New York, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Aerogel Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Aerogel Market Information by Application, Region, End-user, Processing, and Type - Forecast till 2030”, the market is estimated to reach USD 7.5 Billion by 2030.
Market Scope
Aerogel refers to the chemical manufactured by parting the liquid component by adopting the super drying method. It is available in both solid-state and porous. These aerogels can be called solid, cloud, blue, air, and frozen smoke. It has some popular characteristics such as being lightweight, having some fire-resistant properties, performing well, and having low conductivity power, therefore helping in market growth and its development.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 7.5 Billion |
| CAGR | 17% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application, Region, End-user, Processing, and Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The growing innovation and technological advancement are predicted to propel the growth. |
| Growing investments in the end-use industries is likely to drive the market. |
Competitive Analysis
The catalog for the leading participants across the global market for aerogel includes players such as:
- BASF SE (Germany)
- Guangdong Zhaoqing L&V Co. Ltd. (China)
- Aspen Aerogels, Inc. (U.S.)
- Active Aerogels (Portugal)
- Cabot Corporation (U.S.)
- Enersens SAS (France)
- Aerogel Technologies, LLC (Germany)
- JIOS Aerogel Limited (U.S.)
- Nano High-Tech Co., Ltd. (China)
- Svenska Aerogel AB (Sweden)
- Among others.
Market USP Covered
Market Drivers
The global aerogel market has demonstrated massive development in recent years. The market's growth is ascribed to the aspects such as low thermal conductivity and expansion in the oil & gas industry.
Market Restraints
On the other hand, product usage in the critical application for critical MRO activities is likely to hamper the market's growth.
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COVID-19 Impact
The global health hazard in the shape of COVID-19 has had a massive impact on most industry sectors. Considering the rapid spread of the infectious disease, several governments across the globe announced partial or complete lockdowns for quite a long time. Consequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for vehicles and travel restrictions imposed, the aerogel market faced several unexpected challenges during the pandemic. On the other hand, with the rapid vaccination rates and all the global industrial operations returning to normal, the market is anticipated to experience substantial development over the forecasted timeframe.
Segment Analysis
Among all the products, the silica aerogel product segment is anticipated to secure the top spot across the global market for aerogel over the assessment era. The segment's growth is ascribed to the aspects such as the exhibition of excellent heat endurance & thermal insulation properties and non-organic structures of these products. On the other hand, the polymer aerogel segment is anticipated to showcase the maximum growth rate over the assessment period given to the factors such as superior chemical & physical properties and growing applications in various end-use industries.
Among all the forms, the blanket form segment is anticipated to secure the top spot across the global market for aerogel over the assessment era. On the other hand, the particle form segment is anticipated to display the maximum growth rate over the coming years.
Among all the technologies, the supercritical drying technology segment will likely ensure the lead across the global market for aerogel over the coming years.
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Regional Analysis
The global aerogel market is analyzed across five major geographies: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The MRFR analysis reports implying that the North American region is anticipated to ensure the top position across the global market for aerogels over the assessment timeframe. The prime parameter supporting the regional market expansion is the escalating consumption of insulation materials in transportation, construction, oil & gas, and others. The rising demand for aerogel in oil and gas pipelines and its low installation costs and better compression resistance have boosted the performance of the regional market over the years. Nations such as Mexico, Canada, and the U.S. are considered the leading growth contributors across the region.
The Asia-Pacific regional market for aerogels is anticipated to showcase substantial development over the coming years owing mainly to the escalating research & development activities of Aerogel products in the leading organizations. It is anticipated that rising investments in the end-use industries will catalyze the regional market's development over the coming years. In addition, the rising consumption of insulation materials in electrical & electronics, defense, marine, and aerospace sectors has boosted the performance of the market across nations such as India, Japan, and China as they offer brilliant stability, flexibility, and low maintenance to the product.
The European regional market for aerogel is anticipated to expand considerably during the evaluation period, given mainly to the implementation of new rules and regulations imposed by the government to obey lower dense materials than steel in pipeline constructions. Furthermore, applying this rule in oil & gas, steel, and construction segments is also likely to catalyze the regional market's growth over the assessment era. In addition, the factors such as technological advancement and growing innovation are anticipated to fuel the market's growth across nations such as France, Germany, Italy, and the U.K are also projected to positively impact the performance of the regional market over the coming years.
The Latin American regional market for aerogel is anticipated to demonstrate steady growth over the projected era, given mainly to the lack of technical standardization and high cost of production across the region.
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