Aerogel Market Share, Opportunities and Forecast 2032
In 2024, the global aerogel market was valued at USD 1.12 billion and is expected to grow to USD 1.26 billion in 2025, reaching USD 3.03 billion by 2032. This reflects a compound annual growth rate (CAGR) of 13.3% during the forecast period. North America led the market in 2024, accounting for a 42.86% share.
Aerogels are highly porous materials known for their exceptional thermal insulation, low density, and lightweight characteristics. These properties make them ideal for use in demanding applications where traditional insulating materials fail to perform efficiently. The growing awareness of energy conservation and the need for high-performance insulating materials in both industrial and commercial sectors have further increased the adoption of aerogels.
Market Drivers
1. Demand from the Oil & Gas Industry
The oil & gas industry has been one of the primary consumers of aerogel products. Aerogels are widely used for thermal insulation in pipelines, subsea systems, and refineries due to their ability to withstand extreme temperatures while offering superior energy efficiency. Their lightweight and hydrophobic nature makes them suitable for use in offshore and subsea applications, where moisture and corrosion resistance are essential.
2. Increasing Adoption in Construction
The construction sector is embracing aerogels for insulating buildings and infrastructure. As global regulations focus on energy efficiency and reducing carbon footprints, the need for high-performance insulation materials has grown significantly. Aerogels are being incorporated into wall panels, roofing systems, and windows to improve thermal efficiency without adding significant weight or thickness to structures.
3. Growth in the Automotive and Aerospace Industries
The automotive and aerospace sectors are increasingly using aerogels for thermal and acoustic insulation. In electric vehicles, aerogels help manage heat generated by batteries and motors, contributing to vehicle safety and performance. In aerospace, aerogels are used in aircraft insulation and components that demand lightweight materials with high thermal resistance.
List of Key Market Players Profiled In The Report
Aspen Aerogels Inc. (U.S.)
Cabot Corporation (U.S.)
Aerogel Technologies LLC (U.S.)
The Dow Chemical Company (U.S.)
Surnano Aerogel Co., Ltd. (China)
Active Aerogels (Portugal)
Shanghai Aerogelzone Technology Co., Ltd. (China)
Enersens (France)
TAASI Corporation (U.S.)
Nano Tech Co., Ltd. (China)
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Market Segmentation
By Material
Silica Aerogel: Silica-based aerogels dominate the market due to their excellent thermal performance and wide availability. They are commonly used in oil & gas, construction, and aerospace applications.
Polymer Aerogel: These are gaining traction because of their flexibility and mechanical strength. Polymer aerogels are ideal for applications requiring structural integrity, such as coatings, textiles, and flexible insulation.
Carbon Aerogel: Known for their electrical conductivity and low density, carbon aerogels are used in energy storage devices like supercapacitors and batteries.
By Form
Blankets: Aerogel blankets hold the largest share in the market due to their ease of installation and widespread use in insulation applications.
Particles and Monoliths: These forms are used in more specialized applications, including coatings, composites, and niche insulation areas.
By Application
Oil & Gas: This remains the largest segment, where aerogels are used for thermal insulation in extreme environments.
Building & Construction: The second-largest segment, driven by rising energy efficiency standards in residential and commercial buildings.
Automotive, Aerospace, and Marine: These sectors utilize aerogels for their lightweight, thermal, and acoustic insulation benefits.
Industrial and Other Applications: This includes uses in cryogenic insulation, apparel, and electronics.
Regional Insights
North America dominates the global aerogel market, thanks to the presence of leading manufacturers and high demand from the oil & gas and aerospace sectors. The U.S. remains the largest contributor to the region’s market growth.
Europe follows closely, with strong demand from construction and automotive industries. The region’s stringent building codes and environmental regulations support the adoption of energyefficient materials like aerogels.
Asia Pacific is the fastest-growing region, driven by rapid industrialization and infrastructure development in countries such as China, India, and Japan. The growing need for advanced insulation in construction, transportation, and energy sectors contributes to the region’s rising market share.
Other regions, including Latin America and the Middle East & Africa, are expected to witness gradual growth due to increasing investments in infrastructure and energy projects.
Challenges
High Production Cost: Manufacturing aerogels, particularly through processes like supercritical drying, is expensive compared to traditional insulation materials.
Mechanical Fragility: Silica-based aerogels are brittle and require reinforcement or composite structures for practical use.
Lack of Awareness: In many emerging economies, knowledge about the benefits of aerogels is limited, which slows market penetration.
Trends and Opportunities
Product Innovation: Manufacturers are investing in the development of flexible, durable, and cost-effective aerogels. Polymer and hybrid aerogels are especially gaining attention due to their superior performance and versatility.
Sustainable Solutions: The push for environmentally friendly materials is encouraging the use of aerogels made from bio-based and recyclable sources.
Rising Demand in Electric Vehicles: With the rapid growth of the EV market, aerogels are increasingly being adopted for battery insulation and thermal management.
Integration in Wearable Technology: Due to their lightweight and breathable properties, aerogels are also being explored for use in thermal wear and protective clothing.
Key Industry Developments
November 2023: JIOS Aerogel (JIOS) launched a cutting-edge production facility in Pioneer, Singapore, aimed at developing aerogel-based technology that will enhance the efficiency and safety of electric vehicle (EV) batteries.
May 2023: Cabot Corporation revealed the launch of its latest series of ENTERATM aerogel particles, designed to create ultra-thin thermal barriers for lithium-ion batteries utilized in electric vehicles (EVs).
The global aerogel market is poised for substantial growth over the next decade, driven by increasing demand for energy-efficient materials and expanding applications across industries. As technological advancements reduce production costs and improve mechanical properties, aerogels are expected to become more accessible and widely adopted. North America and Asia Pacific will continue to lead the charge, while other regions steadily adopt the technology. The future of the aerogel market looks promising, with innovation and sustainability at its core.
