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Aerogels Market By Material (Silica, Polymer, Carbon), By Form (Blanket, Particle, Panel, Monolith), By Application (Oil & Gas, Construction, Automotive, Marine & Aerospace , Performance Coating, Day-Lighting & Lvhs) - Growth, Future Prospects, And Competitive Analysis, 2016 -2028

About this report

The global Aerogel Market report explores the critical analysis of the aerogel industry using key parameters. The report consists of investment strategies, the need for investments in the aerogel industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the aerogel industry's global technical regulations and how economic and non-economic barriers are helping the market grow. Moreover, the report examines historical and projected global, regional, and country market sizes. The report also examines key investment propositions, the demand and supply gap, competitor positioning, SRC analysis, STAR analysis, and Tornado analysis. Key technological advancements and other analyses, including Value Chain, Porter's Five Forces, PESTEL, etc.


Key Highlights of the report

How are the major segments performing in the Global Aerogel Market?

The silica type segment led the market in 2021 and is expected to continue throughout the projection period. The increased demand for silica is due to high demand from end-use industries and its low cost and ease of availability. Silica is the most commonly used aerogel owing to its extensive research and practical application. It is the very first commercially available type of aerogel. Creating silica aerogel is inexpensive as it is still a widely accessible and affordable aerogel.

The blanket form segment dominated the global market in 2021. The blanket structure transforms the fragile aerogel into a durable and flexible material. Due to their water resistance and light diffusion qualities, these blankets are widely used in construction. Aerogel blankets can also be combined with PTF membranes to improve thermal insulation without adding weight. This is expected to drive further product usage in industrial insulation, such as in the building and construction industry.

The manufactured (virgin) processing segment led the market in 2021 and is expected to continue throughout the projection period. Virgin aerogels are manufactured aerogels that have not been loaded with any other material or chemically treated to improve their physical structure. Virgin aerogels are used in various applications as they are more commercially available than fabricated aerogels. Aerogel materials in the as manufactured segment, such as silica aerogel in R&D, are used directly in their original forms for applications. These aerogels can be used in industrial applications without additional processing or alterations and are used in the same form that aerogel manufacturers produce. The materials in this segment do not necessitate further compounding, manufacturing, coating, processing, or modification.

The oil & gas application segment dominated the market in 2021. Pipeline construction, fabrication, and operation necessitate using versatile insulation material, such as aerogel, with low density, high porosity, a low dielectric constant, and superior thermal insulation properties. Aerogel blankets are primarily used to improve the insulation of deep-sea pipes and oil and gas pipelines to reduce production costs, increase pipeline compression resistance, and reduce the amount of steel used in construction. Aerogel insulators also provide mechanical strength, hydrophobicity, and exceptional thermal performance.

Which region dominated the Global Aerogel Market?

North America held a dominant position in the global market for aerogel in 2021 due to growing awareness of environmentally friendly products, the U.S. government's increasingly stringent environmental norms, and increased research on products and development for manufacturing aerogel. The U.S. Department of Energy (DOE) is investing more in innovative insulation materials that save money and energy for the manufacturing industries, which is driving market growth in the region. The growing demand for aerogel in oil and gas pipelines, its lower installation costs, and improved compression resistance have propelled the region to experience faster growth during the assessment period. The major players in this market are the U.S., Mexico, and Canada.

What is the competitive environment of the Global Aerogel Market?

Key players use various strategies like media promotion and planning business conventions to increase their visibility in the market. Several companies also work with industry associations to develop applications for specific industries. Companies are also acquiring exclusive rights to sell goods from well-known brands. For instance, Svenska Aerogel announced in September 2020 that French manufacturer La Celtique is collaborating with Svenska Aerogel and distributor Novcoat to develop and market a new insulating roof coating with Quartzene. Similarly, BASF SE and Aspen Aerogels expanded their strategic collaboration in April 2019 to develop a new non-combustible, thermal insulating solution.

Executive Summary

What are all technical developments being developed in the Global Aerogel Market?

New carbon aerogel technology allows it to expand to more than three times its original length reversibly. Silica aerogels have also attracted much attention in science and technology due to their low thermal conductivity, hydrophobicity, optical transparency, low bulk density, and high surface area. For instance, in August 2020, Armacell, a global leader in energy efficiency, launched ArmaGel DT, a next-generation flexible aerogel blanket. ArmaGel DT is suitable for cryogenic and dual-temperature applications. ArmaGel DT offers superior thermal performance, exceptionally low thermal conductivity, and a reduction in insulation thicknesses than other competing insulation products. It does not shrink at cryogenic temperatures, and its hydrophobicity and flexibility protect against corrosion under insulation extending assets. Likewise, OrthoLite, a global player in high-performance, branded, and comfortable footwear solutions, launched an innovative new thermal insole technology, OrthoLite O-Therm, in February 2021. O-Therm has established a new standard in cold-weather footwear protection by delivering all of the known benefits of open-cell PU foam while providing the most insulative and light cold barrier protection available anywhere. OrthoLite is the first to market with open-cell, aerogel-infused PU foam. This cutting-edge technology creates a thermal barrier that keeps the cold out while maintaining footwear temperature regulation.

Which are the key investments by the players in the Global Aerogel Market?

Aerogel material production requires significant R&D expenditures, raising the cost of the process overall. Increased adoption of polymer and silica-based materials for construction and increased R&D investment drive market growth. Many oil & gas companies are now investing in deploying aerogel blankets for deep-sea pipelines, particularly in the pipe-in-pine oil and gas sub-segment. Aerogel helps to improve insulation while also lowering installation costs. Since it enables oil and gas companies to reduce the amount of steel used in pipe construction, making the pipe more compression resistant and increasing the assurance of an effective oil and gas flow, the material is one of the most in-demand products on the global market. Increased investment in R&D activities by market participants positively impacts the global market. The recently developed aerogel thermal barrier product line for use in lithium-ion batteries and the growing use of aerogel in new structures to meet energy consumption requirements are expected to propel the global market forward.

Some major players in the market are Cabot Corporation, Aspen Aerogels, Aerogel Technologies, Nano Tech Co. Ltd, Guangdong Alison Hi-Tech, Armacell, Active Aerogels, BASF, Enersens, and JIOS Aerogel.

What are the Major Driving Factors for the Global Aerogel Market?

Aerogels are excellent alternatives to traditional insulation materials like mineral wool, polyurethane foam, and rock wool. Aerogels are used to meet various governmental energy standards, which eliminate structural compromises in new buildings and constructions. Due to their reduced thickness and low thermal conductivity, aerogel materials can be used in both commercial and residential buildings to help save both floor space and a significant amount of energy. The materials' extreme porosity and nanometre-sized pores make them popular for industrial insulation. The ability of aerogel to insulate is owing to the nanopores, which are invisible to the human eye.

What are the Major Risks for the Global Aerogel Market?

The high cost of raw materials and complex manufacturing processes and technologies are expected to impede market revenue growth. Manufacturing aerogel materials necessitates significant investment in R&D activities, making the entire process time-consuming and the end product expensive. An advanced facility, highly specialized production mechanisms, and skilled labor are also required. The most expensive step in the production of aerogel is supercritical drying.

Which is the key Type in the Global Aerogel Market?

The silica type segment dominated the global market in 2021 and is expected to continue throughout the forecast period. Silica aerogel is one of the most popular and widely used aerogels. It is produced commercially using silica gel or a modified Stober process. This is due to the non-organic structures of these products, which are non-combustible and can withstand temperatures of up to 14000 degrees Celsius. As a result, they have excellent thermal insulation and heat endurance properties, which increases their demand. Silica aerogel uses fibrous reinforcements to transform inelastic aerogels into stretchy, tough, and aquaphobic materials. These silica aerogel-based non-flammable blankets should be able to effectively stop fires from spreading to homes, factories, and other critical infrastructure.

How is the Aerogel Market performing in regions?

North America dominated the global aerogel market in 2021 and is expected to continue this dominant position over the forecast period. Strong consumer awareness and rising demand for oil & gas and construction applications are supporting the market in the region. Due to improved insulating properties, low thermal conductivity, and reduced thickness, their applications in the oil and gas industry have been steadily expanding, driving market expansion. The region's rapidly expanding EV production and adoption will probably increase product demand as it is widely used in constructing EV batteries. In addition, the market is anticipated to grow over the forecast period owing to increased demand for novel and cutting-edge solutions and increased utilization of these materials in the automotive, marine, and aerospace sectors.

Besides, due to increased research and development activities of aerogel products in leading companies, the Asia Pacific region is growing significantly in the market. Growing investments in end-use industries are expected to drive the region's market growth throughout the forecast period. The increasing consumption of insulation materials in marine, aerospace, defense, electrical & electronics has propelled countries such as Japan, China, and India to achieve stunning growth in the market owing to the product's excellent stability, flexibility, and low maintenance.

What is the regulatory landscape for the Global Aerogel Market?

Industries and companies are adhering to stringent environmental regulations and improving current materials and technologies to meet standard criteria and specifications as concerns about climate change grow. Aerogel materials can save a significant amount of energy that would otherwise be used for heating and cooling due to their low thermal conductivity and thinness. As a result, these materials are expected to be a viable replacement for traditional insulation materials in meeting various regulatory bodies' energy requirements and avoiding structural compromises in new construction projects. The European market has grown significantly due to the implementation of new rules and regulations proposed by the government to use less dense materials than steel in oil & gas pipeline constructions. The U.S. government is also constantly offering incentives and promoting using electric vehicles (EVs). Additionally, it provides various tools to increase EV manufacturing and support OEMs and component suppliers with product development. The introduction of a new product line of aerogel thermal barriers for use in lithium-ion batteries in electric vehicles is, therefore, likely to have positive market effects.

What is the Market Size of Aerogel regarding value?

The global aerogel market is anticipated to grow at a substantial CAGR of 14.8% in the upcoming years. The global aerogel industry was estimated to be worth USD 812.1 million in 2021 and was expected to be worth USD 1858.92 million by 2028.

What are the major players planning for the future of the Aerogel Market?

The industry's key players are investing in research and development to reduce production costs and increase manufacturing capacity to meet expected future demand growth. Lowering manufacturing costs and boosting aerogel products' competitiveness compared to traditional materials are the main goals of future R&D in thermal insulation technologies with aerogel. An aerogel window, for example, costs approximately 20 £/m2, which is six times the cost of a double-glazed window. Aerogel can potentially replace other insulation materials in the future, despite their high cost, including textiles and cryogenic and high-temperature thermal insulation for space launch applications. For instance, researchers from several space organizations reported in July 2019 that silica aerogel might one day be used to develop a habitable atmosphere on Mars. Likewise, the National Aeronautics and Space Administration (NASA) is looking for commercial partners for a patented nano-encapsulated aerogel technology developed by engineers at NASA's Johnson Space Center.

Segmentation of Global Aerogel Market -

Global Aerogel Market – By Type

  • Silica
  • Polymer
  • Carbon
  • Others

Global Aerogel Market – By Form

  • Blanket
  • Panel
  • Particle
  • Monolith

Global Aerogel Market – By Processing

  • Manufactured (Virgin)
  • Composites
  • Additives

Global Aerogel Market – By Application

  • Oil & Gas
  • Construction
  • Transportation
  • Performance Coating
  • Day-Lighting & LVHS
  • Others

Global Aerogel Market – By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Aerogel Market

The global aerogel market also suffered from the COVID-19 pandemic, which resulted in a decline of over 6.7% in revenue generated in 2020.

North America accounted for the highest share in the global aerogel market regarding value and volume.

The key factors driving the global market are the expanding application scope across various industries, particularly aerospace & automotive, eco-friendly material nature, and the rising demand for thinner and lighter materials with superior thermal insulation properties in various applications, including transportation, building and construction.

The silica segment had a major share in 2021, with more than 67% of the market revenue. Besides, the polymer is projected to witness the fastest growth.

Oil & Gas had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.

Aerogels Market Scope

Report Attribute Details
Market Value in 2021 USD 812.1 million
Market Value in 2028 USD 1858.92 million
CAGR 14.8%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  Oct 2022
Category:  Chemicals
Report ID:   58555
Report Format:   PDF
Pages:   150
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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