Aerogel Industry
Aerogel is an ultralight, highly porous, open-celled structure material that is composed of nano-structured, interconnected silica networks. It is derived from a gel that has been dried in a high-pressure chamber, resulting in a solid material with incredible thermal and acoustic insulation properties. It is usually translucent but can be dyed to give it color. It has been recognized by the U.S. Environmental Protection Agency as a safe and practical insulation material, making it highly attractive to many industries.
Aerogel has emerged as a promising material for many applications ranging from electronics, building insulation, high-performance optical components, and even shoe soles and clothing. Its thermal and acoustic insulation, fire-resistance, toughness and transparency are among the key characteristics that make it a preferred choice for these applications. As the demand for aerogel increases, the industry is expected to develop further, with groundbreaking new applications being released every year.
Aerogel Manufacturers
The global Aerogel market is estimated to reach USD 4.5 billion by 2025. The growth can be mainly attributed to the increasing demand from the automotive and construction sectors, as well as the rising demand for ultra-efficient products such as windows and doors. The reduced cost of production is also a major driver of the market, as advancements in materials and equipment have made the production process more cost-efficient.
Major aerogel manufacturers include Cabot Corporation, Aspen Aerogels, INC., UBIQ. Inc., Basf SE, Momentive Performance Materials Inc., NanoTechLabs, Aerospace Materials, and Hangzhou Gel Technology Co. Ltd. They provide a wide range of products from insulation aerogel blankets, panels, and sheets to components like mats, cords, and gaskets. These products are manufactured with various materials such as alumina, silica, glass, and titanium with customized shapes to meet customer needs.
Aerogel Market
As per the Allied Market Research, The global aerogel market was valued at $701.0 million in 2019, and is projected to reach $1,395.5 million by 2027, registering a CAGR of 9.3%.
As the aerogel market continues to experience growth, various end-use industries are expected to drive this growth. The construction industry, for instance, is expected to see a higher demand for aerogel insulation products including aerogel mats, coatings and curtains. Furthermore, the demand is expected to be driven by the increasing trend of green buildings, which require high insulation performance.
The automotive industry is also expected to be a prominent end-user as aerogel is increasingly used as a thermal, acoustic, and fire-resistant insulation material. The rising trend of manufacturing more fuel-efficient vehicles is also likely to fuel the demand for aerogel.
In addition, the increasing demand for consumer electronics and consumer goods such as footwear and apparel is expected to drive the growth of the aerogel market. The demand is mainly driven by the rising preferences for lightweight and complex shapes in consumer goods, which can be achieved using aerogel materials. The increasing usage of aerogel in consumer products such as apparel and footwear is expected to drive the market further.
The above-mentioned industries are expected to continue fueling the growth of the aerogel market in the coming years. Moreover, the development of new aerogel materials and the increasing adoption of better technology and services are expected to drive the market even further.
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The major players in the silica aerogel market include BASF SE, Dow Chemical Company, Aspen Aerogels Inc., Aerogel Technologies LLC , Cabot Corporation LLC, JIOS Aerogel Corporation, Ocellus Inc., Svenska Aerogel Holding AB, and Maero Tech Sdn Bhd.S.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Silica Aerogel Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/silica-aerogel-market/download-sampleMarket DynamicsThe increasing demand from the automotive & aerospace industry is the primary factor driving the silica aerogel market.
Also, silica aerogel characteristics such as high insulation, inexpensiveness, and abundance contribute to the silica aerogel market's growth.The Increasing demand for superior insulation in the oil & gas industry and the surging consumption of fuels among the consumers is also positively impacting the silica aerogel market's growth.
