aerogel market

Aerogel Market Share, Size, Trends, Industry Analysis Report, By Product (Silica, Polymers, Carbon, Others); By Form; By Technology; By End-Use; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jul 2022
  • Pages: 118
  • Format: PDF
  • Report ID: PM1172
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Summary

The global aerogel market was valued at USD 835.16 million in 2021 and is expected to grow at a CAGR of 14.9% during the forecast period. The rapid demand of the market from oil & gas, construction, transportation, specialty coating, day-lighting & LVHS, and others is driving the market. The aerogel market will be driven by factors such as super heat resistance and thinner and lighter alternatives.

Aerogel Market Size
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It is a porous solid with the smallest particle size of any substance that has been discovered. The end product is semi-solid with low density and several unique properties, the most remarkable of which is its capacity to operate as a thermal insulator. It's characterized as condensed smoke, thick blue smoke due to the object's trans light scattering, although it feels like styrofoam to the contact.

COVID-19 has had an impact on the global economy and demand in major sectors around the world. During this scenario, the key end-use sectors such as oil & gas, construction, transportation, and others, were also impacted.

The market has been hurt by a drop in oil prices and delays in new pipeline installations, as well as lower demand from the automobile sector and a temporary pause in construction operations. The market, on the other hand, is rebounding, and businesses have resumed operations with restricted capacity and following government directives.

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Industry Dynamics

Growth Drivers
Its popularity as a cost-effective alternative to traditional coating materials is projected to fuel industry expansion. Polyurethane foam, mineral fur, and rock wool are examples of traditional insulation materials that can be hazardous. High insulation levels are far more difficult to set up in ancient homes, as extra layers contribute to aesthetic improvements.

Because of their poor thermal conductivity and thinness, these materials can save a large amount of energy that would otherwise be used for heating and cooling. As a result, these materials are expected to be a viable replacement for traditional insulation materials in order to meet the energy requirements of various regulatory bodies and prevent structural compromises in new construction projects.

The recently developed polymer nanofiber-based material has extremely low heat conductivity and density, outstanding elasticity, and designable multifunctional. As a result, these advantages are increasing segmental growth.

Further, it is also regarded as an appropriate material for heat insulation due to its low density and low thermal conductivity. It is implanted in firefighter protective garments and is being included in apparel such as shoes and jackets due to its protective properties. Furthermore, the advancement of the aerospace and automotive industries has a substantial impact on the global market's expansion.

Report Segmentation

The market is primarily segmented based on product, form, technology, end-use, and region.

By Product

By Form

By Technology

By End-Use

By Region

  • Silica
  • Polymers
  • Carbon
  • Others
  • Blanket
  • Particle
  • Panel
  • Monolith
  • Supercritical Drying
  • Others
  • Oil & Gas
  • Building & Construction
  • Automotive, Aerospace & Marine
  • Performance Coatings
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Blanket is expected to witness the fastest growth

Aerogel blankets are ultra-thin, flexible nonwovens with outstanding insulating qualities that integrate particles. Such blankets are used in buildings as thermal insulation, reducing energy loss and lowering the temperature within the building on hot days.

Because of its light diffusion and water repellency capabilities, these blankets are commonly utilized in commercial structures. To improve thermal insulation capabilities, they can be coupled with Polytetrafluoroethylene polymer (PTF) membranes.

Polymers segment accounted for the second-largest market share in 2021

Increasing adoption of polymer-based materials for the shelter, as well as increased investment in R&D, are propelling the market forward. Such materials are thin, transparent materials that can be used to modernize old monuments. Polymer materials are also increasing in popularity as an internal insulation alternative for historic monument renovations, side balconies, and roof balcony structures.

Silica are known for their exceptional ability to combine low thermal conductivity and great optical transparency. They are transparent, however, seem blue due to the Rayleigh scattering phenomenon and are thus referred to as frozen smoke or blue smoke. The silica-based market is accelerated by its high insulating qualities, low cost, plentiful raw material availability, and versatile manufacturing technique.

Oil and Gas Industry is expected to hold the significant revenue share

The important factor driving the aerogel market growth is the growing use of the materials in the oil and gas and construction industries. Buildings and the oil and gas sectors employ such material coatings as insulators. The oil and gas industry transports large amounts of raw oil through pipes. Such coatings help to avoid leaks, and their chemical inertness makes them excellent for pipe insulation and security.

These material-based blankets are also used to insulate roofs and walls of buildings in the construction sector. The market is growing due to the construction of new buildings and the rehabilitation of old historic buildings and infrastructure. They are also significantly lighter than other traditional insulation materials, and as a result, their use in a growing number of applications is gaining popularity.

Due to the rising use of materials such as high-performance insulating plaster in buildings, revenue in the construction category is predicted to grow at a much faster CAGR throughout the forecast period. Its insulating plaster is non-flammable. Hence it protects building interiors from minor fires. They can also be utilized to save energy when renovating old historic buildings and constructions.

The demand in North America is expected to witness significant growth

The major presence of well-established manufacturing sectors in nations throughout the region is boosting the growth of North America during the forecast period. Their applications in the oil and gas industry have been continuously growing due to better insulating qualities, low thermal conductivity, and reduced thickness, which is pushing market expansion. Because it is widely used in the construction of EV batteries, the region's rapidly rising production and adoption of EVs is likely to improve product demand.

Furthermore, the market is likely to rise during the forecast period due to rising demand for novel and advanced solutions as well as increased use of these materials in the marine, automotive, and aerospace industries.

Due to increased R&D activities on these materials and investment by prominent businesses, the market in the Asia Pacific is likely to rise at a quick rate over the forecast period. Its increasing use in numerous industries, including pharmaceuticals, transportation, and automobiles, is further boosting the market growth.

Other important drivers driving revenue growth in the Asia Pacific market include rising usage of insulation materials in marine, aircraft, defense, and electrical & electronics in countries such as Japan, China, and India, as well as simple availability of raw materials and low labor costs.

Competitive Insight

Some of the major players operating in the global aerogel market include Armacell International., Active Aerogels, Aerogel Technologies, Airglass UK, Aspen Aerogels, BASF SE, Cabot Corporation, CF Technologies, Dow Inc., ENERSENS, Green Earth Aerogel, Guangdong Alison, JIOS Aerogel, Nano High-Tech, Ocellus Inc., Svenska Aerogel, TAASI Corporation, Thermablok Aerogels, and ZheJiang Surnano Aerogel.

Recent Developments

In April 2022, Alkegen unveiled AlkeGel by Alkegen, its newest proprietary technology. AlkeGel is the next extensible material designed for EV and battery fire protection, as well as other industrial temperature control applications. When compared to competing insulation products, AlkeGel from Alkegen has extremely high thermal conductivity and dustiness, greater thermal performance, and a decrease in insulating thicknesses.

In April 2019, BASF SE and Aspen Aerogels, extended their strategic cooperation to manufacture of a new non-combustible, thermal insulating solution.

Aerogel Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 835.16 million

Revenue forecast in 2030

USD 2,656.20 million

CAGR

14.9% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Segments covered

By Product, By Form, By Technology, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Armacell International S.A., Active Aerogels, Inc., Aerogel Technologies LLC, Airglass UK, Aspen Aerogels Inc., BASF SE, Cabot Corporation, CF Technologies, Dow Inc., ENERSENS, Green Earth Aerogel Technologies (GEAT), Guangdong Alison Hi-Tech Co. Ltd, JIOS Aerogel Corporation, Nano High-Tech Co. Ltd, Ocellus Inc., Svenska Aerogel AB, TAASI Corporation, Thermablok Aerogels Ltd,  ZheJiang Surnano Aerogel Co. Ltd.

Key Take-Away
Polaris Market Research
Global Aerogel Market Size Global Report, 2022 - 2030