Aerogel Insulation Market 2019 Report | Global Industry Growth To 2025
Publisher : Fractovia | Published Date : 2019-06-27Request Sample
With growing environmental concerns and mounting pressure to cut down on carbon footprint of buildings, aerogel insulation market is poised to register substantial growth in the next few years. For most of the developed countries, the building segment is one of the largest energy consumers and accounts for around 40% of the total energy consumption worldwide. Several countries are looking to adopt methods and technology to reduce energy consumption and greenhouse gas emissions, eventually shifting towards eco-friendlier infrastructure.
North America Aerogel Insulation Market, By End Use, 2018 & 2025, (USD Million)
A need for more efficient residential and commercial construction has paved the way for innovative insulating materials like aerogels, which are among the lightest solid materials in the world, being composed of 99% air. Due to significantly low thermal conductivity and density, aerogels are widely used in buildings and windows to prevent thermal radiation of the ambient temperature, making it an ideal insulator and energy-saving material. Heating and cooling solutions represent a major part of energy expenditure, demonstrating the potential of deploying aerogel products in construction.
The building and construction sector has experienced a massive rise with the increased economic conditions across developing nations. Rise in construction activities lead to the consumption of traditional materials, but also create opportunities for using novel products for crucial structural components. Developments related to aerogel-based products have allowed many new design possibilities for buildings and in electrical applications, augmenting demand for aerogel insulation market.
The European Union has set an ambitious target of achieving 20% reduction in greenhouse gas emission and recording 20% increase in energy savings by 2020 as compared to the 1990 levels. To make progress towards this target, numerous building and construction sector companies began implementing low energy-consuming techniques, including aerogels. The trend could be observed across developed counties where new structures and renovation activities offer considerable growth potential. Reports predict that the building & construction segment will contribute more than USD 950 million to the global aerogel insulation market size by 2025.
Aerogel is considered as one of the most proficient nanomaterials that can be extensively used in highly efficient structures and in window applications. Many daylighting systems that are being used in buildings now incorporate translucent granular aerogels within interspaces like structural panels for the structure’s front side. These materials allow for high-quality diffused light, excellent thermal efficiency and sound reduction, endorsing the significant of aerogel insulation industry in colder regions of Europe and North America, where a large number of buildings have window or glass fronts.
Research companies are seemingly indulged in pioneering aerogel technologies that benefit all corners of society, offering products which are affordable and require less time and energy to produce. For instance, in late 2018 Aspen Aerogels had received European Technical Assessment (ETA) for SLENTEX, its high performance, non-combustible aerogel insulation to be commercialized in partnership with BASF. SLENTEX is aimed at providing substantial benefits to engineers, builders, and architects who could be impacted by expected regulatory changes regarding the use of non-combustible products in high-rise building.
Continuous efforts by manufacturers to advance aerogel technology will tremendously reinforce aerogel insulation market outlook globally. With the help of these materials builders can ensure that more efficient thermal performance of a building can be achieved without trading-off safety, comfort, space, and design. These advantages will unquestionably stimulate considerable investments towards R&D efforts from key aerogel insulation industry players.
Svenska Aerogel, American Aerogel Corporation, Green Earth Aerogel Technologies, Enersens, and Cabot Corporation are some of the major manufacturers leading aerogel insulation market. They are widely focused on innovations to augment their global reach and ensure a profit-driven growth in the upcoming years. Citing an example, Svenska Aerogel had recently been granted three new patents for the use of a material that improves thermal insulation across various applications. Similar accomplishments among other competitors will fuel the development of overall aerogel insulation market.
Rising awareness about sustainable building materials will expand the aerogel insulation industry size, as developed countries also seem to be investing towards greener construction technologies. In addition, significant developments are being made in the approach towards designing housing systems for improving the inclusive energy efficiency in emerging residential projects. Global Market Insights, Inc. has estimated that aerogel insulation market will surpass annual revenues of USD 2.5 billion by 2025.
