Silica Aerogel Market Overview and Forecast by 2031
The Silica Aerogel Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Silica Aerogel Market covers analysis by Form (Blanket, Panel, Monolith, Others); Application (Oil and Gas, Automotive, Building Installation, Chemicals, Aerospace, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Silica aerogel is a highly porous, low-density material made from silica (silicon dioxide) and is often used as a thermal insulator. It is made by removing the liquid from a gel through a process called supercritical drying. Aerogels are known for their low thermal conductivity and high surface area, making them useful in a variety of applications such as insulation, filtration, and energy storage.
Purpose of the ReportThe report Silica Aerogel Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Silica Aerogel Market Segmentation
Form- Blanket
- Panel
- Monolith
- Oil and Gas
- Automotive
- Building Installation
- Chemicals
- Aerospace
Strategic Insights
Silica Aerogel Market Growth Drivers- Rise in Demand for Insulation Materials: Silica aerogels are emerging as the most popular for their highly lightweight and extremely efficient thermal insulation. With increasing energy efficiency in construction, oil and gas, automotive, and other industries, silica aerogels have increasingly found a market within such industries. This is because silica aerogels are well-known for their great insulating properties, meaning they help significantly reduce energy costs, thus making them useful in many applications.
- Increased Demand for Light Materials: The fact that silica aerogels are in demand speaks very well of them in the market, with their aerospace and automotive applications developing lightweight materials to improve the efficiency of their vehicles and the amount of fuel consumed. Thus, it is suitable for a lightweight structure where insulation-panel-related applications and protective coatings are concerned.
- Progress in Nanotechnology: Introduction of silica aerogels of nanotechnology and, thus continuous development of it, is the main factor driving their acceptance. As improvements of silica aerogels to become economically viable and scalable improve, industries start utilizing the various manifestations of enhanced performance in insulation, filtration, and drug delivery that lead to greater application scope and market demand for silica aerogels.
- Improved Techniques of Production: Continued research into more scalable and cost-effective production processes for silica aerogels will allow for more open access to them. Improved synthesis, such as those with supercritical drying, is anticipated to make the economics of production more appealing in different sectors, including construction, automotive, and aerospace.
- Growing Use in Architectural Insulation: These have been glowing lines and will considerably increase applications of silica aerogels in building insulation as green building codes and energy-efficient construction gain traction. With energetic legislative demands for buildings to start performing better thermally, silica aerogels will greatly contribute to both residential and commercial segments in high-performance insulation solutions.
- Designing Aerogel Composites: The next step scientists will take in the future of silica aerogels will include their incorporation with composites. By combining silica aerogels with additional materials such as polymers, carbon fibers, and metals, manufacturers can build novel materials with specific desired properties, i.e., higher strengths, lower thermal conductivities, and better durability, which will exponentially develop their application range.
- Growth in Aerospace and Aviation Industries: There is a fair promise for silica aerogels in aerospace applications, which are lightweight and insulating. With more and more demands on efficiency in aircraft insulation and high performance in extreme applications on space missions, silica aerogels have a bright future in aerospace. Both thermal insulation and structural composites will be areas of application.
- Rising Usage in Automotive Applications: With the present shift in the automobile industry towards lighter vehicles, silica aerogels have a great chance. Manufacturers can design vehicle insulation systems and structural components using aerogels, thus reducing weight and improving thermal efficiency, resulting in much savings in fuel consumption and efficiency levels of performance with vehicles, especially electric and hybrid drive vehicles.
- Adopting into Renewable Power Plants: Silica aerogels could therefore come into their own in a world where renewable energy will power everything by extending solar thermal and wind energy applications-based efficiencies. Their insulation would ensure that operational temperatures remain ideal in solar collectors and turbines and, therefore, present new markets in renewable energy.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Silica Aerogel Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Silica Aerogel Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Silica Aerogel Market is estimated to witness a CAGR of 8% from 2023 to 2031
Growing demand for lightweight materials is a key driver in the market
Aerogel Technologies, LLC., ASPEN AEROGELS, INC., Cabot Corporation, Guangdong Alison Hi-Tech Co.,Ltd, JIOS Aerogel Corporation, NanoPore, Incorporated, Ocellus, Inc., Svenska Aerogel AB, The Dow Chemical Company, and Thermablok, Inc are some of the key players in the market.
The epoxy type segment accounted for the largest market share in 2023
The North America market is expected to account for the highest CAGR during the forecast period, owing to the growing aerosace industry in the region.
Expansion in energy storage sector is an emerging trend in the market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Silica Aerogel Market - By Form
1.3.2 Silica Aerogel Market - By Application
1.3.3 Silica Aerogel Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. SILICA AEROGEL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SILICA AEROGEL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SILICA AEROGEL MARKET - GLOBAL MARKET ANALYSIS
6.1. SILICA AEROGEL - GLOBAL MARKET OVERVIEW
6.2. SILICA AEROGEL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SILICA AEROGEL MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. BLANKET
7.3.1. Overview
7.3.2. Blanket Market Forecast and Analysis
7.4. PANEL
7.4.1. Overview
7.4.2. Panel Market Forecast and Analysis
7.5. MONOLITH
7.5.1. Overview
7.5.2. Monolith Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. SILICA AEROGEL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. OIL AND GAS
8.3.1. Overview
8.3.2. Oil and Gas Market Forecast and Analysis
8.4. AUTOMOTIVE
8.4.1. Overview
8.4.2. Automotive Market Forecast and Analysis
8.5. BUILDING INSTALLATION
8.5.1. Overview
8.5.2. Building Installation Market Forecast and Analysis
8.6. CHEMICALS
8.6.1. Overview
8.6.2. Chemicals Market Forecast and Analysis
8.7. AEROSPACE
8.7.1. Overview
8.7.2. Aerospace Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. SILICA AEROGEL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Silica Aerogel Market Overview
9.1.2 North America Silica Aerogel Market Forecasts and Analysis
9.1.3 North America Silica Aerogel Market Forecasts and Analysis - By Form
9.1.4 North America Silica Aerogel Market Forecasts and Analysis - By Application
9.1.5 North America Silica Aerogel Market Forecasts and Analysis - By Countries
9.1.5.1 United States Silica Aerogel Market
9.1.5.1.1 United States Silica Aerogel Market by Form
9.1.5.1.2 United States Silica Aerogel Market by Application
9.1.5.2 Canada Silica Aerogel Market
9.1.5.2.1 Canada Silica Aerogel Market by Form
9.1.5.2.2 Canada Silica Aerogel Market by Application
9.1.5.3 Mexico Silica Aerogel Market
9.1.5.3.1 Mexico Silica Aerogel Market by Form
9.1.5.3.2 Mexico Silica Aerogel Market by Application
9.2. EUROPE
9.2.1 Europe Silica Aerogel Market Overview
9.2.2 Europe Silica Aerogel Market Forecasts and Analysis
9.2.3 Europe Silica Aerogel Market Forecasts and Analysis - By Form
9.2.4 Europe Silica Aerogel Market Forecasts and Analysis - By Application
9.2.5 Europe Silica Aerogel Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Silica Aerogel Market
9.2.5.1.1 Germany Silica Aerogel Market by Form
9.2.5.1.2 Germany Silica Aerogel Market by Application
9.2.5.2 France Silica Aerogel Market
9.2.5.2.1 France Silica Aerogel Market by Form
9.2.5.2.2 France Silica Aerogel Market by Application
9.2.5.3 Italy Silica Aerogel Market
9.2.5.3.1 Italy Silica Aerogel Market by Form
9.2.5.3.2 Italy Silica Aerogel Market by Application
9.2.5.4 United Kingdom Silica Aerogel Market
9.2.5.4.1 United Kingdom Silica Aerogel Market by Form
9.2.5.4.2 United Kingdom Silica Aerogel Market by Application
9.2.5.5 Russia Silica Aerogel Market
9.2.5.5.1 Russia Silica Aerogel Market by Form
9.2.5.5.2 Russia Silica Aerogel Market by Application
9.2.5.6 Rest of Europe Silica Aerogel Market
9.2.5.6.1 Rest of Europe Silica Aerogel Market by Form
9.2.5.6.2 Rest of Europe Silica Aerogel Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Silica Aerogel Market Overview
9.3.2 Asia-Pacific Silica Aerogel Market Forecasts and Analysis
9.3.3 Asia-Pacific Silica Aerogel Market Forecasts and Analysis - By Form
9.3.4 Asia-Pacific Silica Aerogel Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Silica Aerogel Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Silica Aerogel Market
9.3.5.1.1 Australia Silica Aerogel Market by Form
9.3.5.1.2 Australia Silica Aerogel Market by Application
9.3.5.2 China Silica Aerogel Market
9.3.5.2.1 China Silica Aerogel Market by Form
9.3.5.2.2 China Silica Aerogel Market by Application
9.3.5.3 India Silica Aerogel Market
9.3.5.3.1 India Silica Aerogel Market by Form
9.3.5.3.2 India Silica Aerogel Market by Application
9.3.5.4 Japan Silica Aerogel Market
9.3.5.4.1 Japan Silica Aerogel Market by Form
9.3.5.4.2 Japan Silica Aerogel Market by Application
9.3.5.5 South Korea Silica Aerogel Market
9.3.5.5.1 South Korea Silica Aerogel Market by Form
9.3.5.5.2 South Korea Silica Aerogel Market by Application
9.3.5.6 Rest of Asia-Pacific Silica Aerogel Market
9.3.5.6.1 Rest of Asia-Pacific Silica Aerogel Market by Form
9.3.5.6.2 Rest of Asia-Pacific Silica Aerogel Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Silica Aerogel Market Overview
9.4.2 Middle East and Africa Silica Aerogel Market Forecasts and Analysis
9.4.3 Middle East and Africa Silica Aerogel Market Forecasts and Analysis - By Form
9.4.4 Middle East and Africa Silica Aerogel Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Silica Aerogel Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Silica Aerogel Market
9.4.5.1.1 South Africa Silica Aerogel Market by Form
9.4.5.1.2 South Africa Silica Aerogel Market by Application
9.4.5.2 Saudi Arabia Silica Aerogel Market
9.4.5.2.1 Saudi Arabia Silica Aerogel Market by Form
9.4.5.2.2 Saudi Arabia Silica Aerogel Market by Application
9.4.5.3 U.A.E Silica Aerogel Market
9.4.5.3.1 U.A.E Silica Aerogel Market by Form
9.4.5.3.2 U.A.E Silica Aerogel Market by Application
9.4.5.4 Rest of Middle East and Africa Silica Aerogel Market
9.4.5.4.1 Rest of Middle East and Africa Silica Aerogel Market by Form
9.4.5.4.2 Rest of Middle East and Africa Silica Aerogel Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Silica Aerogel Market Overview
9.5.2 South and Central America Silica Aerogel Market Forecasts and Analysis
9.5.3 South and Central America Silica Aerogel Market Forecasts and Analysis - By Form
9.5.4 South and Central America Silica Aerogel Market Forecasts and Analysis - By Application
9.5.5 South and Central America Silica Aerogel Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Silica Aerogel Market
9.5.5.1.1 Brazil Silica Aerogel Market by Form
9.5.5.1.2 Brazil Silica Aerogel Market by Application
9.5.5.2 Argentina Silica Aerogel Market
9.5.5.2.1 Argentina Silica Aerogel Market by Form
9.5.5.2.2 Argentina Silica Aerogel Market by Application
9.5.5.3 Rest of South and Central America Silica Aerogel Market
9.5.5.3.1 Rest of South and Central America Silica Aerogel Market by Form
9.5.5.3.2 Rest of South and Central America Silica Aerogel Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SILICA AEROGEL MARKET, KEY COMPANY PROFILES
11.1. AEROGEL TECHNOLOGIES, LLC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ASPEN AEROGELS, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CABOT CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GUANGDONG ALISON HI-TECH CO.,LTD
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JIOS AEROGEL CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NANOPORE, INCORPORATED
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. OCELLUS, INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SVENSKA AEROGEL AB
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE DOW CHEMICAL COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THERMABLOK, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- Aerogel Technologies, LLC.
- ASPEN AEROGELS, INC.
- Cabot Corporation
- Guangdong Alison Hi-Tech Co.,Ltd
- JIOS Aerogel Corporation
- NanoPore, Incorporated
- Ocellus, Inc.
- Svenska Aerogel AB
- The Dow Chemical Company
- Thermablok, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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