Global Aerogels Market Drivers, Restraints, Potential Growth Opportunities, Vendor Competitive Landscape, Trends and Forecast 2022-2032

With a projected valuation of $1.3 billion in 2022 and a compound annual growth rate (CAGR) of 19.4% from 2023 to 2032, the global aerogels market is expected to reach $7.4 billion.

Aerogel is mesoporous solid foam, generally derived by replacing the liquid portion of the gel with a gas. It is composed of an organized nanostructure with 55% porosity. Though it is solid, it is very spongy and lightweight. Likewise, it consist of low thermal conductivity, which makes it a crucial insulation substance.

The aerogel foam, can be reused, thus it is eco-friendly and cost effective in nature. There are some features which drive this market, such as growth in its usage in various industries. These comprise oil & gas, healthcare, building insulation, electronics, aerospace, and others. With developments and inventions in materials, aerogel market is anticipated to rise rapidly in the future. Use of aerogel in some newer applications, such as power generation, apparel, and agriculture, can also raise the market growth in the forecast year.

Global Aerogels Market: Growth Factors

The global aerogels market is growing due to raised demand for aerogel in various industries, for example- aerospace, oil & gas, automotive, and marine. Aerogel is an extremely low mass hard element, basically made up of air. Rising use of aerogel in manufacturing industries is one of the important reasons for increasing global aerogels market.

Global aerogels market is basically segmented based on of silica, type, carbon, polymer, and others. The polymer sub-segment is expected to register the largest CAGR during upcoming years. Geographically, North America is one of the leading aerogel market worldwide, because of strong end user awareness and increasing request from the construction applications and oil & gas. In addition, the strong base of major players in various market region is driving the progress of aerogels market.

Aerogels Market Scope

Aerogels market 2017

In July 2017 Aspen Aerogels launched a technology called ‘Pyrogel HPS’, which helps to provide better economic performance and thermal conductivity.

Global aerogels market: Key players

• Aerogels Technologies, U.S.
• Guangdong Alison Hi-Tech(China)
• Aspen Aerogels, U.S.
• BASF, Germany
• Jios Aerogel, South Korea
• Active Aerogels, Portugal
• Enersens, France
• Cabot Corporation, U.S.

Global aerogels market: Segmentation

The global aerogels market segmentation based on the application, type, form, and region.

By product

• Polymer
• Carbon
• Silica
• Others

By form

• Panel
• Particle
• Blanket
• Monolith

By Application

• Building & Construction
• Gas & Oil
• Performance Coatings
• Automotive, Aerospace & Marine
• Others

By Technology

• Supercritical Drying
• Other Drying

By Region

• Asia Pacific

• China
• Japan

• Europe

• Germany
• U.K.

• Africa
• North America

• U.S.

• Central & South America

• Brazil

Global aerogels market: Drivers

• Thinner And Lighter Alternative
• Environmental Friendly Material
• Superior Thermal Resistance
• Demand from the Construction Application

Global aerogels market: Opportunities

• Growing Applications in Day-Lighting Segment
• Enormous Demand from Lvhs Segment
• Potential Substitute for Conventional Insulation Materials
• New Applications in Apparel Market

Global aerogels market: Restraints

• Poor Mechanical Strength
• High Manufacturing Cost