Global Aerogels Market, 2023-2028

Market Overview

Aerogel is a unique synthetic material composed of 90% air trapped within a porous, sponge-like nanostructure derived from an alcohol gel precursor. Despite the lightweight composition, aerogels exhibit high structural strength, making them traditionally valued in aerospace applications.

As an insulation material, aerogel offers unparalleled thermal performance exceeding conventional options like mineral wool, fiberglass and calcium silicate. The nanoporous network severely restricts the three main heat transfer modes – conduction, convection and radiation. This enables remarkable R-values per inch for aerogel, typically R-10 to R-30, whereas traditional insulations range from R-2 to R-3.

Silica-based aerogel demonstrates especially low thermal conductivity, as silica itself is an intrinsically poor heat conductor. Aerogel’s superior insulating abilities have proven invaluable for NASA, insulating astronauts and the Mars Rover from the extreme cold of space.

Additional benefits of aerogel include its lack of irritating fibers, acoustic damping, hydrophobic nature, and optical clarity. The flexible blanket format eases installation in various uses. However, high cost and brittleness remain weaknesses compared to rigid foam boards.

Based on the forecasts provided by Tanalyze, it is anticipated that the global aerogels market will experience robust growth in the upcoming years. The projections indicate that the market will witness an incremental value of USD 373.5 million, with a compound annual growth rate of 8.4% between 2023 and 2028. Aerogels’ exceptional insulating properties, combined with continued improvements in cost and durability, are driving uptake across these key end-use applications.

Research Coverage

This report presents an in-depth analysis and segmentation of the aerogels market, with market size forecasts extending until 2028. The market has been categorized based on material, product form, end user, and region. Furthermore, a comprehensive evaluation of key industry players has been conducted to provide valuable insights into their business profiles, product offerings, strategic approaches, partnerships, expansions, and acquisitions pertaining to the aerogels market.

This report offers an in-depth analysis of the global aerogels market segmented across:
Materials – comprising carbon, metal oxides, and silica aerogels
Product Forms – including blankets, particles/powders, and other forms
End-User Applications – spanning key industries such as automotive, aerospace, construction, marine, defense, oil and gas, among others
Regional Markets – covering Asia-Pacific, Europe, North America, and Rest of World

Aerogel is derived from gels, which are substances where solid particles are dispersed within a liquid medium. The initial aerogel was created using silica gels, but subsequent research involved other materials such as alumina, chromia, carbon, and tin oxide. By utilizing a process known as supercritical drying, the liquid component of the gel is eliminated, resulting in a solid, hollow framework. The resulting aerogel is a porous and extremely lightweight lattice consisting of over 90% air.

Aerogels are categorized into three types: silica-based aerogel, carbon-based aerogel, and metal oxides-based aerogel. They can be found in various shapes and sizes, but their primary commercial applications involve the production of blankets or panels, particles, and block-shaped products.

Silica aerogels represent the most common type leveraged for thermal insulation, given silica’s intrinsically low thermal conductivity. Carbon aerogels are applied in energy storage devices like supercapacitors and fuel cells, exploiting their high surface area and porosity. Metal oxide aerogels find niche uses as catalysts, explosives, and for carbon nanotube production, but are rarely utilized in insulation due to high costs.

In terms of product forms, aerogel blankets have become the most widely used format, owing to their ability to conform around curved surfaces, fit into narrow cavities, and provide insulation across large surface areas. Aerogel particles and powders offer an alternative for filling small spaces. Monolithic aerogel blocks are employed when the object requiring insulation can be mounted onto the aerogel surface, like with fuel cells.

By end user, the global aerogels market has been segmented into automotive and aerospace, building and construction, marine and defense, oil and gas, and others. In 2022, the oil and gas segment made up the largest share of revenue generated by the aerogels market. As a superinsulator, aerogel is uniquely suited for cryogenic insulation of LNG storage tanks and piping systems. The nanoporous structure enables maintenance of the LNG at -260°F with minimal boil-off losses during marine transport. Aerogel also insulates refinery piping carrying fluids at temperatures exceeding 500°F.

Geographically, the global aerogels market has been segmented into Asia-Pacific, Europe, North America, and the Rest of the World (RoW). In 2022, Asia-Pacific accounted for the largest revenue share in this market. The rapidly expanding electric vehicle industry in the region, especially in China which represents the world’s largest EV market, is generating substantial demand for aerogel insulation materials to enhance battery efficiency and thermal management.

Asia-Pacific’s role as a major maintenance, repair and overhaul (MRO) hub for the commercial aviation industry worldwide is fueling aerogel consumption for aircraft insulation and other applications. Aerogel blankets line cabin walls and floor panels to dampen noise, reduce weight, and provide superior thermal insulation during flight. The nanoporous composition enables very low thermal conductivity while adding minimal mass. Aerogel’s hydrophobicity also prevents condensation issues in aircraft despite humidity and altitude changes.

Competitive Landscape

The global aerogels market is characterized by intense competition, with several key players leading the industry. Among the top companies in the Global Aerogels Market Study are Aerogel Technologies, LLC, Aspen Aerogels, Inc., BASF SE, and Cabot Corporation. These companies have established themselves as major players in the market.

In addition to these industry leaders, there are other notable participants who also contribute significantly to the growth of the aerogels market. Companies such as Active Aerogels Lda. (Grupo BEL), American Aerogel Corporation, Armacell LLC, Dow Inc., Enersens SAS, Guangdong Alison High-tech Co. Ltd., Guizhou Aerospace Wujiang Electro-mechanical Equipment Co. Ltd., IBIH Advanced Materials Co. Ltd., JIOS Aerogel Corporation, Nano Tech Co. Ltd., Protective Polymers Ltd., Shenzhen Aerogel Technology Co. Ltd., Svenska Aerogel Holding AB, TAASI Corporation, and Xiamen Namate New Materials Technology Co. Ltd. are actively involved in driving innovation and product development within the aerogels industry.

Aerogels Industry Developments

▸ Feb. 17, 2022 – Aspen Aerogels to receive $150M investment from Koch Strategic Platforms. The funding will support Aspen’s growth in aerogel thermal barrier solutions. Koch acquired convertible notes and Aspen common stock. Aspen is a leader in sustainable aerogel-based technologies for thermal management applications.
▸ May 6, 2021 – KRAHN Chemie Group has acquired distribution rights for Quartzene® aerogel from Svenska Aerogel in Italy and Poland, expanding its portfolio. Quartzene® is a nanoporous insulation and additive sustainably produced from natural resources like silicon, water, and energy.

Key Questions Answered

What is the projected global market size of aerogels by 2028?
Which material segment demonstrates the most significant dominance?
In terms of market dominance, which product form segment prevails in the aerogels market?
Which end user segment generates the highest revenue?
In the aerogels market, which region segment attains the foremost position?
Who are the key players with the largest market share in the aerogels market?
What is the estimated global market size for the aerogels market in 2023?
What are the main factors driving the growth of the aerogels market?
What is the expected incremental growth of the aerogels market during the forecast period?

Table of Contents

1. Scope and Methodology
1.1 Introduction
1.2 Report Scope
1.3 Research Methodology
2. Executive Summary
3. Market Overview
4. Global Aerogels Market – Material Analysis
4.1 Carbon
4.2 Metal oxides
4.3 Silica
5. Global Aerogels Market – Product Form Analysis
5.1 Blankets
5.2 Particles and powders
5.3 Others
6. Global Aerogels Market – End User Analysis
6.1 Automotive and aerospace
6.2 Building and construction
6.3 Marine and defense
6.4 Oil and gas
6.5 Others
7. Global Aerogels Market – Region Analysis
7.1 Asia-Pacific
7.2 Europe
7.3 North America
7.4 Rest of the World (RoW)
8. Patents Analysis
9. Competitive Landscape
9.1 Competitive Scenario
9.2 Market Positioning/Share Analysis
9.3 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
10. Company Profiles
10.1 Active Aerogels, Lda. (Grupo BEL)
10.2 Aerogel Technologies, LLC
10.3 American Aerogel Corporation
10.4 Armacell LLC
10.5 Aspen Aerogels, Inc.
10.6 BASF SE
10.7 Cabot Corporation
10.8 Dow Inc.
10.9 Enersens SAS
10.10 Guangdong Alison High-tech Co., Ltd.
10.11 Guizhou Aerospace Wujiang Electro-mechanical Equipment Co., Ltd.
10.12 IBIH Advanced Materials Co., Ltd.
10.13 JIOS Aerogel Corporation
10.14 Nano Tech Co., Ltd.
10.15 Protective Polymers Ltd.
10.16 Shenzhen Aerogel Technology Co., Ltd.
10.17 Svenska Aerogel Holding AB
10.18 TAASI Corporation
10.19 Xiamen Namate New Materials Technology Co., Ltd.
APPENDIX
DISCLAIMER

Companies Mentioned

A selection of companies mentioned in this report includes:
Active Aerogels, Lda. (Grupo BEL)
Aerogel Technologies, LLC
American Aerogel Corporation
Armacell LLC
Aspen Aerogels, Inc.
BASF SE
Cabot Corporation
Dow Inc.
Enersens SAS
Guangdong Alison High-tech Co., Ltd.
Guizhou Aerospace Wujiang Electro-mechanical Equipment Co., Ltd.
IBIH Advanced Materials Co., Ltd.
JIOS Aerogel Corporation
Nano Tech Co., Ltd.
Protective Polymers Ltd.
Shenzhen Aerogel Technology Co., Ltd.
Svenska Aerogel Holding AB
TAASI Corporation
Xiamen Namate New Materials Technology Co., Ltd.