PUBLISHER: IMARC | PRODUCT CODE: 1347445
PUBLISHER: IMARC | PRODUCT CODE: 1347445
The global aerogel market size reached US$ 860.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,533.7 Million by 2028, exhibiting a growth rate (CAGR) of 10.29% during 2023-2028.
Also known as frozen smoke, aerogel is a translucent, synthetic solid-state substance that has an extremely low density and excellent thermal insulating properties. It is mainly produced by replacing the liquid element of the gel with gas in a high-temperature environment. It is light in weight and has a high surface area, owing to which it is widely utilized in various industrial and commercial applications across the globe.
The market is currently experiencing strong growth on account of the expanding applications of aerogel in numerous end use industries. For instance, it is employed in the aerospace industry in the manufacturing of wetsuits and spacesuits. It is also used in the construction sector as a superlight concrete and wall insulator. Besides this, aerogel serves as a crucial component in the manufacturing of fire suits, spacecraft and vehicles due to its superior thermal insulation property. Additionally, owing to its several other advantageous properties, it is gaining popularity in the electronics, and oil and gas industries worldwide. Furthermore, some of the leading vendors operating in the industry are focusing on increasing their budget for research and development (R&D) activities to introduce polymer-based aerogels that have enhanced strength and flexibility. Such steps are expected to be instrumental in expanding their existing consumer base and market share, thus contributing to the market growth. These factors collectively are projected to fuel the market growth in the upcoming years.
IMARC Group provides an analysis of the key trends in each segment of the global aerogel market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on processing, type, form and application.
Virgin
Composites
Additives
Silica
Polymer
Carbon
Others
Silica aerogel exhibits a clear dominance in the market.
Blanket
Particle
Panel
Monolith
At present, blanket accounts for the majority of the total market share.
Oil and Gas
Construction
Transportation
Electronics
Others
Aerogel finds vast applications in the oil and gas industry.
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
On the geographical front, North America enjoys the leading position in the market.
Aspen Aerogels, Inc.
BASF SE
Cabot Corporation
The Dow Chemical Company
JIOS Aerogel Corporation
Svenska Aerogel Holding AB
Enersens SAS
Active Aerogels
Nano Tech Co., Ltd.
Guangdong Alison Hi-Tech Co., Ltd.
Intelligent Insulation Ltd.
Surnano Aerogel Co. Ltd.
TAASI Corporation
Protective Polymers Ltd.
Green Earth Aerogel Technology SL