The global aerogel market size was valued at USD 456.7 million in 2021 and is expected to grow at a CAGR of 7.8% during the forecast period 2022 to 2028. Aerogel is a highly porous, low-density material that is derived from gel by replacing the liquid component with gas. It is also known as “frozen smoke” or “solid smoke” due to its translucent appearance and low thermal conductivity. Aerogels are highly versatile materials with unique properties, including low density, high porosity, high surface area, and excellent thermal insulation. The aerogel market includes various types of aerogel, including silica, carbon, polymer, and others. These aerogels are used in a wide range of applications, including thermal insulation, acoustic insulation, energy storage, catalysts, and more. The market for aerogel is driven by the growing demand for high-performance materials in various end-use industries such as oil & gas, construction, aerospace, automotive, and others.
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The aerogel market is witnessing significant growth owing to the increasing demand from the building and oil & gas industries. The oil & gas industry uses aerogel coatings as insulators due to their unique properties of chemical inertness and low heat conductivity, making them an ideal choice for pipe insulation and protection. Aerogel acts as a barrier for heat transfer and does not melt, making it a reliable option for insulation in the oil & gas industry. In the construction industry, aerogel-based blankets are being used to insulate roofs and walls of buildings, as they are much lighter and thinner than conventional insulation products but provide similar insulation effects. Aerogel’s thermal sensitivity value is approximately double that of plastic foam versions such as XPS and EPS, and higher than PU, making it an ideal material for thermal protection. Aerogel is also used in fire fighter’s protective clothing and incorporated into apparel such as shoes and jackets. Additionally, the aerospace and automotive industries are contributing to the growth of the aerogel market, further driving its demand.
Aerogel Market Segmentation:
1) By Type: Silica, Polymer, Carbon, Others
2) By Form: Blanket, Panel, Particle, Monolith
3) By Processing: As Manufactured (Virgin), Composites, Additives
4) By Application: Oil & Gas, Construction, Transportation, Performance Coating, Day-Lighting & LVHS, Automotive, Pharmaceuticals, Others
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Aerogel Market Regional Analysis:
The aerogel market is segmented into several regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America is expected to hold a significant share in the aerogel market due to the presence of major market players, increasing investments in R&D activities, and the growing demand for energy-efficient materials. Additionally, the increasing use of aerogels in various end-use industries, such as oil & gas, aerospace, and automotive, is driving the growth of the market in the region.
Europe is expected to witness significant growth in the aerogel market due to the increasing demand for sustainable products and the growing need for high-performance materials in the construction industry. The region is also witnessing significant investments in R&D activities, which is expected to drive the growth of the market in the coming years.
South America is expected to witness moderate growth in the aerogel market due to the increasing use of aerogels in various end-use industries such as automotive, aerospace, and construction. The growing demand for energy-efficient materials and the increasing investments in R&D activities are expected to drive the growth of the market in the region.
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The aerogel market key players are ASPEN AEROGELS, CABOT CORPORATION,AEROGEL TECHNOLOGIES, NANO TECH CO. LTD., ARMACELL, GUANGDONG ALISON HI-TECH, ACTIVE AEROGELS, ENERSENS, JIOS AEROGEL, BASF, AEROGEL UK, INTELLIGENT INSULATION
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