The global aerogel market size is expected to reach USD 2,656.20 million by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is predicted to increase due to rapidly improving battery technologies and a growing focus on energy-saving coating for Electric Vehicle (EV) batteries. The major players in the market are assisting in the advancements of batteries.
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For instance, in November 2020, Aspen won a contract to provide PyroThin thermal boundaries to a major US automobile OEM to be used in its battery platform for next-generation electric vehicles. PyroThin, an ultra-thin, light-weight, bendable thermal barrier developed by Aspen, is designed to meet the performance and security requirements of battery electric vehicles.
Silica-based blankets and sheets provide excellent thermal insulation and fire resistance, and when used in electric vehicles, they contribute to maintaining the appropriate temperature of the energy storage devices. It could also be employed as an electrocatalyst in supercapacitors, rechargeable batteries, and enhanced catalytic support to its unique chemical and textural properties. The demand for material-based batteries is predicted to rise as the trend toward electric mobility grows.
Furthermore, robust insulation is employed in car doorframes, roofs, and hoods, using about half the space of traditional foam materials. They can also provide excellent passive in-cabin climate management while saving energy, and they are projected to be used in a larger range of applications in the future.
Additionally, the carbon material could be employed in hydrogen and electrical energy storage because of its large surface area. Most notably, changing the network structure of carbon material could improve its energy storage capacity. It could also be employed as electrode material in supercapacitors, rechargeable batteries, and enhanced catalytic support because of its unique chemical and textural properties.
Also, the rising demand for low-density materials with insulating qualities from end-use industries such as aerospace, oil & gas, chemical, and automotive is boosting the growth of the market. NASA utilized aerogel in the Stardust Spacecraft to gather extraterrestrial nanoparticles and trap dust particles on board. The rising adoption of silica material in imaging sensors and optoelectronic devices is expected to expand the market growth.
Aerogel Market Report Highlights
- Polymer aerogel segment accounted for the second-largest market share in 2021 owing to its benefits such as when compared to silica equivalents, they have superior chemical and physical capabilities.
- Blanket segment is anticipated to witness the fastest growth which is accelerated by the blanket structure that transforms the brittle aerogel into a strong, flexible material. Because of their water repellency and light diffusion qualities, these blankets have a high density in building applications.
- Supercritical drying technology category is likely to grow at a significant rate. The most crucial stage in the manufacture of aerogels is supercritical drying, which preserves the three-dimensional pore architectures.
- North America is expected to witness a significant growth over the projected period this is due to the United States government continually providing incentives and encouraging the usage of electric vehicles (EVs).
- The global market is highly competitive owing to the existence of large market players with a global presence including Armacell International, BASF SE, Dow Inc., Svenska Aerogel, Thermablok Aerogels, ZheJiang Surnano.
Polaris Market Research has segmented the aerogel market report based on product, form, technology, end-use, and region:
Aerogel, Product Outlook (Revenue – USD Million, 2018 – 2030)
Aerogel, Form Outlook (Revenue – USD Million, 2018 – 2030)
Aerogel, Technology Outlook (Revenue – USD Million, 2018 – 2030)
- Supercritical Drying
- Other Technologies
Aerogel, End-Use Outlook (Revenue – USD Million, 2018 – 2030)
- Oil & Gas
- Building & Construction
- Automotive, Aerospace & Marine
- Performance Coatings
Aerogel, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa