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Global Aerogel Insulation Market size was valued at over USD 600 million in 2018 and is anticipated to witness a CAGR over 20% up to 2025.
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Shifting consumer preferences towards green building materials in the construction sector for reducing carbon footprints in the environment will enhance the aerogel insulation market. Key properties such as extremely low-density solid material, high degree of porosity, and primary composition of air will boost the industry growth. High cost effectiveness owing to the efficient thermal insulation properties as compared to the high performance of other insulating materials will propel the business expansion. In addition, growing popularity of the powder beads among builders & contractors for efficient energy conservation will further augment the industry landscape.
|Market Size in 2018:||600 Million (USD)|
|Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||20%|
|2025 Value Projection:||2.5 Billion (USD)|
|Historical Data for:||2014 to 2018|
|No. of Pages:||350|
|Tables, Charts & Figures:||313|
|Segments covered:||Type, Form, End-Use and Region|
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Continuous incorporation of technological advancements and innovation in the electronics industry coupled with shifting trend towards digital platforms will enhance the market growth. Increasing product usage in numerous electronic components such as capacitors, fuel cell, humidity sensors, an infrared detector, soft magnets and Geiger counter due to its insulating property will promulgate the business size. Besides, rising demand for the demand for various semiconductor components due to major focus on Internet of Things (IoT) technology will further propel the market growth.
Rising product demand in several end use industries such as automobile, aerospace, and marine industry, oil & gas, performance coatings, and building & construction will influence aerogel insulation market size. For instance, as per American Burn Association, over 4000 hospitalizations are made each year due to occupational contact burn injuries which in return will propel the product demand in the market. Moreover, in order to comply with internal safety guidelines and OSHA regulations, builders and contractors are focusing on high functional insulating materials which will provide strong outlook for the business expansion.
Significant technological advancements in the field of acoustic solutions and enhanced thermal properties will fuel the market growth. Surging consumer spending on several electronic equipments along with easy installation due to its structural advantage will boost the industry size. Strict regulations and standards pertaining to the safe environment conditions at the workplace will boost the business growth. For instance, ASTM standards C1055 and C1057 provides system specifiers and process engineers guidelines to make work environment safe from burn hazards. However, lack of awareness pertaining to the advantages coupled with fluctuations in material prices may hamper the overall industry landscape.
Aerogel Insulation Market, By Type
Global aerogel insulation market from silica is anticipated to surpass USD 2.5 billion up to 2025. Surging consumer demand for high end materials for several building & construction applications will boost the product portfolio. Key benefits including low density, low dielectric constant, and excellent heat prevention have enabled wide scale use of these materials, which in return will boost the product penetration in the business. Besides, growing applications of recycled silica aerogel in construction sector along with the increased usage in the electronics industry will further stimulate the segment growth.
Carbon is anticipated to witness significant gains exceeding 15% over the projected time period in the overall aerogel insulation market. Key features such as high conductance nature and excellent structural property will provide strong outlook for the business expansion in the forecast period. In addition, high surface area, low density, and porous structure are among the major properties which in return will augment the segment demand in the forecast time frame.
Aerogel Insulation Market, By Form
Global aerogel insulation market from blanket form is anticipated to surpass USD 1 billion up to 2025. Increasing product usage in several industries such as building, factories, and oil & gas industrial equipments will promulgate the business expansion. Key benefits including high performance under high degree of compression and temperature conditions will boost the product portfolio. Additionally, major properties including high resistance to moisture, flame spread, and smoke emission coupled with lighter weight will proliferate the overall segment growth.
Panel is anticipated to observe gains exceeding 20% over the forecast period in the overall aerogel insulation market. Panel is a porous and synthetic composite form which is suitable for high performance insulation usage. Increasing demand in several thermal protection applications such oil ducts, pipelines, buildings, atmospheric balloons, and re-entry vehicles will stimulate the segment growth in the overall industry.
Aerogel Insulation Market, By End-Use
Building and construction accounted for over 25% share in the overall aerogel insulation market. An upsurge in the adoption of green building programs over different regions across the globe will propel the industry size. Increasing consumer spending on sustainable building solutions for the effective energy conservation will provide positive outlook for the business growth. Additionally, growing awareness pertaining to the energy wastage and reduction of carbon footprints in the environment will support segment growth in the overall industry.
Automotive, aerospace, and marine is projected to surpass 12 million square meter up to 2025. Rapid technological advancements field of artificial intelligence and Internet of Things coupled with the steady development of smart cities across the globe will enhance the business share. Moreover, rising demand for the replacement parts, continuous innovations in the damage free automobiles parts, and extensive product usage in the manufacturing processes will influence the overall industry landscape.
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Aerogel Insulation Market, By Region
Asia Pacific will witness a significant growth of more than 25% in the forecast time frame. Rising investments in several infrastructure projects among the emerging economies including India, Malaysia, Thailand, Oman, and UAE will propel the regional industry growth. Rapid urbanization and industrial development in numerous economies including Singapore, Philippines, and Indonesia will provide strong outlook for the business expansion. In addition, upsurge in the overall automotive sales due to the rising disposable income will further proliferate the industry growth across the region.
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North America accounted for more than 40% of the overall aerogel insulation market in 2018. Growing product demand among several sectors including marine, oil & gas, and automotive, and the increasing requirement for low density solid material will augment the industry landscape in the region. Surging necessity for eco-friendly environment chemicals in the manufacturing of several products will enhance the business growth. In addition, rising awareness pertaining to the energy conservation, smart & sustainable infrastructure, and IoT will boost the industry size across North America.
Competitive Market Share
Global aerogel insulation market share is competitive due to the presence of large, medium, multinational, and domestic players operating comprehensively in the business. Key industry players include BASF, Aerogel Technologies, Aspen Aerogels, Cabot Corporation, Svenska Aerogel, Green Earth Aerogel Technologies, American Aerogel Corporation, Active Aerogels, and Enersens SAS. Product enhancement, strategic partnership, portfolio expansion, mergers & acquisitions, and supply chain agreements are among the major strategies adopted by the industry participants. For instance, on 3rd April 2019, BASF SE announced strategic partnership with Aspen Aerogels. This partnership helped both the companies to produce and deliver new non-combustible high-performance thermal insulation product SLENTEX across the globe.
Global market is driven by rapid technological advancements and innovations across different sectors including construction, automotive, and performance coatings. Rising construction expenses and surging industrialization in the developing economies such as South Africa, India, South Korea, Thailand, UAE, Indonesia, Oman, and Philippines will augment the need for better insulation options for limited energy usage. In addition, stringent regulations imposed by several government bodies pertaining to the work safety environment will proliferate the aerogel insulation industry. Emerging economies such as Brazil, Argentina, India, and Qatar will substantially impact the material development due to large customer base along with increasing preferences for modern structure installations.