NEW YORK, Jan. 26, 2022 /PRNewswire/ -- The aerogel market has been segmented into five regions, namely APAC, North America, Europe, South America, and MEA. The market will be dominated by North America during the forecast period. The US is the key market for the aerogel in the region. Owing to rising concerns over building emissions in developed economies such as the US and Canada, there has been a high emphasis on sustainable construction practices and the use of emission-free building materials. Market growth in North America will be faster than the growth of the market in South America. The increased usage of aerogel materials in the automotive, marine and aerospace applications will significantly drive the aerogel market growth in North America during the forecast period. Also, North America is the largest region in terms of the production and consumption of aerogel materials.
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The aerogel market is set to grow by USD 392.69 million from 2020 to 2025 at an accelerating CAGR of 10.30%. The year-over-year growth rate of the market in 2021 is 10.08%. This report presents a detailed analysis of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters
The aerogel market forecast report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market. Technavio identifies growing penetration in organized retail as one of the major factors driving the growth of the market. However, factors such as the declining birth rate may challenge the market growth.
The aerogel market covers the following areas:
Market Segmentation Analysis
By application, the aerogel market has been classified into five segments, namely oil and gas, construction, AMA, daylighting and LVHS, and others. The oil and gas segment will have significant market share growth during the forecast period. The output from the oil and gas refineries is carefully transported to the re-gasification sites through long pipelines, which require insulation. Thus, the oil and gas industry is heavily dependent on the insulations of these pipelines. Moreover, the low thickness and superior insulation materials are fueling the demand for aerogel in this segment. Moreover, unprocessed hydrocarbons in a temperature-sensitive environment, can be transported over long distances with the help of Aerogel.
Aerogel Technologies LLC
Aerogel UK Ltd.
Aspen Aerogels Inc.
Green Earth Aerogel Technology SL
Guangdong Alison Hi-Tech Co. Ltd.
JIOS Aerogel Corp.
The global aerogel market is fragmented with the presence of well-diversified international, regional, and local vendors. Several regional vendors offer aerogel at a comparatively lower price than international vendors, which intensifies the competition in the market. The competitive environment in this market is expected to intensify further with the increasing product extensions, technological innovations, and M&A activities.
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Aerogel Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 10.30%
Market growth 2021-2025
$ 392.69 million
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 40%
Key consumer countries
US, UK, Japan, China, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Active Aerogels, Aerogel Technologies LLC, Aerogel UK Ltd., Aspen Aerogels Inc., BASF SE, Cabot Corp., ENERSENS SAS, Green Earth Aerogel Technology SL, Guangdong Alison Hi-Tech Co. Ltd., and JIOS Aerogel Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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