Silica Aerogel Market Growth Opportunities, Driving Factors by Manufacturers, Regions, Type and Application, Forecast Analysis to 2023

Silica Aerogel Market is segmented into Form and End-Use Industry
Global Silica Aerogel Market Research: By Form (Blanket, Panel, Monolith, Others), The Application (Oil & Gas, Building Insulation, Industrial Insulation, Aerospace & Defense, Automobile And Others) – Forecast Till 2023

Industry News

Graphene Composites Ltd., a producer of aerogels, has announced the launch of grapheme composite (GC) Shields and GC Shield Wall – a flexible, lightweight shield that provides a significant degree of protection against gun or knife attacks, in the second half of 2018. The company is anticipated to commence a funding round with Crowdcube to further its product innovation and expand into new regions.

Cabot Corporation, an American firm, has increased its capacity by establishing a new facility to its worldwide network of carbon black plants. Through the combination of a plant expansion, operational improvements, and debottlenecking projects, it has increased its production power by over 300,000 metric tons. Adding this new capital efficient capacity will yield a lever for growth for the Reinforcement Materials and Performance Chemicals segments and will be conducive to the execution of their corporate financial and strategic objective.

Market Overview

Aerogel is a synthetic porous ultra-light material procured from a gel, in which the liquid element for the gel has been substituted with a gas. Aerogels are solid, dry and rigid materials that exhibit a wide range of properties such as low thermal conductivity, low bulk density, high surface area, hydrophobicity and optical transparency. Silica Aerogel is utilized mainly in textiles, electronics and construction industries. Its ability for strong sound insulation in the difficult low frequency range is expected to advance its future prospective for this market.

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The Global Silica Aerogel Market is expected to witness a remarkable CAGR from 2017 to 2023 (forecast period), according to a report by Market Research Future (MRFR). This can be credited to superior thermal insulation properties as well as being an environment-friendly material. Furthermore, Silica Aerogel is an adept substitute for conventional insulation materials. Its utilization in fabrication of apparel for low degree weather has further amplified the demand for Silica Aerogel. The increasing government investments in the construction industry has elevated the use of building insulation, which can stimulate market growth.

Market segmentation

The market is segmented by form and end-use industry. On the basis of form, the market is segmented into monolith, blanket, panel, and others. Monolithic aerogel is made of self-assembled small organic molecules, which are prepared from amino acid based supramolecular gels using carbon dioxide supercritical drying process.  On the other hand, blanket aerogels are highly breathable, low dusting and low powdering and are flexible, wrappable as well as bendable.

Major market end-users include automotive, oil & gas, building insulation, industrial insulation, aerospace & defense, and others. The oil and gas sector is the largest end user of Silica Aerogel Market. The attributing factors are high demand in refineries, subsea piping as well as petrochemicals, and gas processing plants. This particular segment is expected to exhibit a substantial CAGR during the forecast period.

In the automotive industry, aerogel can be formed into monoliths or thin films to be used in acoustic and thermal insulation, thin-film coatings, and vibration damping. In the aerospace industry, aerogel is utilized for scientific purposes, particularly as hypervelocity particle capture and thermal insulator.

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