The Outside Has Been Optimistic About the Aerogel Market, And Domestic Companies Are Becoming Increasingly Powerful

Silica aerogel is a porous solid material whose dispersion medium is gas. It is the lightest solid material currently used in engineering. Compared with traditional thermal insulation materials, the thickness of aerogel materials is one-half to one-fifth of traditional thermal insulation materials under the same thermal insulation effect, which can save more space.

Combined with traditional insulation materials, it is expected to achieve the best economy. The disadvantages of aerogel insulation materials are higher prices and larger initial investment. However, due to its excellent aging resistance, dimensional stability, and hydrophobicity, it will show comprehensive advantages after being put into use for a certain period. Aerogel materials are convenient for construction and increase construction efficiency by more than 30%. Although the initial investment of aerogel insulation is higher than that of traditional materials, its many excellent properties make it an energy-saving product with high comprehensive cost performance.

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The Global Aerogel Market Continues to Grow

Increasing globalization and urbanization has led to the development of infrastructure construction in developed and developing countries, which is another key factor driving the growth of the global aerogel market. Due to its light diffusion, thermal insulation, and high surface area properties in architectural applications, the demand for aerogel silica is increasing, which drives the growth of the global aerogel market. The global aerogel market has grown from USD 222 million in 2013 to USD 1.45 billion in 2019, with a compound annual growth rate of 36.7%. The Asia-Pacific region, especially China's aerogel industry, has risen rapidly in the past two years. It is estimated that the market size of the global aerogel industry in 2025 will far exceed US$2.2 billion.

However, the aerogel industry is still limited by its high production cost and small production scale, resulting in limited application scale and application fields. The products are mainly aerospace and military industry, pipeline insulation, and new energy vehicles, with fewer applications in the construction field. In the United States and some European regions the aerogel industry has developed earlier and more mature.

The Government Keeps An Encouraging Attitude, And Domestic Companies Are Becoming Increasingly Powerful

Aerogel is listed as one of the top ten popular science and technology, known as a multifunctional new material that can change the world.

In September 2020, President Xi Jinping delivered a speech at the United Nations General Assembly, stating that China's carbon dioxide emissions will peak by 2030 and strive to achieve carbon neutrality by 2060. This commitment means that unrecovered carbon emissions need to be reduced compared to the current level. More than 90%, the development of aerogel and other emerging materials conform to the trend.

The aerogel market in China started late. In the early stage, it was mainly to purchase foreign aerogel products, which were expensive and less market promotion. In recent years, as domestic aerogel technology matures, production capacity increases, scale continues to expand, and costs decrease Thanks to the implementation of domestic energy conservation and emission reduction policies and the rapid expansion of the economy, the aerogel industry has entered the fast track. In 2018, Aspen Corporation of the United States initiated the Section 337 investigation of China, which to some extent forced the country to rise independently. When learning and borrowing from foreign advanced manufacturing processes, it focused on independent innovation and avoided intellectual property competition.

On the whole, China's aerogel industry is gradually getting rid of its previous disadvantages such as the low-end product structure and the lack of obvious product cost advantages. The industry's scale expansion process has accelerated. At this stage, the downstream of aerogel products are mainly concentrated in the fields of oil and gas and industrial pipeline insulation. Based on the development path of the aerogel industry in developed countries and regions such as Europe, America, and Japan, the future market potential of aerogel in the fields of construction and transportation is huge.

Due to its excellent thermal insulation properties, aerogel materials have a wide range of applications, mainly in energy equipment, transportation, building materials, clothing, and other fields, with a huge potential. In 2019, in the downstream aerogel market, the construction sector accounted for 30%, petroleum and petrochemical accounted for 25%, followed by transportation, accounting for 11%.

New Energy Will Become the Main Growth Engine in the Transportation Sector

Aerogel materials can not only solve the safety problems of the current ternary battery system and other battery systems, but also exert flame retardant properties and be used in automotive interior materials.

When the vehicle battery outputs electric energy for a long time, the long-term chemical reaction in the battery will cause the battery body to heat up obviously, and there is a risk of burning and explosion. The emergence of aerogel composite materials is expected to solve this pain point. Due to the higher energy density of the ternary battery, the stability and safety of the battery are relatively poor, and it is more dependent on high-performance flame-retardant materials to enhance the safety performance of the ternary battery system. As a flame-retardant material, aerogel composite material has the advantages of lightweight, excellent flame-retardant performance, and environmental protection performance compared with traditional flame-retardant materials.

According to the data, on average, each new energy vehicle needs aerogel composite material worth $105. According to an estimate of 25.77 million auto sales in 2019, China's annual sales of new energy vehicles will exceed 5 million in 2025. It is estimated that the potential scale of aerogel composite materials in China's new energy vehicle market is about 525 million US dollars in 2025.

The Building Materials Track Is Large, Which Is Jointly Promoted by New Buildings and Existing Building Renovations

In the field of building materials, aerogels are mainly used in wall insulation materials, insulation coatings, and energy-saving glass, and are oriented to the two scenarios of new buildings and energy-saving renovation of existing buildings. in recent years, the real estate market has moved towards high quality, and the growth rate of development investment has been maintained at about 10% for consecutive years, which will drive the insulation materials market in the construction sphere.

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