New York, United States , Jan. 29, 2024 (GLOBE NEWSWIRE) -- The Global Aerogel Insulation Market Size is to Grow from USD 982 Million in 2022 to USD 2,976 Million by 2032, at a Compound Annual Growth Rate CAGR of 11.7% during the projected period. The market is primarily propelled by the increasing need for aerogel in various applications such as oil and gas, construction, transportation, daylighting & LVHS, and performance coating.
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Aerogels are special materials with outstanding thermal insulation qualities and a very low density. They are commonly referred to as "frozen smoke" or "solid air" due to their translucent appearance and lightweight nature. They are made up of linked nanoparticles, usually produced from silica, carbon, or metal oxides. It is produced by a procedure known as gelation, in which a gel precursor is subjected to supercritical drying, which removes the liquid component while maintaining the solid structure. It contributes to cleaner environments by effectively eliminating pollutants from the air and water, which helps with environmental remediation. The market for aerogel insulation is presently rising as a result of the increasing need for effective thermal insulation. Aerogels' remarkable thermal insulation qualities are being acknowledged and welcomed by sectors looking to cut down on energy use and heat loss. In the building industry, where builders and contractors are increasingly using aerogel-based insulation materials in their projects, this trend is especially noticeable. However, due to poor end-user knowledge, lack of standardization, and the necessity for bespoke solutions to match specific applications, aerogel insulation’s adoption has been limited. Therefore, it is anticipated that these factors will limit the expansion of the global aerogel insulation market during projected period.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on the "Global Aerogel Insulation Market Size, Share, and COVID-19 Impact Analysis, By Type (Silica, Polymer, Carbon, and Others), By Form (Blanket, Particle, Panel, Monolith), By Application (Oil and Gas, Construction, Transportation, Performance Coating, Daylighting & LVHS, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The silica segment is expected to grow at the fastest pace in the global aerogel insulation market during the forecast period.
The global aerogel insulation market is divided into four segments based on type: silica, carbon, polymer, and others. The silica segment is projected to expand at the fastest rate in the global aerogel insulation market throughout the forecast period. Owing to its high porosity, low cost, lightweight design, exceptional thermal insulation qualities, adaptability, and compatibility with a variety of industries, including building and construction, oil and gas, electronics, aerospace, and automotive.
The blanket segment is expected to grow at the highest pace in the global aerogel insulation market during the forecast period.
The global aerogel insulation market is classified into blanket, particle, panel, and monolith. Blanket segment is projected to expand at the fastest rate in the global aerogel insulation market during the forecast period. An aerogel blanket, sometimes referred to as an aerogel insulation blanket, is a kind of thermal insulation material that is lightweight and flexible, and it offers exceptional thermal resistance by utilizing aerogel technology.
The oil and gas segment is expected to hold the largest share of the global aerogel insulation market during the forecast period.
The global aerogel insulation market is divided into oil and gas, construction, transportation, performance coating, daylighting & LVHS, and other segments based on application. The oil and gas segment is projected to account for the majority share of the global aerogel insulation market throughout the forecast period. In the oil and gas industry, aerogels can be utilized as a support material for catalysts in a variety of chemical processes. Their porous nature and large surface area create the perfect setting for catalytic reactions, increasing the effectiveness of procedures like hydrocracking and hydrotreating.
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North America is anticipated to hold the largest share of the global Aerogel Insulation market over the predicted timeframe.
North America is expected to hold the greatest share of the global aerogel insulation market in the coming years. Advanced solutions are highly sought after in the oil and gas sector, which accounts for a large portion of the North American aerogel insulation market, due to their reduced thickness, superior insulating properties, and low heat conductivity.
Europe is anticipated to expand at the fastest rate in the global aerogel insulation market throughout the forecast period. Aerogels are becoming more and more in demand in the region as a result of regulations requiring energy saving in a number of sectors, including the building, residential development, and oil and gas industries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Aerogel Insulation Market include Aspen Aerogels, Inc., The Dow Chemical Company, JIOS Aerogel Corporation, Svenska Aerogel Holding AB, Surnano Aerogel Co. Ltd., Green Earth Aerogel Technology SL, Intelligent Insulation Ltd., BASF SE, Enersens SAS, Active Aerogels, Nano Tech Co., Ltd., Cabot Corporation, Guangdong Alison Hi-Tech Co., Ltd., Taasi Corporation, Protective Polymers Ltd, and others.
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Recent Developments
- In January 2022, Cabot Corporation revealed that the refurbishment of the Mathildenhöhe, an artists' colony in Darmstadt, Germany, which was just inducted into the UNESCO World Heritage list, involved the use of its highly insulating silica aerogel.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Aerogel Insulation Market based on the below-mentioned segments:
Global Aerogel Insulation Market, By Type
- Silica
- Polymer
- Carbon
- Others
Global Aerogel Insulation Market, By Form
- Blanket
- Particle
- Panel
- Monolith
Global Aerogel Insulation Market, By Application
- Oil and Gas
- Construction
- Transportation
- Performance Coating
- Daylighting & LVHS
- Others
Global Aerogel Insulation Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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