Report Description Table of Contents Aerogel Market Size & Overview The Global Aerogel Market was valued at USD 1.29 billion in 2024 and is projected to reach around USD 3.61 billion by 2030, expanding at a CAGR of 16.6% during the forecast period. The market is experiencing robust growth, propelled by increasing demand for advanced thermal & fire-resistant insulation. The EV sector has fueled rapid expansion, with the aerogels market for EV batteries growing nearly 20-fold between 2021 to 2024. Aerogel Market Dynamics: Market Drivers The aerogel market is growing rapidly due to rising demand for high-performance insulation across construction, energy & transportation sectors. Aerogels offer thermal conductivity as low as 0.013 W/m·K, making them up to ten times more efficient than traditional insulation. As prevention standards and thermal mitigation become more stringent across the US & Europe, the demand for aerogel thermal barriers like PyroThin is projected to rise substantially. Aspen has secured multi-year agreements with several leading EV suppliers & manufacturers to produce aerogel blankets for EV batteries. Its customers include General Motors, Scania, Toyota, Audi and Automotive Cells Company. In the oil & gas industry, their use in cryogenic and pipeline insulation is expanding alongside the global LNG trade, which exceeded 400 million tonnes in 2023. Market Restraints Manufacturing aerogels particularly silica & carbon types requires energy-intensive supercritical drying, contributing to prices that are often 3–5 times higher than conventional insulation. This cost barrier limits adoption in price-sensitive sectors like residential construction. While technological advances are improving fabrication methods, only a limited number of commercial producers currently operate globally, constraining supply & slowing market penetration in emerging economies. These factors collectively pose hurdles to widespread adoption, especially outside high-performance or specialty markets. Market Opportunities The aerogel market is poised for significant expansion due to emerging applications in EVs, aerospace & energy-efficient buildings. As global construction scales up, with building floor area projected to grow by 75% by 2050, the need for compact, high-performance insulation is accelerating. In transportation, aerogels are gaining momentum as lightweight thermal barriers especially in EV battery packs, where demand is rising. Additionally, global investments in sustainable infrastructure, estimated to exceed USD 4.5 trillion annually by 2030 (OECD), are creating fertile ground for aerogels in green construction & industrial retrofitting. Aerogel Market Segmentation: A Comprehensive Overview By Type: Silica Aerogel Carbon Aerogel Polymer Aerogel Metal Oxide Aerogel Others By Form: Blanket Particle Panel Monolith By Processing: Virgin Aerogel Additives Composites By Application: Oil & Gas Transportation Building & Construction Performance Coatings Pharmaceuticals Industrial & Cryogenics Others By Region: North America Asia-Pacific Europe Latin America Middle East & Africa Segmentation Analysis – Aerogel Market By Type: Silica Aerogel holds the largest market share at 70%, driven by its high thermal performance and use in construction & energy sectors. Silica aerogels can achieve thermal conductivity as low as 0.013 W/m·K, making them up to 10x more efficient than fiberglass insulation. Polymer Aerogel is the fastest-growing segment, projected to grow at a CAGR of 15%, fueled by applications in automotive interiors and aerospace insulation. The global polymer aerogel demand is expected to double by 2030 due to increasing use in lightweight EV components. By Form: Blanket leads the market with 55% share, favored in oil & gas and industrial insulation for its flexibility and large-area coverage. Aerogel blankets are used in over 70% of subsea pipelines requiring high-temperature insulation in offshore projects. Monolith is the fastest-growing form, expanding at a CAGR of 14.3%, owing to its role in precision instruments and electronics. Monolith aerogels are being increasingly adopted in infrared sensors & photonics, with growing demand in defense & optics industries. By Processing: Virgin Aerogel dominates with a 60% market share, as pure aerogels remain the standard in high-performance insulation across industries. Virgin aerogels are used in NASA missions, including Mars rovers, due to their exceptional insulating properties in extreme environments. Composites are the fastest-growing, with a CAGR of 14%, as aerogels are increasingly combined with polymers or fabrics to improve durability. Aerogel composites are now used in thermal jackets, gloves & protective gear, creating opportunities in military & PPE markets. By Application: Oil & Gas holds the largest share at 40%, due to aerogels' critical role in high-temperature and cryogenic insulation of pipelines and equipment. Global pipeline infrastructure investments are projected to exceed USD 320 billion by 2030, sustaining demand for high-performance insulation. Transportation is the fastest-growing application, projected to grow at a CAGR of 16.2%, driven by electric vehicle and aircraft insulation needs. With EV sales expected to reach 45 Mn annually by 2030, demand for battery thermal management is accelerating aerogel adoption. By Region: North America leads with around 35% market share, supported by early adoption of aerogels in energy & construction sectors under green building mandates. The U.S. Energy Department estimates that building insulation improvements could cut heating and cooling costs by up to 30%, boosting aerogel demand. APAC is the fastest-growing region, with a CAGR over 15%, due to industrial expansion, infrastructure development & government-led energy efficiency initiatives. APAC accounted for over 50% of global construction activity in 2023, making it a key region for aerogel insulation materials. Aerogel Market Report Coverage Report Attribute Details Forecast Period 2024 – 2032 Market Size Value in 2024 USD 1.29 Billion Revenue Forecast in 2030 USD 3.61 Billion Overall Growth Rate CAGR of 16.6% (2024 – 2030) Base Year for Estimation 2023 Historical Data 2017 – 2021 Unit USD Billion, CAGR (2024 – 2030) Segmentation By Type, By Form, By Processing, By Application, By Geography By Type Silica Aerogel, Carbon Aerogel, Polymer Aerogel, Metal Oxide Aerogel, Others By Form Blanket, Particle, Panel, Monolith By Processing Virgin Aerogel, Additives, Composites By Application Oil & Gas, Transportation, Building & Construction, Performance Coatings, Pharmaceuticals, Industrial & Cryogenics, Others By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa Country Scope U.S., Canada, Germany, China, Japan, India, Brazil, UAE, etc. Market Drivers Rising demand for lightweight and energy-efficient materials, growth in oil & gas insulation needs Pricing and Purchase Options Customization available upon request Key Players in the Aerogel Market Aspen Aerogels Inc. Cabot Corporation Armacell Guangdong Alison Hi-Tech Co., Ltd. Nano Tech Co., Ltd. BASF SE Enersens JIOS Aerogel Corporation Active Aerogels Svenska Aerogel Holding AB Frequently Asked Question About This Report Who are the Major Players in the Aerogel Market? Major players include Aspen Aerogels Inc., Cabot Corporation, Armacell, Nano Tech Co. Ltd., Guangdong Alison Hi-tech Co. Ltd., BASF SE, Active Aerogels, Enersens, JIOS Aerogel Corporation, and Svenska Aerogel Holding AB. Which region held the largest Aerogel Market share? North America held the largest market share in 2024, supported by strong demand from the oil & gas, industrial insulation, and aerospace sectors, along with the presence of major aerogel manufacturers and favorable building efficiency regulations. How big is the Aerogel Market? The market was valued at USD 1.29 billion in 2024 & is projected to reach around USD 3.61 billion by 2030, growing at a CAGR of 16.6%. What are the key factors driving the growth of the Aerogel Market? Key drivers include the superior thermal insulation efficiency of aerogels (up to 10x better than traditional materials), the push for energy efficiency and emission reduction, and the expanding use of aerogel materials in EVs, LNG pipelines, building envelopes, and aerospace systems. Which Application/Type had the largest Aerogel Market share? Silica Aerogel led the market by type with over 70% share, due to its versatility and performance in insulation, while Oil & Gas was the leading application segment, driven by the use of aerogel blankets and panels in pipeline and cryogenic system insulation. Source- https://www.greencarcongress.com/2024/10/20241017-aspen.html https://www.nature.com/articles/s44221-024-00290-x https://techxplore.com/news/2023-11-scientists-nanocellulose-based-aerogel-cooler.html Table of Contents for the Aerogel Market Report Executive Summary • Market Overview • Market Attractiveness by Type, Form, Processing, Application, and Region • Strategic Insights from Key Executives (CXO Perspective) • Historical Market Size and Future Projections (2022–2032) • Summary of Market Segmentation by Type, Form, Processing, Application, and Region Market Share Analysis • Leading Players by Revenue and Market Share • Market Share Analysis by Type, Form, and Application Investment Opportunities in the Global Aerogels Market • Key Developments and Innovations • Mergers, Acquisitions, and Strategic Partnerships • High-Growth Segments for Investment Market Introduction • Definition and Scope of the Study • Market Structure and Key Findings • Overview of Top Investment Pockets Research Methodology • Research Process Overview • Primary and Secondary Research Approaches • Market Size Estimation and Forecasting Techniques Market Dynamics • Key Market Drivers • Challenges and Restraints Impacting Growth • Emerging Opportunities for Stakeholders • Impact of Macroeconomic and Technological Factors • COVID-19 and Post-Pandemic Analysis Global Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type: o Silica Aerogel o Polymer Aerogel o Carbon Aerogel o Metal Oxide Aerogel o Others • Market Analysis by Form: o Blanket o Panel o Particle o Monolith • Market Analysis by Processing: o Virgin Aerogel o Composites o Additives • Market Analysis by Application: o Oil & Gas o Building & Construction o Transportation o Performance Coatings o Daylighting & LVHS (Low Vision High Sensitivity) o Pharmaceuticals o Industrial & Cryogenics o Others • Market Analysis by Region: o North America o Europe o Asia-Pacific o Latin America o Middle East & Africa North America Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type • Market Analysis by Form • Market Analysis by Processing • Market Analysis by Application • Country-Level Breakdown: o United States o Canada o Mexico Europe Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type • Market Analysis by Form • Market Analysis by Processing • Market Analysis by Application • Country-Level Breakdown: o Germany o United Kingdom o France o Italy o Spain o Rest of Europe Asia-Pacific Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type • Market Analysis by Form • Market Analysis by Processing • Market Analysis by Application • Country-Level Breakdown: o China o India o Japan o South Korea o Rest of Asia-Pacific Latin America Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type • Market Analysis by Form • Market Analysis by Processing • Market Analysis by Application • Country-Level Breakdown: o Brazil o Argentina o Rest of Latin America Middle East & Africa Aerogels Market Analysis • Historical Market Size and Volume (2022–2032) • Market Size and Volume Forecasts (2024–2032) • Market Analysis by Type • Market Analysis by Form • Market Analysis by Processing • Market Analysis by Application • Country-Level Breakdown: o GCC Countries o South Africa o Rest of Middle East & Africa Key Players and Competitive Analysis • Aspen Aerogels Inc. – Leading Provider of High-Performance Aerogels • Cabot Corporation – Innovations in Aerogel Technology for Industrial Applications • Armacell – Key Player in Aerogel Insulation Solutions • Nano Tech Co. Ltd. – Specializing in Advanced Aerogel Products • Guangdong Alison Hi-tech Co. Ltd. – Noted for Innovative Aerogel Materials • BASF SE – Strong Portfolio in Polymer and Composite Aerogels • Active Aerogels – Provider of Sustainable and Lightweight Aerogel Products • Enersens – Expertise in Thermal Insulation Using Aerogels • JIOS Aerogel Corporation – Focus on Specialty Aerogels for Industrial Applications • Svenska Aerogel Holding AB – Leading Supplier of Silica Aerogels Appendix • Abbreviations and Terminologies Used in the Report • References and Sources List of Tables • Market Size by Type, Form, Processing, Application, and Region (2024–2032) • Regional Market Breakdown by Type, Form, and Application (2024–2032) List of Figures • Market Dynamics: Drivers, Restraints, Opportunities, and Challenges • Regional Market Snapshot for Key Regions • Competitive Landscape and Market Share Analysis • Growth Strategies Adopted by Key Players • Market Share by Type, Form, and Application (2024 vs. 2032)