Aerogel Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Aerogel Market is worth US$ 716.5 Mn in 2022. The market value of stainless steel is expected to reach US$ 1,892.5 Mn by 2032, growing at a CAGR of 10.2% over the forecast period.
Aerogels are a subclass of synthetic porous lightweight materials created from gels in which the gel’s liquid component has been replaced by gas without the gel’s structure significantly collapsing. The end product is solid with an incredibly low density and thermal conductivity. Numerous chemical substances can be used to create aerogels. Some polymer-based aerogels feel like stiff foams, whereas silica aerogels feel like brittle expanded polystyrene. By supercritical drying or freeze-drying, the liquid portion of a gel is removed to create aerogels.
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ChemView Consulting has analyzed that the silica-based aerogel market is driven by its excellent insulating qualities, low price, wide availability of raw materials, and adaptable manufacturing technique. The North American market held the greatest market share for aerogels worldwide, which is anticipated to dominate during the projection period. Strong consumer awareness and expanding demand from the construction and oil & gas industries support the market in the region. Additionally, the regional aerogel market is growing thanks to the established positions of the major industry participants.
According to ChemView Consulting, the main factors contributing to aerogel market production are their strong thermal resistance, high performance, and tendency to be lighter and thinner, among other qualities, due to its high demand from end-use industries as well as its affordability and accessibility, rising demand for construction and the oil & gas industries.
Segments Covered in Report
By Product Type:
- Silica Aerogel
- Polymer Aerogel
- Carbon Aerogel
By Application:
- Aerogels for Oil & Gas
- Aerogels for Marine & Aerospace
- Aerogels for Performance Coating
- Aerogels for LVHS
- Aerogels for Day-Lighting
- Aerogels for Automotive
- Aerogels for Construction
By Form:
- Monolith Aerogel
- Blanket Aerogel
- Article Aerogel
- Panel Form Aerogel
By Processing:
- Virgin Processed Aerogel
- Fabricated Aerogel
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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Key Takeaways from the Aerogel Market
- Based on the product type, with a revenue share of more than 0%, the silica aerogel product sector was the market leader in the aerogel industry.
- Based on the application, construction had the highest revenue share in the market at more than 02% in 2021.
- Based on the form, with a revenue share of more than 0%, the blanket form category dominated the market.
- With a revenue share of 8%, North America dominated the global market, and it is anticipated that it will continue to grow over the projected period. Due to its rapid application and product innovation expansion, North America has enormous growth potential. For instance, the region’s fast-increasing production of hybrid and electric vehicles is predicted to support the product demand due to its broad range of potential applications in car batteries.
Competition Summary
Key companies covered in the market study are ArcelorMittal, Nippon Steel Corporation, POSCO, JFE Steel Corporation, AK Steel, Thyssenkrupp AG, Hyundai Steel Co., Ltd., Outokumpu, Acerinox, Yieh United Steel Corp., Baosteel Group, Aperam, Jindal Stainless Limited, Gerdau and Vallourec. Aspen Aerogels, Cabot Corporation, Aerogel Technologies, Nanotech Co. Ltd., Armacell, Guangdong Alison Hi-Tech, Active Aerogels, Enersens, JIOS Aerogel.
Report Key Highlights
- Detailed information on factors that will assist Global Aerogel’s growth during the next ten years
- Assessment of the historical and current Global Aerogel Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
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