Global Aerogel Market Expanding at 9% CAGR

  • Aerogel is currently gaining traction in several industries, such as oil and gas, electronics, and construction.
  • Aerogel is used as a superlight concrete and wall insulator in the construction sector.
  • Aerogel is extensively employed in wetsuits, spacesuits, fire suits, spacecraft and vehicles, due to its superior thermal insulation property.

Aerogel, also known as frozen smoke, is a translucent, synthetic solid-state substance, which has an extremely low density and a texture identical to foamed polystyrene. It is derived by substituting the liquid element of the gel with a gas in a high-temperature environment.

Aerogel is light weight, highly porous, offers excellent thermal insulating properties, and exhibits a high surface area and excellent energy damping (thermal, acoustic, and impact) properties. Due to these advantages, aerogel is found in various industrial and commercial applications around the world.

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Aerogel is used as a superlight concrete and wall insulator in the construction sector.

Market Trends

At present, aerogel is widely utilized in the field of aerospace for space traveling. Due to its various properties, aerogel is currently gaining traction in several industries, such as oil and gas, electronics, and construction. Besides this, it is extensively employed in wetsuits, spacesuits, fire suits, spacecraft and vehicles, due to its superior thermal insulation property.

It is also used as a superlight concrete and wall insulator in the construction sector. Apart from this, as it has a brittle nature and high manufacturing cost, manufacturers are focusing on developing polymer-based aerogels with increased strength and flexibility to expand their consumer base. For instance, the Sweden-based aerogel-based materials manufacturer, Svenska Aerogel, recently introduced a continuous aerogel production process to significantly minimize the overall manufacturing cost.

The global aerogel market size reached $528.4 Million in 2018. Looking forward, the market value is projected to reach $886.1 Million by 2024, expanding at a CAGR of around 9% during the forecast period (2019-2024).

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Market Summary

Based on the type, the market has been segregated into silica, polymer, carbon and others. On the basis of the form, the market has been classified into blanket, particle, panel and monolith. The market has been analyzed on the basis of the processing into virgin, composites and additives. Based on the application, the market has been divided into oil and gas, construction, transportation, electronics, and others.

Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Latin

Aerogel is currently gaining traction in apparel.

America, and Middle East and Africa.

Key Players

The competitive landscape of the market has been examined with some of the key players being Aspen Aerogels Inc., BASF SE, Cabot Corporation, Dow Corning Ltd., JIOS Aerogel Ltd., Svenska Aerogel Holding AB, Enersens SAS, Active Aerogels, Nano Tech Co. Ltd., Guangdong Alison Hi-Tech Co. Ltd., Intelligent Insulation, Surnano Aerogel Co. Ltd., Taasi Corporation, Protective Polymers Ltd. and Green Earth Aerogel Technologies Limited.

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Stuart Billy

IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 
https://www.imarcgroup.com/

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