The global aerogel market size reached US$ 860.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,533.74 Million by 2028, exhibiting a growth rate (CAGR) of 10.29% during 2023-2028. The growing demand for efficient thermal insulation, increasing utilization of sustainable and eco-friendly materials in electronics packaging, and rising awareness about the environmental impact of traditional construction materials are some of the major factors propelling the market.
|Market Size in 2022
||US$ 860.6 Million
|Market Forecast in 2028
||US$ 1,533.74 Million
|Market Growth Rate (2023-2028)
Aerogel is a highly porous material characterized by an open, three-dimensional network of nanoscale interconnected particles, resulting in a vast surface area with minimal density. It comprises silica, polymer, metal oxide, and carbon aerogel, which is composed of carbon and finds use in energy storage devices, including supercapacitors. It is manufactured through a process called gelation, where a gel precursor undergoes supercritical drying, resulting in the removal of the liquid component while preserving the solid framework. It aids in environmental remediation by efficiently removing pollutants from air and water, contributing to cleaner ecosystems.
At present, the increasing demand for aerogel in the aerospace sector as thermal insulators, protecting spacecraft and instruments from extreme temperatures in space, is impelling the growth of the market. Besides this, the rising utilization of aerogel for cleaning up oil spills on water surfaces, as it is hydrophobic and can absorb oil while repelling water, is contributing to the growth of the market. In addition, the growing concerns about the environmental impact of traditional construction materials is offering a favorable market outlook. Apart from this, the increasing employment of aerogels as lightweight proppants in hydraulic fracturing and insulating material in subsea pipelines is supporting the growth of the market. Additionally, the rising employment of aerogel as acoustic insulation material within the cabin and body structure of electric vehicles (EVs), reducing noise and providing a quieter and more comfortable driving experience for passengers, is bolstering the growth of the market.
Aerogel Market Trends/Drivers:
Growing demand for efficient thermal insulation
The growing demand for efficient thermal insulation is currently exerting a positive influence on the expansion of the aerogel market. As industries seek to reduce energy consumption and minimize heat loss, the exceptional thermal insulation properties of aerogels are being recognized and embraced. This trend is particularly evident in the construction sector, where builders and contractors are increasingly incorporating aerogel-based insulation materials into their projects. Furthermore, the global awareness of environmental sustainability and the need to lower carbon footprints are perpetually motivating the adoption of more energy-efficient solutions. Aerogels, with their ability to provide superior thermal insulation without the need for bulky or environmentally taxing materials, align appropriately with this environmentally conscious agenda.
Rising advancements in nanotechnology
The rising advancements in nanotechnology are currently exerting a positive influence on the growth of the aerogel market. Nanotechnology enables the precise manipulation of materials at the nanoscale, allowing for the development of aerogels with unprecedented characteristics. These advancements are ongoing and continually expanding the capabilities of aerogels, making them increasingly attractive to a wide range of industries and applications. Moreover, the utilization of nanotechnology in aerogel production is contributing to the cost-effectiveness of manufacturing processes, making aerogels more accessible. This ongoing trend of innovation and refinement in the field of nanotechnology is expected to sustain a positive influence on the growth of the aerogel market in the foreseeable future.
Increasing utilization of sustainable and eco-friendly materials in the electronics packaging
The increasing utilization of sustainable and eco-friendly materials in electronics packaging is currently exerting a positive influence on the growth of the aerogel market. Companies are actively seeking alternative materials that align with their sustainability goals, and aerogels are emerging as a viable choice. These ultra-lightweight materials possess exceptional thermal insulation properties, making them ideal for applications in electronics packaging. Moreover, aerogels are environmentally friendly, as they are typically derived from renewable resources and are recyclable. Furthermore, manufacturers are progressively replacing traditional packaging materials, such as plastics and foams, with aerogels due to their remarkable properties, including exceptional thermal insulation, low density, and high porosity. These attributes align perfectly with the goals of sustainability and eco-friendliness, as they reduce the carbon footprint and environmental impact of electronic packaging.
Aerogel Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global aerogel market report, along with forecasts at the global and regional levels for 2023-2028. Our report has categorized the market based on type, form, processing, and application.
Breakup by Type:
Silica dominates the market
The report has provided a detailed breakup and analysis of the market based on the type. This includes silica, polymer, carbon, and others. According to the report, silica represented the largest segment.
Silica is a chemical component composed of silicon and oxygen atoms. It is abundant in nature and can be found in various forms, including quartz, sand, and glass. It is used in making aerogels, which exhibit low thermal conductivity and are suitable for insulating applications in extreme temperature environments. Silica aerogels can be made transparent, allowing them to be used in optics and photonics applications. They have a low refractive index, which means they do not bend light significantly. This property is advantageous in optical applications. Silica aerogels are also used as catalyst supports in chemical processes due to their high surface area and porosity.
Breakup by Form:
Blanket holds the largest share in the market
A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes blanket, particle, panel, and monolith. According to the report, blanket accounted for the largest market share.
An aerogel blanket, also known as an aerogel insulation blanket, is a type of thermal insulation material that utilizes aerogel technology to provide excellent thermal resistance while being lightweight and flexible. It is used to insulate walls, roofs, and floors in residential and commercial buildings, helping to improve energy efficiency and lower costs associated with heating and cooling. It is also used in pipelines and equipment to maintain temperature and reduce heat loss in oil and gas processing facilities. It is employed in cryogenic systems to insulate against the loss of cryogenic temperatures. Furthermore, it is integrated into various high-performance outdoor clothing to provide lightweight and effective insulation.
Breakup by Processing:
Virgin holds the maximum share in the market
A detailed breakup and analysis of the market based on the processing has also been provided in the report. This includes virgin, composites, and additives. According to the report, virgin accounted for the largest market share.
Virgin aerogels are typically aerogel materials that have not been modified or functionalized with other substances. They are aerogels in their pure, unaltered form, meaning they have not been chemically modified or combined with other substances to enhance their properties or functionality. Depending on the desired properties, virgin aerogels can be modified by adding other materials or functional groups to achieve specific performance characteristics. Virgin aerogels can be used as insulating materials in construction, industrial equipment, and even clothing to provide superior thermal insulation without adding significant weight. They can also be used to clean up oil spills by selectively absorbing oil while repelling water.
Breakup by Application:
- Oil and Gas
Oil and gas hold the biggest share in the market
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes oil and gas, construction, transportation, electronics, and others. According to the report, oil and gas accounted for the largest market share.
Aerogels can be used in oil spill cleanup operations. These materials can absorb large quantities of oil while repelling water, making them highly effective at cleaning up oil spills on water surfaces. They can be used in the form of aerogel blankets or floating devices to contain and absorb spilled oil. Aerogels can serve as a support material for catalysts in various chemical processes used in the oil and gas industry. Their high surface area and porous structure provide an ideal environment for catalytic reactions, improving the efficiency of processes, such as hydrocracking and hydrotreating. Their low density can also reduce the overall density of the drilling mud, which can be beneficial in controlling formation pressures.
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
North America exhibits a clear dominance, accounting for the largest aerogel market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America accounted for the largest market share.
North America held the biggest market due to the increasing environmental awareness among the masses and rising focus on reducing the carbon footprint to prevent pollution and global warming. Besides this, the rising purchase of electronics and various smart devices is propelling the growth of the market. Apart from this, the increasing purchase of electric vehicles (EVs) as a sustainable alternative to fuel-dependent cars is contributing to the market growth. Additionally, the rising oil and gas exploration activities to fulfill increasing energy demands are supporting the growth of the market.
Asia Pacific is estimated to expand further in this domain due to the increasing demand for energy-efficient insulating materials in various industries. Moreover, the rising construction of various energy-efficient buildings is bolstering the growth of the market.
Key market players are investing in research operations to improve aerogel materials and develop new applications, which include enhancing the performance characteristics, reducing production costs, and expanding the range of aerogel products available. They are also exploring a wider range of applications for aerogels. Leading companies are focusing on making their aerogel products more eco-friendly, using renewable materials, and adopting green manufacturing processes to meet the demands of environmentally conscious customers. Top companies are actively engaged in marketing and educating potential customers about the benefits of aerogels. They are also conducting workshops, seminars, and providing technical support to help customers integrate aerogels into their products and processes.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Aspen Aerogels, Inc.
- BASF SE
- Cabot Corporation
- The Dow Chemical Company
- JIOS Aerogel Corporation
- Svenska Aerogel Holding AB
- Enersens SAS
- Active Aerogels
- Nano Tech Co., Ltd.
- Guangdong Alison Hi-Tech Co., Ltd.
- Intelligent Insulation Ltd.
- Surnano Aerogel Co. Ltd.
- Taasi Corporation
- Protective Polymers Ltd
- Green Earth Aerogel Technology SL
- In June 2023, Aspen Aerogels, Inc. announced the opening of a state-of-the-art engineering and rapid prototyping facility in Marlborough, MA, which help manufacturers optimize the safety and performance of battery packs for eMobility and energy storage system (ESS).
- In May 2023, Cabot Corporation announced the launch of its new ENTERA™ aerogel particles portfolio, which is used to manufacture ultra-thin thermal barriers for electric vehicle (EV) lithium-ion batteries.
- In 2023, BASF SE announced the building of a new plant at the Verbund site in Zhanjiang, China, which will have a capacity of 500,000 metric tons of polyethylene (PE) annually and manufacture high-quality and reliable PE products for a wide range of durable applications.
Aerogel Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Silica, Polymer, Carbon, Others
||Blanket, Particle, Panel, Monolith
||Virgin, Composites, Additives
||Oil and Gas, Construction, Transportation, Electronics, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Aspen Aerogels, Inc., BASF SE, Cabot Corporation, The Dow Chemical Company, JIOS Aerogel Corporation, Svenska Aerogel Holding AB, Enersens SAS, Active Aerogels, Nano Tech Co., Ltd., Guangdong Alison Hi-Tech Co., Ltd., Intelligent Insulation Ltd., Surnano Aerogel Co. Ltd., TAASI Corporation, Protective Polymers Ltd., Green Earth Aerogel Technology SL, etc.
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Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aerogel market from 2017-2028.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global aerogel market.
- The study maps the leading, as well as the fastest-growing, regional markets.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aerogel industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.