Global Aerogel Market Size to worth USD 5.90 Billion by 2033: Market Insight Report

Global Aerogel Market Size to worth USD 5.90 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Aerogel Market Size is Expected to Grow from USD 1.21 Billion in 2023 to USD 5.90 Billion by 2033, at a CAGR of 17.17% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Aerogel Market Size, Share, and COVID-19 Impact Analysis, By Type (Silica, Carbon, Polymer, and Others), By Foam (Blanket, Particle, Panel, and Monolith), By Application (Oil & Gas, Construction, Transportation, Performance Coating, Daylighting & LVHS, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.         

Aerogel also known as frozen smoke is a lightweight, porous material made from silica, carbon, or metal oxides. Aerogel is highly efficient as a thermal insulator, lightweight, and offers exceptional strength due to its vast network of nanopores. It is used in space exploration, building insulation, and oil spill cleanup due to its low density, fire resistance, and high adsorption capabilities. Aerogels are becoming more and more popular in the aircraft industry because of their excellent insulating qualities, durability, and lightweight. Commercial aeroplane manufacturers utilize silica aerogels for cabin insulation to reduce weight and increase fuel efficiency, while NASA uses them for the insulation of Mars rovers. The aerospace industry's emphasis on improving performance and lowering emissions is propelling the market expansion for cutting-edge materials like aerogels. The Indian government has demonstrated a strong interest in investigating aerogel-based techniques for treating textile dyeing effluent as part of their efforts to make the textile sector more ecologically friendly. However, high production costs in aerogel manufacturing, including complex processes like supercritical drying, limit their widespread use in cost-sensitive applications like consumer goods and certain industrial sectors.

The silica segment is predicted to hold the largest market share through the forecast period.

Based on the type, the aerogel market is classified into silica, carbon, polymer, and others. Among these, the silica segment is predicted to hold the largest market share through the forecast period. These materials' inorganic structures, which are resistant to fire and can tolerate temperatures of up to 1,400°C, are the cause of this. Their increased demand is a result of their excellent heat resistance and thermal insulation characteristics. Silica aerogel is used to create aerogel blankets with fibre reinforcements to make inelastic aerogels into strong, stretchy, and hydrophobic materials.

The blanket segment is anticipated to hold the highest market share during the projected timeframe.    

Based on the foam, the aerogel market is divided into blanket, particle, panel, and monolith. Among these, the blanket segment is anticipated to hold the highest market share during the projected timeframe. The delicate aerogel is changed into a pliable and robust substance by the blanket's structure. Buildings, industries, and the textile sector can use them as thermal insulation because of their high levels of breathability, flexibility, bendability, water resistance, and wrappability. Furthermore, they have low powdering and dusting properties.

The transportation segment is anticipated to hold the greatest market share during the projected timeframe.   

Based on the application, the aerogel market is divided into oil & gas, construction, transportation, performance coating, daylighting & LVHS, and others. Among these, the transportation segment is anticipated to hold the greatest market share during the projected timeframe. The transportation sector, including automobile, aerospace, and marine industries, is gaining traction in the aerogel market due to its lightweight, excellent thermal insulation properties. NASA has utilized aerogels in various missions, and the aviation, military, and defense sectors also require high-performance thermal insulation materials like aerogels.

North America is estimated to hold the largest share of the aerogel market over the forecast period.

North America is estimated to hold the largest share of the aerogel market over the forecast period. Aerogel is utilized in the automotive, aerospace, and maritime industries, and North America leads the world market for it. The US is the biggest producer of shale, and shale gas pipelines help to expand the market. Aerogel is used by NASA to insulate spacecraft from heat. The industry is growing because of the US government's strict energy-efficient building regulations and consumer awareness of eco-friendly products.

Asia Pacific is predicted to have the fastest CAGR growth in the aerogel market over the forecast period. The development of construction, remodelling, and industrial growth is predicted to propel Europe to become the second-largest contributor to the worldwide aerogel market. Silica aerogel is a suitable insulating material for buildings that need to reduce their energy usage by 20% to comply with the EU's energy efficiency strategy.

Competitive Analysis

Major key players in the aerogel market include Aspen Aerogels, Inc., Cabot Corporation, Armacell International S.A., Nano Tech Co., Ltd., Zhejiang UGOO Technology Co.,Ltd., Guangdong Alison Technology Co., Ltd., Beerenberg AS, Aerogel Technologies LLC., Enersens, IBIH Advanced Materials Co., Ltd., Aerogel-it GmbH, and Others.

Recent Development

• In November 2023, in Pioneer, Singapore, JIOS Aerogel (JIOS) opened a cutting-edge production plant. The primary goal of this new facility is to produce cutting-edge aerogel-based technologies that will enhance the performance and safety of electric vehicle (EV) batteries. By using innovative aerogel technologies to maximize thermal insulation and energy storage systems in batteries, the company's project demonstrates its dedication to improving the longevity and efficiency of EVs.

• In March 2023, Fibenol and Aerogel-it collaborated to create a bio-aerogel made from lignin, a naturally occurring polymer that Fibenol produces by digesting biomass directly. The goal of this partnership is to investigate improved, sustainable aerogel solutions. In line with the growing demand for greener, renewable materials across a range of industries, particularly for applications like insulation and energy-efficient goods, the bio-aerogel seeks to provide exceptional thermal insulation while being environmentally benign.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the aerogel market based on the below-mentioned segments:

Global Aerogel Market, By Type

• Silica
• Carbon
• Polymer
• Others

Global Aerogel Market, By Foam

• Blanket
• Particle
• Panel
• Monolith

Global Aerogel Market, By Application

• Oil & Gas
• Construction
• Transportation
• Performance Coating
• Daylighting & LVHS
• Others

Global Aerogel Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa