Aerogel Market Size, Share & Trends Analysis Report By Form (Blanket, Particle, Panel, Monolith), By Product (Silica, Carbon, Polymers), By End Use, By Technology, By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global aerogel market size was estimated at USD 538.14 million in 2016 and is projected to expand at a CAGR of 22.6% during the forecast period. Factors such as efficient thermal resistance and lighter and thinner alternatives to conventional insulations are major growth drivers for the market. Industries such as oil and gas, building and construction, automotive, and aerospace and marine are prominent end users. Increasing demand for improved thermal insulation is expected to drive the market over the forecast period.

The building and construction industry is expected to be one of the key end-use segments in the market, especially with the recovery of several markets in developed regions. Buildings consume a large amount of energy; for instance, 16.6% of the overall energy in U.S. is utilized in heating and cooling of buildings. Aerogel is used in buildings for super-insulating windows, skylights, solar collector covers, and specialty windows.

Continuous changes in the environmental landscape and stringent regulations have resulted in an increased focus on and rising demand for insulated systems in industrial applications. Fabrication, construction, and operation of pipelines and other systems require a versatile insulation material that can provide the best thermal insulation. Compared to traditional insulation materials such as polyurethane foam, mineral wool, perlite, and cellular glass, this product offers much higher thermal efficiency with the same thickness.

Researchers are continuously engaged in finding low-cost and thinner alternatives for insulation. The weight of insulation material reduces with reduction in thickness. In the building and construction industry, thinner insulation materials offer benefits such as additional floor area and increased loading capacity. Some regulatory bodies have also laid down regulations for commercial buildings.

The U.K. government’s “Building Regulations Part L2A 2013”, which came into effect in April 2014, has imposed 12% reduction in carbon emissions. Buildings in Wales and Scotland that are constructed after October 1, 2015 require an aggregate uplift of 43%. This has created a high demand for thinner materials as thicker variants will result in loss of floor space.

Form Insights

Blankets, particle, panel, and monolith are the primary forms of aerogel and its properties can be altered based on the requirement by customizing the manufacturing process. Customization is also possible as its thermal conductivity is related to its density. New technologies such as x-aerogel and polymer have led to the manufacturing of non-brittle monolith aerogels. A major application for blankets is insulation for subsea pipelines in the oil and gas industry. A significant advantage provided by these blankets is enhanced energy efficiency, which in turn, results in reduced harmful emissions.

End-use Insights

Aerogel finds application in the aerospace industry, mainly for thermal insulation, due to its low conductivity. In the automotive sector, aerogel blankets are used in passenger cars, trucks, restored and modified cars, drag racers, stock cars, vans, and recreational vehicles.

Performance coating is a key end-use segment in this market. It is used for fire protection as it exhibits superior flame-resistant and flame-retardant properties. These coatings are already being used in all applications where ceramic coatings are primarily used and are slated to soon replace them in the coming years. Materials such as mineral wool, glass wool, and foam glass are being replaced by aerogels owing to its better insulation properties. These factors are expected to drive the demand globally.

Europe is a key aerogel market owing to fire safety regulations such as OSHA, which are projected to drive the usage of aerogel in performance coatings. Stringent environmental regulations, coupled with building and construction norms, are poised to allow Europe to develop at a high CAGR during the forecast period. Applications of aerogel in the building and construction sector include cavity insulation, glazing units, cladding systems, and roof membranes.

Product Insights

Phenolics, polyureas, polyurethanes, polyimides, and polyamides are the major polymers used in the production process. Polymers are known to reduce product prices to a large extent, which may result in new opportunities for various applications. Companies such as Svenska Aerogel are working to develop new technologies to significantly reduce aerogel prices.

Carbon products are considered as the lightest materials and are electrically conductive. The product is expected to be an ideal material for pollution control, water purification, and air purification. Players in the market are continuously trying to explore new application areas, which in turn, is resulting in segment growth.

Technology Insights

Supercritical drying is a process based on pressurizing and heating liquid solvent to its critical point. At this temperature, the supercritical fluid can be easily removed from the material pores by depressurizing the fluid in isothermal conditions. This can be done in two ways: by venting the solvent from the supercritical stage or through solvent exchange with a second solvent. Supercritical drying is widely used in the production of silica aerogels, thereby, supplementing demand.

Supercritical drying can be performed at low as well as high temperatures. Drying at high temperatures is the traditional way and is most commonly utilized in the industry. The material dried through high temperature possesses highly hydrophobic behavior owing to high critical temperature of various organic solvents used in sol gel chemistry.

Regional Insights

Aerogel blankets form a key segment in the North America market. Blankets are used in end-use applications such as building and construction, apparel, and industrial insulation. Favorable properties of this product include water repellence, which adds to its demand in these end-use markets. In residential and commercial buildings, aerogel insulation panels are used for daylighting and cavity-filling applications. Europe, the second-largest regional segment, accounted for a share of 17.4% in the global market in 2016, driven primarily by the building and construction industry.

Aerogel Market Share Insights

Major companies in the global market include Aspen Aerogels, Inc.; Cabot Corporation; Aerogel Technologies LLC; Nano High-Tech Co., Ltd.; Active Aerogels; Dow Corning Corporation; BASF SE; and American Aerogel Corporation. Aspen Aerogels and Cabot Corporation hold significant shares in the global arena on account of their patented technologies.

U.S.-based Aspen Aerogels, Inc. is engaged in the development and manufacturing of thermal management solutions for the insulation market. In October 2015, it announced the expansion of its production facility at Rhode Island, U.S. The new facility was designed to significantly increase the company’s production capacity.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aerogel market report on the basis of product, form, end use, technology, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Silica

  • Polymer

  • Carbon

  • Others

• Form Outlook (Revenue, USD Million, 2014 - 2025)

  • Blanket

  • Particle

  • Panel

  • Monolith

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Oil & Gas

  • Building & Construction

  • Automotive, Aerospace & Marine

  • Performance Coatings

  • Others

• Technology Outlook (Revenue, USD Million, 2014 - 2025)

  • Supercritical Drying

  • Other Drying

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa