Aerogel Market: Supercritical Drying Technology Segment Led And Accounted For A Revenue Share

 Aerogel Industry Overview

The global aerogel market size is expected to reach USD 2.52 billion by 2028, registering a CAGR of 15.1% over the forecast period, according to a new report by Grand View Research, Inc. Growing product usage for insulation applications in various industries, such as automotive, aerospace & defense, building & construction, oil & gas, and other industries, is expected to drive the market.

 

Aerogels provide innovative and eco-friendly solutions for light-diffusing and high-performance insulation in architectural daylighting applications. Cabot Corp. provides LUMIRA aerogel, water-repelling particles produced through a subcritical drying process that exhibits a broader scope of applications including subsea pipe insulation and daylighting.

Various agencies like NASA are further researching on the aerogel material to broaden its application scope in exploring potential applications of thin polymer aerogels in cryogenics or spacesuits. In addition, the market is expected to witness additional research for novel applications, such as hydrogen storage media and supercapacitors.


Aerogel Market Segmentation

Grand View Research has segmented the global aerogel market on the basis of product, form, end-use, technology, and region:

Based on the Product Insights, the market is segmented into Silica, Polymers, Carbon, and Others.

  • The silica aerogel product segment led the aerogel market in 2020 accounting for a revenue share of more than 67%. This is attributed to the non-organic structures of these products, which are non-combustible and can bear heat up to 1,4000 Thus, they exhibit excellent heat endurance and thermal insulation properties, which boosts their demand.

 

  • Polymer aerogel products are expected to witness the fastest CAGR of 20% during the forecast period on account of their superior chemical and physical properties as compared to their silica counterparts. Polymer aerogels have applications in various end-use industries including defense, electrical & electronics, building and construction, and several others.

 

Based on the End-use Insights, the market is segmented into Oil & Gas, Building & Construction, Automotive, Aerospace & Marine, Performance Coatings, and Other End-uses.

  • The oil & gas end-use segment led the market in 2020 with a revenue share of more than 64%. Construction, fabrication, operation of pipelines, and other systems require a versatile insulation material, such as aerogel, that exhibits high porosity, low-density, low dielectric constant, and excellent heat insulation properties.

 

  • The performance coatings end-use segment is expected to witness a notable CAGR of more than 16% over the forecast period. Conventional insulating additive materials based on polyurethanes, polyolefins, and polystyrene offer poor mechanical stability, on the other hand, aerogel offers low thermal conductivity and high moisture resistance.

 

Based on the Form Insights, the market is segmented into Blanket, Particle, Panel, and Monolith.

  • Aerogel blankets can also be integrated with PTF membranes to enhance their thermal insulation performance without the addition of unnecessary weight to the membranes. This, in turn, is expected to further drive product usage in the building & construction industry. In addition, growing product usage in industrial insulation is expected to benefit the industry growth.

 

  • The particle form segment is expected to witness a notable CAGR of 16.7% over the forecast years on account of their superior thermal and light diffusion properties. These particles have strong flowability, and therefore are easy to handle and transport. The granules are particularly used for daylighting and aerogel powder as performance additives.

 

Based on the Technology Insights, the market is segmented into Supercritical Drying, and Other Technologies.

  • The supercritical drying technology segment led the market and accounted for a revenue share of more than 74% in 2020. Supercritical drying of aerogels is considered the most important step during aerogel production since it preserves their three-dimensional pore structures. This leads to unique properties, such as low density and a large surface area of aerogels.

 

  • Other technologies are also expected to witness significant growth over the forecast period. The other major aerogel production processes include ambient pressure drying with matrix strengthening technology and freeze-drying. Ambient pressure drying without matrix strengthening technology leads to shrinkage of the material and also loses its porous structure.

 

Aerogel Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies & Market Share Insights

Growing concerns regarding sustainability owing to the climate changes are making the companies and industries adhere to the strict environmental standards and improvise existing materials and technologies to meet the standard requirements and specifications. Key players are employing various strategies, such as promotion through media and organization of business conventions, to enhance their presence in the market. Several companies are also collaborating with associations to develop applications for specific industries. Companies are also gaining exclusive rights to sell products from major brands. Some prominent players in the global aerogel market include:

  • Cabot Corp.
  • BASF SE
  • Nano Technology Co., Ltd.
  • Dow, Inc.
  • Enersens

 

Order a free sample PDF of the Aerogel Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

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Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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