Aerogel Market with Global Competitive Analysis, and New Business Developments

North America Is Dominating Aerogel Market 

The aerogel market is projected to touch USD 804.1 million in 2023, and it will touch USD 1,755.1 million, growing at a 11.8% compound annual growth rate, by 2030.

This lightweight material provides better thermal resistance and low density, which are wanted in a lot of workings. Moreover, aerogels are produced in bulk in several forms, like monoliths, blankets, particles, and panels. In the form of monoliths, they are used in vibration damping, thermal insulation and acoustic, thin-film coatings, and structural foam in automobiles.

In 2022, on the basis of product, the silica category dominated the market. Silica aerogel has become common throughout the globe due to its significant chemical properties and an extensive variety of present and imaginable applications in several spaces.

It is a nanostructured material with a huge accurate surface area, decreased dielectric constant, increased absorption capability, outstanding heat insulation, and low density. Cabot Corporation announced in January of 2022 that it had used its silica aerogel to restore the Mathildenhhe, a German artist colony that has been declared a UNESCO World Heritage site.

In recent years, the supercritical drying category held the larger share, as this production tech permits the protection of aerogel’s 3D pore structure. This imparts the material low density, high absorbency, and a huge surface area. 

Moreover, this procedure is vital for scaling up lab ventilation units to manufacturing scales. High-temp supercritical drying with organic diluters is also supportive in lessening shrinkage and providing the product with a density lower than that of CO2.

In 2022, the blanket form of aerogels led the market, because it provides thermal insulation in structures and is utilized in apparel due to its low powdering, low dusting, water repellence high breathability, and high light diffusion. These variants are also used in high volumes in the oil & gas, automotive, oil & gas, and marine industries, all of which continue to advance rapidly.

In 2022, the North American region had the largest revenue share in the aerogel market because of the rising need for this material from the aerospace, building & construction, oil & gas, and automotive industries. 

Furthermore, North America showed an enormous industry development potential credited to the emphasis on quality, application growth, and product modernization, driven by the increasing requirement for superior insulation and low thermal conductivity.

The U.S. is the greatest customer of this material in the North American continent mainly because of its huge oil & gas sector, severe guidelines for the decrease of releases from buildings and vehicles, and increasing government expenditure on eco-friendly tech and materials. Furthermore, the rising construction sector continues to boost the industry in the nation, as aerogel is progressively being utilized in walls and roofs to avoid extra heat gain and loss.