accounted for more than one-third share of the overall market revenue in 2015.
• In 2015, silica feedstock contributed more than half of the blanket aerogel market.
• Russia led with around one-third market share in 2015.
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German blanket aerogel market is projected to grow at the fastest CAGR of 40.7% during analysis period.
Russia is leading consumer of the aerogel blankets owing to highest production of the oil & gas in the country. U.K. and Germany are the next major countries in terms of aerogel blanket demand in the European region with major contribution from automotive and building insulation application segments.
The prominent players profiled include, Aspen Aerogel, Inc., Cabot Corporation, Svenska Aerogel AB, Acoustiblok UK Ltd., Active Space Technologies, and Airglass AB.
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