Europe Aerogel Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Aerogel Market Analysis
The European aerogel market is projected to register a CAGR of over 6% during the forecast period.
The market growth is majorly attributed to increasing demand from the oil and gas industry. Due to COVID-19, the oil and gas industry was negatively affected, and oil prices plunged. Lockdowns, international travel bans, and less transportation reduced the consumption of oil, and thus, the demand for aerogel decreased. In 2022, the growth of the oil and gas industry reached pre-pandemic levels. With this, the aerogel market recovered from the pandemic and is growing at a significant rate during the forecast period.
- Over the short term, the adoption of lighter and thinner alternatives to conventional insulations due to their reusability and recyclability properties is expected to stimulate market growth.
- However, the high cost of production is expected to hinder the regional market growth.
- Nevertheless, increasing demand for aerogels from aerospace and electric vehicle supercapacitors industries will act as a growth opportunity for the market.
Europe Aerogel Market Trends
This section covers the major market trends shaping the Europe Aerogel Market according to our research experts:
Growing Demand from the Construction Industry
- Aerogels find wide application usage in building insulation. Aerogel blankets or sheets are used to insulate the exterior and interior of the walls. Furthermore, due to its moisture resistance property, it also makes a perfect choice for damp walls.
- The rise in the construction industry is expected to boost the demand for aerogel thermal insulation materials used in new constructions. The increasing demand for new constructions in the United Kingdom, Germany, France, and Italy is expected to drive the regional market.
- In the third quarter of 2021, the United Kingdom announced an investment of USD 333 million and the construction of a 40-story residential tower and a 14-story office building at Albion Street in Central Manchester, with estimated completion by 2024. According to the Office for National Statistics (United Kingdom), annual construction output increased by a record 12.7% in 2021.
- Increased government spending and increasing demand for construction projects are expected to augment the market growth. For instance, the French government sanctioned around USD 3.3 billion for the construction of the Hermitage towers for hosting the 2024 Olympics. The construction of the towers is scheduled to be complete by 2024.
- Also, the German government initiated the construction of the Digital Park Fechenheim on a 10.7 ha area, with a gross floor area of 100,000 square meters in Frankfurt-Fechenheim, Hesse, Germany, with an investment of USD 1,179 million. The construction work started in Q3 2021 and is expected to be complete in Q4 2028.
- Additionally, in Germany, the turnover in building completion work increased by 9.1% in the third quarter of 2021 compared to the third quarter of the previous year, as reported by the Federal Statistical Office (Destatis).
- Overall, the growing construction market across the region is expected to drive the aerogel market during the forecast period.
United Kingdom to Dominate the Market
- The UK aerogel market is experiencing a surge in demand from the electric vehicles, construction, oil and gas, and aerospace industries.
- Properties, such as low density, thermal conductivity, and refractive index, make silica aerogel an ideal material for supercapacitors. In electric vehicles, supercapacitors are used for achieving high power in a short time. Energy from braking is stored in supercapacitors and released for quick acceleration.
- Aerogel blankets are used in deep-sea pipeline insulation in the oil and gas industries. The UK's oil and gas sector is dominated by production from offshore areas, whereas deep water pipelines play a vital role in transferring oil and gas from offshore to onshore refineries. In 2022, the UK Oil & Gas Authority (OCA) announced a production expansion by issuing new North Sea offshore oil & gas licenses.
- The use of silica aerogel in the aerospace industry is rapidly growing due to its exceptional insulation and lightweight characteristics. The UK aerospace industry is the second largest in the world and the largest in the European region. According to the International Trade Administration in 2021, the United Kingdom's civil aerospace turnover totaled approximately USD 32 billion, thus boosting the silica aerogel demand.
- Considering all the above-mentioned factors, the increase in demand for aerogel in the United Kingdom is expected to grow during the forecast period.
Europe Aerogel Industry Overview
The European aerogel market is partially consolidated in nature. Some of the major players in the market include Aerogel Technologies, BASF SE, Cabot Corporation, Green Earth Aerogel Technologies, Svenska Aerogel AB, Aspen Aerogels Inc., and others.
Europe Aerogel Market Leaders
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Aspen Aerogels Inc.
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BASF SE
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Cabot Corporation
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Green Earth Aerogel Technologies
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Svenska Aerogel AB
*Disclaimer: Major Players sorted in no particular order
Europe Aerogel Market News
- October 2022: Spain and France announced building 226 long underwater gas pipelines. This was the latest development after the Ukraine-Russia war and Russian gas supply issues in 2022. The new project will boost aerogel blankets for pipeline thermal insulation.
- April 2022: Alkegen introduced AlkeGel, flexible next-generation aerogel material for electric vehicles. AlkeGel, with low thermal conductivity, is designed for EV thermal management and fire protection.
Europe Aerogel Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Adoption of Lighter and Thinner Alternatives to Conventional Insulations
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4.2 Restraints
- 4.2.1 High Cost of Production
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 By Type
- 5.1.1 Silica
- 5.1.2 Carbon
- 5.1.3 Alumina
- 5.1.4 Other Types
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5.2 By Form
- 5.2.1 Blanket
- 5.2.2 Particles
- 5.2.3 Blocks
- 5.2.4 Panels
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5.3 By End-user Industries
- 5.3.1 Industrial
- 5.3.1.1 Building and Construction
- 5.3.1.2 Automotive
- 5.3.1.3 Electrical and Electronics
- 5.3.1.4 Textiles
- 5.3.2 Marine
- 5.3.3 Oil and Gas
- 5.3.4 Other End-user Industries
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5.4 By Geography
- 5.4.1 Germany
- 5.4.2 United Kingdom
- 5.4.3 Italy
- 5.4.4 France
- 5.4.5 Spain
- 5.4.6 NORDIC Countries
- 5.4.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Aerogel UK Ltd
- 6.4.2 Aerogel-it GmbH
- 6.4.3 BASF SE
- 6.4.4 Cabot Corporation
- 6.4.5 Earth Green Aerogels
- 6.4.6 ENERSENS
- 6.4.7 KEEY Aerogel
- 6.4.8 SVENSKA AEROGEL AB
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of a New Silica Aerogel-Polypropylene Foam Composite
Europe Aerogel Industry Segmentation
Aerogel is a synthetic, porous, gel-derived ultralight material in which the liquid component of the gel is replaced by a gas without significant collapse of the gel structure. The result is a solid with extremely low thermal conductivity and extremely low density. Aerogels are the world's lightest solid materials, composed of up to 99.98% air by volume. The European aerogel market is segmented by type, form, end-user industry, and geography. By type, the market is segmented into silica, carbon, alumina, and other types. By form, the market is segmented into blankets, particles, blocks, and panels. By end-user industry, the market is segmented into industrial, oil and gas, marine, and other end-user industries. By Geography, the market is segmented into Germany, United Kingdom, Italy, France, Spain, NORDIC Countries, and Rest of Europe. The report covers the market size and forecasts for five countries across the European region. For each segment, the market sizing and forecasts have been provided on the basis of value (USD Million).
| By Type | Silica | |
| Carbon | ||
| Alumina | ||
| Other Types | ||
| By Form | Blanket | |
| Particles | ||
| Blocks | ||
| Panels | ||
| By End-user Industries | Industrial | Building and Construction |
| Automotive | ||
| Electrical and Electronics | ||
| Textiles | ||
| By End-user Industries | Marine | |
| Oil and Gas | ||
| Other End-user Industries | ||
| By Geography | Germany | |
| United Kingdom | ||
| Italy | ||
| France | ||
| Spain | ||
| NORDIC Countries | ||
| Rest of Europe |
Europe Aerogel Market Research FAQs
What is the current Europe Aerogel Market size?
The Europe Aerogel Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Europe Aerogel Market?
Aspen Aerogels Inc. , BASF SE , Cabot Corporation , Green Earth Aerogel Technologies and Svenska Aerogel AB are the major companies operating in the Europe Aerogel Market.
What years does this Europe Aerogel Market cover?
The report covers the Europe Aerogel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Aerogel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Aerogel Industry Report
Statistics for the 2024 Europe Aerogel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Aerogel analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
