Global Aerogel Market by Product (Silica, Polymers, Carbon, and other Product), By Technology (Supercritical Drying and Other Technology), By Form(Blanket, Particle, Panel, Monolith), By End-User(Oil & Gas, Building & Construction, Automotive, Aerospace & Marine, Performance Coatings), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global Aerogel Market size accounted for USD 876.5 million. This market is estimated to reach USD 2600.4 million at a CAGR of 11.8% between 2023 and 2032.

Aerogels are formed into thin Monoliths or films and utilized for structural foam replacement, vibration dampening, thin-film thermal insulation, coatings, acoustic, and other automotive-related applications.

Earlier, industries focused on the specified parameters in the vehicle, such as comfort, performance, efficiency, or safety; however, with help of the aerogels, all requirements can be combined in the vehicle, making them ideal raw materials for automotive use. The automotive sector is transitioning from internal combustion engines (ICEs) to fully electric and automatic moving machines.

The Aerogels market comes in solid form and has special characteristics. Traditionally, these have been produced utilizing a supercritical drying technique. Yet, cutting-edge technologies have been created for more effective outcomes. They are created by utilizing a specialized process to remove liquid from a gel, producing a 3D structure with an air range of 80 to 99%.

They can be made from any material; however, silica aerogel is the most frequent substance used in their production. Silica, polymer, and carbon are only a few of the other components needed in their production.

Key Takeaways

• Market Growth: The Aerogel market reached USD 876.5 million in 2022 and is projected to grow at a CAGR of 11.8%, aiming to reach USD 2600.4 million by 2032.
• Aerogel Applications: Aerogels are versatile materials used in structural foam replacement, vibration dampening, thin-film thermal insulation, coatings, acoustics, and automotive-related applications.
• Driving Factors: The market is driven by the need for energy-efficient and sustainable materials in various industries, including oil and gas, automotive, construction, and aerospace. It is also used in environmental remediation and supercapacitors.
• Restraining Factors: High production costs, limited awareness among potential customers, limited availability, and restrictions in certain applications due to health and safety concerns can hinder the widespread use of aerogels.
• Product Segmentation: Silica aerogels dominate the market with a 67% share, while polymer aerogels are the fastest-growing segment.
• Technology Segmentation: Supercritical drying is the predominant technology, making up 73% of the market share.
• Form Segmentation: Blanket aerogels hold a significant share (68%), favored for their insulation qualities, while particle aerogels are the fastest-growing segment.
• End-User Segmentation: The oil and gas sector accounts for the largest share (62%) due to its wide range of applications, and the building and construction sector is the fastest-growing segment.
• Growth Opportunities: The construction industry is a significant user of aerogels, especially for insulation, and the automotive industry is increasingly adopting aerogels to reduce weight and improve fuel efficiency.
• Latest Trends: The oil and gas, construction, automotive, and aerospace industries are driving increased demand for aerogels. Silica aerogels are in high demand due to their excellent thermal insulation properties.
• Regional Analysis: North America leads the market with a 46% share, driven by demand from various end-users. Europe is expected to be the fastest-growing region, driven by energy conservation and sustainable construction practices.
• Key Players: Major players in the aerogel market include Aspen Aerogels Inc., Cabot Corporation, BASF SE, and others. Companies are investing in research and development to create innovative aerogel products.

Driving Factors

The global aerogel market is a unique set of priorities that make it an attractive material for a variety of applications.

One of the major driving factors of the global aerogel market is a unique set of priorities that make it an attractive material for a variety of applications. Owing to its enormous surface area, extremely lightweight, and low thermal conductivity aerogel is an effective insulating material for a variety of industries as well as commercial applications.

The growing demand for energy-efficient buildings also the need for advanced thermal insulating material in various industries including gas and oil automotive construction and aerospace, is the dynamic growth of the aerogel market. Mostly aerogel is used in environmental remediation also electro code material for supercapacitors.

Additionally, the demand for aerogel is increasing focus on sustainability and the need for eco-friendly solutions is fueling the market. As a result, new and creative users for aerogel have emerged including the field of energy and as the sustainable alternative to traditional insulation material.

The global aerogel market is expected to experience significant growth in the coming year owing to its unique priorities as well as its increasing use in various sectors. Also the growing demand for energy-efficient as well as sustainable solutions.

Restraining Factors

Due to the high production cost, aerogel is not used widely in a variety of industries. The labor and complex manufacturing process is responsible for the high production cost of aerogel. Aerogel is brittle it can quickly break under pressure. This limits its use in applications that require durability like construction as well as transport. Because few potential customers are aware of the advantages of aerogel. This is especially true in developing markets where knowledge and awareness of sophisticated materials.

There are not many manufacturers of aerogel and it is not available from wide sources. It is difficult to find the necessary material for large-scale projects due to their restricted availability. The use of aerogel in a few applications may be restricted by the government agency owing to concerns about human health as well as medical issues. This may restrict its use in some markets like the food as well as the medical sector.

By Product Analysis

The Silica Segment Accounted for the Largest Revenue Share in the Aerogel Market in 2022.

Based on product, the Silica segment dominates the aerogel market with 67% Aerogel market share, Owing to their effective chemical properties as well as their current and potential uses in a wide range of technical fields, the silica aerogel market has increased more popularity across the world. These gels are nanostructured materials with outstanding heat insulation qualities, including enhanced porosity, high specific surface areas, low density, as well as lower dielectric constant.

The Polymer Segment is the Fastest Growing Segment in the Aerogel Market.

The Polymer segment is projected as the fastest-growing segment in the Aerogel market from 2023 to 2032. Due to the greater chemical as well as the physical advantage of silica aerogel, the demand for polymers is predicted to expand at the fastest rate globally through their forecast period. Polymer aerogel is utilized for automobile antennas, automobile interiors, electronic subtract construction and building as well as defense applications. Polymer is created in a monolithic form. Polymers are mechanically strong and tend to lose some of the benefits of silica like transparency as well as low thermal conductivity.

By Technology Analysis

Supercritical Drying Holds the Significant Share in Technology Segment in Aerogel Market.

Based on Technology, the Supercritical drying segment dominates the aerogel market with a 73% market share. Supercritical drying is the crucial step in scaling up laboratory drying units to pilot industrial scales as well as in determining industrial production economics. The optimum method for reducing shrinkage is doing high-temperature supercritical drying using an organic solvent, which enables supercritical drying to be lower than carbon dioxide.

By Form Analysis

The Blanket Holds the Significant Share in Form Segment in Aerogel Market.

Based on Form, the Blanket segment dominates the global aerogel market with a 68% market share, owing to its suitability for insulation such as great breathability, low dusting, water resistance as well as low powdering and light diffusion. Blankets provide thermal insulation in both buildings as well as clothing. These qualities are anticipated to increase demand for blanket aerogel.

The Particle Segment is Fastest fastest-growing segment in the Aerogel Market.

The Particle segment is projected as the fastest-growing segment in the aerogel market from 2022 to 2031. Owing to superior chemical as well as physical characteristics over blanket aerogels. These goods are used in a wide range of industries including building and construction, antennas, and electronic substrates.

By End-User Analysis

The Oil and Gas Hold the Significant Share of the End-User Segment in the Aerogel Market.

The oil and gas sector dominates the market with a 62% market share. Oil and gas are used by businesses and many industrial sectors for lots of different purposes. such as hearting, transportation as well and production of goods. intense the production of plastic material, chemicals, and other goods in the petrochemical sector needs natural gas and oil as feedstock.

Oil and gas are major sources of fuel in the transportation sector. Which also includes shipping and aircraft firms. The oil and gas sector also has a significant impact on the overall economy. Major gas and oil producers frequently rely on these sources as a key source of income and economic expansion. For instance, Russia, Saudi Arabia, and the United States are significant producers as well as exporters of oil.

The Building and Construction Segment is the Fastest Growing Segment in the Aerogel Market.

Due to superior thermal insulation capabilities. Which makes it the perfect material for use in insulation. Aerogel is in high demand in the building and construction industry. Aerogel insulation market can be applied to a variety of surfaces including floors, walls, windows as well and doors.

Market Key Segments

Based on Product

• Silica
• Polymers
• Carbon
• Other product

Based on Technology

• Supercritical Drying
• Other Technology

Based on Form

• Blanket
• Particle
• Panel
• Monolith

Based on End-User

• Oil & Gas
• Building & Construction
• Automotive, Aerospace & Marine
• Performance Coatings
• Other End-User

Growth Opportunity

The Construction Industry Is a Major User of Aerogels, Particularly for Insulation Purposes

The demand for energy-efficient materials like aerogels is anticipated to increase as governments and industries throughout the world explore solutions to cut energy consumption and lower carbon emissions.

Aerogels are widely used in the building industry, especially for insulation. The market for aerogels is anticipated to rise as building activity picks up in emerging nations as well as demand for energy-efficient structures increases internationally.

The car industry is using aerogels more frequently to lighten components and increase fuel economy. The aerogel market is anticipated to expand as electric car sales soar also consumer demand for lightweight materials increases.

Latest Trends

Oil and Gas, Construction, Automotive as well and Aerospace Industries Have Been Driving Increased Demand for Aerogel On the Market.

oil and gas, Construction, automotive as well and aerospace industries have been driving increased demand for aerogel on the market. In these fields, aerogels are employed as insulating materials, as supports for catalysts, and in energy storage systems.

Due to its outstanding thermal insulation qualities, large surface area, and lightweight, silica aerogels, the most popular type of aerogel, were in high demand. These characteristics make them perfect for uses including oil & gas pipeline insulation, building insulation, and vehicle insulation.

Aerogel technology was always growing owing to the research and development in that sector, which also led to novel aerogel formulations and production techniques. Future aerogel products were anticipated to be more effective and affordable as a result of these developments.

To create brand-new and cutting-edge aerogel goods, several major players in the market were making significant investments in research and development. , It was anticipated that this investment would result in the release of new aerogel goods which would enhance the market expansion.

Global demand for aerogel was growing driven in part by demand from developing nations like India, China, and Brazil. In upcoming years this increase was anticipated to fuel the aerogel market expansion even further.

Regional Analysis

North America Accounted for the Largest Revenue Share in Aerogel Market in 2022.

North America is estimated to be the most lucrative market in the global Aerogel market, with the largest market share of 46%. Owing to the growing demand from end-users like construction and building, oil and gas, automotive, and aerospace.

North America has huge growth in terms of product innovation, research, and development as well as the quality of production for the aerogel market. The United States and Canada are the major countries driving the growth of this aerogel market.

Europe is expected as Fastest Growing Region in the Projected Period in the Aerogel Market.

Europe is expected as fastest growing region in the forecast period in the Aerogel Market. Europe is another significant market for the aerogel market. They are primarily driven by strength regulation related to energy conservation as well as sustainable construction practices. The UK, France, And Germany are major countries contributing to the growth of the aerogel market in this region.

Key Regions and Countries

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Due to a small number of manufacturers with extensive global networks, the industry is moderately competitive. Due to the existence of corporations with significant financial resources for ongoing development, North America, the Middle East, and Africa have a significant influence on it. Because of the chemical and physical advantages of aerogels, their demand will continue to be quite high worldwide.

The high switching costs of consumers are a significant component in the strong negotiating position of the suppliers. Another important aspect contributing to the high supplier power is the small number of businesses that have a strong market position and can employ aerogels efficiently.

Market Key Players

• Aspen Aerogels Inc
• Cabot Corporation
• Aerogel Technologies LLC
• Active Aerogels LDA
• BASF SE
• JIOS Aerogel Corporation
• Nano Technology Co Ltd
• Dow Inc
• Enersens
• Other Key Players

Recent Developments

• In April 2023, Aspen Aerogels created a new aerogel called Firegel™. It is more fire-resistant than older types. Firegel™ is ideal for critical applications in industries like aerospace and defense where fire resistance is crucial.
• In May 2023, Cabot Corporation expanded its aerogel production in China. It will be done in 2024 and will increase their production by 50%.
• In June 2023, the University of California, Berkeley developed a new kind of aerogel called Green Aerogel™. It is made from recycled materials and is more sustainable than regular aerogels.

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