Europe Aerogel Market Size (2024 - 2029)

The European aerogel market is anticipated to experience significant growth, driven by the recovery and expansion of the oil and gas industry post-pandemic. The market's expansion is further supported by the increasing preference for lighter and thinner insulation alternatives, which offer reusability and recyclability benefits. Despite the challenge posed by high production costs, the demand for aerogels in the aerospace and electric vehicle supercapacitor sectors presents promising opportunities for market growth.

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Market Size of Europe Aerogel Industry

Europe Aerogels Market - Market Summary
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

Europe Aerogel Market 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 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
Marine
Oil and Gas
Other End-user Industries
By Geography
Germany
United Kingdom
Italy
France
Spain
NORDIC Countries
Rest of Europe
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Europe Aerogel Market Size Summary

The European aerogel market is poised for significant growth, driven primarily by the resurgence of the oil and gas industry, which has rebounded to pre-pandemic levels. This recovery has spurred demand for aerogels, particularly in applications such as deep-sea pipeline insulation. The market is also benefiting from the increasing adoption of aerogels in aerospace and electric vehicle supercapacitors, where their lightweight and insulating properties are highly valued. Despite the high cost of production posing a challenge, the market is expected to expand as industries seek more efficient and sustainable insulation solutions. The construction sector's growth, particularly in countries like the United Kingdom, Germany, France, and Italy, further supports the demand for aerogel thermal insulation materials, as these are increasingly used in new building projects.

In the United Kingdom, the aerogel market is experiencing a surge in demand across various sectors, including electric vehicles, construction, oil and gas, and aerospace. The unique properties of silica aerogel, such as low density and thermal conductivity, make it an ideal choice for supercapacitors in electric vehicles, enhancing performance through efficient energy storage. The UK's oil and gas sector, with its focus on offshore production and pipeline insulation, also contributes to the market's growth. Additionally, the aerospace industry, being a significant player in the region, drives demand for aerogels due to their exceptional insulation and lightweight characteristics. The market is partially consolidated, with key players like Aerogel Technologies, BASF SE, and Cabot Corporation leading the charge in innovation and development. Recent projects, such as the construction of underwater gas pipelines and the introduction of next-generation aerogel materials for electric vehicles, highlight the ongoing advancements and opportunities within the European aerogel market.

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Europe Aerogel Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Adoption of Lighter and Thinner Alternatives to Conventional Insulations

    2. 1.2 Restraints

      1. 1.2.1 High Cost of Production

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 By Type

      1. 2.1.1 Silica

      2. 2.1.2 Carbon

      3. 2.1.3 Alumina

      4. 2.1.4 Other Types

    2. 2.2 By Form

      1. 2.2.1 Blanket

      2. 2.2.2 Particles

      3. 2.2.3 Blocks

      4. 2.2.4 Panels

    3. 2.3 By End-user Industries

      1. 2.3.1 Industrial

        1. 2.3.1.1 Building and Construction

        2. 2.3.1.2 Automotive

        3. 2.3.1.3 Electrical and Electronics

        4. 2.3.1.4 Textiles

      2. 2.3.2 Marine

      3. 2.3.3 Oil and Gas

      4. 2.3.4 Other End-user Industries

    4. 2.4 By Geography

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 Italy

      4. 2.4.4 France

      5. 2.4.5 Spain

      6. 2.4.6 NORDIC Countries

      7. 2.4.7 Rest of Europe

Europe Aerogel Market Size FAQs

The Europe Aerogel Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

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.

Europe Aerogel Report Snapshots

Europe Aerogel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)