Silica Aerogel Market Research Report - Forecast to 2027

Silica Aerogel Market Global Research Report: By Form (Blanket, Panel, Monolith, Others), The Application (Oil & Gas, Building Insulation, Industrial Insulation, Aerospace & Defense, Automobile And Others) – Forecast Till 2027

ID: MRFR/CnM/0382-HCR | February 2021 | Region: Global | 142 pages

Silica Aerogel Market overview


The Silica Aerogel Market will show rapid growth in the forecast period with rising demand for silica aerogel in all sectors.


Silica aerogels have created a lot of interest in both technology and science because of their optical transparency, low thermal conductivity, low bulk density, hydrophobicity, and high surface area. Aerogel is developed from the gel, and the liquid components of gel are replaced with that has, and there are many types of aerogel available in the market, such as silicon, polymers, and carbon.  But among these, silica is the most used aerogel with its various advantages and a wide area of application. The silica aerogel market is growing rapidly with increasing demand for it in many industries such as oil and gas, construction and buildings, aerospace and automotive industry, and performance coatings. Expansion of the construction and buildings sector has a huge impact on demand for silica aerogel in the forecast period.


In many regions, the government is focusing on developing the infrastructure, as well as the growing economy, and the financial condition of people has boosted the residential and commercial projects across all the regions in the globe.  Apart from the construction industry, silica aerogel has high application in the oil and gas industries. Silica aerogels help to reduce the thickness and give thermal resistance of aero materials, and it is showing a huge demand in oil and gas sectors where the primary importance is insulation. With the Increasing demand for silica aerogels in various sectors, the silica aerogel market is on the rise.  Aerogel price can be costly, but silica aerogel price is low and cost-effective. That is why many industries are using it.


The aerogel market was valued at $701 million in the year 2019 and is expected to reach $1,395.5 million by the end of the year 2027 with a CAGR rate of 9.3%. With advancements in material application in different areas, the silica aerogel market is expected to grow more in the coming years. Even this silica aerogel is solid, it is extremely lightweight, porous, low thermal conductivity, and is an ideal material to use in various Industries. Moreover, silica aerogel can be recycled after one use, and that is why is silica aerogel price is low and eco-friendly. This is why it is majorly applicable in different sectors.


Covid-19 analysis


As per the data, covid-19 was the main reason behind the downfall of the economy in many regions. Many business sectors suffered a lot from this pandemic. Both public and government sectors were facing financial crises due to the covid-19 pandemic. Due to social distancing guidelines and the imposition of lockdown in many countries, the businesses were shut down. Due to this, the production of products has stopped. The shortage of laborers was only one of the major reasons behind the low production. Due to all these factors, the aerogel market faced problems. The demand was low because construction work was stopped in many countries. Other sectors such as automotive, aerospace, and oil & gas sectors were also closed, so the demand for silica aerogel decreased. Overall covid-19 pandemic had a negative impact on the silica aerogel market. The key players of the market played a huge role in keeping the silica aerogel market demand high, and the aerogel market is expected to see positive growth in demand after the post-covid-19 situation.


Competitive landscape


The major players in the silica aerogel market are:



  • BASF SE (Germany),

  • Aspen Aerogels Inc. (U.S),

  • Cabot Corporation (U.S.),

  • Ocellus Inc (U.S.)

  • Aerogel Technologies (U.S.),

  • JIOS Aerogel Corporation (Korea),

  • Svenska Aerogel Holding AB (Sweden),

  • CF Technologies (U.S.),

  • The Dow Chemical Company (U.S.),


Among the CF Technologies (U.S.), Cabot Corporation (U.S.), Aspen Aerogels Inc. (U.S), Aerogel Technologies (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Svenska Aerogel Holding AB (Sweden), JIOS Aerogel Corporation (Korea) and Ocellus Inc (U.S.) the majorly contributing key player is BASF SE (Germany).


Market Dynamics


The silica aerogel market is driven by many factors, and these factors are called the market drivers. But the aerogel market also faces some problems due to market restraints, but the market is trying its best to overcome the market challenges.


Drivers


One of the key drivers is the wide range of applications of aerogels in many sectors. The application of silica aerogel is the highest due to its cost-effectiveness, thermal insulation, and recyclable properties. Many Industries are adopting silica aerogel for their application. The application of silica aerogel in the construction and building sectors is one of the major drivers of the silica aerogel market. With time the construction work of Residential places, commercial places is increasing, and with it, the need for silica aerogel is also increasing, and it is boosting the growth of the silica aerogel market. Solid silica aerogel market price is low, and therefore it has a wide application in the oil and gas industry. The Increasing need for oil and gas will drive the silica aerogel market.  Apart from the growing need for silica aerogel in the automotive industry showing a positive impact on the growth of the silica aerogel market.


Opportunities


The demand for silica aerogel in end-user Industries such as oil & gas and energy & power will bring more opportunities for the market. The cost-effectiveness as the solid silica aerogel market price is low and recyclable properties of silica aerogel will have a positive impact on the market, and it will boost market opportunities. With the rise of construction and building sectors, the market will see positive growth in its demand.  The market key players will bring many opportunities for that market that will drive its growth in the forecast period.


Restraints


Even though there are many market drivers are present to drive the market growth, the silica market is hampered by some of the market restraints. One of the major restraints of the market is high production costs. Due to high production costs, the production of silica aerogel showing low growth over time. The lower price competitiveness also a major restraint of the market.


Challenges


The production of silica aerogel requires skills, and lack of skills in the production sector has become one of the major challenges for the market. The price involved in the production and the aerogel price is high, and it is one of the reasons behind the lack of growth in demand of the market. The key players and the market drivers are trying their best to increase the demand of the market in the coming years.


Cumulative growth analysis


The global aerogel market is expected to see rapid growth during the forecast period owing to the increasing demand for aerogel in many sectors such as construction, electronics, aerospace, oil & gas, and automotive. Due to the huge demand, the global aerogel market was valued at $701.0 million in 2019, and it is expected to reach $1,395.5 at the end of the year 2027.


Market segmentation


The silica market is divided on the basis of form, application, and region.



  • By form- The form type of the silica aerogel market is further carried out into monolith, panel, blanket, and others.

  • By application- The application segment of the market is further divided on the basis of building insulation, aerospace, oil & gas, healthcare, defense, automotive, and others.

  • By regions- The region segment of the market is divided into North America, Europe, Asia Pacific, and other regions.


Regional analysis


The major regions of the silica market are North America, Asia Pacific, Europe, and the rest of the world. All these regions have a huge demand for the silica market. Asia Pacific region is likely to dominate the market and is expected to grow at the highest CAGR during the forecast period. Countries such as India, China, and Japan are majorly contributing to the silica aerogel market growth in the Asia Pacific region. All these countries are showing rapid growth of urbanization that is attracting large and small vendors to invest in the market, and it is resulting in high market growth. Increasing infrastructure and the economy of people will also boost the market growth in this region.


North America is holding the second-highest market for silica aerogel, with a CAGR of 7.21% in the base year. The vast application of silica aerogel in defense, automotive, chemicals, and aerospace is driving the market in this region. The European region is also expected to see a growth in the silica aerogel market due to the advanced automotive industry in this region.


Recent developments


In September 2020, Aspen aerogels and BASF SE announced to grow their partnership by signing a supply agreement.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant value
  CAGR   2019–2027: Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Form, By Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), The Dow Chemical Company (U.S.), Cabot Corporation (U.S.), Aspen Aerogels Inc. (U.S), Aerogel Technologies (U.S.), JIOS Aerogel Corporation (Korea), Svenska Aerogel Holding AB (Sweden), CF Technologies (U.S.), and Ocellus Inc (U.S.)
  Key Market Opportunities   Silica aerogel possesses a number of properties such as enhanced thermal insulation, cost-effective, and recyclable.
  Key Market Drivers   The growing demand from the end-user industries.


Frequently Asked Questions (FAQ) :


The major regions in the aerogel market are North America, Asia Pacific, Europe, and other regions in the world.

The aerogel market was valued at $ 701 million in the year 2019.

Asia Pacific is growing at the highest CAGR rate in the market.

The CF Technologies (U.S.), Cabot Corporation (U.S.), Aspen Aerogels Inc. (U.S), Aerogel Technologies (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Svenska Aerogel Holding AB (Sweden), JIOS Aerogel Corporation (Korea) and Ocellus Inc (U.S.) are the major key players of the silica aerogel market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Silica Aerogel Market

5 Industry Overview of Global Silica Aerogel Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Silica Aerogel Market by Form

7.1 Introduction

7.2 Blanket

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Panel

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Monolith

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Others

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Silica Aerogel Market by Application

8.1 Introduction

8.2 Oil & Gas

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Building Insulation

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Automotive

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

8.5 Industrial Insulation

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Region, 2020-2027

8.6 Aerospace

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast by Region, 2020-2027

8.7 Others

8.7.1 Market Estimates & Forecast, 2020-2027

8.7.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Silica Aerogel Market by Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Form, 2020-2027

9.2.3 Market Estimates & Forecast by Application, 2020-2027

9.2.4 U.S.

9.2.4.1 Market Estimates & Forecast, 2020-2027

9.2.4.2 Market Estimates & Forecast by Form, 2020-2027

9.2.4.3 Market Estimates & Forecast by Application, 2020-2027

9.2.5 Mexico

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast by Form, 2020-2027

9.2.5.3 Market Estimates & Forecast by Application, 2020-2027

9.2.6 Canada

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast by Form, 2020-2027

9.2.6.3 Market Estimates & Forecast by Application, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Form, 2020-2027

9.3.3 Market Estimates & Forecast by Application, 2020-2027

9.3.4 Germany

9.3.4.1 Market Estimates & Forecast, 2020-2027

9.3.4.2 Market Estimates & Forecast by Form, 2020-2027

9.3.4.3 Market Estimates & Forecast by Application, 2020-2027

9.3.5 France

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast by Form, 2020-2027

9.3.5.3 Market Estimates & Forecast by Application, 2020-2027

9.3.6 Italy

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Form, 2020-2027

9.3.6.3 Market Estimates & Forecast by Application, 2020-2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Form, 2020-2027

9.3.7.3 Market Estimates & Forecast by Application, 2020-2027

9.3.8 U.K

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Form, 2020-2027

9.3.8.3 Market Estimates & Forecast by Application, 2020-2027

9.3.9 Rest of Europe

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Form, 2020-2027

9.3.9.3 Market Estimates & Forecast by Application, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Form, 2020-2027

9.4.3 Market Estimates & Forecast by Application, 2020-2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast by Form, 2020-2027

9.4.4.3 Market Estimates & Forecast by Application, 2020-2027

9.4.5 India

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast by Form, 2020-2027

9.4.5.3 Market Estimates & Forecast by Application, 2020-2027

9.4.6 Japan

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Form, 2020-2027

9.4.6.3 Market Estimates & Forecast by Application, 2020-2027

9.4.7 Australia

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Form, 2020-2027

9.4.7.3 Market Estimates & Forecast by Application, 2020-2027

9.4.8 New Zealand

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Form, 2020-2027

9.4.8.3 Market Estimates & Forecast by Application, 2020-2027

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast by Form, 2020-2027

9.4.9.3 Market Estimates & Forecast by Application, 2020-2027

9.5 The Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Form, 2020-2027

9.5.3 Market Estimates & Forecast by Application, 2020-2027

9.5.4 Turkey

9.5.4.1 Market Estimates & Forecast, 2020-2027

9.5.4.2 Market Estimates & Forecast by Form, 2020-2027

9.5.4.3 Market Estimates & Forecast by Application, 2020-2027

9.5.5 Israel

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast by Form, 2020-2027

9.5.5.3 Market Estimates & Forecast by Application, 2020-2027

9.5.6 North Africa

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast by Form, 2020-2027

9.5.6.3 Market Estimates & Forecast by Application, 2020-2027

9.5.7 GCC

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast by Form, 2020-2027

9.5.7.3 Market Estimates & Forecast by Application, 2020-2027

9.5.8 Rest of the Middle East & Africa

9.5.8.1 Market Estimates & Forecast, 2020-2027

9.5.8.2 Market Estimates & Forecast by Form, 2020-2027

9.5.8.3 Market Estimates & Forecast by Application, 2020-2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Form, 2020-2027

9.6.3 Market Estimates & Forecast by Application, 2020-2027

9.6.4 Brazil

9.6.4.1 Market Estimates & Forecast, 2020-2027

9.6.4.2 Market Estimates & Forecast by Form, 2020-2027

9.6.4.3 Market Estimates & Forecast by Application, 2020-2027

9.6.5 Argentina

9.6.5.1 Market Estimates & Forecast, 2020-2027

9.6.5.2 Market Estimates & Forecast by Form, 2020-2027

9.6.5.3 Market Estimates & Forecast by Application, 2020-2027

9.6.6 Rest of Latin America

9.6.6.1 Market Estimates & Forecast, 2020-2027

9.6.6.2 Market Estimates & Forecast by Form, 2020-2027

9.6.6.3 Market Estimates & Forecast by Application, 2020-2027

10. Company Landscape

11. Company Profiles

11.1 BASF SE

11.1.1 Company Overview

11.1.2 Form/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 The Dow Chemical Company

11.2.1 Company Overview

11.2.2 Form/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 Cabot Corporation

11.3.1 Company Overview

11.3.2 Form/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 Aspen Aerogels Inc

11.4.1 Company Overview

11.4.2 Form/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 Aerogel Technologies

11.5.1 Company Overview

11.5.2 Form/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 JIOS Aerogel Corporation

11.6.1 Company Overview

11.6.2 Form/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 Svenska Aerogel Holding AB

11.7.1 Company Overview

11.7.2 Form/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

11.8 CF Technologies

11.8.1 Company Overview

11.8.2 Form/Business Segment Overview

11.8.3 Financial Updates

11.8.4 Key Developments

11.9 Ocellus Inc

11.9.1 Company Overview

11.9.2 Form/Business Segment Overview

11.9.3 Financial Updates

11.9.4 Key Developments

12 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2016 To 2030)

Table 2 Global Silica Aerogel Market: By Region, 2020-2027

Table 3 North America Silica Aerogel Market: By Country, 2020-2027

Table 4 Europe Silica Aerogel Market: By Country, 2020-2027

Table 5 Asia-Pacific Silica Aerogel Market: By Country, 2020-2027

Table 7 Middle East & Africa Silica Aerogel Market: By Country, 2020-2027

Table 6 Latin America Silica Aerogel Market: By Country, 2020-2027

Table 8 Global Silica Aerogel by Form Market: By Regions, 2020-2027

Table 9 North America Silica Aerogel by Form Market: By Country, 2020-2027

Table 10 Europe Silica Aerogel by Form Market: By Country, 2020-2027

Table11 Asia-Pacific Silica Aerogel by Form Market: By Country, 2020-2027

Table13 Middle East & Africa Silica Aerogel by Form Market: By Country, 2020-2027

Table12 Latin America Silica Aerogel by Form Market: By Country, 2020-2027

Table14 North America Silica Aerogel by Application Market: By Country, 2020-2027

Table13 Europe Silica Aerogel by Application Market: By Country, 2020-2027

Table14 Asia-Pacific Silica Aerogel by Application Market: By Country, 2020-2027

Table16 Middle East & Africa Silica Aerogel by Application Market: By Country, 2020-2027

Table15 Latin America Silica Aerogel by Application Market: By Country, 2020-2027

Table23 Global Forms Market: By Region, 2020-2027

Table24 Global Application Market: By Region, 2020-2027

Table25 North America Silica Aerogel Market, By Country

Table26 North America Silica Aerogel Market, By Form

Table27 North America Silica Aerogel Market, By Application

Table28 Europe: Silica Aerogel Market, By Country

Table29 Europe: Silica Aerogel Market, By Form

Table30 Europe: Silica Aerogel Market, By Application

Table31 Asia-Pacific: Silica Aerogel Market, By Country

Table32 Asia-Pacific: Silica Aerogel Market, By Form

Table33 Asia-Pacific: Silica Aerogel Market, By Application

Table36 Middle East & Africa: Silica Aerogel Market, By Country

Table37 Middle East & Africa Silica Aerogel Market, By Form

Table33 Middle East & Africa: Silica Aerogel Market, By Application

Table34 Latin America: Silica Aerogel Market, By Country

Table35 Latin America Silica Aerogel Market, By Form

Table33 Latin America: Silica Aerogel Market, By Application

LIST OF FIGURES

FIGURE 1 Global Silica Aerogel market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Silica Aerogel Market

FIGURE 4 Value Chain of Global Silica Aerogel Market

FIGURE 5 Share of Global Silica Aerogel Market in 2017, by country (in %)

FIGURE 6 Global Silica Aerogel Market, 2020-2027,

FIGURE 7 Sub segments of Form

FIGURE 8 Global Silica Aerogel Market size by Form, 2017

FIGURE 9 Share of Global Silica Aerogel Market by Form, 2020-2027

FIGURE 10 Global Silica Aerogel Market size by Application, 2017

FIGURE 11 Share of Global Silica Aerogel Market by Application, 2020-2027