Aerogel Market Research Report, Size Estimation, Industry Analysis, Global Share, Growth Trend, Business Opportunity and Forecast to 2023
Global Aerogel Market Research Report by Type (Silica, Polymer, Carbon), by Form (Blanket, Panel, Particle, Monolith), by Processing (Virgin, Composites, Additives), by Application (Oil & Gas, Construction, Transportation) – Forecast till 2023
Pune, India – August 1, 2019 /MarketersMedia/ —
Aerogel Market – Market Overview
Aerogel is porous and solid in nature known as frozen smoke, solid air, or solid cloud. Owing superior thermal resistance, lightweight and low conductivity of Aerogel, this material is used in various applications. Aerogel is easily replacing thermal insulation material, providing strong cost competitiveness among the high-performance insulation materials, thereby, expected to drive the market.
Aerogel is available in silica, polymer and carbon type. The Silica Aerogel is leading segment owing to high demand of silica in oil& gas and transportation industry. This material imparts thermal resistance and are bio compatibility with final product, giving an optimised performance. Thus, ease of application of Silica Gel is anticipated to drive over the assessment period. Moreover, silica has successful used at extreme temperature such as Mars planet which tends to rise in demand in coming years owing to rising exploration projects by NASA. The shifting trend of silica towards polymer owing to high mechanical strength of polymer leading to increasing demand in packaging and construction sector is projected to drive the market growth.
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According to form of Silica Gel, blanket segment is holding considerable number of shares in Global Aerogel Market. Increasing market penetration of blanket form of Aerogel in refineries, pipelines, and other construction material is further providing opportunity to market players. The product is highly water repellent and owns thermal degradation which is utilized for subsea thermal insulation and oil spell cleaning. Moreover, increasing demand of green or eco friendly products is likely to open new opportunity among market players. For instance, environmental carbon products are produced by Green Earth Aerogel Technologies based on agriculture waste. The market participants are investing more into development of new products with advanced technology based on regulatory norms.
Aerogel has superior insulating properties and energy efficient alternative which can easily reduce energy loss and costs. Thus, government intervention to safe electricity and expansion to new rural areas with development of energy efficient material is also likely to propel the market growth. Asia Pacific region is dominating market owing to rising infrastructure projects coupled with supportive government policies leading to strong demand of aerogel building & construction sector. The key players in this region are focusing on strategic alliances to develop new products and expand in to emerging markets. Rising demand of polymer in automotive industries especially in Germany, UK and Italy is also anticipated to drive the market growth. North America is second largest dominating region in Aerogel Market. After economic crisis, North America region is expected to grow sustainably in building and construction sector. Europe region witnessed considerable growth due to increasing automotive and aircraft production in the regions.
Aerogel Market – Competitive Analysis
Aerogel Market fragmented with presence of strong regional players from tier 1 and tier 2 market. The Key Players are focusing on high-performance products through adoption of advanced technology. New product launch coupled with partnerships or collaboration are key strategies accepted by market participants. Stringent regulation along with changing preference towards polymer and environmental friendly products are expected to drive the market growth. Other various strategies adopted by market participants are expansion, acquisition and agreements. Moreover, in order to meet customer requirement, companies are adopting high tech technologies. The Players such as Green Earth Aerogel Technologies, Aspen Aerogel Inc, and BASF are launching new products compliance with regulatory body. The key players are entering into long term agreement with distributors to maintain profit across value chain.
Industry/ Innovation/ Related News:
January 2017 – Aspen Aerogel Inc. launched a new product Pyrogel® XTE Pony Rolls™ in United States. The new pony rolls are 80 square foot sized rolled with 10 mm thick aerogel blanket insulation. With customer requirement, company produced Pyrogel XTE Pony Rolls for ease of handling and provide greater productivity on pipe and fittings. Thus, by adding pony rolls to Pyrogel, XTE, it can be used in various application like pipe racks, tunnels, and vaults.
July 2016 – BASF successfully started production of high performance insulation material made of polyurethane aerogel. The brand SLENTINE is manufactured as heavy duty panel with enhance insulation performance that can be applied as thermal insulation wedges between window indoor and outdoor, and walls. The new material provides moisture regulation even under different climate conditions.
June 2016 –BASF and Aspen has extended agreement to create new product development and supply products across to meet the global demand. This agreement has extended product portfolio with new joint development and enhance product profitability. This also benefit companies to increase production capacity of Aspen aerogel in Statesbro, GA. Moreover, supply agreement includes Aspen Aerogel Spaceloft A2 insulation product for building materials market.
April 2016 – Cabot Corporation had donated USD 400,000 of LUMIRA LA1000 aerogel to non-profit organisation. Cabot aerogel is utilised in the glass daylighting system in the Artist humanity EpicCenter expansion project. This Epic centre is largest energy positive commercial building in England. Advanced Glazing Ltd. is also now developing new line with LUMIRA known as SOLERA® for the translucent panels. The new LUMIRA aerogel helps to reduce direct sunlight, interior hot spots and glare.
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