The aerogel market size was valued at nearly USD 1.4 Bn in 2022 and is anticipated to reach USD 4.9 Bn by 2031, expanding at a CAGR of 15.1% during 2023 – 2031. The growing demand for aerogel applications for their superior heat resistance and lightness over other insulation materials from construction, oil & gas, aerospace, transportation, and specialty coating industries is expected to drive the market.
Aerogels are lightweight and ultralow-dense organic, inorganic, or hybrid materials widely used for insulation. Aerogels are porous structures of three-dimensional (3D) interconnected networks filled with several air spaces. Aerogels are solid gels with air or gas that replace the liquid constituents. The predominance of air in the gel's structure gives aerogels a transparent appearance. Aerogels have wide applications in adsorption, catalysis, thermal insulation, aerospace, and drug delivery systems.
Aerogels are classified as cryogel, xerogel, or hydrogels based on production patterns. Microporous aerogels (2 nm), mesoporous aerogels (2–50 nm), and mixed porous aerogels are other aerogels classified based on microstructures. Carbon, silica, iron oxide, and copper are major structural constituents of aerogels. Aerogels find applications in piezoelectric, solar energy applications, low-temperature glass formation, and sensors.
The COVID-19 pandemic restrained the aerogel market with reduced demand for crude oil. Government-imposed lockdowns around the globe led to travel bans and reduced transportation of goods. This led to decreased fuel consumption which reduced the demand for aerogel in the oil and gas sectors during the pandemic.
Aerogel Market Dynamics
Major Drivers
Increasing use of aerogels in industrial insulation is expected to drive the market. Aerogels have less thickness with low thermal conductivity making them ideal materials for insulation. They are used for apparel in cold regions being light in weight and for having lower thermal conductivity, which is expected to propel the market in the coming years.
Existing Restraints
High manufacturing costs of aerogels are likely to be a major restraint for market growth. Fluctuating raw material costs and tedious manufacturing processes are likely to hamper the market.
Emerging Opportunities
Increasing demand for space-saving insulation materials is likely to boost the aerogel market as aerogels have pores of around 20 to 40 nm in dimensions. Aerogels aid in reaching the same insulation levels with a lesser thickness which is likely to provide lucrative opportunities for the market players.
Scope of the Aerogel Market Report
The report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Aerogel Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Polymers, Carbon, Silica, and Others), Form (Blanket, Particle, Panel, and Monolith), and End-user (Oil & Gas, Performance Coatings, Building & Construction, and Automotive, Aerospace & Marine)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ENERSENS SAS; Ocellus Inc.; Svenska Aerogel; CF Technologies; Green Earth Aerogel Technologies (GEAT); Guangdong Alison Hi-Tech Co. Ltd; Alkegen; Airglass UK; Aspen Aerogels Inc.; BASF SE; Cabot Corporation; Armacell International S.A.; Active Aerogels, Inc.; TAASI Corporation; Thermablok Aerogels Ltd.; JIOS Aerogel Corporation; Nano High-Tech Co. Ltd.; Dow Inc.; ZheJiang Surnano Aerogel Co. Ltd.; and Aerogel Technologies LLC.
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Aerogel Market Segment Insights
Based on product, the market is segmented into polymers, carbon, silica, and others. The silica segment is expected to expand at a significant pace during the projection period, owing to the high porosity of aerogels. Silica aerogels are manufactured by a modified Stober process. Aerogel porosity is typically greater than 90% of the total volume of silica aerogels and in the range of 5–100 nm.
High demand for silica aerogel materials in aerospace, manufacturing processes, and building constructions is expected to boost the segment. The polymers segment is anticipated to hold a key market share, owing to the wide use of aerogel fiber composites in the clothing industry.
On the basis of form, the market is segregated into blanket, particle, panel, and monolith. The blanket segment is projected to hold large revenue shares in the market, owing to the wide use of aerogels in apparel and building constructions. High breathability, less powdering, low diffusion & dusting, and repellency to water are highly beneficial properties of aerogels in construction and apparel manufacturing which are expected to propel the segment during the forecast period.
The particle segment is anticipated to gain significant revenue share, owing to the growing use of electronic substrates, defense antennas, transport interiors, and buildings. Crystalline metal structures have maximum air in the porous structure that enhances acoustic insulation and thermal performance. These properties are expected to drive the segment in the coming years.
Based on end-user, the aerogel market is divided into oil & gas, performance coatings, building & construction, and automotive, aerospace & marine. The automotive, aerospace & marine segment is expected to expand at a significant pace during the projection period, owing to the wide application of aerogels in Inflatable Hypersonic Aerodynamic Decelerator (HIAD). HIAD is used in the landing gear of spaceships, with the payload of the HIAD protected with a Flexible Thermal Protection System made out of aerogel-insulating materials.
The building & construction segment is anticipated to hold a key share of the market, due to the wide use of aerogels in manufacturing renders, blankets, and boards as insulation materials. Using aerogel products to preserve heritage buildings is expected to propel the segment.
In terms of region, the global aerogel market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the extensive use of aerogels in aerospace, automotive, and maritime activities in the region. In space missions of NASA, aerogel was widely used as an insulator and in tapping hypervelocity particles. Subsidies provided by the U.S. government for green initiatives and the use of aerogels in electric vehicles are likely to bolster the market in the region.
The market in Europe is projected to grow at a rapid pace, owing to the expansion of industrial establishments, renovations of structures, and growth of the construction sector. Policies of the European Union for adhering to energy efficiency norms are likely to fuel the market in the coming years.
Segments
The global aerogel market has been segmented on the basis of
Product
- Polymers
- Carbon
- Silica
- Others
Form
- Blanket
- Particle
- Panel
- Monolith
End-user
- Oil & Gas
- Performance Coatings
- Building & Construction
- Automotive, Aerospace & Marine
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- ENERSENS SAS
- Ocellus Inc.
- Svenska Aerogel Holding AB
- CF Technologies
- Green Earth Aerogel Technologies (GEAT)
- Guangdong Alison Hi-Tech Co. Ltd
- Alkegen
- Airglass UK
- Aspen Aerogels Inc.
- BASF SE
- Cabot Corporation
- Armacell International S.A.
- Active Aerogels, Inc.
- TAASI Corporation
- Thermablok Aerogels Ltd
- JIOS Aerogel Corporation
- Nano High-Tech Co. Ltd
- Dow Inc.
- ZheJiang Surnano Aerogel Co. Ltd.
- Aerogel Technologies LLC
Competitive Landscape
Players in the aerogel market include ENERSENS SAS; Ocellus Inc.; Svenska Aerogel; CF Technologies; Green Earth Aerogel Technologies (GEAT); Guangdong Alison Hi-Tech Co. Ltd; Alkegen; Airglass UK; Aspen Aerogels Inc.; BASF SE; Cabot Corporation; Armacell International S.A.; Active Aerogels, Inc.; TAASI Corporation; Thermablok Aerogels Ltd.; JIOS Aerogel Corporation; Nano High-Tech Co. Ltd.; Dow Inc.; ZheJiang Surnano Aerogel Co. Ltd.; and Aerogel Technologies LLC. These companies adopt strategies including partnerships, collaborations, product launches, mergers, acquisitions, and product expansion to boost their market share.
- In February 2023, Svenska Aerogel entered into contractual agreements with several manufacturers to optimize using Quartzene in consumer products. Svenska Aerogel agreed to supply around 30 tons of Quartzene annually during the pilot phase.
- In April 2022, AlkeGel was launched by Alkegen with a prime focus on its application in electric vehicles, industrial temperature control applications, and as extensible materials designed for battery fire protection. High thermal conductivity with reduced insulation thickness is a major advantage of AlkeGel.
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