Frozen Smoke Market was valued at USD 826.3 million in 2022 and is expected to reach USD 1,278.7 million by 2029 and expected to grow USD 6.4% million by 2029. Frozen Smoke is also called “AEROGEL” It is the lightest soft material known, despite of air that it is three times heavier than air and used tremendously due to insulative properties. Aerogel is a class of scientific porous ultralight material derived from a gel, in which liquid components are replaced with gel. The growth of the frozen smoke market is primarily driven by tremendous demand in building and oil & and gas industries as insulators. Oil and gas particularly the petroleum industry carries unprocessed material, The insulative property of aerogel eradicates chemical inertness and lowers temperature conductance, which makes an ideal material for use which is the major factor that drive the market.
Frozen smoke provides potential alternative for conventional insulation material, it lowers thermal conductance to pass through, solid material act a insulative layer, this material results higher opportunity in oil & gas, Aerospace & marine market in the upcoming years. The high cost of production of aerogel is the major restraints in growth of frozen smoke market, the manufacturing of aerogel is complicated, requires extensive R&D which makes process costly. According to NASA, Aerogel is a silicon-based solid with a porous, sponge-like structure in which 99.8 percent of the volume is empty space. By comparison, aerogel is 1,000 times less dense than glass, another silicon-based solid. Discovered in the 1930s by a Stanford University researcher, aerogel is the world's lightest solid. Geographically, North America held the major market share in 2022 and is expected to dominate the frozen smoke market in the forecasted years.
Fastest Growing Market
The increasing demand of material for insulation and prevent from thermal conductance and chemical inertness across the world is the major market driver in the Frozen Smoke Market during the forecast period. Insulation material used in early days such as polyurethane foam, mineral wood, rock wool and stone are ineffective have certain drawbacks for using. In construction of building extra layer enhance the weight of buildings which makes it tough to use. Aerogel provides lightweight and thinner screen for the insulation form sunlight, also the insulation property of aerogel increases in demand in global market which drive the market. Hence, this will drive the global market growth at a significant rate.
The frozen smoke market size was valued at usd 826.3 million in 2022 and expected to reach usd 1,278.7 million by 2029.
The frozen smoke market is poised to grow at an 6.4% CAGR from 2023 to 2029.
The leading players in the Frozen Smoke Market are; BASF SE, Cabot Corporation, Green Earth Aerogel Technologies, Svenska Aerogel AB, and Aspen Aerogels Inc., aerogel technologies, JIOS aerogel, Thermablok technologies, Active Aerogels