Aerogel is known for its light weight and super-properties such as low conductivity, and fire-resistant properties. They demonstrate good grades of thermal conductivity similar to a vacuum panel which makes them ideal insulators not just to keep warmth in, but also to keep homes cool. This makes aerogel the best suitable solution for heat and sound insulation.
These ultra-light and highly compressible aerogel materials are highly porous with strong absorption capacity which makes them excellently suitable for applications in areas where fluid absorption becomes crucial such as in hospitals and clinics to absorb rapid bleeding, in O&G Company for oil-spill cleaning, in personal care products such as sanitary napkins, and diapers.
Aerogel witness a huge uptake across its end-users industries which drive the market growth, driving a substantial demand across the world. Resultantly, the Aerogel market is growing pervasively on the global platform.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to MRFR, continuing with the same trends, the Global Aerogel Market is projected to demonstrate a significant growth rate during the review period (2017 to 2023).
Increased consumption of Aerogel by some of the prominent end-user industries such as Oil & Gas and construction is one of the key factor propelling the market growth. Other factors that fuel the market growth include growing population and improving economic conditions that have substantiated the industrialization & urbanization along with the consumer purchasing power.
Global Aerogel Market – Segments
For the convenience of understanding, MRFR has segmented the report into four key dynamics.
By Types: Comprises – Silica, Polymer, and Carbon.
By Processing: Virgin, Composites, and Additives.
By Applications: Oil & Gas, Construction, Transportation and Performance Coating, among others.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
Global Aerogel Market – Regional Analysis
North America accounted for the leading market for Aerogel with the largest market share and is further estimated to grow at a significant CAGR by 2023. Factors substantiating the market growth include the growing consumption of insulation materials in oil & gas, construction, transportation, and others.
The augmenting demand for the product due to its lower installation costs and improved compression from the various end-user industries such as oil and gas pipelines mainly in the countries like the US, Canada, and Mexico has made these countries as the major contributor to the market growth, escalating the market to witness a higher growth over the assessment period.
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Globally, Asia Pacific accounts for the second-leading market for Aerogel, owning a substantial market share. Availability of cost-comprehensive labor-force and growing exports are some of the key factors substantiating the market growth in the regional. Owing to the surging demand for Aerogel backed by the growing investments in the industrial sector and improved standard of living in some of the APAC countries such as India, China, and Japan the market size is widening considerably.
Increasing research & development activities of Aerogel product in the leading companies fuelled by the growing investments in the end-user industries are expected to drive the market in the region during the forecast period. Burgeoning sectors such as aerospace, marine, defense, electrical & electronics in China, Japan, and India have allowed these countries to achieve a stunning growth in the global space, driving the consumption of insulation materials.
The Europe region is emerging as one of the promising markets for Aerogel, worldwide. Factors such as the growing implementation of new rules and regulations proposed by the government to follow lower dense materials than steel in pipeline constructions support the market growth in the region. Owing to the major growth contributor countries such as Germany, UK, and Russia fuelled by the application of this rule in O&G, and construction sectors, Europe region is expected to register phenomenal growth records over the forecast period.
The Global Aerogel Market is led by some of the fervent players including, Aspen Aerogels, Inc. (US), BASF SE (Germany), Cabot Corporation (US), Nano High-Tech Co., Ltd. (China), Aerogel Technologies, LLC (Germany), Active Aerogels (Portugal), Guangdong Zhaoqing L&V Co. Ltd. (China), Enersens SAS (France), Svenska Aerogel AB (Sweden) and JIOS Aerogel Limited (US). Profiling them in its analysis, MRFR finds out the strategies keep them at the forefront of the market competition.
Industry/ Innovation/ Related News:
March 19, 2018 – Researchers at Zhejiang University (China) published the study of carbon aerogels that they have designed in a recent issue of Nature Communications. The newly designed carbon aerogels are stretchable up to three times more than their original length, displaying elasticity same like a rubber band. Thus the added reversible stretch-ability may lead to a host of new applications of carbon aerogels.
April 05, 2018 – The research team at the department of mechanical engineering, NUS Engineering (Singapore) introduced the new material – cotton aerogel that they have developed using cotton-based fabric waste, like unwanted clothing. These materials are highly compressible, stronger and suitable for mass production hence, the production, storage, and transportation costs could be significantly reduced. Furthermore, the time span taken for manufacturing these cotton aerogel is merely eight hours and can be used for effective hemorrhage control and heat insulation.
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