Aerogel Market Size to Reach $3.09 Billion by 2029 | Growth at 15.6% CAGR Forecast

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What is the Projected Market Size of the Aerogel Industry?
The size of the aerogel market has seen a rapid expansion in the past few years. It's projected to increase from $1.48 billion in 2024 to $1.73 billion in 2025, showing a compound annual growth rate (CAGR) of 17.2%. The significant growth in the historical period is due to progress in the aerospace industry, initiatives for energy efficiency, growing demand in the oil and gas industry, applications in medical and healthcare, and the expanded use in electronics and consumer goods.

What Will Be the Size of the Aerogel Market by 2029?
In the coming years, we anticipate a swift expansion in the size of the aerogel market, which is predicted to reach a value of $3.09 billion by 2029. This represents a compound annual growth rate (CAGR) of 15.6%. Factors contributing to this anticipated growth during the forecast period include the adoption by the oil and gas industry, advancements in materials science, applications in environmental remediation, medical and healthcare, as well as automotive lightweighting. During this period, we expect to see trends towards increased sustainability efforts, advancements in manufacturing technologies, utilization in energy storage systems, the rise of transparent aerogels, and innovations in healthcare.

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What Are the Key Drivers Accelerating Growth in the Aerogel Market?
The aerogel market is forecasted to expand in the forthcoming years, fueled by an increased demand in the construction industry. The construction sector, which encompasses the creation and maintenance of construction sites, infrastructure, and a wide array of physical structures, utilizes a series of processes including planning, design, financial management, and materialization. Aerogels come into play as they are employed as lightweight insulating materials in the construction sector, enhancing energy efficiency and architectural insulation due to their excellent thermal insulation properties and high porosity. For instance, the UK-based Office for National Statistics documented a robust growth in new construction work by £18.16 billion ($19.89 billion) in 2022, noting a climb of 16.8% for private new construction and 13.1% for public new construction. Hence, the escalating demand in the construction sector is fuelling the expansion of the aerogel market.

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How Is the Aerogel Market Segmented by Type, Application, and Region?
The aerogel market covered in this report is segmented -

1) By Type: Silica, Polymers, Carbon, Other Types
2) By Form: Blanket, Particle, Panel, Monolith
3) By End-Use: Oil And Gas, Building And Construction, Automotive, Aerospace And Marine, Performance Coatings, Other End-Users

Subsegments:
1) By Silica: Open-Cell Silica Aerogels, Closed-Cell Silica Aerogels
2) By Polymers: Polyimide Aerogels, Epoxy Aerogels
3) By Carbon: Carbon Aerogels, Graphene Aerogels
4) By Other Types: Metal Oxide Aerogels, Hybrid Aerogels

What Are the Key Trends Driving Growth in the Aerogel Market?
Key players in the aerogel market are focusing on the development of innovative products like aerogel particles, which can be utilized in thermal barriers for lithium-ion batteries. Aerogel particles are a unique type of material derived from gel, where the liquid component is swapped with gas, resulting in an exceptionally low-density and thermally non-conductive solid. The US company, Cabot Corporation, for instance, rolled out its ENTERA aerogel particle portfolio in May 2023. The company, renowned for manufacturing performance chemicals and specialty chemicals, introduced ENTERA aerogel particles as a thermal insulation additive that facilitates the production of ultra-thin heat barriers for electric vehicle (EV) lithium-ion batteries. Cabot's collection comprises three distinctive ENTERA aerogel materials that can be blended into various forms of thermal barriers, including blankets, cushions, sheets, films, foams, and coatings. The ENTERA aerogel particle portfolio by Cabot includes ENTERA EV5200 aerogel, ENTERA EV5400 aerogel, and ENTERA EV5800 aerogel in sizes from microns to millimeters. Cabot's ENTERA aerogel is notably up to 20 times lighter than conventional insulation additives used in thermal barriers and consists of over 90% air.

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Who Are the Leading Companies Driving Growth in the Aerogel Market?
Major companies operating in the aerogel market report are BASF SE, The Dow Chemical Company, Evonik Industries AG, Cabot Corporation, Alkegen, Armacell International S.A, Aspen Aerogels Inc., Nano High-Tech Co. Ltd., Aerosafe Global, Blueshift Materials Inc., Solarcore, Svenska Aerogel Holding AB, ENERSENS, Green Earth Aerogel Technologies, TAASI Corporation, Guangdong Alison Hi-Tech Co. Ltd., Aerogel Technologies LLC, Active Aerogels, Thermablok Aerogels Ltd., THERMULON LTD

Which Is the Leading Region in the Global Aerogel Market?
North America was the largest region in the aerogel market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aerogel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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