Due to increasing demand and applications from various industries such as oil & gas, transportation, and constructions, and others, as well as factors such as thermal resistance, light weight and insulating properties will drive the Aerogel Market.
JERSEY CITY, N.J., March 15, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Aerogel Market" By Product (Silica, Polymers, Carbon), By Form (Blanket, Panel, Particle), By End-User (Automotive, Aerospace And Marine, Building And Construction), and By Geography. According to Verified Market Research, the Global Aerogel Market size was valued at USD 480.2 Million in 2018 and is projected to reach USD 1,122.2 Million by 2026, growing at a CAGR of 11.14% from 2019 to 2026.
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Browse in-depth TOC on "Aerogel Market"
202 - Pages
126 - Tables
37 - Figures
Global Aerogel Market Overview
Aerogel coatings are being utilized as insulators in the oil and gas industry. The oil and gas business, specifically the petroleum sector, transports large amounts of unprocessed oil products through pipes. Aerogel-based sheets are progressively has been used to insulate the rooftop of buildings in the construction sector. Aerogel is much lighter than other insulation materials. As a result of its lightweight, it can able give more resistance than traditional plastic foam and glasses, although having a much thinner coating. Aerogels can also be perforated to give long-lasting water repellency, preventing one of the most common ways for insulation to degrade and energy to be wasted. Keeping moisture out of the insulating material also helps to prevent oxidation in pipelines.
The market's expansion is projected to be hampered by the high cost of manufacturing aerogel. The high cost of producing aerogel is a key stumbling block to commercial expansion. The expense is increased by the sophisticated heating and supercritical drying process. As a result of this severe flaw in the new production technique, overall production costs rise, forcing manufacturers to raise product prices to cover the costs, negatively influencing the market growth.
Key Developments
- In December 2021, Aspen Aerogels, Inc., a technological leader in sustainability solutions, has provided an update on the termination of its supply agreement with BASF Polyurethanes.
- In April 2019, BASF SE ("BASF") and Aspen Aerogels, Inc. ("Aspen") announced the signing of an extension to their exclusive supply agreement, extending their strategic cooperation.
Key Players
The major players in the market are Cabot Corporation, BASF, Aspen Aerogels, Aerogel Technologies, Active Aerogels, Enersens, Guangdong Alison Hi-Tech, Svenska Aerogel, Nano High-Tech, and Jios Aerogel.
Verified Market Research has segmented the Global Aerogel Market On the basis of Product, Form, End-User, and Geography.
- Aerogel Market, By Product
- Silica
- Polymers
- Carbon
- Others
- Aerogel Market, By Form
- Blanket
- Panel
- Particle
- Monolith
- Aerogel Market, By End-User
- Automotive, Aerospace & Marine
- Building & Construction
- Oil & Gas
- Performance Coatings
- Others
- Aerogel Market By Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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