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Global Carbon Aerogel Market is Expected to Grow at a CAGR of 12.54% from 2021 to 2030; Quince Market Insights

Major industry players areReade International Corp, Green Earth Aerogel Technology SL, Aspen Aerogels, Aerogel Technologies, LLC, Ocellus, Levron, American Elements, Zhengzhou Joda Technology Co. Ltd., Solar Impulse Foundation, Aryom, Nanoquimia, and Ecoworth Tech Pte. Ltd.

/EIN News/ -- Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The global carbon aerogel market size was valued at USD 584.78 million in 2021 and is anticipated to grow at a CAGR of 12.54% during the forecast period, according to a recent market study by Quince Market Insights. Carbon aerogels consist nanoparticles of carbon with diameters approximately 1-2 mm. it is having a porous, low-density material and labelled as the lightest material on the earth.

Carbon aerogels have low thermal conductivity, have surface areas ranging from about 500 to 2500 m2 g-1, but they can also be electrically conductive. These carbon aerogel’s properties make it valuable for applications that benefit from high-surface-area electrodes, such as supercapacitors, fuel cells, and desalination systems. And hence, driving the global carbon aerogel market.

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The production process of carbon aerogel requires high cost-structures, as the manufacturing process requires exclusive R&D which are making it pricey, is one of the major restraints that affects the growth of global carbon aerogel market.

Carbon aerogels have abundant pore structure, environmental compatibility. Therefore, they are applied widely in environment chemistry for removing pollutants like toxic organic solvent, oils are creating opportunities for the major players operating in carbon aerogel market.

Carbon aerogels demonstrate various applications for its rich porosity, ultralow density, and many functions. Though, neat carbon aerogel’s high stretchability is still a great challenge for the manufacturers owing to its extremely dilute brittle interconnections and poorly dilute cells. As a result, the market is facing limitations in their growth.

Impact of COVID-19 on Global Carbon Aerogel Market

The Covid-19 pandemic has a number of negative impacts on every industry operating in the market. The global lockdown has created several problems like flights cancellation, prolonged lockdown, transportation channels ceased, which has created a loss in revenue of every organization and the carbon aerogel market is also among them.

Industries like oil & gas and aerospace depend largely on the carbon aerogel for various applications such as construction, hydrogen storage, installing energy, and others. With the closure in oil & gas industries, the global carbon aerogel market also falls at a high rate during the mid-period of 2020.

However, the government is now allowing to reopen industries operations, and hence, the global carbon aerogel market is also expected to have increased in their demands by the coming years.

Global Carbon Aerogel Market, by Type

Based on type, the global carbon aerogel market is segmented into granules, powder, block, and tile. Here, the granules segment captures the largest market share in 2021 and is anticipated to hold its position during the forecast period.

The segment growth is attributed to the growing amount of interest either integrated into sheets post-production and blankets of silica granules. Also, silica particles can be used as filler in solid or liquid products including coatings and building materials are contributing the growth of carbon aerogel market.

Global Carbon Aerogel Market, by Application

Based on application, the market is bifurcated into nanocatalyst, fuel cell, hydrogen storage, supercapacitor, and desalination systems. Hydrogen storage segment captures the largest market share in 2021 and is expected to remain largest during the forecast period.

The factors responsible for the growth of hydrogen storage are because carbon aerogel is a unique porous material that possesses a number of desirable structural features for hydrogen storage, including variable densities, high surface areas, and continuous and tunable porosities are boosting the growth of carbon aerogel market. 

Global Carbon Aerogel Market, by Grade

Based on grade, the market is segmented into military, food, pharmaceutical, and others. Military segment is dominating the market in 2021 and is expected to remain dominant till the forecast period.

Factors attributing to the growth of the military segment is because aerogel-based material aid as footwear for extreme temperatures and thermal insulation in lightweight protective clothing. Also, as a shelter for military personnel in the field, military and aerospace vehicles, tank engines, and many more, which are driving the carbon aerogel market.

Global Carbon Aerogel Market, by End Use Industry

Based on end use industry, the global carbon aerogel market is segmented into paints & coatings, aerospace, defense, automotive, oil & gas, general industrial, and others. Oil & gas holds the largest market share in 2021 and is anticipated to remain largest during the forecast period.

Factor uplifting the growth of oil & gas industries is due to its application for various purposes such as insulation boards, insulation packs, storage tanks, and many others. Also, the growing demand for superior insulation materials from transportation, marine, construction, aerospace industries is boosting the growth of carbon aerogel market.

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Global Carbon Aerogel Market, by Region

Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America captures the largest market in 2021 and is anticipated to remain the largest market during the forecast period.

Factors attributing to the growth of North American market is because it is the largest market in terms of production and consumption of carbon aerogel in the world. The market is basically driven by the huge application of carbon aerogel by oil & gas industries, due to its superior insulating properties, reduced thickness, and low thermal conductivity. The growing application of carbon aerogel in the aerospace, marine, automotive industries is expected to drive the carbon aerogel market.

Recent Developments in the Global Carbon Aerogel Market

  • March 2021 – Porous carbon aerogels might power future Mars missions. Porous carbon aerogels make up the electrodes of a supercapacitator developed by NASA-sponsored researchers. The device has the ability to operate at extremely cold temperatures and also could make it a good power source to polar expeditions on Earth.

Some Key Findings of the Global Carbon Aerogel Market Report Include:

  • The analysis includes a global carbon aerogel market study, expansions, and forecasts, along with a country-specific analysis.
  • An in-depth analysis of the global carbon aerogel market comprises segment by type, application, grade, end-user, and regions with an analysis of trend-based insights and factors.
  • Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
  • The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global carbon aerogel market.
  • The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
  • External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
  • The research also helps understand the dynamics of the carbon aerogel market structure by analyzing market segments and by projecting the size of the market.
  • The report helps to understand the effects of COVID-19 pandemic on carbon aerogel market.
  • Some major industry players functional in the global carbon aerogel market are: Reade International Corp, Green Earth Aerogel Technology SL, Aspen Aerogels, Aerogel Technologies, LLC, Ocellus, Levron, American Elements, Zhengzhou Joda Technology Co. Ltd., Solar Impulse Foundation, Aryom, Nanoquimia, and Ecoworth Tech Pte. Ltd.

For more information on this topic please visit our website report titled, “Carbon Aerogel Market, by Type (Granules, Powder, Block, and Tile), Application (Nanocatalyst, Fuel Cell, Hydrogen Storage, Supercapacitor, and Desalination Systems), Grade (Military, Food, Pharmaceutical, and Others), End User Industry (Paints & Coatings, Aerospace, Defense, Automotive, Oil & Gas, General Industrial, and Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) in-depth analysis along with the table of contents (ToC).

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