Aerogel Market Set for Strong Growth at 16.3% CAGR Through 2031, Led by North America's 38% Global Market Share | DataM Intelligence

The Global Aerogel Market is expected to grow at a strong CAGR of 16.3% during the forecast period 2024-2031.

Market growth is driven by rising demand for high-performance thermal insulation materials across construction, oil & gas, and aerospace industries. Additionally, increasing focus on energy efficiency, lightweight materials, and advancements in aerogel manufacturing technologies are further accelerating market adoption.

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United States: Key Industry Developments
✅ October 2025: Aspen Aerogels expanded its U.S. manufacturing capacity with a new facility in Louisiana dedicated to producing silica aerogels for EV battery insulation, enhancing thermal management amid rising electric vehicle adoption.​

✅ September 2025: Cabot Corporation launched an advanced aerogel composite for oil and gas pipelines in the Gulf of Mexico, improving insulation efficiency and reducing energy loss in harsh marine environments.​

✅ August 2025: BASF introduced a next-generation carbon aerogel for aerospace applications at a major composites expo, targeting lightweight thermal barriers for next-gen aircraft.​

Asia Pacific / Japan: Key Industry Developments
✅ October 2025: Aspen Aerogels partnered with a leading Japanese EV manufacturer to supply specialized aerogel insulation blankets for high-performance batteries, boosting energy density and safety.​

✅ September 2025: No specific aerogel developments confirmed for this month; market growth continued driven by electronics sector demand for thermal management solutions.​

✅ August 2025: Cabot Corporation released a flexible aerogel blanket product line optimized for retrofitting energy-efficient buildings across Japan, aligning with national sustainability goals.​

Key Merges and Acquisitions(2025):
✅ Armacell - fully acquired JIOS's stake in Armacell JIOS Aerogels Limited in September 2024, gaining control of over 700 tonnes of annual aerogel powder capacity and enhancing its insulation offerings for energy sector applications like high-temperature pipelines.​

✅ Foli Aerogel - formed a strategic distribution partnership with Aerogel Technologies, LLC on August 07, 2025, to expand product offerings including a new adhesive tape in the aerogel insulation market.​

✅ Aerogel Technologies - partnered with Guangdong Alison Hi-Tech in September 2025 for multi-year supply agreements with APAC oil & gas operators, integrating aerogel into pipelines and refining assets.​

Market Segmentation Analysis:
-By Type: Silica Dominates with 72% Market Share
Silica aerogels lead with 72% share as of 2025, prized for superior thermal insulation, high surface area, and scalability in demanding applications.​
Carbon aerogels follow at around 12%, valued for electrical conductivity in energy storage and high-temperature uses.
Polymer aerogels hold about 10%, offering flexibility for lightweight composites, while others (like alumina) claim 6%, serving niche high-performance roles.​

-By Form: Blanket Leads with 61% Share
Blankets command 61.15% market share in 2025, favored for flexibility, easy installation, and energy-efficient insulation in pipelines and buildings.​
Powder or particle forms take roughly 20%, ideal for coatings and fillers due to high dispersibility.
Blocks and panels share the rest at 19%, used in rigid structural insulation for construction and aerospace.​

-By End-User: Oil & Gas Tops with 35% Share
Oil & gas holds 35% dominance, driven by pipeline insulation and offshore demands for extreme thermal performance.​
Building & construction follows at 25%, leveraging aerogels for energy-efficient walls and facades.
Automotive claims 15% for EV battery thermal management; aerospace & marine 10% for lightweight protection; chemicals and healthcare 10% combined for specialty uses; others 5%.

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Growth Drivers:
-Rising demand in construction and infrastructure for energy-efficient insulation materials that meet stringent building regulations.

-Expansion of aerospace and automotive sectors seeking low-density, high-performance components to enhance fuel efficiency and reduce weight.

-Increasing adoption in oil & gas for pipeline insulation and thermal management in extreme environments.

-Advancements in manufacturing processes that lower production costs and improve scalability for broader commercialization.

-Focus on sustainability, including bio-based aerogels and applications in renewable energy and electric vehicle batteries.​

Regional Insights:
-North America leads the aerogel market with the highest share, estimated at around 38% based on recent projections, driven by strong demand in oil & gas insulation, aerospace, and construction sectors, particularly in the U.S. where environmental regulations and energy efficiency initiatives boost adoption.​

-Europe follows as the second-largest region, capturing approximately 28% of the global market, fueled by stringent building energy codes, renewable energy projects, and automotive applications across countries like Germany and the UK.​

-Asia Pacific ranks third with about 23% market share, experiencing rapid growth due to expanding automotive production in China and India, alongside oil & gas infrastructure and urbanization in construction.​

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Key Players:
Aspen Aerogel Inc. | Cabot Corporation | American Aerogel Corporation | BASF SE | DowDuPont | Active Aerogels | Green Earth Aerogel Technologies | TAASI Corporation | Nano High-Tech Co. Ltd.

Key Highlights (Top 5 Key Players) for Aerogel Market:
-Aspen Aerogels Inc. reported $452.7 million in annual revenue for 2024, with trailing twelve months revenue reaching $397.18 million as of mid-2025, driven by strong growth in thermal barriers and energy industrial segments.​

-Cabot Corporation leads in silica aerogels, generating significant revenues from aerogel insulation products amid expanding demand in energy and construction applications.​

-BASF SE contributes through advanced polymer aerogels, supporting market growth with innovations in high-performance insulation for industrial uses.​

-DowDuPont (now Dow Inc.) leverages aerogel technologies in composites, bolstering revenues via sustainable materials for automotive and aerospace sectors.​

-Active Aerogels focuses on specialized aerogel solutions, achieving revenue gains from partnerships in oil & gas and building insulation markets.​

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