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Silica Aerogel 2022 Global Market Size, Demands, Growth and Top Key Players Analysis Report

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Silica Aerogel 2022 Global Market Size, Demands, Growth and Top Key Players Analysis Report

April 22
21:49 2022
Silica Aerogel 2022 Global Market Size, Demands, Growth and Top Key Players Analysis Report

Market Overview

The aerogel market size is estimated to be USD 638 million in 2020 and is projected to reach USD 1,045 million by 227, at a CAGR of 10.4% between 2020 and 2027. The market is mainly driven by the rising demand for aerogel from oil & gas, construction, transportation, performance coating, day-lighting & LVHS, and others. Factors such as super thermal resistance and thinner and lighter alternatives will drive the aerogel market. North America is the critical market for aerogel globally, followed by Europe and the Asia Pacific in volume and value.

A slump in oil price and delay in a new pipeline installation, less demand from the automotive sector, and a temporary halt in construction activities across the globe for a few months in 2020 have impacted the market. The high-growth aerogel market is expected to witness relatively slower growth in 2020 due to slow demand from end-use industries. However, the global market is recovering, as the industries have started operations with reduced capacity and following government guidelines.

Due to their low thermal conductivity and less thickness, aerogel materials can save substantial energy, which otherwise would have been used for heating and cooling purposes. Aerogels are used for apparel in cold regions due to their properties, such as low weight and low thermal conductivity.

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Market Segmentation

The silica aerogel market segmentation is as follows:

Type-based segmentation

  • Silica
  • Polymer
  • Carbon
  • Others
    • Metals
    • Metal Oxide
    • Metal Chalcogenides

Form-based segmentation

  • Blanket
  • Panel
  • Particle
  • Monolith

Process-based Segmentation

  • As Manufactured (Virgin)
  • Composites
  • Additives

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Application-based segmentation

  • Oil & Gas
  • Construction
  • Transportation
    • Automotive
    • Marine
    • Aerospace
  • Performance Coating
  • Day-Lighting & LVHS
  • Others
    • Pharmaceuticals
    • Industrial & Cryogenics

Regional Analysis

North America is the largest region in the production and consumption of aerogel materials. Globally, it is the leading aerogel market for product innovation, quality, and application development. The North American aerogel market is primarily driven by the oil & gas application, where the demand for advanced solutions is exceptionally high due to their reduced thickness, superior insulating properties, and low thermal conductivity. The growing use of aerogel materials in many industries like automotive, marine, and aerospace applications in North America is expected to drive the silica aerogel market.

The key players in the silica aerogel market are as follows:

  • Aspen Aerogels (US)
  • Guangdong Alison Hi-Tech (China)
  • Nanotech Co. Ltd. (China)
  • Cabot Corporation (US)
  • Armacell (Germany)
  • Aerogel Technologies (US)

Industry News

Aerogel Technologies (US) is also one of the leading suppliers of aerogel. It caters to the demand for aerogel products in North America, Europe, and the APAC region. It has a strong foothold in APAC, North America, and Europe markets. The globally operating company has developed a new manufacturing technology that enables the production of aerogels with the durability of plastics in theoretically unlimited dimensions. This technology can enable aerogels to be used as a lightweight structural material for various applications. Armacell (Germany) had launched its industrial-scale aerogel line at its new plant in Cheonan, South Korea. The market development can increase the annual production of aerogel-based insulation products from 250,000 m2 to 750,000 m2.

 

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