Global Aerogels Market

Global Aerogels Market was valued USD 1.04 Billion in 2022 and projected to reach USD 3.80 Billion by 2030, growing at a CAGR of 17.6% during the forecast period of 2023-2030.

Aerogels belong to the category of low-density solid gels where the liquid component has been replaced by gas or air. These aerogels are structurally composed of various materials, including silica, carbon, iron oxide, gold, and copper. Regardless of the specific material, the predominant presence of air within the gel imparts a transparent color to it. These gels possess distinctive characteristics like high porosity, low density, and thermal conductivity. Capitalizing on these properties, the material finds applications as an insulation agent in industries such as construction and oil & gas. The U.S. market is poised for significant growth, driven by manufacturers’ awareness of the advantages offered by aerogels compared to other insulation materials. Additionally, the well-established industries in the country, spanning marine, performance coating, automobiles, aerospace, building and construction, oil, and natural gas, are expected to fuel the demand for aerogels throughout the forecast period.

Growing Demand in Construction Industry

Conventional insulating materials like polyurethane foam, mineral wool, rock wool, and stone wool come with several drawbacks. In new construction projects, achieving the required R-value often necessitates substantial layers of these materials, leading to a significant loss of valuable floor space. Retrofitting older structures with additional insulation layers is more challenging and alters the building’s aesthetics. Aerogels are poised to serve as a viable alternative to traditional insulation materials in new constructions, addressing energy standards set by regulatory agencies and preventing structural compromises. Owing to their low thermal conductivity and slim profile, aerogel materials have the potential to save considerable energy that would otherwise be consumed for heating and cooling. The ongoing industrialization and commercialization, particularly in the development of high-rise buildings, are expected to drive the expansion of the construction market, consequently contributing to the growth of the aerogel market.

Market Dynamics

Drivers:

• Increasing demand for mental health services
• Growing geriatric and medically underserved populations
• High demand from healthcare providers

Opportunities:

• Partnering with other organizations
• Developing new technologies
• Educating the public

Increasing utilization of sustainable and eco-friendly materials in the electronics packaging

The growing adoption of sustainable and environmentally friendly materials in electronics packaging is currently contributing positively to the expansion of the aerogel market. Companies actively seek alternative materials in line with their sustainability objectives, and aerogels are emerging as a viable option. These exceptionally lightweight materials offer outstanding thermal insulation properties, making them well-suited for applications in electronics packaging. Additionally, aerogels demonstrate environmental friendliness, typically sourced from renewable resources and being recyclable. Moreover, manufacturers are progressively substituting traditional packaging materials, such as plastics and foams, with aerogels, given their remarkable attributes including exceptional thermal insulation, low density, and high porosity. These characteristics align seamlessly with sustainability and eco-friendly goals, contributing to a reduction in the carbon footprint and environmental impact of electronic packaging.

The market for Aerogels is dominated by North America.

In 2022, In North America, the market holds a substantial share, driven by the escalating consumption of insulation materials across sectors like oil & gas, construction, and transportation. The heightened demand for aerogel in oil and gas pipelines, coupled with its cost-effective installation and enhanced compression resistance, positions the region for significant growth over the assessment period. Key contributors to this market in North America include the U.S., Canada, and Mexico.

The Asia Pacific region is experiencing noteworthy growth in the market, propelled by increased research and development activities focused on Aerogel products by leading companies. Projections indicate that rising investments in end-use industries will propel market expansion in the region during the forecast period. Countries such as China, Japan, and India are witnessing remarkable growth in the market due to the growing consumption of insulation materials in aerospace, marine, defense, electrical & electronics sectors. These countries offer excellent flexibility, stability, and low maintenance for aerogel products, contributing to their impressive market growth.

The Silica Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on product type, the market is silica, polymer and carbon. In 2022, the silica segment took the lead in the market, capturing a significant share of global revenue. Silica aerogels have garnered widespread attention globally due to their effective chemical properties and their current and prospective applications across various technological domains. These gels are characterized by their nanostructured nature, boasting high specific surface areas, enhanced porosity, low density, diminished dielectric constant, and exceptional heat insulation properties.

Major vendors in the global aerogels market are Active Aerogels, Aerogel Technologies, LLC, Armacell, Aspen Aerogels, Inc., BASF SE, Cabot Corporation, Dow, Enersens, Guangdong Alison Hi-Tech Co., Ltd., JIOS Aerogel Corporation, Nano Technology Co., Ltd., Svenska Aerogel AB, Thermablok Aerogels Limited and Others.

Segmentations Analysis of Aerogels Market: –

Major Segmentations Are Distributed as follows:

• By Product Type
  • Silica
  • Polymer
  • Carbon
• By Form
  • Monolith
  • Blanket
  • Article
  • Panel
• By Processing
  • Virgin Processed Aerogel
  • Fabricated Aerogel
• By Application
  • Battery Packs
  • Optical Fibers
  • Thermal & Acoustical Insulation
  • Electronic Devices
  • Capacitors
  • Imaging Devices
  • Catalysts
  • Pesticides
  • Others
• By End-use Industry
  • Automotive
  • Building & Construction
  • Oil & Gas
  • Electrical & Electronics
  • Medical
  • Agriculture
  • Aerospace
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of MEA

Recent Developments

• In June 2023, Aspen Aerogels, Inc. revealed the inauguration of an advanced engineering and rapid prototyping facility situated in Marlborough, MA. This facility is designed to assist manufacturers in enhancing the safety and performance of battery packs intended for eMobility and energy storage systems (ESS).
• In May 2023, Cabot Corporation unveiled its latest ENTERA™ aerogel particles portfolio, designed for crafting ultra-thin thermal barriers in lithium-ion batteries for electric vehicles (EVs).

Answers to Following Key Questions:

• What will be the Aerogels Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Aerogels Market?
• What are the main forces behind worldwide Aerogels Market? Which companies dominate Aerogels Market?
• Which companies dominate Aerogels Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Insight Engines industry’s suppliers’ opportunities and dangers in Aerogels Market?
• What is the Insight Engines industry’s regional sales, income, and pricing analysis? In the Aerogels Market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Aerogels Market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Aerogels Market?
• What are the dominant revenue-generating regions for Aerogels Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Aerogels Market trends that are influencing the market’s expansion?
• Which key product categories dominate Aerogels Market? What is Aerogels Market’s main applications?

In the coming years, which Aerogels Market technology will dominate the market?