(PharmaNewsWire.Com, January 30, 2025 ) The report "Aerogel Market by Type (Silica, Polymer, Carbon), Form (Blanket, Panel, Particle, and Monolith), Processing (As Manufactured, Composites), Application (Energy Industrial, Transportation, Architecture & Construction), and Region - Global Forecast to 2029”. The Aerogel Market size was USD 0.9 billion in 2024 and is projected to reach USD 1.6 billion by 2029, at a CAGR of 12.8%, between 2024 and 2029.
Based on type, the aerogel market is segmented as silica, polymer, carbon, and others. From them, silica accounted for largest market share, in terms of value, in 2023. Because of its exceptional thermal insulation properties, lightweight nature, resistance to high temperatures, porous structure, and chemical inertness. These abilities make them highly effective in applications ranging from oil & gas, power generation, and transportation to environmental remediation. Therefore, silica based aerogels accounted for largest share in aerogel market.
Based on form, the aerogel market is segmented into blanket, panel, powder, and monolith. Panel segment accounted for the second-largest share in aerogel market, in terms of value, in 2023. Because of its workability and adaptability in various applications. They offer ease of integration and installation into existing structures and makes them popular in construction for thermal insulation and energy efficiency upgrades. Furthermore, aerogel panels are favored in various industrial applications for their superior thermal and moisture-resistant properties which contributes to their significant presence in the aerogel market.
Based on application, the aerogel market is segmented into 4 key sub-segments as energy industrial, transportation, architecture & construction, and others. The transportation sub-segment is accounted for the second largest share in terms of value, in 2023. This is mainly due to the rising applications of aerogels in automotive, EV batteries, aerospace, and railways around the world as the worlds innovations in these sectors are rising rapidly. Therefore, transportation films sub-segment is accounted for the second largest share.
Based on region, North America is the largest aerogels market, in terms of value, in 2023 due to the due to its robust economic growth, high demand for advanced insulation in construction, and presence of major oil & gas industries. Aerospace and defense sectors in this region favor aerogels for their lightweight and thermal properties. Thus, the demand for aerogels is high in North America region. Likewise, the North America is projected to be the fastest growing market, in terms of value, during the forecast period 2024 to 2029.
Aerogel Market Key Players Key players operating in the Aspen Aerogels, Inc. (US), Cabot Corporation (US), Armacell International S.A. (Luxembourg), Nano Tech Co., Ltd. (China), Zhejiang UGOO Technology Co., Ltd. (China), Guangdong Alison Technology Co., Ltd. (China), Beerenberg AS (Norway), Aerogel Technologies, LLC (US), Enersens (France), IBIH Advanced Materials Co., Ltd. (China), aerogel-it GmbH (Germany), and among others. These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, Asia Pacific, and the Middle East & Africa. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies.
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