Aerogel Market Business Growth, Opportunities and Forecast, 2030
The global aerogel market was valued at USD 1.04 billion in 2022 and is expected to grow at a robust CAGR of 16.3% throughout the forecast period. Aerogels are gaining attention due to their superior properties, including thermal resistance, lightweight, low density, fire resistance, and excellent thermal insulation. These characteristics have made aerogels ideal for various applications across industries. They are available in several forms, such as blankets, particles, panels, and monoliths, offering flexibility for different uses.
Due to their versatility, aerogels can be molded into thin films or monoliths and employed in areas requiring thermal insulation, acoustic solutions, thin-film coatings, and vibration damping. They also replace structural foam in applications, especially in the automotive industry. As the automotive sector transitions from internal combustion engines (ICEs) to electric vehicles (EVs) and automated systems, aerogels play a pivotal role by addressing multiple performance factors simultaneously efficiency, comfort, safety, and performance making them an ideal raw material for modern vehicles.
The U.S. dominates the global aerogel market, driven by high awareness among manufacturers about the superior benefits of aerogels over traditional insulating materials. The market in the U.S. is supported by ongoing research and development (R&D) efforts, with government funding providing a further boost. The widespread presence of key industries aerospace, marine, automotive, construction, performance coatings, and oil & gas ontributes significantly to the high demand for aerogels in the region. With these industries actively adopting advanced materials like aerogels, the U.S. market continues to see high-volume usage across multiple sectors.
Gather more insights about the market drivers, restrains and growth of the Aerogel Market
Product Segmentation Insights:
Silica Aerogels
The silica segment accounted for more than 66% of the global revenue in 2022, making it the market leader. Silica aerogels have gained immense popularity due to their chemical stability, high porosity, low density, and exceptional heat insulation properties. These aerogels are nanostructured materials with a high specific surface area and low dielectric constant, making them suitable for insulation applications across a broad range of technological sectors.
The low thermal conductivity of silica aerogels makes them ideal for applications in industries like construction, oil & gas pipelines, and aerospace, where minimizing heat loss is critical. However, while silica aerogels excel in thermal management, they are brittle and lack mechanical strength, limiting their use in certain demanding applications.
Polymer Aerogels
The polymer aerogel segment is expected to witness the fastest growth over the forecast period due to its superior chemical and physical properties compared to silica aerogels. Polymer aerogels are gaining traction in defense, electronics, construction, vehicle interiors, and antenna applications.
When manufactured as monoliths, polymer aerogels offer mechanical robustness but sacrifice some of the unique benefits of silica aerogels, such as transparency and ultra-low thermal conductivity. The versatility of polymer aerogels makes them well-suited for electronic substrates and advanced construction materials, positioning them as a key growth area in the aerogel market.
Carbon Aerogels
The carbon aerogel segment is projected to grow at an impressive CAGR of 19.4% from 2022 to 2030, driven by its increasing use in energy storage applications. Carbon aerogels are known for their high mass-specific surface area, excellent electrical conductivity, and environmental compatibility, making them ideal for applications such as batteries, supercapacitors, and catalysis.
Additionally, carbon aerogels are used in distillation, sorbent technologies, and catalytic processes, thanks to their low chemical inertness. However, carbon aerogels face challenges such as brittleness and shrinkage during fabrication, which can hinder their performance. To overcome these issues, reinforced carbon aerogels are being developed by impregnating resorcinol-formaldehyde (RF) solutions into carbon fibers, followed by supercritical drying. This reinforcement improves the flexibility and durability of carbon aerogels, making them more suitable for advanced industrial applications.
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