Aerogel Market Size Predicts Favorable Growth and forecast 2021-2030

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The global Aerogel market size is expected to be worth around US$ 4.52 billion by 2030, according to a new report by Vision Research Reports.

The global Aerogel market size was valued at US$ 850.9 million in 2020 and is anticipated to grow at a CAGR of 20.1% during forecast period 2021 to 2030.

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Aerogel Market (By Product: Silica, Polymers, Carbon, Others; By End-use: Oil & Gas, Building & Construction, Automotive, Aerospace & Marine, Performance Coatings, Other End-uses; By Form: Blanket, Particle, Panel, Monolith; By Technology: Supercritical Drying, Other Technologies) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Highlights Details
Market Size USD 4.52 billion by 2030
Growth Rate CAGR of 20.1% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Form, Technology, End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Cabot Corp.; BASF SE; Nano Technology Co., Ltd.; Dow, Inc.; Enersens

Growth Factors

 Growing product usage for insulation applications in various industries, such as automotive, aerospace & defense, building & construction, oil & gas, and other industries, is expected to drive the market. Aerogels provide innovative and eco-friendly solutions for light-diffusing and high-performance insulation in architectural daylighting applications. Cabot Corp. provides LUMIRA aerogel, water-repelling particles produced through a subcritical drying process that exhibits a broader scope of applications including subsea pipe insulation and daylighting. The rapid development of the aerogel for high-temperature insulation primarily in the oil & gas industry, due to low thermal conductivity is expected to drive the market over the forecast period.

Report Highlight

 The silica aerogel product segment led the aerogel market in 2020 accounting for a revenue share of more than 77%. This is attributed to the non-organic structures of these products, which are non-combustible and can bear heat up to 1,4000C. Thus, they exhibit excellent heat endurance and thermal insulation properties, which boosts their demand.

Polymer aerogel products are expected to witness the fastest CAGR of 30% during the forecast period on account of their superior chemical and physical properties as compared to their silica counterparts. Polymer aerogels have applications in various end-use industries including defense, electrical & electronics, building and construction, and several others.

The blanket form segment led the market in 2020 with a revenue share of more than 78%. The blanket structure turns the fragile aerogel into a flexible and durable material. These blankets are witnessing high penetration in building applications owing to water repellency and light diffusion properties.

The particle form segment is expected to witness a notable CAGR of 26.7% over the forecast years on account of their superior thermal and light diffusion properties. These particles have strong flowability, and therefore are easy to handle and transport. The granules are particularly used for daylighting and aerogel powder as performance additives.

The supercritical drying technology segment led the market and accounted for a revenue share of more than 84% in 2020. Supercritical drying of aerogels is considered the most important step during aerogel production since it preserves their three-dimensional pore structures. This leads to unique properties, such as low density and a large surface area of aerogels.

The oil & gas end-use segment led the market in 2020 with a revenue share of more than 74%. Construction, fabrication, operation of pipelines, and other systems require a versatile insulation material, such as aerogel, that exhibits high porosity, low-density, low dielectric constant, and excellent heat insulation properties.

North America dominated the global market in 2020 with a revenue share of more than 56% and is expected to expand further at a steady CAGR of 20.1% over the forecast period. This trend is attributed to the consolidated structure of the industry along with the high concentration of aerogel manufacturers located in the region, especially in the U.S.

Key Players

  • Cabot Corp.
  • BASF SE
  • Nano Technology Co., Ltd.
  • Dow, Inc.
  • Enersens

Market Segmentation

  • Product
    • Silica
    • Polymers
    • Carbon
    • Others
  • End-use
    • Oil & Gas
    • Building & Construction
    • Automotive, Aerospace & Marine
    • Performance Coatings
    • Other End-uses
  • Form
    • Blanket
    • Particle
    • Panel
    • Monolith
  • Technology
    • Supercritical Drying
    • Other Technologies
  • Regional
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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