Research Nester published a report titled “Silica Aerogel Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global silica aerogel in terms of market segmentation by form, process, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global silica aerogel market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e., 2022-2031. The market is segmented by form into monolith, blanket, article, and panel. Out of these, the blanket segment is anticipated to garner the largest revenue by the end of 2031 on the account of increased oil and gas consumption across various regions. For instance, nearly 200 MMT of petroleum was consumed by India in the Financial Year 2022. By 2024, India's natural gas consumption is expected to grow by 24 BCM, at an average annual rate of 8%. As well as their hydrophobic properties, aerogel insulators are mechanically strong and possess exceptional thermal characteristics which make them highly in demand during the forecast period.
The global silica aerogel market is estimated to garner significant revenue by the end of 2031, up from modest revenue in the year 2021 backed by construction sector growth, rapid growth in industrial processes, and surge in silica aerogel exports. Also, the development of new technologies in optics and light sources, as well as the need for water resistant materials in the electronics sector and an increase in demand for high quality insulators and water proofing materials are some of the other factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global silica aerogel market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to garner the largest revenue by the end of 2031. Growing revenues and rapid growth in aerospace & defense (A&D) are expected to drive the regional market during the forecast period. It was observed that A&D industry sales in the United States contributed USD 380 billion to the nation's gross domestic product, which represents 1.5%. Furthermore, the silica aerogel market in the region is expected to grow as a result of the increasing use of silica aerogel products in automotive and marine applications.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Worldwide Growth of the Semiconductor Industry to Drive the Market Growth
By 2030, the semiconductor industry is expected to generate revenue of USD 1 trillion on a global scale. A total of USD 590 billion was generated by sales of semiconductor devices in the year 2021.
Semiconductor devices are compact and highly integrated, resulting in radio frequency delays, heat generation, and EM interference. To overcome these issues, semiconductor nanodevices use low dielectric constant materials for the interlayer dielectrics. A silicon and air porous structure enable silicon aerogel to achieve high electrical constants as an interlayer dielectric. With the development of the semiconductor industry along with the growing adoption of silica aerogels in electronic components, the global silica aerogel market size is expected to grow.
However, high cost of production and complexities involved in the preparation of silica aerogels are expected to operate as key restraint to the growth of global silica aerogel market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global silica aerogel which includes company profiling of Cabot Corporation, American Aerogel., Aspen Aerogels, Inc., CF Technologies, Inc. JIOS Aerogel Pte Ltd, ENERSENS SAS, Guangdong Alison Hi-Tech Co., Ltd., BASF SE, The Dow Chemical Company, SVENSKA AEROGEL AB. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global silica aerogel that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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