Production within the global aerogel market is expected to grow from 3,750 metric tons in 2010 to 70,000 metric tons by 2017, at an estimated compound annual growth rate (CAGR) of 52%. As of 2011, North America leads the way for production within the aerogel market, through a share of 57%, followed by Europe (42%) and Asia (1%).
The North American region is expected to continue its dominance for production within the aerogel market, driven primarily by the steady growth of aerogel production and research initiatives in the US, while Germany will lead the European market for aerogel production.
Production within the global aerogel market is predominantly divided between two countries, the US and Germany and they account for 57% and 40% market share respectively.
Aerogels are the world's lightest solid materials, composed of up to 99.98% air by volume. Aerogels are a diverse class of amazing materials with properties unlike anything else.
The major players in the industry are Aspen Aerogel (US), an energy efficiency company that designs, develops and manufactures innovative, high-performance aerogel insulation. Cabot Corp. (US), a specialty chemicals and performance materials company which operates in four segments: the Carbon Black Business, the Metal Oxides Business, the Supermetals Business, and the Specialty Fluids Business, and Dow Chemicals (US), a leader in specialty chemicals delivering products and solutions to sectors such as electronics, water, energy, and coatings.
The aerogel market is segmented in to three geographies, namely North America, Europe and Asia. The aerogel market by application is segmented into five major applications: building insulation, oil and gas, aerospace, automotive, industry and cryogenics.
For more information on the aerogel market, see the latest research: Aerogel Market Report
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