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The aerogel market size is estimated to grow by USD 822.1 million at a CAGR of 13.63% between 2023 and 2028. The demand for lightweight and thinner substitutes for insulation is increasing across various industries, including construction, aerospace, and automotive, driving the adoption of aerogels due to their exceptional thermal insulation properties. Additionally, the environment-friendly nature of aerogels, which are derived from silica and other natural materials, is appealing to environmentally-conscious consumers and industries seeking sustainable solutions. Technological advancements in aerogel production processes and applications are also driving market growth by enabling the development of new and innovative products with enhanced performance characteristics. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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The market share growth by the oil and gas segment will be significant during the forecast period. Long pipelines that need insulation are used to carefully transport the oil and gas refineries' output to the re-gasification sites. These pipelines are exposed to difficult environments like the Arctic and deep sea. The need for superior insulation materials with low thicknesses is what drives the demand for this segment.
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The oil and gas segment was valued at USD 336.10 million in 2018. Unprocessed hydrocarbons are transported over long distances in a temperature-sensitive environment using aerogel. Unprocessed hydrocarbons tend to clog the flow lines if the temperature is not kept at an appropriate level. The insulation of these pipelines is therefore crucial to the oil and gas industry. Considering the long lead times for finding and extracting hydrocarbons, this segment contributes significantly to the global market's high revenues. Hence, such factors will propel the growth of the oil and gas segment in the global market during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American region is anticipated to continue dominating the market during the forecast period. The region's expanding product innovation in terms of product quality and application development is the primary factor driving this growth. The oil and gas industry dominates the North American market. The market is also anticipated to expand as a result of the increasing use of these materials in automotive, marine, and aerospace applications in North America. Moreover, sustainable building methods and the use of emission-free building materials have received a lot of attention as building emissions become a growing concern in developed economies like the US and Canada. This has increased the demand for these in the region. Additionally, the growth of the aerospace sector in the region has increased the demand for these for applications such as thermal insulation in aircraft and launch vehicles, space shuttle upgrades, and life support apparel. All these factors will drive the market in the region during the forecast period.
Furthermore, the demand in North America will be fueled by the country's highly developed automotive industry and the presence of international automakers like Ford Motor Co. (Ford), General Motors Co. (General Motors), and Tesla Inc. (Tesla). These manufacturers provide thermal insulation for vehicles. Moreover, automotive end users are concentrating on increasing their regional production capacity. For instance, General Motors announced new investments in August 2022 for the development and high production of trucks at its Indiana plant. Hence, such end-user expansions will drive the demand in the region during the forecast period.
The market is seeing innovative advancements driven by the demand for efficient insulation materials and performance coatings. Mesoporous solid foam aerogels are particularly notable for their nanostructure network, which enhances their thermal and acoustic insulation properties. These materials are crucial in applications involving internal combustion engines and electric vehicles, where they provide superior ambient pressure drying capabilities and contribute to improved performance coating systems. Liquid components in aerogels are formulated to create a sponge-like structure that offers exceptional insulation and lightweight properties. This makes them ideal for a range of uses, from enhancing internal combustion engines to innovative electric vehicles designs. The development of nanostructure networks within these materials ensures high efficiency in thermal management and insulation. As product literatures highlight the growing perspectives in aerogel technology, the market continues to expand, driven by advances in insulation materials and sponge structures.
The environment-friendly properties of aerogel are notably driving the market growth. This is reusable and can be safely disposed of once its life cycle is finished. By processing it as an additive or composite, aerogel used in building insulation, for instance, can be recycled for other end-use applications, such as plasters and coatings. It can be difficult to dispose of conventional insulating materials after use without harming the environment because the majority of them are neither recyclable nor biodegradable. Aerogels, on the other hand, can be recycled as composites or additives in other applications, unlike soil conditioners, fertilizers, and performance coatings. They offer thermal resistance, are lightweight, have low density, and are fire-resistant, making them ideal for thermal insulation in various forms such as blankets, particles, panels, and monoliths.
Further, aerogel, according to Cabot, has received a Silver rating from McDonough Braungart Design Chemistry for Cradle-to-Cradle Certification. The product's compliance with a healthy and sustainable use and disposal cycle is confirmed by this certification. Hence, such factors are expected to drive the growth of the global market during the forecast period.
The growing use of apparel for colder places is an emerging trend in the market growth. In colder regions, this is gradually gaining popularity in the clothing industry. This is due to its exceptional physical characteristics, which include its ability to shield the human body from extreme temperatures. This would lead to much lighter clothing in colder climates than what is currently available.
In addition, mountaineers who frequently carry large loads will find it useful for protecting themselves from bad weather. They also has other qualities that make it perfect for use in winter clothing, including flexibility, fire and water resistance, and thermal resistance. In addition to clothing, it is used to insulate against the cold in shoes, jackets, tents, and other outdoor equipment used in harsh climates. Hence, such factors will increase the demand, which, in turn, will drive the growth of the global market during the forecast period
The formation of dust during the manufacturing process is a major challenge impeding market growth. Silica aerogel is manufactured by coating fibrous inorganic battings with silica aerogel. The aerogel is rolled up, cut, and then put into critical dryers during production. Aerogel, which has a solid structure, breaks into tiny pieces that are held together by its fiber when it is rolled up. These nano aerogel particles are created when these micro-fragments are released from fibers following the supercritical drying process. These are referred to as dust.
Moreover, aerogel blanket materials face significant challenges from product dustiness. Since they are brittle, handling and shaping them causes them to produce dust. When using the product for applications like petrochemical and oil and gas insulation, the dust may make handling difficult. Cabot has created a brand-new aerogel that fuses polymer and aerogel particles to produce a low-dust, high-temperature super-insulating material. The existence of dust presents a significant challenge for the players in the global market because this low-dust product is not yet commercially available. Hence, such factors will hamper the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Intelligent Insulation Ltd. - The company offer aerogel products under the brands Acoustiblok and Thermablok.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is witnessing significant growth driven by its diverse applications in industries such as aerospace & marine, building & construction, oil & gas, and power generation. Aerogels, known for their lightweight and highly porous structure, offer superior insulation properties compared to conventional insulation materials. They are used in Blanket form and Particle aerogels, with silica aerogels being the most common. Carbon aerogels and polymer aerogels are also gaining traction. These materials provide fire resistance, optical transparency, and are crucial in meeting energy standards. Despite their benefits, challenges remain in synthesizing aerogels and reducing their production cost compared to virgin aerogels. The market is a diverse sector with applications across industries such as Aerospace & marine industry, Building and construction industry, oil & gas, and agriculture. They are known for their fire-resistance and insulating properties, making them valuable in spacecraft insulation and building materials. They are available in various forms, including Blanket aerogels and Particle material, with Carbon aerogel and Polymer aerogel being notable types.
Further, the market's growth is fueled by advancements in aerospace engineering and the Synthesizing silica aerogel, offering solutions for thermal insulation and energy efficiency in industries reliant on fossil fuels. The market offers innovative solutions with aerogel panels and monolith structures, known for their exceptional properties such as freeze-drying and high porosity. Industries like oil & gas benefit from aerogels' unique particle form and graphene integration, providing effective solutions for thermal insulation and environmental sustainability. The market is experiencing growth driven by its thermal resistance, lightweight, and fire-resistant properties. They are used in various forms such as blankets, particles, panels, and monoliths, finding applications in industries like automotive, aerospace, healthcare, and electronics. They offer superior thermal insulation compared to conventional materials and are synthesized using silica and other raw materials. Their low density and thermal conductivity make them ideal for applications requiring high-performance insulation, such as building insulation and oil & gas.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.63% |
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Market growth 2024-2028 |
USD 822.1 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.72 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 45% |
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Key countries |
US, Germany, China, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Active Aerogels, Advanced Aerogels LLC, Aerogel Factory Co. Ltd., Aerogel Technologies LLC, Aerogel UK Ltd., Armacell International SA, Aspen Aerogels Inc., BASF SE, Cabot Corp., Dow Chemical Co., Groupe PCAS, Guangdong Alison Hi Tech Co. Ltd., Intelligent Insulation Ltd., JIOS Aerogel Pte Ltd., Nano Technology Co. Ltd., Protective Polymers Ltd., Svenska Aerogel Holding AB, Taasi Corp., Xiamen Nameite New Materials Technology Co. Ltd., and ZheJiang Surnano Aerogel Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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