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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Rising Demand for Aerogel as an Ideal Substitute for Conventional Insulation Materials to Propel the Market Growth
There are certain risks of conventional insulation fabrics, such as polyurethane foam, mineral fur, rock wool, and stone wool. For old homes, the installation of high insulation levels is much difficult, as additional layers contribute to improvements in the aesthetic appearance of a home. Therefore, aerogels are expected to be an ideal substitute for conventional insulation materials to meet energy requirements set by different regulatory bodies and to prevent structural compromises in new constructions. Aerogel's high manufacturing costs are one of the main restrictions impacting the development of the aerogel industry. It needs substantial R&D to produce aerogel materials, which makes the whole process expensive. Synthetic processes used to create aerogel structures are not as flexible. As the processing mechanisms are extremely specialised, Aerogel manufacturing requires a sophisticated facility. Supercritical drying is the costliest step in the aerogel manufacturing process.
Aerogel Market Report Snapshots
*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
In 2023, the market attained a value of nearly USD 944.35 million.
The market is estimated to grow at a CAGR of 10% between 2024 and 2032.
The rising requirement for advanced solutions in the oil and gas sector, the growing use of aerogel materials in the aerospace and automotive sectors, and the rising use of aerogel insulation panels in residential and industrial buildings are the major market drivers.
The key trends propelling the market growth include innovations in aerogel manufacturing and the growing use of aerogel as a substitute for conventional insulation materials to meet energy requirements.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of aerogel in the considered in the market report are silica, polymer, and carbon, among others.
The significant forms of aerogel considered in the market report are blankets, panel, particle, and block, among others.
The different applications of aerogel are building insulaton, acoustic insulation, day-lighting, fire protection, automotive thermal management, and industrial and cryogenics, among others.
The various end uses of aerogel are oil and gas, building and construction, automotive, aerospace and marine, and performance coatings, among others.
The major players in the market are Aerogel Technologies, LLC, Aspen Aerogels, Inc., Svenska Aerogel Holding AB, Cabot Corporation, and Green Earth Aerogel Technologies, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124