Rise in production of electric vehicles across the globe along with growth in demand for aerogels in several end-use industries are drives Growth

WILMINGTON, DELAWARE, USA, January 23, 2024 /EINPresswire.com/ -- The aerogels market has experienced substantial growth owing to a surge in demand across several sectors. In the construction industry, aerogels’ exceptional insulating properties have driven their adoption in energy-efficient building materials. Similarly, their applications in aerospace and automotive industries for thermal and acoustic insulation have witnessed a significant upswing.

Aerogels market is estimated to attain a valuation of US$ 3.2 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 13.6% during the forecast period, 2023-2031

Moreover, advancements in nanotechnology and material science have led to the development of novel aerogel compositions, enhancing their suitability for various applications. The market trend leans toward innovative formulations to expand aerogels’ functionality and versatility across industries.

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The significant players operating in the global Aerogels market are

Aspen Aerogels, Inc.
Cabot Corporation
Aerogel Technologies, LLC
Active Aerogels, LDA
BASF SE
JIOS Aerogel Corporation
Nano Technology Co., Ltd.
Dow, Inc.
Enersens
Guangdong Alison Hi-Tech
Armacell
Svenska Aerogel
Others

Aerogels Market Key Driving Trend and Demand Analysis

The silica aerogel type segment is predicted to lead the global market during the projected period, per the most recent research of the aerogels market. Silica aerogels are transparent, yet they show Rayleigh scattering, which is why the material is also known as frozen smoke and blue smoke. Compared to other forms of aerogels, silica aerogels are advantageous because they can combine low heat conductivity with excellent optical transparency.

Applications for silica aerogels include thermal insulation, laser experiments, imaging devices, sensors, waste management, and electronic devices. They are also being considered for use in these and other areas. The high insulating properties of silica aerogels, low cost, variety in the manufacturing method, and increased availability of raw materials are all factors contributing to the segment's growth.

The primary driver of the growth of the aerogels market is the expansion of the building and construction and oil and gas industries. The oil and gas industry uses aerogel coatings as insulators. Particularly in the petroleum sector, pipes are used to convey large amounts of raw oil constituents.

Aerogel's lower heat conductance and chemical inertness make it an excellent choice for pipe insulation and protection. Aerogel's distinct molecular structure acts as a barrier to heat transmission, preventing it from melting. Aerogel-based blankets for building walls and roofs are becoming more and more common in the construction industry.

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Market Segmentation –

Type
Silica Aerogels
Metal Aerogels
Carbon Aerogels
Others

Form
Monolith
Powder
Film
Others

Application
Battery Packs
Optical Fibers
Thermal & Acoustical Insulation
Electronic Devices
Capacitors
Imaging Devices
Catalysts
Pesticides
Others

End-use
Automotive
Building & Construction
Oil & Gas
Electrical & Electronics
Medical
Agriculture
Aerospace
Others

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Regional Analysis

North America: The North American aerogels market boasts significant growth, driven by robust investments in research and development. The region’s focus on energy-efficient technologies in construction and aerospace industries continues to fuel the demand for aerogels.

Europe: European countries exhibit a strong inclination towards sustainable building practices, leading to an increased adoption of aerogel-based insulation materials. Stringent regulations promoting energy-efficient solutions further bolster market growth.

Asia-Pacific: Rapid industrialization and infrastructure development in countries like China and India present vast opportunities for the aerogels market. The region’s expanding construction and automotive sectors contribute significantly to the growing demand for aerogel-based products.

This Report lets you identify the opportunities in Aerogels Market by means of a region:

North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

Reasons to Buy The Aerogels Market Report: –

1.Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.

2.Reports provide opportunities and threats faced by suppliers in the Aerogels industry around the world.

The report shows regions and sectors with the fastest growth potential.

3.A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.

4.The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.

5.This report provides the industry’s current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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