Market Introduction:
Aerogels are extremely versatile materials that exhibit exceptional properties such as low density, acoustic & thermal damping, high porosity and electrical conductivity, to name a few. Derived by sol-gel chemistry, carbon aerogel is a special class of high surface area material. Carbon aerogel, also known as aerocarbon and grapheme aerogel, comprises nanometer scaled particles that are covalently bonded. Typical properties of carbon aerogel include high surface area (ranging from 400 – 1000 square meter per gram) and high porosity (well over 50% with the pore diameter under 100 nm). Carbon aerogel is usually manufactured in the form of a non-woven composite paper made with carbon fibers impregnated with resorcinol-formaldehyde, which is further pyrolyzed. More than 90% of carbon aerogel is composed of air.
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The electrical conductivity of carbon aerogel varies as per its density and thus, the material can be used as an electrode. The high surface area of carbon aerogel makes it useful in creating supercapacitors of values ranging in thousands of farads. Being extremely black in the infrared spectrum, carbon aerogel absorbs upto 98-99% radiation between 250 nm to 14.3 µm. Such features of carbon aerogel make it an efficient solar energy collector. Apart from being used in the electrical and electronics industry, carbon aerogel also finds application as a reinforcing agent for organic or natural rubber, high temperature insulation, a pigment for ink jet printers, a gas separation media and an electro-chemical storage device.
Market Dynamics
Attributing to the numerous ongoing studies on carbon aerogel, the market is anticipated to be a technologically-driven one. Recent studies show that apart from the aforementioned properties, reversible stretch ability is an added property of carbon aerogel. New technology in carbon aerogel enables it to reversibly expand to more than three times its original length. This is expected to propel the carbon aerogel market due to the growing demand from stretchable electronics such as wearable electronic devices, energy generation and storage, aerospace applications and lightweight mechanical devices used in high temperature applications. There have been several attempts to use hydrogen as a fuel. However, the storage of hydrogen limits the scalability of the concept.
Its high pore density positions carbon aerogel as a potentially safer alternative to store and transport hydrogen. The carbon aerogel structure can be systematically controlled by precisely altering its manufacturing process. Carbon aerogel was developed in the 1980s and is recently being commercialized. As carbon aerogel is still in the introductory stage of the product lifecycle, it is likely to experience fast growth throughout the forecast period, given its potential applications in aerospace and automotive industries. Hence, the scope for carbon aerogel seems wide and bright throughout 2018 – 2028.
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Having said that, one cannot ignore the high production cost associated with the complex manufacturing process. Also, the aerogels market is highly consolidated and the entry of new small-scale manufacturers seems difficult until product differentiation is achieved through the introduction of innovative products. Currently, newer versions of carbon aerogels are being studied and commercialized in the market and high demand is expected from research laboratories and academic institutions.
Market Segmentation
The carbon aerogel market can be segmented on the basis of type, grade, application and end use.
On the basis of type, the carbon aerogel market can be segmented into:
- Granules
- Powder
- Block
- Tile
On the basis of grade, the carbon aerogel market can be segmented into:
- Military
- Food
- Pharmaceutical
- Others
On the basis of application, the carbon aerogel market can be segmented into:
- Nanocatalyst
- Fuel cell
- Hydrogen storage
- Supercapacitor
- Desalination systems
On the basis of end use, the carbon aerogel market can be segmented into:
- Paints and Coatings
- Aerospace
- Defense
- Automotive
- Oil & Gas
- General Industrial
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Regional Outlook
Regionally, the North America carbon aerogel market is anticipated to be a bigger market in terms of value-volume. Asia Pacific is pegged to be next in line, attributing to the high industrial growth observed in countries such as China. Japan is expected to be one of the leading consumers of carbon aerogel due to the country’s growing electronics industry. Regions such as Latin America and Middle East & Africa are slated to experience steady growth over the forecast period.
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Market Participants
Some of the market participants in the global carbon aerogel market identified across the value chain include Reade International Corp., Green Earth Aerogel Technology SL, American Elements, Tradematt (Henan) Industry Co., Nanolit, Aerogel Technologies, LLC and Cabot Corporation.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
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