The new report by Expert Market Research titled, ‘Aerogel Market Growth, Share, Size, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aerogel market, assessing the market based on its segments like types, process types, distribution channels, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 645 million
• Forecast CAGR (2023-2028): 10%
Aerogel is a brittle, and light material having a low heat conductivity, making it an excellent insulating material. A beneficial attribute of this commodity is its ability to repel water, which helps to expand its demand in specific end-use markets. Aerogel insulation panels are utilized in residential and industrial structures for daylighting and cavity filling.
North America is the largest region in terms of aerogel material development and application. It is the world’s leading aerogel industry in product growth, pricing, and application development.
Aerogel Industry Definition and Major Segments
Aerogel is a solid mesoporous foam made by removing the liquid portion of a gel and replacing it with gas. It is made up of an integrated nanostructure network with a minimum porosity of 50%.
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The market can be divided into the following segments based on type:
The market can be divided based on the form:
The market is segmented by application:
• Building Insulation
• Acoustic Insulation
• Fire Protection
• Automotive Thermal Management
• Industrial and Cryogenics
The industry end-use can be categorized as:
• Oil and Gas
• Building and Construction
• Automotive, Aerospace and Marine
• Performance Coatings
The leading regional markets for Aerogel are:
• North America
• Latin America
• Middle East and Africa
• Asia Pacific
Aerogel Market Trends
Traditional insulation textiles, such as polyurethane foam, mineral fur, rock wool, and stone wool, pose some dangers. The installation of high insulation levels in historic homes is much more complex, as extra layers contribute to improvements in a home’s visual look. As a result, aerogels are predicted to be suitable for traditional insulation materials to meet various regulatory bodies’ energy criteria and avoid structural compromises in new projects. However, producing aerogel materials necessitates a significant amount of R&D, making the entire process costly. In addition, Aerogel structures are created using synthetic procedures that are less flexible. One of the major impediments to the development of the aerogel business is its high manufacturing costs.
Key Market Players
The major players in the market are Aerogel Technologies, LLC, Aspen Aerogels, Inc., Svenska Aerogel Holding AB, Cabot Corporation, and Green Earth Aerogel Technologies, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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