Table of Content

1 INTRODUCTION 27
1.1 OBJECTIVES OF THE STUDY 27
1.2 MARKET DEFINITION 27
1.2.1 AEROGEL MARKET: INCLUSIONS & EXCLUSIONS 27
1.2.2 AEROGEL: MARKET DEFINITION AND INCLUSIONS, BY TYPE 27
1.2.3 AEROGEL: MARKET DEFINITION AND INCLUSIONS, BY FORM 28
1.2.4 AEROGEL: MARKET DEFINITION AND INCLUSIONS, BY PROCESSING 28
1.2.5 AEROGEL: MARKET DEFINITION AND INCLUSIONS, BY APPLICATION 28
1.3 MARKET SCOPE 29
1.3.1 YEARS CONSIDERED FOR THE STUDY 30
1.4 CURRENCY 30
1.5 UNIT CONSIDERED 30
1.6 STAKEHOLDERS 30
1.7 SUMMARY OF CHANGES 31

2 RESEARCH METHODOLOGY 32
2.1 BASE NUMBER CALCULATION 32
2.1.1 SUPPLY-SIDE APPROACH 32
2.1.2 DEMAND-SIDE APPROACH 32
2.2 FORECAST NUMBER CALCULATION 33
2.2.1 SUPPLY SIDE 33
2.2.2 DEMAND SIDE 33
2.3 RESEARCH DATA 34
2.3.1 SECONDARY DATA 34
2.3.2 PRIMARY DATA 34
2.3.2.1 Primary interviews – demand and supply side 34
2.3.2.2 Breakdown of primary interviews 35
2.3.2.3 Key industry insights 35
2.4 MARKET SIZE ESTIMATION 36
2.4.1 BOTTOM-UP APPROACH 36
FIGURE 1 AEROGEL MARKET: BOTTOM-UP APPROACH 36
2.4.2 TOP-DOWN APPROACH 36
FIGURE 2 AEROGEL MARKET: TOP-DOWN APPROACH 36
2.5 DATA TRIANGULATION 37
FIGURE 3 AEROGEL MARKET: DATA TRIANGULATION 37
2.6 FACTOR ANALYSIS 38
FIGURE 4 COVID-19 FACTORS IMPACTING GROWTH OF AEROGEL MARKET 38
2.7 ASSUMPTIONS 38
2.8 LIMITATIONS & RISKS ASSOCIATED WITH AEROGEL MARKET 39

3 EXECUTIVE SUMMARY 40
FIGURE 5 SILICA SEGMENT TO LEAD AEROGEL MARKET 41
FIGURE 6 OIL & GAS TO DOMINATE AEROGEL MARKET DURING FORECAST PERIOD 41
FIGURE 7 PARTICLE TO BE THE FASTEST-GROWING SEGMENT OF AEROGEL
MARKET DURING FORECAST PERIOD 42
FIGURE 8 ASIA PACIFIC TO BE FASTEST-GROWING AEROGEL MARKET BETWEEN
2020 AND 2025 43

4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES IN THE AEROGEL MARKET 44
FIGURE 9 AEROGEL MARKET TO REGISTER HIGH CAGR BETWEEN 2020 AND 2025 44
4.2 AEROGEL MARKET, BY PROCESSING 44
FIGURE 10 COMPOSITE TO BE FASTEST-GROWING SEGMENT DURING THE
FORECAST PERIOD 44
4.3 NORTH AMERICA: AEROGEL MARKET, BY APPLICATION AND COUNTRY 45
FIGURE 11 US ACCOUNTED FOR THE LARGEST SHARE IN NORTH AMERICAN
AEROGEL MARKET IN 2019 45
4.4 AEROGEL MARKET SHARE, BY APPLICATION 45
FIGURE 12 OIL & GAS SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019 45
4.5 AEROGEL MARKET GROWTH, BY REGION 46
FIGURE 13 ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 46
4.6 AEROGEL MARKET ATTRACTIVENESS, BY KEY COUNTRIES 46
FIGURE 14 COUNTRIES IN ASIA PACIFIC REGION TO WITNESS HIGH GROWTH
BETWEEN 2020 AND 2025 46

5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
FIGURE 15 DRIVERS, RESTRAINTS, AND OPPORTUNITIES IN AEROGEL MARKET 47
5.2.1 DRIVERS 48
5.2.1.1 Superior thermal resistance 48
TABLE 1 THERMAL CONDUCTIVITY OF DIFFERENT INSULATION MATERIALS 48
5.2.1.2 Thinner and lighter alternative 48
5.2.1.3 Environment-friendly material 49
5.2.1.4 Demand from construction application 49
5.2.2 RESTRAINTS 49
5.2.2.1 High manufacturing costs 49
5.2.2.2 Poor mechanical strength 50
5.2.3 OPPORTUNITIES 50
5.2.3.1 Potential substitute for conventional insulation materials 50
5.2.3.2 New applications in apparel market 50
5.2.3.3 Growing applications in day-lighting segment 51
TABLE 2 DAY-LIGHTING: SYSTEMS AND BENEFITS OF AEROGEL 51
5.2.3.4 Growing demand from aviation industry 52
5.2.3.5 Enormous demand from LVHS segment 52
5.3 PORTER’S FIVE FORCES ANALYSIS 52
FIGURE 16 PORTER’S FIVE FORCES ANALYSIS 53
5.3.1 THREAT OF NEW ENTRANTS 53
5.3.2 THREAT OF SUBSTITUTES 54
5.3.3 BARGAINING POWER OF SUPPLIERS 54
5.3.4 BARGAINING POWER OF BUYERS 54
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 54
5.4 SUPPLY CHAIN ANALYSIS 55
FIGURE 17 AEROGEL MARKET: SUPPLY CHAIN ANALYSIS 55
5.5 PRICE ANALYSIS OF AEROGEL 55
FIGURE 18 PRICE ANALYSIS OF AEROGEL 56
5.6 AEROGEL MARKET SCENARIOS, 2018-2025 56
FIGURE 19 AEROGEL MARKET: REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 56
5.7 PATENT ANALYSIS 57
5.7.1 APPROACH 57
5.7.2 DOCUMENT TYPE 57
FIGURE 20 PATENTS REGISTERED FOR AEROGEL, 2015-2020 57
FIGURE 21 PATENTS PUBLICATION TRENDS FOR AEROGEL, 2015-2020 58
5.7.3 JURISDICTION ANALYSIS 58
FIGURE 22 MAXIMUM PATENTS FILED BY COMPANIES IN CHINA 58
5.7.4 TOP APPLICANTS 59
FIGURE 23 LG CHEMICAL LTD. REGISTERED MAXIMUM NUMBER OF PATENTS
BETWEEN 2015 AND 2020 59
5.8 AEROGEL: ECOSYSTEM 61
FIGURE 24 AEROGEL MARKET ECOSYSTEM 61
5.9 CHANGE IN INDUSTRY SHIFT IMPACTING FUTURE REVENUE MIX 62
5.10 MACROECONOMIC OVERVIEW 62
5.10.1 OIL & GAS 62
TABLE 3 OIL PRODUCTION IN ASIA PACIFIC, 2019 (000’BARREL/DAY) 63
TABLE 4 OIL PRODUCTION IN NORTH AMERICA, 2019 (000’BARREL/DAY) 63
TABLE 5 OIL PRODUCTION IN EUROPE, 2019 (000’BARREL/DAY) 63
TABLE 6 OIL PRODUCTION IN SOUTH AMERICA, 2019 (000’BARREL/DAY) 64
TABLE 7 OIL PRODUCTION IN MIDDLE EAST & AFRICA, 2019 (000’BARREL/DAY) 64
5.10.2 AUTOMOTIVE 64
TABLE 8 MOTOR VEHICLE PRODUCTION, 2019 (UNITS) 65
5.11 CASE STUDIES 65
5.12 REGULATORY FRAMEWORK 66
5.12.1 COMPLIANCE IMPOSED ON AEROGEL PRODUCTS IMPORTED FROM
CHINA BY US 66
5.12.2 ADVISORY CIRCULAR FROM FEDERAL AVIATION ADMIRATION, US 66
5.12.3 EU REACH CHEMICAL POLICY: AEROGEL 66
5.13 TRADE DATA STATISTICS 66
5.13.1 IMPORT OF AEROGEL: INDIA 66
5.13.2 IMPORT OF AEROGEL: BRAZIL 67
5.14 TECHNOLOGY ANALYSIS 69
5.14.1 SOL-GEL PROCESS 69
5.14.2 NANO COMPOSITING 69
5.14.3 SUPER CRITICAL DRYING 69
5.14.4 STELMOR PROCESS 69
5.15 COVID-19 IMPACT 69
5.15.1 INTRODUCTION 69
5.15.2 COVID-19 HEALTH ASSESSMENT 70
FIGURE 25 COUNTRY-WISE SPREAD OF COVID-19 70
5.15.3 COVID-19 ECONOMIC ASSESSMENT 70
FIGURE 26 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020 71
5.15.3.1 Impact of COVID-19 on economy?scenario assessment 71
FIGURE 27 CRITERIA IMPACTING GLOBAL ECONOMY 72
FIGURE 28 SCENARIOS OF COVID-19 IMPACT 73

6 AEROGEL MARKET, BY TYPE 75
6.1 INTRODUCTION 76
FIGURE 29 SILICA SEGMENT TO DOMINATE AEROGEL MARKET DURING
THE FORECAST PERIOD 76
TABLE 9 AEROGEL MARKET SIZE, BY TYPE, 2016-2019 (USD MILLION) 76
TABLE 10 AEROGEL MARKET SIZE, BY TYPE, 2020–2025 (USD MILLION) 77
TABLE 11 AEROGEL MARKET SIZE, BY TYPE, 2016-2019 (TON) 77
TABLE 12 AEROGEL MARKET SIZE, BY TYPE, 2020–2025 (TON) 78
6.2 SILICA AEROGEL 78
TABLE 13 PROPERTIES OF SILICA AEROGEL 78
6.3 POLYMER AEROGEL 79
TABLE 14 PROPERTIES OF ORGANIC POLYMER AEROGEL 79
TABLE 15 BENEFITS AND APPLICATIONS OF POLYIMIDE AEROGEL 79
6.4 CARBON AEROGEL 80
TABLE 16 PROPERTIES OF CARBON AEROGEL 80
6.5 OTHERS 80
TABLE 17 OTHER TYPES OF AEROGEL 80
6.5.1 METAL OXIDE AEROGEL 81
TABLE 18 COLORS OF METAL OXIDE AEROGELS 81
TABLE 19 PROPERTIES OF METAL OXIDE AEROGEL 81
6.5.2 METAL CHALCOGENIDES AEROGELS 82
TABLE 20 PROPERTIES OF METAL CHALCOGENIDE AEROGEL 82
6.5.3 METAL AEROGEL 82
TABLE 21 PROPERTIES OF METAL AEROGEL 82
7 AEROGEL MARKET, BY FORM 83
7.1 INTRODUCTION 84
FIGURE 30 PARTICLE SEGMENT TO WITNESS HIGHEST CAGR DURING
THE FORECAST PERIOD 84
TABLE 22 AEROGEL MARKET SIZE, BY FORM, 2016-2019 (USD MILLION) 84
TABLE 23 AEROGEL MARKET SIZE, BY FORM, 2020–2025 (USD MILLION) 84
TABLE 24 AEROGEL MARKET SIZE, BY FORM, 2016-2019 (TON) 85
TABLE 25 AEROGEL MARKET SIZE, BY FORM, 2020–2025 (TON) 85
7.2 BLANKET 85
TABLE 26 ADVANTAGES OF AEROGEL BLANKET FORM 86
7.3 PARTICLE 86
7.4 PANEL 86
TABLE 27 ADVANTAGES OF AEROGEL PANEL FORM 87
7.5 MONOLITH 87
8 AEROGEL MARKET, BY PROCESSING 88
8.1 INTRODUCTION 89
FIGURE 31 AS MANUFACTURED (VIRGIN AEROGEL) SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING THE FORECAST PERIOD 89
TABLE 28 AEROGEL MARKET SIZE, BY PROCESSING, 2016-2019 (USD MILLION) 89
TABLE 29 AEROGEL MARKET SIZE, BY PROCESSING, 2020–2025 (USD MILLION) 89
TABLE 30 AEROGEL MARKET SIZE, BY PROCESSING, 2016-2019 (TON) 90
TABLE 31 AEROGEL MARKET SIZE, BY PROCESSING, 2020–2025 (TON) 90
8.2 AS MANUFACTURED (VIRGIN AEROGELS) 91
8.3 COMPOSITES 91
8.4 ADDITIVES 91
9 AEROGEL MARKET, BY APPLICATION 92
9.1 INTRODUCTION 93
FIGURE 32 OIL & GAS APPLICATION TO DOMINATE THE AEROGEL MARKET DURING
THE FORECAST PERIOD 93
TABLE 32 AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (USD MILLION) 93
TABLE 33 AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION) 94
TABLE 34 AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 95
TABLE 35 AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 95
9.2 OIL & GAS 95
TABLE 36 ADVANTAGES OF AEROGEL IN OIL & GAS APPLICATION 96
FIGURE 33 NORTH AMERICA TO BE THE LARGEST AEROGEL MARKET IN OIL
& GAS APPLICATION DURING THE FORECAST PERIOD 96
TABLE 37 AEROGEL MARKET SIZE IN OIL & GAS, BY REGION,
2016-2019 (USD MILLION) 96
TABLE 38 AEROGEL MARKET SIZE IN OIL & GAS, BY REGION,
2020–2025 (USD MILLION) 97
TABLE 39 AEROGEL MARKET SIZE IN OIL & GAS, BY REGION, 2016-2019 (TON) 97
TABLE 40 AEROGEL MARKET SIZE IN OIL & GAS, BY REGION, 2020–2025 (TON) 97
9.3 CONSTRUCTION 98
TABLE 41 ADVANTAGES OF AEROGEL IN CONSTRUCTION APPLICATION 98
FIGURE 34 ASIA PACIFIC TO BE THE FASTEST-GROWING AEROGEL MARKET
IN CONSTRUCTION APPLICATION 99
TABLE 42 AEROGEL MARKET SIZE IN CONSTRUCTION, BY REGION,
2016-2019 (USD MILLION) 99
TABLE 43 AEROGEL MARKET SIZE IN CONSTRUCTION, BY REGION,
2020–2025 (USD MILLION) 99
TABLE 44 AEROGEL MARKET SIZE IN CONSTRUCTION, BY REGION, 2016-2019 (TON) 100
TABLE 45 AEROGEL MARKET SIZE IN CONSTRUCTION, BY REGION, 2020–2025 (TON) 100
9.4 TRANSPORTATION 100
9.4.1 AEROSPACE 100
9.4.2 AUTOMOTIVE 101
9.4.3 MARINE 101
TABLE 46 AEROGEL APPLICATIONS IN TRANSPORTATION 101
FIGURE 35 EUROPE TO BE SECOND-LARGEST AEROGEL MARKET IN TRANSPORTATION APPLICATION DURING 102
TABLE 47 AEROGEL MARKET SIZE IN TRANSPORTATION, BY REGION,
2016-2019 (USD MILLION) 102
TABLE 48 AEROGEL MARKET SIZE IN TRANSPORTATION, BY REGION,
2020–2025 (USD MILLION) 102
TABLE 49 AEROGEL MARKET SIZE IN TRANSPORTATION, BY REGION, 2016-2019 (TON) 103
TABLE 50 AEROGEL MARKET SIZE IN TRANSPORTATION, BY REGION, 2020–2025 (TON) 103
9.5 PERFORMANCE COATING 103
FIGURE 36 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE IN AEROGEL MARKET
IN PERFORMANCE COATING APPLICATION 104
TABLE 51 AEROGEL MARKET SIZE IN PERFORMANCE COATING, BY REGION,
2016-2019 (USD MILLION) 104
TABLE 52 AEROGEL MARKET SIZE IN PERFORMANCE COATING, BY REGION,
2020–2025 (USD MILLION) 104
TABLE 53 AEROGEL MARKET SIZE IN PERFORMANCE COATING, BY REGION,
2016-2019 (TON) 105
TABLE 54 AEROGEL MARKET SIZE IN PERFORMANCE COATING, BY REGION,
2020–2025 (TON) 105
9.6 DAY-LIGHTING & LVHS 105
FIGURE 37 EUROPE TO BE SECOND-LARGEST AEROGEL MARKET IN DAY-LIGHTING
& LVHS APPLICATION 106
TABLE 55 AEROGEL MARKET SIZE IN DAY-LIGHTING & LVHS, BY REGION,
2016-2019 (USD MILLION) 106
TABLE 56 AEROGEL MARKET SIZE IN DAY-LIGHTING & LVHS, BY REGION,
2020–2025 (USD MILLION) 106
TABLE 57 AEROGEL MARKET SIZE IN DAY-LIGHTING & LVHS, BY REGION,
2016-2019 (TON) 107
TABLE 58 AEROGEL MARKET SIZE IN DAY-LIGHTING & LVHS, BY REGION,
2020–2025 (TON) 107
9.7 OTHERS 107
FIGURE 38 EUROPE ACCOUNTED FOR SECOND LARGEST SHARE IN AEROGEL MARKET FOR OTHER APPLICATIONS 108
TABLE 59 AEROGEL MARKET SIZE IN OTHER APPLICATIONS, BY REGION,
2016-2019 (USD MILLION) 108
TABLE 60 AEROGEL MARKET SIZE IN OTHER APPLICATIONS, BY REGION,
2020–2025 (USD MILLION) 108
TABLE 61 AEROGEL MARKET SIZE IN OTHER APPLICATIONS, BY REGION,
2016-2019 (TON) 109
TABLE 62 AEROGEL MARKET SIZE IN OTHER APPLICATIONS, BY REGION,
2020–2025 (TON) 109

10 AEROGEL MARKET, BY REGION 110
10.1 INTRODUCTION 111
FIGURE 39 NORTH AMERICA TO DOMINATE AEROGEL MARKET DURING
THE FORECAST PERIOD 111
TABLE 63 AEROGEL MARKET SIZE, BY REGION, 2016-2019 (USD MILLION) 111
TABLE 64 AEROGEL MARKET SIZE, BY REGION, 2020–2025 (USD MILLION) 111
TABLE 65 AEROGEL MARKET SIZE, BY REGION, 2016-2019 (TON) 112
TABLE 66 AEROGEL MARKET SIZE, BY REGION, 2020–2025 (TON) 112
10.2 NORTH AMERICA 113
FIGURE 40 NORTH AMERICA AEROGEL MARKET: SNAPSHOT 113
TABLE 67 NORTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY,
2016-2019 (USD MILLION) 113
TABLE 68 NORTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY,
2020–2025 (USD MILLION) 114
TABLE 69 NORTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY, 2016-2019 (TON) 114
TABLE 70 NORTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY, 2020–2025 (TON) 114
TABLE 71 NORTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD MILLION) 115
TABLE 72 NORTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 115
TABLE 73 NORTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (TON) 116
TABLE 74 NORTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (TON) 116
10.2.1 US 116
10.2.1.1 Emergence of electric vehicle to increase demand for aerogels 116
TABLE 75 US AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (USD THOUSAND) 116
TABLE 76 US AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (USD THOUSAND) 117
TABLE 77 US AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 117
TABLE 78 US AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 118
10.2.2 CANADA 118
10.2.2.1 Cold climatic condition to support market growth in
different applications 118
TABLE 79 CANADA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 118
TABLE 80 CANADA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 118
TABLE 81 CANADA AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 119
TABLE 82 CANADA AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 119
10.2.3 MEXICO 120
10.2.3.1 Developing automotive industry to propel aerogel market 120
TABLE 83 MEXICO AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 120
TABLE 84 MEXICO AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 120
TABLE 85 MEXICO AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 121
TABLE 86 MEXICO AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 121
10.3 ASIA PACIFIC 121
FIGURE 41 ASIA PACIFIC AEROGEL MARKET: SNAPSHOT 122
TABLE 87 ASIA PACIFIC AEROGEL MARKET SIZE, BY COUNTRY,
2016-2019 (USD MILLION) 122
TABLE 88 ASIA PACIFIC AEROGEL MARKET SIZE, BY COUNTRY,
2020–2025 (USD MILLION) 123
TABLE 89 ASIA PACIFIC AEROGEL MARKET SIZE, BY COUNTRY, 2016-2019 (TON) 123
TABLE 90 ASIA PACIFIC AEROGEL MARKET SIZE, BY COUNTRY, 2020–2025 (TON) 124
TABLE 91 ASIA PACIFIC AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD MILLION) 124
TABLE 92 ASIA PACIFIC AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 124
TABLE 93 ASIA PACIFIC AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 125
TABLE 94 ASIA PACIFIC AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 125
10.3.1 CHINA 125
10.3.1.1 Increasing investment in oil & gas companies to boost demand 125
TABLE 95 CHINA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 125
TABLE 96 CHINA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 126
TABLE 97 CHINA AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 126
TABLE 98 CHINA AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 127
10.3.2 JAPAN 127
10.3.2.1 Established automotive sector to augment market growth 127
TABLE 99 JAPAN AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 127
TABLE 100 JAPAN AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 127
TABLE 101 JAPAN AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 128
TABLE 102 JAPAN AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 128
10.3.3 SOUTH KOREA 128
10.3.3.1 Oil & gas sector to offer opportunities for aerogel manufacturers 128
TABLE 103 SOUTH KOREA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 129
TABLE 104 SOUTH KOREA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 129
TABLE 105 SOUTH KOREA AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 129
TABLE 106 SOUTH KOREA AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 130
10.3.4 INDIA 130
10.3.4.1 Rapid industrialization to drive market 130
FIGURE 42 INDIA: AEROGEL MARKET SIZE, 2016–2025 130
10.3.5 AUSTRALIA 131
10.3.5.1 Increasing awareness of advantages over traditional insulation materials 131
FIGURE 43 AUSTRALIA: AEROGEL MARKET SIZE, 2016–2025 131
10.4 EUROPE 131
FIGURE 44 EUROPE AEROGEL MARKET: SNAPSHOT 132
TABLE 107 EUROPE AEROGEL MARKET SIZE, BY COUNTRY, 2016-2019 (USD MILLION) 132
TABLE 108 EUROPE AEROGEL MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION) 133
TABLE 109 EUROPE AEROGEL MARKET SIZE, BY COUNTRY, 2016-2019 (TON) 133
TABLE 110 EUROPE AEROGEL MARKET SIZE, BY COUNTRY, 2020–2025 (TON) 133
TABLE 111 EUROPE AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD MILLION) 134
TABLE 112 EUROPE AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 134
TABLE 113 EUROPE AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 135
TABLE 114 EUROPE AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 135
10.4.1 GERMANY 135
10.4.1.1 Established automotive industry to support market growth 135
TABLE 115 GERMANY AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 136
TABLE 116 GERMANY AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 136
TABLE 117 GERMANY AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 137
TABLE 118 GERMANY AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 137
10.4.2 UK 137
10.4.2.1 Regulations in construction industry to generate more demand 137
TABLE 119 UK AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (USD THOUSAND) 137
TABLE 120 UK AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (USD THOUSAND) 138
TABLE 121 UK AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 138
TABLE 122 UK AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 139
10.4.3 SWEDEN 139
10.4.3.1 Regulatory insulation standards to drive the market 139
TABLE 123 SWEDEN AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 139
TABLE 124 SWEDEN AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 139
TABLE 125 SWEDEN AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 140
TABLE 126 SWEDEN AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 140
10.4.4 FRANCE 140
10.4.4.1 Growth in transportation and construction industry to
drive the market 140
FIGURE 45 FRANCE: AEROGEL MARKET SIZE, 2016–2025 141
10.4.5 ITALY 141
10.4.5.1 Growth in construction industry to drive the aerogel
market in the country 141
FIGURE 46 ITALY: AEROGEL MARKET SIZE, 2016–2025 141
10.5 MIDDLE EAST & AFRICA 142
TABLE 127 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY COUNTRY,
2016-2019 (USD MILLION) 142
TABLE 128 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY COUNTRY,
2020–2025 (USD MILLION) 142
TABLE 129 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY COUNTRY,
2016-2019 (TON) 143
TABLE 130 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY COUNTRY,
2020–2025 (TON) 143
TABLE 131 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD MILLION) 143
TABLE 132 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 144
TABLE 133 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (TON) 144
TABLE 134 MIDDLE EAST & AFRICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (TON) 144
10.5.1 SAUDI ARABIA 145
10.5.1.1 Established oil & gas companies to increase demand 145
TABLE 135 SAUDI ARABIA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 145
TABLE 136 SAUDI ARABIA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 145
TABLE 137 SAUDI ARABIA AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 146
TABLE 138 SAUDI ARABIA AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 146
10.5.2 UAE 146
10.5.2.1 Oil exports to generate demand for aerogels 146
TABLE 139 UAE AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (USD THOUSAND) 146
TABLE 140 UAE AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 147
TABLE 141 UAE AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 147
TABLE 142 UAE AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 147
?
10.5.3 IRAN 148
10.5.3.1 Growing construction industry to drive market 148
TABLE 143 IRAN AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 148
TABLE 144 IRAN AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 148
TABLE 145 IRAN AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 149
TABLE 146 IRAN AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 149
10.5.4 EGYPT 149
10.5.4.1 Infrastructure development in the country to increase demand 149
FIGURE 47 EGYPT: AEROGEL MARKET SIZE, 2016–2025 150
10.6 SOUTH AMERICA 150
TABLE 147 SOUTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY,
2016-2019 (USD MILLION) 150
TABLE 148 SOUTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY,
2020–2025 (USD MILLION) 151
TABLE 149 SOUTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY, 2016-2019 (TON) 151
TABLE 150 SOUTH AMERICA AEROGEL MARKET SIZE, BY COUNTRY, 2020–2025 (TON) 151
TABLE 151 SOUTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD MILLION) 152
TABLE 152 SOUTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD MILLION) 152
TABLE 153 SOUTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (TON) 152
TABLE 154 SOUTH AMERICA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (TON) 153
10.6.1 BRAZIL 153
10.6.1.1 Emerging industries in the country to offer lucrative opportunities 153
TABLE 155 BRAZIL AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 153
TABLE 156 BRAZIL AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 154
TABLE 157 BRAZIL AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 154
TABLE 158 BRAZIL AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 154
10.6.2 VENEZUELA 155
10.6.2.1 Demand from oil & gas industry to generate high demand 155
TABLE 159 VENEZUELA AEROGEL MARKET SIZE, BY APPLICATION,
2016-2019 (USD THOUSAND) 155
TABLE 160 VENEZUELA AEROGEL MARKET SIZE, BY APPLICATION,
2020–2025 (USD THOUSAND) 155
TABLE 161 VENEZUELA AEROGEL MARKET SIZE, BY APPLICATION, 2016-2019 (TON) 156
TABLE 162 VENEZUELA AEROGEL MARKET SIZE, BY APPLICATION, 2020–2025 (TON) 156
10.6.3 COLOMBIA 156
10.6.3.1 Need for high performance insulation in construction industry 156
FIGURE 48 COLOMBIA: AEROGEL MARKET SIZE, 2016–2025 157
10.6.4 ARGENTINA 157
10.6.4.1 Developing industries in the country to boost market growth 157
FIGURE 49 ARGENTINA: AEROGEL MARKET SIZE, 2016–2025 157

11 COMPETITIVE LANDSCAPE 158
11.1 INTRODUCTION 158
FIGURE 50 COMPANIES ADOPTED CONTRACT & AGREEMENT AS KEY GROWTH
STRATEGY BETWEEN 2015 AND 2019 158
11.2 MARKET EVALUATION FRAMEWORK 159
FIGURE 51 MARKET EVALUATION FRAMEWORK 159
11.3 MARKET SHARE OF KEY PLAYERS 159
FIGURE 52 MARKET SHARE ANALYSIS, 2019 160
11.4 RANKING OF KEY MARKET PLAYERS, 2019 161
FIGURE 53 RANKING OF KEY MARKET PLAYERS, 2019 161
11.5 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS, 2019 161
11.6 COMPANY EVALUATION MATRIX DEFINITIONS AND METHODOLOGY 162
11.6.1 STAR 162
11.6.2 EMERGING LEADERS 162
11.6.3 PERVASIVE 162
11.6.4 PARTICIPANTS 162
FIGURE 54 AEROGEL MARKET COMPANY EVALUATION MATRIX, 2019 163
11.7 STARTUP & SMALL AND MEDIUM-SIZE ENTERPRISES (SMES) MATRIX, 2019 164
FIGURE 55 AEROGEL MARKET: STARTUP & SMES MATRIX, 2019 164
11.8 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS, 2019 165
FIGURE 56 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN THE AEROGEL MARKET 165
11.9 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS, 2019 166
FIGURE 57 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN THE
AEROGEL MARKET 166
11.10 COMPETITIVE SCENARIO 167
11.10.1 CONTRACT & AGREEMENT 167
TABLE 163 CONTRACT & AGREEMENT, 2016–2019 167
11.10.2 EXPANSION 167
TABLE 164 EXPANSION, 2016–2019 167
11.10.3 INNOVATION & NEW PRODUCT LAUNCH 168
TABLE 165 INNOVATION & NEW PRODUCT LAUNCH, 2016–2019 168
11.10.4 PARTNERSHIP & JOINT VENTURE 168
TABLE 166 PARTNERSHIP & JOINT VENTURE, 2016–2019 168
12 COMPANY PROFILES 169
(Business Overview, Products Offered, Recent Developments, Winning Imperatives, Threat from Competition, Right to Win)*
12.1 ASPEN AEROGELS 169
FIGURE 58 ASPEN AEROGELS: COMPANY SNAPSHOT 169
FIGURE 59 ASPEN AEROGELS: WINNING IMPERATIVES 171
12.2 CABOT CORPORATION 172
FIGURE 60 CABOT CORPORATION: COMPANY SNAPSHOT 172
FIGURE 61 CABOT CORPORATION: WINNING IMPERATIVES 174
12.3 AEROGEL TECHNOLOGIES 175
FIGURE 62 AEROGEL TECHNOLOGIES: WINNING IMPERATIVES 176
12.4 NANO TECH CO. LTD. 178
FIGURE 63 NANO TECH CO. LTD.: WINNING IMPERATIVES 178
12.5 ARMACELL 180
FIGURE 64 ARMACELL: COMPANY SNAPSHOT 180
FIGURE 65 ARMACELL: WINNING IMPERATIVES 181
12.6 GUANGDONG ALISON HI-TECH 183
12.7 ACTIVE AEROGELS 184
12.8 ENERSENS 185
12.9 JIOS AEROGEL 186
12.10 BASF 187
FIGURE 66 BASF: COMPANY SNAPSHOT 187
*Details on Business Overview, Products Offered, Recent Developments, Winning Imperatives, Threat from Competition, Right to Win might not be captured in case of unlisted companies.
12.11 OTHER KEY PLAYERS 189
12.11.1 AEROGEL UK 189
12.11.2 INTELLIGENT INSULATION 189
12.11.3 SURNANO AEROGEL 189
12.11.4 DOW CORNING 189
12.11.5 BLUESHIFT INTERNATIONAL MATERIALS 189
12.11.6 GREEN EARTH AEROGEL TECHNOLOGIES 189
12.11.7 OCELLUS 189
12.11.8 TAASI CORPORATION 189
12.11.9 GELANGGANG KENCANA 190
12.11.10 AEROGEL INSULATION INDIA 190
12.11.11 PROTECTIVE POLYMERS 190
13 ADJACENT & RELATED MARKETS 191
13.1 INTRODUCTION 191
13.2 LIMITATION 191
13.3 PIPE INSULATION MARKET 191
13.3.1 MARKET DEFINITION 191
13.3.2 MARKET OVERVIEW 191
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13.4 PIPE INSULATION MARKET, BY REGION 192
TABLE 167 PIPE INSULATION MARKET SIZE, BY REGION, 2016–2023 (USD MILLION) 192
13.4.1 ASIA PACIFIC 192
13.4.1.1 By country 192
TABLE 168 ASIA PACIFIC: PIPE INSULATION MARKET SIZE, BY COUNTRY,
2016–2023 (USD MILLION) 192
13.4.1.2 By application 193
TABLE 169 ASIA PACIFIC: PIPE INSULATION MARKET SIZE, BY APPLICATION,
2016–2023 (USD MILLION) 193
13.4.2 WESTERN EUROPE 193
13.4.2.1 By country 194
TABLE 170 WESTERN EUROPE: PIPE INSULATION MARKET SIZE, BY COUNTRY,
2016–2023 (USD MILLION) 194
13.4.2.2 By application 194
TABLE 171 WESTERN EUROPE: PIPE INSULATION MARKET SIZE, BY APPLICATION,
2016–20