NEW YORK, March 24, 2023 /PRNewswire/ -- As per Zion Market Research study, The Europe blanket aerogel market size was evaluated at $12.2 Billion in 2022 and is slated to hit $25.2 Billion by the end of 2030 with a CAGR of nearly 9.3% between 2023 and 2030.
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Europe Blanket Aerogel Market: Overview
Aerogels are easily available in form of panels, blankets, blocks, and powders. Moreover, blankets are the most commonly used blanket forms of aerogels as they can be easily handled. Furthermore, blankets are formed by combining silica aerogels and flexible fibers. In the case of piping insulations, blankets prove to be convenient for refinery pipe wrapping with apt sheets. Aerogel blankets are used in cryogenic applications as they offer flexibility even after they are merged into liquid nitrogen. Apart from this, aerogel blankets can be easily rolled, thereby making them fit for applications requiring high barrier features.
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Key Industry Insights & Findings of the Europe Blanket Aerogel Market Reports:
- As per the analysis shared by our research analyst, the Europe blanket aerogel market is projected to expand annually at the annual growth rate of around 9.3% over the forecast timespan (2023-2030)
- In terms of revenue, the Europe blanket aerogel market was assessed at nearly $12.2 billion in 2022 and is expected to reach $25.2 billion by 2030.
- The market is anticipated to record massive growth over the forecast period owing to the focus on green initiatives by various countries in Europe.
- Based on the end-use industry, the building & construction segment to account for the major share of the European market over the forecast timeline.
- In terms of type, the silica segment is predicted to record the highest CAGR during the analysis timeframe.
- Region-wise, the Germany blanket aerogel market is projected to account for the highest growth during the assessment period.
Zion Market Research published the latest report titled "Europe Blanket Aerogel Market By Type (Silica, Polymers, And Carbon), By End-Use Industry (Automotive, Building & Construction, Aerospace, Oil & Gas, Marine, Chemicals & Pharmaceuticals, Locomotive, Electrical & Electronics, Medical & Healthcare, And Others), By Layer (Mono-Layer And Multi-Layer), And By Region - And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" into their research database.
Industry Dynamics:
Europe Blanket Aerogel Market: Growth Drivers
- Favorable product features such as water-resistance and fireproofing to boost the market trends in Europe.
Focus on green initiatives by various countries in Europe will catalyze the expansion of Europe blanket aerogel market in the upcoming years. Furthermore, blanket aerogels are water-resistant and possess fireproofing features, thereby outperforming many insulating materials. This, in turn, will provide impetus to the growth of the Europe blanket aerogel market. With blanket aerogels being non-toxic and ecologically safe, the demand for the product is gaining traction in Europe. Rise in penetration of blanket aerogel in the construction and clothing sectors is predicted to boost the blanket aerogel market trends in Europe. Moreover, large-scale use of the product in the aerospace sector will expand the scope of the market surge in Europe.
Furthermore, innovative solutions in the nanotechnology domain as well as gelation processes have led to enhanced productivity of products, thereby steering the growth of the Europe blanket aerogel market. Escalating concerns pertaining to vehicle ambiance will further push the blanket aerogel market expansion in Europe.
Europe Blanket Aerogel Market: Hindrances
- Inconsistent raw material costs to impede the industry surge in Europe
Huge production costs as well as fluctuations in raw material costs can decimate the expansion of the blanket aerogel industry in Europe.
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Europe Blanket Aerogel Market: Opportunities
- Growing focus of the EU on energy conservation to open new growth opportunities for the market in Europe
The EU's energy-efficient policy makes it mandatory for the member countries in reducing energy consumption has translated into a rise in acceptance of aerogel blankets as insulating materials in buildings, thereby creating new growth avenues for the Europe blanket aerogel market.
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Europe Blanket Aerogel Market: Challenges
- Complex manufacturing process required to produce blanket aerosol can prove to be a major challenge to market expansion in Europe
Highly specialized manufacturing methods for producing blanket aerogel and supercritical drying being the most expensive in the blanket aerogel production process are some of the aspects posing a huge challenge for the players in the Europe blanket aerosol industry.
Europe Blanket Aerogel Market: Segmentation
The Europe blanket aerogel market is sectored into type, end-use industry, layer, and region.
In terms of type, the Europe blanket aerogel market is divided into silica, carbon, and polymers segments. Apparently, the silica segment, which dominated the type landscape in 2022 by contributing a major share, is projected to register the highest CAGR of nearly 15.2% during the forecast period. The segmental surge can be a result of the use of silica in the manufacture of blanket aerogels for making the latter stretchable, strong, and water-repellent. Reportedly, non-inflammable blankets are made from silica aerogels that help in protecting houses, firms, and other infrastructures from catching fire due to fire outbreaks. Moreover, huge demand for blanket aerogels made from silica owing to their beneficial properties will enhance its penetration in aerospace as well as building & construction sectors.
Based on the end-use industry, the Europe blanket aerogel industry is bifurcated into automotive, building & construction, aerospace, oil & gas, marine, chemicals & pharmaceuticals, locomotive, electrical & electronics, medical & healthcare, and others segments. Furthermore, the building & construction segment, which accounted for the major share of the blanket aerogel industry share in Europe, will retain its industry domination in Europe during the forecast timeline. The segmental surge during the analysis timeframe can be due to large-scale use of blanket aerogels in insulating buildings as it helps in reducing heat & energy loss in commercial & residential buildings.
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List of Key Players in Europe Blanket Aerogel Market:
- ZhengZhou Joda Technology Co. Ltd.
- Enersens Aerogel
- Cabot Corporation
- Active Aerogels
- SVENSKA AEROGEL AB
- Green Earth Aerogel Tehnologies
- Acoustiblok UK Ltd.
- Aspen Aerogels Inc.
- Armacell International S.A.
- Aerogel Technologies LLC
- Airglass AB.
Key questions answered in this report:
- What are the growth rate forecast and market size for Europe Blanket Aerogel Market?
- What are the key driving factors propelling the Europe Blanket Aerogel Market forward?
- What are the most important companies in the Europe Blanket Aerogel Market Industry?
- What segments does the Europe Blanket Aerogel Market cover?
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Recent Developments
- In September 2022, Armacell, a key producer and supplier of flexible insulation materials & industrial foams, introduced ArmaGel HTL, an exceptional non-combustible aerogel blanket that can be used in industrial applications where improved thermal performance, non-combustion, and reduction of corrosion during insulation is required. The new product launches will help in enhancing the scope of demand for blanket aerogels in Europe.
- In March 2023, Cabot Corporation, a key manufacturer of major parts of lithium-ion batteries based in the U.S. and has its centers in European countries, declared the launching of EVOLVE™ Sustainable Solutions, a new tool for advancing sustainable reinforcing carbons. The move will boost the expansion of the blanket aerogel market in Europe.
Europe Blanket Aerogel Market: Regional Insights
- Blanket aerogel market in Germany to garner major revenue share of the European market over 2023- 2030
Germany, which accounted for the major share of the Europe blanket aerogel market in 2022, is anticipated to contribute majorly towards the regional market share even in the coming years. The growth of the market in Germany can be attributed to the large presence of giant automotive manufacturers in the country. Moreover, the high demand for blanket aerogel in the automotive sector in the country will prop up the growth of the market in Germany. Increase in industrialization in the country has accelerated product penetration in various industries in Germany, thereby boosting regional market trends.
Furthermore, Russia is also likely to make major contributions to the blanket aerogel industry size in Europe in the forecasting years. The growth can be attributed to Russia being the largest producer of oil & gas in Europe where aerogel blankets find huge applications.
Europe Blanket Aerogel Market is segmented as follows:
Europe Blanket Aerogel Market: By Type Outlook (2023-2030)
- Silica
- Polymers
- Carbon
Europe Blanket Aerogel Market: By End-Use Industry Outlook (2023-2030)
- Automotive
- Building & Construction
- Aerospace
- Oil & Gas
- Marine
- Chemicals & Pharmaceuticals
- Locomotive
- Electrical & Electronics
- Medical & Healthcare
- Others
Europe Blanket Aerogel Market: By Layer Outlook (2023-2030)
- Mono-Layer
- Multi-Layer
Europe Blanket Aerogel Market: By Region Outlook (2023-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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