Global Aerogel Market

Aerogel Market Size, Share, Growth Analysis, By Product(Silica, polymers, carbon and others), By Technology(supercritical drying and others), By End-Use(oil & gas, building & construction, automotive, aerospace & marine), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2250 | Region: Global | Published Date: March, 2024
Pages: 184 |Tables: 91 |Figures: 76

Aerogel Market Insights

Global Aerogel Market size was valued at USD 1.18 billion in 2022 and is poised to grow from USD 1.37 billion in 2023 to USD 4.52 billion by 2031, at a CAGR of 16.1% during the forecast period (2024-2031).

The Global Aerogel Market is rapidly expanding, driven by the rising demand for high-performance insulation materials in various industries, including aerospace, construction, and oil and gas. The major drivers of the aerogel market include the growing demand for energy-efficient materials, the increasing adoption of aerogel in building insulation, and the rising use of aerogel in the oil and gas industry for pipeline insulation and corrosion protection. Moreover, the significant investments made by governments and private entities toward sustainable energy and infrastructure development are further fueling the growth of the market.

However, the high cost of production and limited awareness about aerogel among end-users remain the major restraints for the market's growth. Additionally, the impact of the COVID-19 pandemic on global supply chains and the logistics of the aerogel industry has led to a temporary slowdown in the market. Key trends in the aerogel market include the development of aerogel-based composites for structural applications, the emergence of eco-friendly aerogel materials, and the rising demand for transparent aerogels for architectural and automotive applications. The market presents significant opportunities for growth, including the increasing use of aerogel in electronics, healthcare, and personal care applications. Additionally, the growth potential of the aerogel market in emerging economies, such as India and China, presents lucrative opportunities for market players.

Market Snapshot - 2024-2031

Global Market Size

USD 1.18 billion

Largest Segment

Silica

Fastest Growth

Carbon

Growth Rate

16.1% CAGR

Global Aerogel Market ($ Bn)
Country Share for North America Region (%)

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Aerogel Market Segmental Analysis

Global Aerogel Market is segmented on the basis of product, technology, end-user, and region. By product, the market is segmented into silica, polymers, carbon and others. By technology, the market is segmented into supercritical drying and others. By end-use, the market is segmented into oil & gas, building & construction, automotive, aerospace & marine, performance coatings, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Aerogel Market Analysis by Product

The silica segment dominated the global protective coatings market. Silica aerogels have gained significant popularity worldwide due to their exceptional chemical properties and their wide range of applications in various technological areas. These nanostructured materials possess high specific surface areas, increased porosity, low density, reduced dielectric constant, and excellent heat insulation properties. However, the demand for polymer aerogels is projected to witness the fastest growth during the forecast period due to their enhanced chemical and physical benefits compared to silica aerogels. Polymer aerogels find applications in defense, electronics, construction, automotive interiors, and antennas. Although polymer aerogels offer mechanical robustness, they may lack transparency and have higher thermal conductivity compared to silica aerogels.

Furthermore, the carbon product segment is anticipated to register a remarkable CAGR. The growth of this segment can be attributed to the increasing use of carbon aerogels in energy storage applications. Carbon aerogels exhibit high mass-specific surface areas, electrical conductivity, and excellent environmental compatibility. They are promising materials for catalysis, distillation, sorbent, and energy storage applications. However, challenges such as brittleness and shrinkage during fabrication can be addressed by reinforcing carbon aerogels with carbon fibers, which decreases shrinkage and increases flexibility. This can be achieved through impregnating RF solutions into carbon fibers followed by a supercritical drying process. These factors are expected to drive the demand for carbon aerogels in the market.

Aerogel Market Analysis by End-Use

In 2022, the oil and gas end-use segment emerged as the largest market, accounting for over 62.3% of the global revenue. This segment primarily utilizes aerogel blankets to enhance the insulation of deep-sea pipes and oil and gas pipelines. The application of aerogel blankets in this industry helps reduce production costs, improve pipeline compression resistance, and minimize the amount of steel required for construction. The outstanding properties of aerogels, such as hydrophobicity, mechanical strength, and exceptional thermal performance, are expected to drive the growth of the market.

Global Aerogel Market Size By Product, 2023 (%)

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Aerogel Market Regional Insights

In 2022, North America emerged as the dominant region in the aerogel market. This growth can be attributed to increasing demand from various end-use industries such as aerospace, building & construction, automotive, and oil & gas. These industries in North America are driving the demand for aerogel applications due to their superior insulation properties and low thermal conductivity.

In Europe, the aerogel market is experiencing substantial growth, supported by the European Union's energy efficiency policy. This policy mandates an energy consumption reduction of 20% in buildings across countries like Germany, the UK, Spain, Italy, and others. The presence of key players such as BASF SE, Enersens, Aspen Aerogels, Inc., and Cabot Corporation further contributes to the market growth in the region. The expanding building & construction industry in Europe has created a demand for silica aerogels, which offer benefits like low thermal conductivity, optical transparency, hydrophobicity, low bulk density, and high surface area. Governments in countries like Germany, Italy, the UK, and Spain have taken initiatives to develop infrastructure, which boosts commercial and residential projects.

Global Aerogel Market Size By Region, 2024-2031
  • Largest
  • Fastest

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Aerogel Market Dynamics

Aerogel Market Drivers

Increasing Demand for Energy-Efficient Insulation

  • Aerogels have excellent thermal insulation properties, making them highly desirable for applications in the construction and building industry. The growing emphasis on energy efficiency and sustainable construction practices is driving the demand for aerogel-based insulation materials. For example, aerogel blankets or panels are used in insulation systems for walls, roofs, and pipelines, providing superior thermal performance and reducing energy consumption.

Aerogel Market Restraints

Fragility and Handling Challenges

  • Aerogels are extremely lightweight and possess a fragile structure. Handling and integrating them into various applications can be challenging due to their delicate nature. Proper care and specialized techniques are required during transportation, installation, and usage to avoid damage. These handling challenges can add complexity and cost to the utilization of aerogels.

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Aerogel Market Competitive Landscape

The Global Aerogel Market features a highly competitive landscape with several key players vying for market share. Some of the prominent companies operating in the market focus on strategies such as product development, collaborations, partnerships, and mergers and acquisitions to strengthen their market position. The market players are investing in research and development activities to enhance the properties of aerogel materials and explore new applications across various industries. Additionally, they are expanding their production capacities to meet the growing demand for aerogel products globally. The competitive rivalry is driven by factors such as technological advancements, cost-effectiveness, environmental sustainability, and the ability to provide customized solutions to meet specific customer requirements. With the increasing adoption of aerogel materials in industries such as oil and gas, construction, automotive, and aerospace, the competition among market players is expected to intensify further in the foreseeable future.

Aerogel Market Top Player’s Company Profiles

  • Guangdong Alison Hi-Tech Co., Ltd. (China)
  • Nano High-Tech Co., Ltd. (China)
  • Svenska Aerogel AB (Sweden)
  • Active Aerogels (Portugal)
  • Jios Aerogel Corporation (Taiwan)
  • Enersens SAS (France)
  • Green Earth Aerogel Technologies (Singapore)
  • Insulgel High-Tech SRL (Italy)
  • BASF SE (Germany)
  • Dow Corning Corporation (US)
  • Surnano Aerogel Co., Ltd. (China)
  • Thermablok, Inc. (US)
  • Thermoguard (UK)
  • Ocellus Tech (India)
  • Maeropore Technologies Ltd. (UK)
  • Airglass AB (Sweden)
  • Aerogel Insulation LLC (US)

Aerogel Market Recent Developments

  • In November 2023, Svenska Aerogel announced that the Italian distributor Krahn, on behalf of a new customer, has ordered 1 ton of Quartzene to be used in a new thermal insulation product. Krahn’s customer is active in the Building & Construction segment.
  • In November 2023, a new advanced manufacturing plant in Pioneer, Singapore, has been opened by JIOS Aerogel (JIOS), a global leader in silica aerogel technology. The facility represents a pivotal component of JIOS’s ongoing investment strategy, which is geared toward supporting auto makers in their adoption of aerogel-based technology to enhance the safety and performance of EV batteries.
  • In May 2023, Cabot Corporation announced the launch of its new ENTERA™ aerogel particles portfolio. ENTERA aerogel particles are a thermal insulation additive designed to enable the development of ultra-thin thermal barriers for electric vehicle (EV) lithium-ion batteries.

Aerogel Key Market Trends

  • Advancements in Nanotechnology and Material Science: Ongoing advancements in nanotechnology and material science are enabling the development of improved aerogel formulations with enhanced properties. Researchers are exploring methods to modify aerogels by incorporating nanoparticles or functionalizing their surfaces to achieve specific characteristics such as increased strength, better moisture resistance, and improved acoustic performance. These advancements open up new opportunities and expand the potential applications of aerogels.

Aerogel Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Aerogel Market analysis, the market is primarily driven by increasing demand for energy-efficient and sustainable materials, rising focus on environmental conservation, and stringent regulations promoting energy conservation in buildings and industrial processes. The construction sector, in particular, has emerged as a major consumer of aerogel due to its ability to enhance building insulation and reduce energy consumption. Additionally, advancements in aerogel manufacturing techniques and the development of novel applications are expected to fuel market growth. However, the high cost of aerogel production and the limited availability of raw materials pose challenges to market expansion. Nonetheless, market players are investing in research and development activities to overcome these obstacles and capitalize on the growing demand. Overall, the market research analysts anticipate a positive outlook for the global aerogel market, driven by increasing adoption across industries seeking energy efficiency and sustainability solutions.

Report Metric Details
Market size value in 2023 USD 1.18 billion
Market size value in 2031 USD 4.52 billion
Growth Rate 16.1%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Silica, polymers, carbon and others
  • Technology
    • supercritical drying and others
  • End-Use
    • oil & gas, building & construction, automotive, aerospace & marine, performance coatings, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Guangdong Alison Hi-Tech Co., Ltd. (China)
  • Nano High-Tech Co., Ltd. (China)
  • Svenska Aerogel AB (Sweden)
  • Active Aerogels (Portugal)
  • Jios Aerogel Corporation (Taiwan)
  • Enersens SAS (France)
  • Green Earth Aerogel Technologies (Singapore)
  • Insulgel High-Tech SRL (Italy)
  • BASF SE (Germany)
  • Dow Corning Corporation (US)
  • Surnano Aerogel Co., Ltd. (China)
  • Thermablok, Inc. (US)
  • Thermoguard (UK)
  • Ocellus Tech (India)
  • Maeropore Technologies Ltd. (UK)
  • Airglass AB (Sweden)
  • Aerogel Insulation LLC (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Aerogel Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Aerogel Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Aerogel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aerogel Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aerogel Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Aerogel Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Aerogel Market size was valued at USD 1.18 billion in 2022 and is poised to grow from USD 1.37 billion in 2023 to USD 4.52 billion by 2031, at a CAGR of 16.1% during the forecast period (2024-2031).

The Aerogel Market features a highly competitive landscape with several key players vying for market share. Some of the prominent companies operating in the market focus on strategies such as product development, collaborations, partnerships, and mergers and acquisitions to strengthen their market position. The market players are investing in research and development activities to enhance the properties of aerogel materials and explore new applications across various industries. Additionally, they are expanding their production capacities to meet the growing demand for aerogel products globally. The competitive rivalry is driven by factors such as technological advancements, cost-effectiveness, environmental sustainability, and the ability to provide customized solutions to meet specific customer requirements. With the increasing adoption of aerogel materials in industries such as oil and gas, construction, automotive, and aerospace, the competition among market players is expected to intensify further in the foreseeable future. 'Aspen Aerogels Inc. (US)', 'Cabot Corporation (US)', 'Aerogel Technologies LLC (US)', 'Guangdong Alison Hi-Tech Co., Ltd. (China)', 'Nano High-Tech Co., Ltd. (China)', 'Svenska Aerogel AB (Sweden)', 'Active Aerogels (Portugal)', 'Jios Aerogel Corporation (Taiwan)', 'Enersens SAS (France)', 'Green Earth Aerogel Technologies (Singapore)', 'Insulgel High-Tech SRL (Italy)', 'BASF SE (Germany)', 'Dow Corning Corporation (US)', 'Surnano Aerogel Co., Ltd. (China)', 'Thermablok, Inc. (US)', 'Thermoguard (UK)', 'Ocellus Tech (India)', 'Maeropore Technologies Ltd. (UK)', 'Airglass AB (Sweden)', 'Aerogel Insulation LLC (US)'

Aerogels have excellent thermal insulation properties, making them highly desirable for applications in the construction and building industry. The growing emphasis on energy efficiency and sustainable construction practices is driving the demand for aerogel-based insulation materials. For example, aerogel blankets or panels are used in insulation systems for walls, roofs, and pipelines, providing superior thermal performance and reducing energy consumption.

Advancements in Nanotechnology and Material Science: Ongoing advancements in nanotechnology and material science are enabling the development of improved aerogel formulations with enhanced properties. Researchers are exploring methods to modify aerogels by incorporating nanoparticles or functionalizing their surfaces to achieve specific characteristics such as increased strength, better moisture resistance, and improved acoustic performance. These advancements open up new opportunities and expand the potential applications of aerogels.

In 2022, North America emerged as the dominant region in the aerogel market. This growth can be attributed to increasing demand from various end-use industries such as aerospace, building & construction, automotive, and oil & gas. These industries in North America are driving the demand for aerogel applications due to their superior insulation properties and low thermal conductivity.

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