Global Silica Aerogel Market - Industry Trends and Forecast to 2029

Global Silica Aerogel Market, By Form (Blanket, Panel, Particle, Monolith), Processing (As Manufactured (Virgin), Composites, Additives), Application (Oil and Gas, Construction, Transportation, Performance Coating, Day-Lighting and LVHS, Others) – Industry Trends and Forecast to 2029.

Global Silica Aerogel Market Analysis and Size

Aerogel is known for its lighter weight than other conventional insulation products. Silica aerogels are widely being adopted in both technology and science due to their characteristics, such as low thermal conductivity, hydrophobicity, high surface area, optical transparency, and low bulk density. Aerogel has high demand in oil and gas industry, especially the petroleum industry as it carries large volume of unprocessed oil materials through pipes. It is an ideal choice for pipe insulation and protection.

• Global Silica Aerogel Market was valued at USD 946.80 million in 2021 and is expected to reach USD 1420.31 million by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029. “Oil and Gas” sector accounts for the most prominent end user segment in the respective market owing to high use of the product improving the insulation of deep-sea pipes and oil and gas pipelines.

Global Silica Aerogel Market Definition

Aerogels are a diverse class of ultralow synthetic materials that are generally derived from a gel. The liquid component of the gel is usually replaced with a gas through a process of supercritical drying. The product is composed of an interconnected nanostructure network possessing 50% porosity. The product is highly beneficial for various industries because of its features including lightweight and low thermal conductivity.

Report Scope and Market Segmentation

Silica Aerogel Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• Use in Oil and Gas Sector

The high usage of the product in the oil and gas sector across the globe acts as one of the major factors driving the growth of silica aerogel market. The unique characteristics of the product, such as low thermal conductivity, hydrophobicity, high surface area, optical transparency, and low bulk density makes it an ideal option for the oil and gas sector. This synthetic material acts as a barrier for heat transfer and does not show tendency of melting down because of its special molecular structure.

• High Demand for Construction Industry

The rise in demand for silica aerogel from the construction industry for insulating roofs and walls of buildings accelerate the market growth. The product is lighter than other conventional insulation products and thinner coating, thus it offers more resistance than the conventional plastic foam and glasses.

• Shelter Applications

The rise in the exploration of thin polymer aerogels for the use in the shelter applications, such as updating historical structures, and insulated tents, among other insulation needs.

• Popularity of Aerogel Blankets

The high use of silica aerogel in the production of aerogel blankets using fibrous reinforcements that convert inelastic aerogels to stretchy, aquaphobic and tough materials. These nonflammable blankets are highly effective in restricting the spread of fire in factories, and residential buildings, among other infrastructures.

Additionally, the surge in investments, expansion of oil and gas sector, advancements in the chemical industry and high use as interior insulation solutions for building retrofit positively affect the silica aerogel market.

Opportunities

Furthermore, development of a product line of aerogel thermal barriers for utilization in lithium-ion batteries in EVs extend profitable opportunities to the market players 2022 to 2029. Also, research and development activities to enhance the product will further expand the market.

Restraints/Challenges faced by the Silica Aerogel Market

On the other hand, high cost associated with the production of silica aerogel and complex heating and supercritical drying process are expected to obstruct the market. Also, lack of customer awareness and implementation of stringent regulations are projected to challenge the silica aerogel market in the forecast period of 2022-2029.

This silica aerogel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the silica aerogel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 had a minimal Impact on Silica Aerogel Market

COVID-19 had a negative impact on various industries including silica aerogel market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The silica aerogel industry faced huge problems due to the shortage of laborers declining the low production. The demand for silica aerogel was witnessed due to the limited production and shut down of industries, such as aerospace, oil and gas sectors, and automotive. However, the silica aerogel market is expected to witness growth in demand after the post-covid-19 situation.

Recent Development

• SunThru, a Schenectady startup established by professors Mary Carroll and Ann Anderson’86 is producing a silica aerogel in December’2021. The silica aerogel is used for triple-pane windows as it is cost-effective and energy-efficient as compared to conventional products. The firm started commercializing its insert using the help of two of its alumni.
• OrthoLite® launched OrthoLite O-Therm™, an innovative new thermal insole technology in February’2021. O-Therm possesses a new benchmark in cold-weather footwear protection by offering known benefits of open-cell PU-foam.

Global Silica Aerogel Market Scope

The silica aerogel market is segmented on the basis of form, processing and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Form

• Blanket
• Panel
• Particle
• Monolith

On the basis of form, the silica aerogel market is segmented into blanket, panel, particle, and monolith.

Processing

• As Manufactured (Virgin)
• Composites
• Additives

On the basis of Processing, the silica aerogel market is segmented into as manufactured (virgin), composites and additives.

Application

• Oil and Gas
• Construction
• Transportation
• Performance Coating
• Day-Lighting and LVHS
• Others

On the basis of application, the silica aerogel market is segmented into oil and gas, construction, transportation, performance coating, day-lighting and LVHS and others.

Silica Aerogel Market Regional Analysis/Insights

The silica aerogel market is analysed and market size insights and trends are provided by country, form, processing and application as referenced above.

The countries covered in the silica aerogel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the silica aerogel market because of the consolidated structure of the industry and product innovation and application development within the region. The rise in production of Electric Vehicles (EVs) and hybrid vehicles and high concentration of aerogel manufacturers also accelerate the market growth.

Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the implementation of energy efficiency policy mandates all buildings across countries in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Silica Aerogel Market Share Analysis

The silica aerogel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to silica aerogel market.

Some of the major players operating in the silica aerogel market are

• Active Aerogels (Portugal)
• Aspen Aerogels, Inc. (US)
• BASF SE (Germany)
• Cabot Corporation (US)
• Green Earth Aerogel Technologies (Spain)
• DuPont (US)
• HUATAO GROUP LTD. (China)
• ENERSENS (France)
• Svenska Aerogel AB (Sweden)
• Dow (US)
• JIOS Aerogel Corporation (South Korea)
• PBM Insulations Pvt. Ltd. (India)
• Acoustiblok UK (UK)
• Armacell (Europe)
• Thermablok Aerogels Limited (UK)
• Arkema (France)
• Solvay (Belgium)
• American Aerogel Corporation (US)

Research Methodology : Global Silica Aerogel Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-silica-aerogel-market