Aerogels Market to Reach US$1,093.2 mn by 2023, Driven by Construction, Oil & Gas, Transportation & Electronics

Aerogels are one of the most advanced lightweight composite materials that contain more than 95% air and silica or any other material particles suspended in intricate three dimensional porous structure. Aerogels are gels, wherein the liquid phase is replaced by air by keeping the solid phase undamaged. Aerogels were first synthesized in 1931 by Samuel Kistler. However, high cost associated with the production of aerogels resulted in slow commercialization of aerogels. Thus, usage of aerogels was restricted to high-end applications. Aerogels exhibit low density, porous structure, and low thermal conductivity. This makes them suitable for usage in various applications that require light weight and low thermal conductivity such as insulation in petrochemical, construction, and aerospace industries. Expansion in the insulation industry has propelled the usage of aerogels in various end-user industries. The large array of properties make aerogels most suitable in applications that require light weight and low thermal conductivity. Rising demand for aerogels in oil & gas and construction industries is likely to drive the aerogels market in the next few years. However, availability of various low-cost substitutes and high cost associated with the production of aerogels are projected to hamper market growth during the forecast period. High demand in the transportation industry is expected to act as a major opportunity for aerogels in the next few years.

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This report analyzes and forecasts the market for aerogels at the global and regional level. The market has been forecast based on volume (tons) and revenue (US$ Mn) from 2015 to 2023, considering 2014 as the base year. The study includes drivers and restraints of the global aerogels market. It also covers impact of these drivers and restraints on demand for aerogels during the forecast period. The report also highlights opportunities in the aerogels market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global aerogels market. Porter’s Five Forces model for the aerogels market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global aerogels market by segmenting it in terms of products such as silica aerogel, metal oxide aerogel, carbon aerogel, and others such as organic polymers. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual products and end-users in all regions.

The report provides the estimated market size of aerogels for 2015 and forecast for the next eight years. The global market size of aerogels is provided in terms of volume and revenue. Market volume has been defined in tons, while market revenue is in US$ Mn. Market numbers are estimated based on key products and end-users of aerogels. Market size and forecast for products and end-users have been provided in terms of global, regional, and country level markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

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Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.

We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The report comprises profiles of major companies operating in the global aerogels market. Key players profiled in the report include Cabot Corporation, Aspen Aerogels, Inc., Aerogel Technologies, LLC, JIOS Aerogel Limited, Surnano Aerogel Co., Ltd, Svenska Aerogel AB, Green Earth Aerogel Technologies, BASF SE, Guangdong Alison Hi-Tech Co., Ltd., and Ocellus, Inc. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

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