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Potential Substitute for conventional Insulation material

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Potential Substitute for conventional Insulation material

April 06
18:31 2021
Potential Substitute for conventional Insulation material

Browse 179 market data Tables and 66 Figures spread through 205 Pages and in-depth TOC on “Aerogel Market”
Aerogel Market by Type (Silica, Polymer, and Carbon), Form (Blanket, Panel, Particle, and Monolith), Processing (Virgin, Composites, and Additives), Application (Oil & Gas, Construction, Transportation, and Performance Coating)

Aerogels have significantly lower thermal conductivity (0.0004 W/m. K), which is 10 times lower than conventional insulation materials. The conduction through aerogels is made minimal by the solid structure and air molecules it possesses. Thus, the same insulation level (R-value) can be reached with a lesser volume of aerogel material than a conventional product, which results in valuable space savings. Usually, pores within the conventional insulation materials are found to be over 1mm in width and transfer energy via convection, but aerogel on the other side has pores as small as 20-40 nm.

The aerogel market size is estimated to be USD 638 million in 2020 and is projected reach USD 1,045 million by 2025, at a CAGR of 10.4% between 2020 and 2025. The market is mainly driven by the rising demand for aerogel from the applications oil & gas, construction, transportation, performance coating, day-lightning & LVHS, and others. Factors such as super thermal resistance, thinner and lighter alternative will drive the aerogel market. North America is the key market for aerogel, globally, followed by Europe and Asia Pacific, in terms of volume and value.

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The oil & gas application is projected to account for the largest share, in terms of volume and value, of the overall aerogel market 

Fossil fuels play a vital role in meeting the ever-increasing demand for energy. Right from generating electricity to working of automobiles, fuels such as diesel and petrol are required in one or the other way. The oil & gas segment involves exploration, extraction, refining, and selling of products obtained from crude oil. The segment generates huge revenue making it one of the important components of the world’s economy. The investments required in this segment are also quite high, considering the lead times for finding and extracting hydrocarbons. The output needs to be carefully transported to the regasification sites through long pipelines. The whole procedure takes place in challenging environments, such as subsea pipelines and rigs in Arctic waters. For the uninterrupted flow of hydrocarbons, maintaining the temperature of these pipelines is important. Hence, the oil & gas industry heavily depends on insulation.

North America is the largest region in terms of production and consumption of aerogel materials. Globally, it is the leading aerogel market in terms of product innovation, quality, and application development. The North American aerogel market is largely driven by the oil & gas application, where the demand for advanced solutions is extremely high due to its reduced thickness, superior insulating properties, and low thermal conductivity. The growing use of aerogel materials in the automotive, marine, and aerospace applications in North America is expected to drive the aerogel market.

The key market players profiled in the report include Aspen Aerogels (US), Cabot Corporation (US), Aerogel Technologies (US), Nano tech Co. Ltd. (China), Armacell (Germany), Guangdong Alison Hi-Tech (China), Active Aerogels (Portugal), Enersens (France), JIOS Aerogel (South Korea), and BASF (Germany).

The Aerogel Technologies (US) is also one of the leading suppliers of aerogel. It caters to the demand for aerogel products in North America, Europe, and APAC. It has a strong foothold in the markets in APAC, North America, and Europe. It The company has developed a new manufacturing technology that enables the production of aerogels with the durability of plastics in theoretically unlimited dimensions. This technology can enable aerogels to be used as a lightweight structural material for a wide variety of application. Armacell (Germany) launched its industrial-scale aerogel line at its new plant in Cheonan, South Korea. This development can increase the annual production of aerogel-based insulation products from 250,000 m2 to 750,000 m2.

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