An aerogel is a synthetic, porous, lightweight, and moisture resistant material derived from a gel where the liquid components of the gel are replaced by gas or air, without disturbing the gel structure. These high surface porous solids are made by creating a gel first and then extracting the solvent using a supercritical fluid extraction process and are highly preferred due to lightweight and low heat conduction for achieving optimal insulation.
Most of the aerogels are prepared based on the sol-gel process in which nanosized sol particles are simultaneously formed in the precursor solution initiated by a certain catalyst. The sol particles gradually come together and grow into small particle clusters, and these small clusters collide with each other to form a larger particle cluster and form a continuous network cluster. Silica aerogel is one of the most commonly used inorganic aerogels. The porous nature of aerogel makes it one of the finest insulation materials available in the market today.
The global aerogel market size reached USD 703.0 Million in 2021 and is predicted to register a CAGR of 10.8% and reach market valuation of USD 1,759.7 Million in 2030. Rise in demand for better insulating materials, increasing focus and initiatives towards reduction of carbon emissions, and straightforward availability of silica aerogels are some major factors driving aerogel market revenue growth.
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Top Companies in Aerogel Industry:
Aspen Aerogels, Inc., Cabot Corporation, Aerogel Technologies, LLC, Guangdong Alison Hi-Tech Co., Ltd., Active Aerogels, Enersens, JIOS Aerogel Corporation, Armacell, Svenska Aerogel AB, and Green Earth Aerogel Technologies.
Over the recent years, there has been rapid increase in environmental concerns, depletion of fossil fuels, and water pollution. Aerogel has a great potential for environmental applications and curbing the rising issues. It helps by degrading various detrimental dyes such as rhodamine B, methylene blue, congo red, and methyl orange among others.
The recently developed aerogels based on polymer nanofibers have ultralow thermal conductivity and density, designable multifunction, and excellent elasticity. Factors such as rising application of aerogel in construction and oil and gas industries, growing demand for thermal resistant products, and increasing inclination towards reduction of carbon emissions are expected to drive global market revenue growth during the forecast period.
High manufacturing costs of aerogels due to fluctuating raw material prices, high capital investments, and structural brittleness in traditional pure inorganic aerogels are some key factors that can hamper revenue growth of the market during the forecast period. To cater to these problems many market players are focused on simplifying the manufacturing process and improving the structural integrity.
Key Highlights From Aerogel Study:
- Silica segment accounted for largest revenue share in 2020 and is predicted to register a substantially rapid revenue CAGR during the forecast period. Silica-based aerogels are widely known for top surface area, low thermal conductivity, optical transparency, and high optical transmission. Silica aerogels also are used or considered for uses in sensors, waste management, thermal insulation, et al. .
- Blanket segment is predicted to register a significantly robust revenue growth rate over the forecast period. it had been the first commercial aerogel form used for various applications such as thermal insulation in residential and commercial buildings.
- Asia Pacific market is predicted to register fastest growth rate during the forecast period due to increasing research & development activities of aerogel products and investment by leading companies to expand product portfolio. Increasing application of aerogel in various sectors like pharmaceutical, transportation, and automotive is additionally propelling growth of the market in this region.
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