Richmond, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to a research report "Aerogels Market, by Product Type (Silica Aerogel, Polymer Aerogel and Carbon Aerogel), Form (Monolith, Blanket, Article and Panel), Processing (Virgin Processed Aerogel and Fabricated Aerogel), Application (Battery Packs, Optical Fibers, Thermal & Acoustical Insulation, Electronic Devices, Capacitors, Imaging Devices, Catalysts, Pesticides and Others), End-use Industry (Automotive, Building & Construction, Oil & Gas, Electrical & Electronics, Medical, Agriculture, Aerospace and Others) and Region.
Global Aerogels Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 1.04 Billion |
| Market size value in 2030 | USD 3.80 Billion |
| CAGR (2023-2030) | 17.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Form, Processing, Application, End-use Industry and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Aerogels Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Aerogels belong to the category of low-density solid gels where the liquid component has been replaced by gas or air. These aerogels are structurally composed of various materials, including silica, carbon, iron oxide, gold, and copper. Regardless of the specific material, the predominant presence of air within the gel imparts a transparent color to it. These gels possess distinctive characteristics like high porosity, low density, and thermal conductivity. Capitalizing on these properties, the material finds applications as an insulation agent in industries such as construction and oil & gas. The U.S. market is poised for significant growth, driven by manufacturers' awareness of the advantages offered by aerogels compared to other insulation materials. Additionally, the well-established industries in the country, spanning marine, performance coating, automobiles, aerospace, building and construction, oil, and natural gas, are expected to fuel the demand for aerogels throughout the forecast period.
Major Vendors in the Global Aerogels Market:
- Active Aerogels
- Aerogel Technologies, LLC
- Armacell
- Aspen Aerogels, Inc.
- BASF SE
- Cabot Corporation
- Dow
- Enersens
- Guangdong Alison Hi-Tech Co., Ltd.
- JIOS Aerogel Corporation
- Nano Technology Co., Ltd.
- Svenska Aerogel AB
- Thermablok Aerogels Limited
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Growing Demand in Construction Industry
Conventional insulating materials like polyurethane foam, mineral wool, rock wool, and stone wool come with several drawbacks. In new construction projects, achieving the required R-value often necessitates substantial layers of these materials, leading to a significant loss of valuable floor space. Retrofitting older structures with additional insulation layers is more challenging and alters the building's aesthetics. Aerogels are poised to serve as a viable alternative to traditional insulation materials in new constructions, addressing energy standards set by regulatory agencies and preventing structural compromises. Owing to their low thermal conductivity and slim profile, aerogel materials have the potential to save considerable energy that would otherwise be consumed for heating and cooling. The ongoing industrialization and commercialization, particularly in the development of high-rise buildings, are expected to drive the expansion of the construction market, consequently contributing to the growth of the aerogel market.
Market Dynamics
Drivers:
- Increasing demand for mental health services
- Growing geriatric and medically underserved populations
- High demand from healthcare providers
Opportunities:
- Partnering with other organizations
- Developing new technologies
- Educating the public
Increasing utilization of sustainable and eco-friendly materials in the electronics packaging
The growing adoption of sustainable and environmentally friendly materials in electronics packaging is currently contributing positively to the expansion of the aerogel market. Companies actively seek alternative materials in line with their sustainability objectives, and aerogels are emerging as a viable option. These exceptionally lightweight materials offer outstanding thermal insulation properties, making them well-suited for applications in electronics packaging. Additionally, aerogels demonstrate environmental friendliness, typically sourced from renewable resources and being recyclable. Moreover, manufacturers are progressively substituting traditional packaging materials, such as plastics and foams, with aerogels, given their remarkable attributes including exceptional thermal insulation, low density, and high porosity. These characteristics align seamlessly with sustainability and eco-friendly goals, contributing to a reduction in the carbon footprint and environmental impact of electronic packaging.
The market for Aerogels is dominated by North America.
In 2022, In North America, the market holds a substantial share, driven by the escalating consumption of insulation materials across sectors like oil & gas, construction, and transportation. The heightened demand for aerogel in oil and gas pipelines, coupled with its cost-effective installation and enhanced compression resistance, positions the region for significant growth over the assessment period. Key contributors to this market in North America include the U.S., Canada, and Mexico.
The Asia Pacific region is experiencing noteworthy growth in the market, propelled by increased research and development activities focused on Aerogel products by leading companies. Projections indicate that rising investments in end-use industries will propel market expansion in the region during the forecast period. Countries such as China, Japan, and India are witnessing remarkable growth in the market due to the growing consumption of insulation materials in aerospace, marine, defense, electrical & electronics sectors. These countries offer excellent flexibility, stability, and low maintenance for aerogel products, contributing to their impressive market growth.
The Silica Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on product type, the market is silica, polymer and carbon. In 2022, the silica segment took the lead in the market, capturing a significant share of global revenue. Silica aerogels have garnered widespread attention globally due to their effective chemical properties and their current and prospective applications across various technological domains. These gels are characterized by their nanostructured nature, boasting high specific surface areas, enhanced porosity, low density, diminished dielectric constant, and exceptional heat insulation properties.
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