26-Mar-2021 | Market Research Store

The Global Aerogels Market Is Powered By the Increasing Demand For Environment-Friendly Material, Construction Application Driving Aerogels Growth Across The World.

Aerogel is a transparent solid-state material with a very low density and superb thermal insulation properties. Aerogel is also called frozen smoke, which has a feel comparable to foamed polystyrene in its solid-state. Aerogels are a class of ultra-low synthetic materials made from gels in which the liquid part of the gel is supercritically dried and replaced with a gas. It is made up of a network of interconnected nanostructures with a minimum porosity of 50%. It is highly lightweight and has poor thermal conductivity, making it an excellent insulation material.

COVID-19's outbreak in 2020 has had an impact on the global economy and market scenario in major industries around the world. The limitation in industrial operations, trade practices, supply-chain uncertainty, and other events in global lockdown has resulted from the pandemic scenario. During this situation, Aerogel's main end-use sectors, such as oil and gas, construction, engineering, and shipping, were also impacted. The economy has been affected by a drop in oil prices and delays in new pipeline completion, lower demand from the automobile industry, and a partial freeze in construction activities across the globe for a few months in 2020. As a result of slow demand from end-use sectors, the high-growth aerogel industry is projected to slow down in 2020. The economy, on the other hand, is improving, and businesses have resumed operations with limited capability and in accordance with government guidelines. From the beginning of 2021, all end-use industries are projected to be fully operational, resulting in strong demand for aerogel. As a result, the demand is expected to grow at a rapid rate over the forecast period. Several applicants in the construction, oil & gas, day-lighting & lvhs, performance coating, and transportation sector have endorsed the usage of aerogels products as it can ideally enhance the product offered by many. In increasing sales, making things more recognizable and appealing to a buyer plays a critical role. This also serves to show in the shop the range of items or product combinations available.

The demand for the aerogels market was projected at around USD 630.0 million in 2019, and by the end of 2026, existing and expected developments would hit estimations of around USD 1150.0 million. The companies and experts predict the worldwide aerogels market growth in terms of CAGR of around 10.4%. The growing application of aerogels in the field of oil & gas, construction, transportation day-lighting & lvhs, and performance coating industry is expected to propel the market growth in the upcoming years.

Some of the leading and key companies in the aerogels market contain Cabot Corporation, Aspen Aerogels, Inc., Aerogel Technologies LLC, Active Aerogels, BASF SE, JIOS Aerogel Corporation, American Aerogel Corporation, Dow Corning Corporation, Nano High-Tech Co. Ltd., Enersens, Green Earth Aerogel Technologies, Ocellus, Inc., TAASI Corporation, Svenska Aerogel AB, Acoustiblok UK Ltd, Airglass AB, Gelanggang Kencana Sdn. Bhd., Blueshift Materials, Inc., Surnano Aerogel Co., Ltd., Intelligent Insulation, among others.

The demand for aerogels is expected to be driven by the region's rising demand for improved thermal insulation. The advancement of the construction and oil & gas industries is propelling the aerogel industry forward due to aerogel coatings are used as insulators in the oil and gas industry. The oil and gas sector, specifically the petroleum industry, transports large amounts of unprocessed oil products by pipes. Aerogel is an excellent alternative for pipe insulation and safety due to its chemical inertness and low heat conductivity. Because of its particular molecular structure, aerogel serves as a heat shield and therefore does not melt. Aerogel-based blankets are increasingly being used to insulate roofs and walls of buildings in the construction industry. Aerogel is much thinner than most types of insulation. As a result of its lightweight, it is able to have greater strength than traditional plastic foam and lenses, while having a much thinner covering. As compared to plastic foam and glass, a thinner coating of aerogel will have a similar insulation effect. In addition, the rapid growth in the building and construction industry is anticipated to impact positively the demand for aerogel as several commercial, residential and infrastructure projects rise in the worldwide region. Growing globalization, which has resulted in an increase in investments, and properties of aerogel such as high insulation, low cost, and ample raw material supply leads to propel the global aerogel market's expansion. Major developments in aerogel technology, as well as significant investments by leading research and development manufacturers, are expected to propel the global aerogels market in the upcoming years. However, the high production cost of aerogels may hamper the global aerogels market.

The global aerogels market is segmented as type, form, processing, and application. By type segment, the market is segmented into carbon, polymer, silica, and others. By form segment, the market is segmented into particle, panel, blanket, and monolith. By processing segment, the market is segmented into composites, manufactured, and additives. By application, the market is segmented into construction, oil & gas, day-lighting & lvhs, performance coating, transportation, and others.

Browse the full “Aerogels Market By Type (Silica, Polymer, Carbon, and Others), By Form (Blanket, Panel, Particle, and Monolith), By Processing (Manufactured, Composites, and Additives), and By Application (Oil & Gas, Construction, Performance Coating, Day-Lighting & LVHS, Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/aerogels-market-828557

In terms of geography, North America represents a higher demand for the aerogels market followed by the Europe region. In North America, there is a growing market for building and construction, apparel, and industrial insulation, which fuels the demand for aerogels. The widespread use of inoculants in major countries such as the United States and Canada is a major factor in the region's substantial agricultural inoculant market share. Europe was the second-largest regional segment driven primarily by the building & construction industry in 2019. Western European countries such as Germany, the United Kingdom, France, and Sweden are driving the market. Energy-saving regulations in a variety of sectors, including oil and gas, mining, and residential housing, are boosting demand for advanced insulation materials, which is driving demand for aerogels in the city. High-end automotive and other industrial industries, which contribute to the growing aerogel market, need lightweight and high-performance materials. Cabot Corporation's activities in Europe dominate the European aerogel industry. The Asia Pacific region is the most rapidly developing region in the aerogels industry. Furthermore, the arrival of big players is projected to increase demand even further. The strong involvement of prominent suppliers of aerogels, as well as private company investment in the production and growth of R&D operations, are all planned to drive the province's demand for aerogels.

Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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