Research/ Review Paper

Aerogel Market worth $1,045 million by 2025

Published: May 8, 2023
Author: TEXTILE VALUE CHAIN

The  report Aerogel Market by Type (Silica, Polymer, and Carbon), Form (Blanket, Panel, Particle, and Monolith), Processing (Virgin, Composites, and Additives), Application (Oil & Gas, Construction, Transportation, and Performance Coating) – Global Forecast to 2025″, is projected to reach USD 1,045 million by 2025, at a CAGR of 10.4% from USD 638 million in 2020. Aerogel is a porous, solid material consisting of a network-like nanostructure that displays outstanding properties, such as low density and thermal conductivity, high surface area, and flame, moisture, sound, and weather resistance. It is an advanced high-performance insulation material with high load-bearing capacity and exhibits a low optical index of refraction; low dielectric constant; a high degree of porosity; high specific surface area; and superlative thermal, acoustic, and impact damping properties.

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•  179 Market data Tables
•  66 Figures
•  205 Pages and in-depth TOC on Aerogel Market – Global Forecast to 2025″

Some of the prominent key players are:

·      Aspen Aerogels (US)

·      Cabot Corporation (US)

·      Aerogel Technologies (US)

·      Nano tech Co. Ltd. (China)

·      Armacell (Germany)

·      Guangdong Alison Hi-Tech (China)

·      Active Aerogels (Portugal)

·      Enersens (France)

·      JIOS Aerogel (South Korea)

·      BASF (Germany)

Opportunities: Potential Substitute for conventional Insulation material

Aerogels have significantly lower thermal conductivity (0.0004 W/m. K), which is 10 times lower than conventional insulation materials. The conduction through aerogels is made minimal by the solid structure and air molecules it possesses. Thus, the same insulation level (R-value) can be reached with a lesser volume of aerogel material than a conventional product, which results in valuable space savings. Usually, pores within the conventional insulation materials are found to be over 1mm in width and transfer energy via convection, but aerogel on the other side has pores as small as 20-40 nm.

Polymer was the fastest growing type segment in the aerogel market during the forecast period

Polymer aerogel material is stronger than silica aerogel. Unlike its silica counterpart, polymer aerogel has high strength, is mechanically robust, and can be used for structural applications. Organic polymer aerogels can be made from resorcinol formaldehyde, phenol formaldehyde, melamine formaldehyde, cresol formaldehyde, phenol furfuryl alcohol, polyacrylamides, polyacrylonitriles, polyacrylates, polycyanurates, polyfurfuryl alcohol, polyimides, polystyrenes, polyurethanes, polyvinyl alcohol dialdehyde, epoxies, agar, and agarose. The growth of polymer aerogels is mainly driven by its low thermal conductivity and high mechanical strength.

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APAC projected to be fastest growing region for the aerogel market during the forecast period

Growing industrialization and infrastructure development in the region offer enormous opportunities for the use of aerogel in Asia Pacific. Very few companies based in China and South Korea are involved in the production of aerogels, mainly due to the requirement of huge capital and advanced technology. The technology for producing aerogels at the commercial level is patented by leading players, such as Aspen Aerogels and Cabot Corporation. The R&D required for aerogels adds costs to the already expensive manufacturing process. These factors have been hurdles for the large-scale establishment of aerogels in Asia Pacific.

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