Global Aerogel Blanket Market Overview
Aerogel Blanket Market Size was estimated at 1.59 (USD Billion) in 2022. The Aerogel Blanket Industry is expected to grow from 1.73(USD Billion) in 2023 to 3.58 (USD Billion) by 2032. The Aerogel Blanket Market CAGR (growth rate) is expected to be around 8.43% during the forecast period (2024 - 2032).
Key Aerogel Blanket Market Trends Highlighted
The Aerogel Blanket Market is poised for significant growth in the coming years. Key market drivers include the increasing demand for energy-efficient building materials, the growing awareness of the benefits of aerogel insulation, and the rising demand for thermal comfort in industrial applications. Opportunities for exploration and capture lie in the development of new and innovative applications for aerogel blankets, such as in the aerospace and automotive industries, as well as the expansion into emerging markets. Recent trends in the Aerogel Blanket Market include the increasing demand for sustainable and environmentally friendly insulation materials and the advancements in manufacturing technologies that enable the production of high-performance aerogel blankets at a reduced cost.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Aerogel Blanket Market Drivers
Rising Demand for Insulation in Construction
Presently, aerogel blankets are rapidly gaining attention in the construction industry for their outstanding insulation ability. Aerogel blankets provide better thermal performance compared to other conventional insulators, and they are excellent at reducing energy expenses and enhancing building efficacy. Nowadays, increased awareness of energy conservation and building sustainability has impacted the expansion of aerogel blankets in residential and commercial buildings.By utilizing these innovative materials in constructing building envelops, architects and contractors can effectively meet and exceed energy codes and regulations, thus reducing the overall energy consumption and environmental footprint of residential and commercial buildings. Apart from outstanding energy-saving features, aerogel blankets are attractive materials in the construction industry because they are lightweight, pliable, and easy to install.The increased use of aerogel blankets in the construction industry is likely to remain the principal impetus for the expansion of the aerogel blanket market in the years ahead. Considering the persistent interest of the global construction market in energy performance and the relative newness of these materials, the aerogel blanket market is more likely to benefit from the construction segment.
Advancements in Aerogel Technology
Besides, the development of aerogel technology allows the continuous improvements in aerogel blankets which are another potent driver of the market. Researchers and manufacturers look for the new ways to enhance the properties and performance of the aerogel blankets. To this end, they have developed aerogels characterized by the higher porosity, lower thermal conductivity, and higher durability. The broader implementation of these innovative technologies allows the creation of the aerogel blankets capable of insulating the buildings more effectively and reducing the energy consumption.At the same time, the development of the novel aerogel composite materials expands the applicable range of aerogel blankets. Chemists and engineers can combine aerogels with other materials, such as polymers or fibers, and manufacture the blankets with tailored properties that can address specific needs of the industry. In the end, all these factors will drive the Aerogel Blanket Market by the advancements in aerogel technologies that will facilitate the creation of the highly efficient blankets of broad applicability.
Government Regulations and Incentives
Government regulations and incentives aimed at promoting energy efficiency and reducing carbon emissions are also driving the growth of the Aerogel Blanket Market Industry. In many countries, governments have implemented strict building codes and energy efficiency standards that require the use of high-performance insulation materials. This has created a favorable regulatory environment for aerogel blankets, as they can help builders meet these requirements and achieve energy-efficient buildings.Additionally, governments are offering financial incentives, such as tax credits and rebates, to encourage the adoption of energy-efficient technologies. These incentives make aerogel blankets more affordable for consumers, further stimulating market growth. The increasing focus on sustainability and energy conservation is likely to lead to even more supportive government policies in the future, providing a tailwind for the aerogel blanket market.
Aerogel Blanket Market Segment Insights:
Aerogel Blanket Market Type Insights
The Aerogel Blanket Market is segmented by Type into Aerogel Blankets, Aerogel Quilts, Aerogel Rolls, Aerogel Panels, and Aerogel Mats. Among these segments, Aerogel Blankets held the largest market share of 37.6% in 2023 and is expected to continue dominating the market during the forecast period from 2023 to 2032. The growth of this segment can be attributed to the increasing demand for lightweight and high-performance thermal insulation materials in various industries, including construction, aerospace, and transportation. Aerogel Quilts are projected to witness the fastest growth over the forecast period, owing to their superior thermal insulation properties and growing adoption in the automotive and aerospace industries.Aerogel Rolls are widely used in the packaging industry due to their excellent cushioning and insulating properties, contributing to the segment's significant market share. Aerogel Panels and Aerogel Mats are also gaining popularity in the construction industry for their energy-saving and soundproofing capabilities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Aerogel Blanket Market Application Insights
The Aerogel Blanket Market segmentation by Application has been done into Industrial Insulation, Passive Fire Protection, Cryogenic Storage, Oil and Gas Industry and Automotive. The Industrial Insulation segment is expected to lead the Aerogel Blanket Market with the market revenue of USD 0.93 billion by 2024. The industrial application requires high performance insulation material which is mainly achieved by using aerogel blanket. The high end use of the aerogel blanket in these applications drives the growth of this segment. The Passive Fire Protection segment is expected to grow at a CAGR of 9.1% over the forecast period.The fire safety regulations are expected to get stronger in the future which will enhance the use of better fire resistant materials. The high performance aerogel blanket is expected to have a high demand in this segment. The Cryogenic Storage segment is expected to be worth USD 0.31 billion by the end of 2024. Cryogenic storage is required in various industries such as health care and research and the growth of this segment boosts the growth of this segment. The Oil and Gas Industry segment will have a steady growth. The growing need for aerogel blankets for insulating and protecting while exploration and production of oil and gas drive this segment.The Automotive segment will grow at a moderate rate. The use of aerogel blankets is expected to grow with the increase in use for thermal insulation and sound proofing for the vehicle.
Aerogel Blanket Market Material Insights
Silica-based aerogels held the largest market share in 2023 and are projected to continue their dominance throughout the forecast period. This is attributed to their exceptional thermal insulation properties, high porosity, and low thermal conductivity. Carbon-based aerogels are expected to witness the fastest growth rate during the forecast period due to their superior mechanical strength, electrical conductivity, and thermal stability. Polymer-based aerogels are gaining traction in the market owing to their flexibility, lightweight, and ease of processing.Composite aerogels, which combine the properties of different types of aerogels, offer unique advantages and are expected to find increasing applications in various industries.
Aerogel Blanket Market End-User Industry Insights
The end-user industry segment plays a crucial role in shaping the Aerogel Blanket Market landscape. Among the key end-user industries, power generation, petrochemicals, pharmaceuticals, transportation, and construction stand out as prominent consumers of aerogel blankets. In the power generation industry, aerogel blankets are utilized for insulation purposes in turbines and other critical components, contributing to improved efficiency and reduced energy consumption. The petrochemicals sector leverages aerogel blankets for thermal insulation in pipelines and storage tanks, ensuring the safe and efficient handling of hazardous chemicals.The pharmaceutical industry employs aerogel blankets as packaging materials for highly sensitive drugs, maintaining their integrity during transportation and storage. In the transportation sector, aerogel blankets find application in insulating refrigerated vehicles and aircraft cargo compartments, preserving the quality of perishable goods and sensitive equipment. The construction industry utilizes aerogel blankets for insulation in buildings and structures, reducing heat loss and contributing to energy efficiency. The growing demand for sustainable and energy-efficient construction practices is anticipated to drive the adoption of aerogel blankets in this sector.Overall, the Aerogel Blanket Market is expected to exhibit significant growth in the coming years, driven by the increasing adoption of aerogel blankets across various end-user industries. The market is projected to reach a valuation of approximately USD 3.58 billion by 2032, expanding at a CAGR of 8.43% from 2023 to 2032.
Aerogel Blanket Market Regional Insights
North America dominated the Aerogel Blanket Market in 2023, accounting for 38.4% of the market revenue. The region's dominance can be attributed to the presence of major manufacturers, advancements in technology, and increasing demand from various industries, including aerospace, construction, and oil gas. Europe accounted for the second-largest share, driven by stringent energy efficiency regulations and growing awareness of energy conservation. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period due to rising construction activities, increasing disposable incomes, and government initiatives promoting energy efficiency.South America and MEA regions are anticipated to have a steady growth rate, driven by increasing industrialization and urbanization.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Aerogel Blanket Market Key Players And Competitive Insights:
Prominent competitors in Aerogel Blanket Market are emphasizing to develop and introduce new products with high-class performance and functionalities to the constantly changing demand of the customers. Furthermore, Leading players of the Aerogel Blanket Market are concentrating on strategic partnerships, collaborations, and acquisitions to maximize their footprints and to diversify their product portfolios. The Aerogel Blanket Market is anticipated to have a prosperousgrowth of market revenue over the decades due to rising demand for aerogel blankets across the end-use industries such as construction, aerospace, automotive, among others. Moreover, the growing demand for sustainable and environmental-friendly materials is developing the construction and the adoption of the aerogel blanket.
Aspen Aerogels is one of the dominant players in the Aerogel Blanket Market, which presents a comprehensive range of high-performance aerogel blankets. The products of the company are purpose-built to meet a broad range of pre-requisite applications with exceptional heat insulation, fire resistance, and acoustic absorption. Aspen Aerogels provides its products over 50 countries around the world with its sustained entity.Cabot Corporation is one of the major competitors in the Aerogel Blanket Market, which is a global leader in supplying specialty materials and chemicals. The aerogel blankets of the company are lightweight, flexible, and long-lasting. The products of Cabot Corporation are mainly used in the oil and gas industry for the insulation purpose within a wide range of temperatures. Thecompany is highly focused on sustainability, and it works to minimize the environmental impact of its products. Machining and shipping of aerogel blankets are environmentally safe, and these products exceed the highest standard of safety and performance.
Key Companies in the Aerogel Blanket Market Include:
Aerogel Blanket Market Industry Developments
The Aerogel Blanket Market is projected to grow from an estimated USD 1.73 billion in 2023 to USD 3.58 billion by 2032, exhibiting a CAGR of 8.43% during the forecast period. Rising demand for energy-efficient building materials, increasing awareness of thermal insulation, and growing adoption in various end-use industries are major factors driving market growth. Recent developments include the launch of new products with enhanced thermal conductivity and fire resistance, as well as strategic partnerships and acquisitions among key players. Government regulations promoting energy efficiency and sustainable construction practices are further expected to bolster market growth in the coming years.
Aerogel Blanket Market Segmentation Insights
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Aerogel Blanket Market Type Outlook
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Aerogel Blankets
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Aerogel Quilts
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Aerogel Rolls
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Aerogel Panels
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Aerogel Mats
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Aerogel Blanket Market Application Outlook
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Industrial Insulation
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Passive Fire Protection
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Cryogenic Storage
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Oil and Gas Industry
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Automotive
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Aerogel Blanket Market Material Outlook
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Silica-based Aerogel
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Carbon-based Aerogel
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Polymer-based Aerogel
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Composite Aerogel
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Aerogel Blanket Market End-User Industry Outlook
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Power Generation
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Petrochemicals
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Pharmaceuticals
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Transportation
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Construction
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Aerogel Blanket Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.59(USD Billion) |
| Market Size 2023 |
1.73(USD Billion) |
| Market Size 2032 |
3.58(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.43% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
SaintGobain ,Nanosil ,Shanghai Titan Science ,Nanogel ,CoolTech ,Natural Fiber Welding ,JIOS Aerogel ,Evonik Industries ,Cabot Aerogel ,Aspen Aerogels ,Shenzhen Bainaobao Insulation Materials ,Sinoma Insulation Material ,CNBM International |
| Segments Covered |
Type ,Application ,Material ,End-User Industry ,Regional |
| Key Market Opportunities |
Renewable energy advancements Cryogenic applications expansion Construction industry insulation demand Aerospace industry propulsion systems Healthcare thermal management |
| Key Market Dynamics |
Rising demand for energy efficiency stringent government regulations growth in the construction industry technological advancements expanding applications in aerospace and automotive |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Aerogel Blanket Market is expected to reach USD 1.73 billion in 2023 and is projected to grow at a CAGR of 8.43% from 2023 to 2032, reaching USD 3.58 billion by 2032.
The key regions in the Aerogel Blanket Market are North America, Europe, Asia-Pacific, and the Rest of the World. North America is the largest market, followed by Europe and Asia-Pacific.
Major applications of Aerogel Blankets include oil and gas, aerospace, construction, and automotive.
Key competitors in the Aerogel Blanket Market include Aspen Aerogels, Cabot Corporation, BASF SE, and Evonik Industries.
Key trends in the Aerogel Blanket Market include the increasing demand for energy efficiency, the growing use of aerogels in lightweight applications, and the development of new aerogel materials.
Challenges in the Aerogel Blanket Market include the high cost of production, the limited availability of raw materials, and the lack of awareness about the benefits of aerogel blankets.
Opportunities in the Aerogel Blanket Market include the growing demand for energy efficiency, the increasing use of aerogels in lightweight applications, and the development of new aerogel materials.
The Aerogel Blanket Market is expected to grow at a CAGR of 8.43% from 2023 to 2032, reaching USD 3.58 billion by 2032.
Key factors driving the growth of the Aerogel Blanket Market include the increasing demand for energy efficiency, the growing use of aerogels in lightweight applications, and the development of new aerogel materials.
Key challenges facing the Aerogel Blanket Market include the high cost of production, the limited availability of raw materials, and the lack of awareness about the benefits of aerogel blankets.
