Enjoy complimentary customisation on priority with our Enterprise License!
The aerogel market size is estimated to grow at a CAGR of 10.83% between 2022 and 2027. The aerogel market size is forecast to increase by USD 558.19 million. The growth of the market depends on several factors, including growing demand for lightweight and thinner substitutes for insulation, environment-friendly properties of aerogel, and technological advancements in aerogel technology.
This aerogel market report extensively covers market segmentation by application (oil and gas, construction, automotive, marine, aerospace, performance coatings, and others), product (silica, polymer, carbon, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The environment-friendly properties of aerogel are notably driving the market growth, although factors such as the formation of dust during the manufacturing process may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The environment-friendly properties of aerogel are notably driving the market growth. Aerogel 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.
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, aerogel is gradually gaining popularity in the clothing industry. This is due to aerogel's 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.
Mountaineers who frequently carry large loads will find aerogel useful for protecting themselves from bad weather. Aerogel 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 for aerogels, 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.
Aerogel blanket materials face significant challenges from product dustiness. Since aerogels 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 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 Aerogel Market Customer Landscape
Vendors 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 offers home acoustic and thermal insulation brands. The key offerings of the company include 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 aerogel in this segment.
Get a glance at the market contribution of various segments View the PDF Sample
The oil and gas segment was valued at USD 303.68 million in 2017 and continued to grow until 2021. Unprocessed hydrocarbons are transported over long distances in a temperature-sensitive environment using aerogel. Unprocessed hydrocarbons have a tendency 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.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 43% 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 for aerogels is also anticipated to expand as a result of the increasing use of aerogel 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 aerogel in the region. Additionally, the growth of the aerospace sector in the region has increased the demand for aerogels 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 for aerogel 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 for aerogels in the region during the forecast period.
In 2020, the COVID-19 pandemic negatively impacted regional market growth. However, large-scale vaccination drives to contain the spread of COVID-19 were initiated in North America, which led to the removal of restrictions imposed. This led to the resumption of supply chain activities, which in turn, increased the aerogel demand in the region. Hence, such factors are expected to drive the growth of the regional market during the forecast period.
The aerogel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global aerogel market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Aerogel Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.83% |
Market growth 2023-2027 |
USD 558.19 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.62 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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 Inc., 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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.