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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Aerogel Insulation Market Outlook
The global aerogel insulation market is being aided by the growing global aerogel industry, which attained USD 858.50 million in 2023. The aerogel market is further expected to grow at a CAGR of 10% in the forecast period of 2024-2032.
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North America to Drive the Aerogel Insulation Industry Growth Due to Increasing Demand in Various End Use Sectors
Due to massive product demand in various sectors, such as maritime, automobile, and oil and gas in the area, the aerogel insulation industry in North America is expected to witness a steady growth in the coming years. Aside from that, the growing need for low-density solid substances is expected to change the market environment in the forecast period. Meanwhile, the Asia Pacific aerogel insulation industry is expected to develop significantly in the coming years due to large-scale financing of several infrastructure projects in countries such as China, India, and Thailand. In addition, rapid urbanisation in Singapore, Indonesia, and the Philippines would lead to regional business growth. Big car purchases, as a result of high per capita income and spending, are expected to further propel the industry forward in the forecast period.
Aerogel Insulation: Market Segmentation
A silica aerogel is a light solid made from a gel in which gas replaces the liquid portion of the gel. Since the solvent has been removed, a "puffed-up sand"-like layer of 99 percent porosity exists. The process produces a very low density solid with many remarkable properties, especially its effectiveness as a thermal insulator. Aerogels are being used in a variety of new uses, including carbon capture, filtration, and energy storage. When utilised as insulating material, these are called aerogel insulation.
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The market is divided based on type into:
- Silica
- Polymer
- Carbon
- Others
By form, the market is segmented into:
- Blanket
- Panel
- Particle
- Block
- Others
On the basis of end use, the market is segmented into:
- Oil and Gas
- Building and Construction
- Automotive
- Aerospace and Marine
- Performance Coatings
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Electronics Industry to Aid the Market Growth of Aerogel Insulation
The development of the aerogel insulation industry will be fuelled by the shifting consumer preferences toward renewable building materials, which have the potential to reduce carbon footprints. Aerogel insulation demand growth would be accelerated by beneficial characteristics such as high porosity proportion, low-density rigid content, and core air composition. Apart from that, the aerogel insulation industry will grow in scale in the coming years due to its cost-effectiveness as a result of its efficient thermal insulating features over other high-performing insulating substances. Furthermore, the market growth is expected to be aided by the relentless developments in the electronics industry, as well as a change in the trend toward digital technologies. Furthermore, widespread product usage of a variety of electronic components, such as humidity sensors, capacitors, Geiger counters, fuel cells, soft magnets, and infrared detectors, would expand the industry's size. The massive product use in different end-use industries such as automotive, oil and gas, aerospace, building and manufacturing, premium coatings, and the maritime industry is expected to boost the market's growth in the forecast period.
Key Industry Players in the Global Aerogel Insulation Market
The report gives a detailed analysis of the following key players in the global aerogel insulation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BASF SE
- Aerogel Technologies, LLC
- Aspen Aerogels, Inc.
- Cabot Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Form |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global aerogel insulation market is being aided by the growing global aerogel industry, which attained USD 858.50 million in 2023.
The market is projected to be aided by the growing global aerogel market, which is expected to grow at a CAGR of 10% between 2024 and 2032.
The major market drivers include the rising preference for innovative building materials, the widespread product use with a variety of electronic components, and the increasing demand for aerogel insulation in various end-use sectors.
The cost-effectiveness of aerogel insulation and the growing preference for environmentally safe products are the key trends guiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include silica, polymer, and carbon, among others.
The major segments based on the form of aerogel insulation are blanket, panel, particle, and block, among others.
The different end uses of aerogel insulation are oil and gas, building and construction, automotive, aerospace and marine, and performance coatings, among others.
The key players in the aerogel insulation market are BASF SE, Aerogel Technologies, LLC, Aspen Aerogels, Inc., and Cabot Corporation, among others.
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