Global Aerogel Insulation Market Insights Forecasts to 2032

• The Global Aerogel Insulation Market Size was Valued at USD 982 Million in 2022.
• The Market Size is Growing at a CAGR of 11.7% from 2022 to 2032
• The Worldwide Aerogel Insulation Market Size is Expected to Reach USD 2,976 Million by 2032
• Europe is expected to grow the fastest during the forecast period

Global Aerogel Insulation Market Size is Anticipated to Exceed USD 2,976 Million by 2032, Growing at a CAGR of 11.7% from 2022 to 2032. The Market is mainly driven by the rising demand for aerogel from the applications in oil & gas, construction, transportation, performance coating, daylighting & LVHS, and others.

Market Overview

Aerogel is a mesoporous solid foam made of an interconnected network of nanostructures with at least 50% porosity. It is created by replacing the gel's liquid component with a gas. Aerogel, which comes in a variety of shapes and forms, is technically a foam. Silica makes up the majority of aerogels, however other materials that can also form aerogel include carbon, iron oxide, organic polymers, semiconductor nanostructures, gold, and copper. But just a small portion of the aerogel structure is made of solid materials; up to 99.8% of it is made up of air. Because of its distinct composition, aerogel is sometimes referred to as "frozen smoke" since it appears almost ghostly. Because of these qualities, aerogel is used in many different industries, including electronics, oil and gas, aerospace, healthcare, and building insulation. Nonetheless, weak mechanical strength and high production costs are probably going to impede the aerogel market's expansion. Conversely, aerogel utilization is expected to rise significantly in applications including clothing, agriculture, and power generation due to developments in materials, which will support market growth. The market is also expanding as a result of the increasing use of aerogel as an acoustic insulation material in the body and cabin of electric vehicles (EVs), which lowers noise and gives passengers a more relaxing and quiet driving experience.

Report Coverage

This research report categorizes the market for the global aerogel insulation market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global aerogel insulation market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global aerogel insulation market.

Driving Factors

The vast spectrum of potential applications for aerogel insulations across multiple industries is one of the main motivators. The most popular type of gel is aerogel due to its affordability, heat resistance, and reusable nature. Aerogel is being used in several industries' processes. The need for aerogel insulation is growing along with the construction of both residential and commercial buildings, which is driving the market's rise. Increased demand from end-user industries such as electronics, oil and gas, aerospace, healthcare, and building insulation would also help the market. Aerogel's economical nature, which stems from its low cost and recyclable qualities, will help the market and expand its prospects.

Restraining Factors

One of the main factors impeding the growth of the aerogel market is its high cost of production. Three primary factors are associated with the manufacture of aerogel: expensive raw materials, labor-intensive process technologies, and the installation of relatively small production capacity by corporations. Aerogel material manufacture is a costly process that necessitates substantial research and development. The supercritical drying stage of the aerogel manufacturing process is the costliest.

Market Segmentation

The Global Aerogel Insulation Market share is classified into type, form, and applications.

• The silica segment is expected to grow at the fastest pace in the global aerogel insulation market during the forecast period.   

By type, the aerogel insulation market is divided into silica, carbon, polymer, and others. During the forecast period, the silica segment of the aerogel insulation market is anticipated to develop at the fastest rate. Aerogel made of silica was the first silica gel to be sold commercially and is the most common raw material used to make these gels. The increased insulating and thermal properties of silica-based aerogels, which are two or three times better than those of particle-based materials, provide a compelling value proposition and are anticipated to propel silica adoption.

• The blanket segment is expected to grow at the highest pace in the global aerogel insulation market during the forecast period.    

Based on the form, the global aerogel insulation market is divided into blanket, particle, panel, and monolith. Among these, the blanket segment is expected to grow at the highest pace in the aerogel insulation market during the forecast period. Owing to its insulating qualities, which include its resistance to water, good ventilation, low dispersion of dust and heat, and low powdering. With its superior thermal qualities, the blanket material outperforms particle material by two to three times, making it an obvious value proposition.

• The oil and gas segment are expected to hold the largest share of the global aerogel insulation market during the forecast period.

Based on the application, the global aerogel insulation market is divided into oil and gas, construction, transportation, performance coating, daylighting & LVHS, and others. Among these, the oil and gas segment is expected to hold the largest share of the global aerogel insulation market during the forecast period. It is the result of the widespread usage of aerogel materials in refineries, pipelines, and subsea equipment for thermal insulation. Aerogels are an excellent method of stopping leaks in the enormous volumes of unrefined petroleum that the oil and gas industry transports via pipelines. Their chemical inertness also makes them a good choice for pipe insulation and security.

Regional Segment Analysis of the Global Aerogel Insulation Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global aerogel insulation market over the predicted timeframe.

North America is projected to hold the largest share of the global aerogel insulation market over the predicted years. When it comes to the manufacturing and use of aerogel materials, North America is the largest region. In terms of product innovation, quality, and application development, it is the top aerogel market worldwide. Because of its lower thickness, better insulating qualities, and low heat conductivity, advanced solutions are in high demand in the oil and gas industry, which drives much of the aerogel insulation market in North America. The market for aerogel insulation is anticipated to be driven by the increasing use of aerogel materials in North American automotive, marine, and aerospace applications.

Europe is expected to grow at the fastest pace in the global aerogel insulation market during the forecast period. The aerogel market is anticipated to increase throughout Europe, as a result of the region's energy efficiency, insulation laws, and ongoing recovery efforts. The demand is being driven by Western European nations including Sweden, Germany, the United Kingdom, and France. Regulations requiring energy conservation in several sectors, such as the oil and gas, building, and residential development industries, are increasing the need for novel insulating materials and, consequently, the demand for aerogels in the region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global aerogel insulation along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Aspen Aerogels, Inc.
• The Dow Chemical Company
• JIOS Aerogel Corporation
• Svenska Aerogel Holding AB
• Surnano Aerogel Co. Ltd.
• Green Earth Aerogel Technology SL
• Intelligent Insulation Ltd.
• BASF SE
• Enersens SAS
• Active Aerogels
• Nano Tech Co., Ltd.
• Cabot Corporation
• Guangdong Alison Hi-Tech Co., Ltd.
• Taasi Corporation
• Protective Polymers Ltd

Key Target Audience

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

Recent Developments

• In May 2023, three aerogel materials from Cabot Corporation's new ENTERA aerogel particles range are available for formulators to use in thermal barrier blankets, pads, sheets, films, foams, and coatings. These are additives for thermal insulation that give lithium-ion electric vehicle batteries "ultra-thin" thermal barriers.

• In February 2023, a collaboration agreement with a global leader in the process industry to maximize the use of Quartzene in the customer's product has seen Svenska Aerogel complete the first of three work packages, marking an important milestone.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Aerogel Insulation Market based on the below-mentioned segments: 

Global Aerogel Insulation Market, By Type

• Silica
• Polymer
• Carbon
• Others

Global Aerogel Insulation Market, By Form

• Blanket
• Particle
• Panel
• Monolith

Global Aerogel Insulation Market, By Application

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

Global Aerogel Insulation Market, By Region

• 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