Polymer Aerogel Market Size (2024 – 2030)

The Polymer Aerogel Market was valued at USD 966.43 million and is projected to reach a market size of USD 1603.35 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 7.5%.

The past scenario of the polymer aerogel market shows that it was widely used for insulation in electronics and increasingly in spacecraft. However, increased research and development in recent years realized its excellent properties such as versatility, lightweight structure, compact size, energy efficiency, temperature and heat resistance, moisture retention, and others, which increased its applications to other sectors such as renewable technologies, aerospace, healthcare, and others. Moreover, the future for polymer aerogels holds positive with increasing trends in environmental awareness and sustainable technologies. Moreover, this has led to the development of biodegradable polymer aerogels that are prepared using natural sources such as cellulose.

Key Market Insights:

As per Pennsylvania State University, aerogel is very light and low in density, as it is 50-99.5% air and can hold 500 to 4000 times its weight, making it an ideal choice to be used as an insulating and structural material in space crafts.

As per research published in Science Direct, aerogel glazing in buildings can reduce heat by 57% and save 8.5% of cooling energy.

As per NASA Spinoff's report, the aerogel insulation Glenn developed for heat shields in spacecraft can withstand high temperatures of 1100 degrees Fahrenheit for over 90 seconds.

Polymer Aerogel Market Drivers:

Increased demand for lightweight electronics has boosted the demand for polymer aerogel in the market.

Consumers are increasingly demanding lightweight electronics such as smartphones and laptops, as it provides them convenience in carrying and easy storage. Moreover, polymer aerogel, being lightweight and compact in structure is increasingly used in smartphones, laptops, and wearable devices. Additionally, its miniature size makes it suitable to deploy in the electrical components of smartphones such as nano processors and microchips. Moreover, polymer aerogel helps in conserving batteries due to the increased energy efficiency they provide. Furthermore, they help maintain the physical integrity of the electronic device and enhance its durability, leading to a reduction in electronic waste.

Rising demand for polymer aerogels from the healthcare and pharmaceutical industry has boosted the demand for polymer aerogel in the market.

Polymer aerogel being highly porous, is widely used in the drug delivery system in the pharmaceutical industry, as it enables controlled drug release into the body. Moreover, its excellent absorption and moisture retention features help in healing wounds and therefore are widely used in wound dressings. Further, the versatility of polymer aerogel with biological fluids increases their applications in diagnostic devices such as point-of-care devices, which require faster and more accurate examination of the disease. In addition, polymer aerogels being temperature resistant protect medicines from outside atmospheric conditions such as moisture. Hence, they are used to encapsulate compounds in medicine.

Polymer Aerogel Market Restraints and Challenges:

Expensive costs can decrease the demand for polymer aerogel in the market. Polymer aerogel requires time and cost for sourcing materials and processing these materials, which can increase the production cost and ultimately its price in the market.

Biopolymer aerogels can witness a decline in demand due to their less effectiveness and sensitivity to harsh environmental conditions, as these aerogels are made using natural polymers.

Polymer Aerogel Market Opportunities:

The Polymer Aerogel Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches, and agreements during the forecasted period. Furthermore, increasing demand for versatile and lightweight materials is predicted to develop the market for polymer aerogel and enhance its future growth opportunities.

POLYMER AEROGEL MARKET REPORT COVERAGE:

Polymer Aerogel Market Segmentation: By Product

• Blanket

• Particle

• Panel

• Monolith

In 2022, based on market segmentation by product, blanket aerogels occupied the highest share of about 33% in the market. Blanket aerogels are flexible sheets that are widely used for insulation purposes in the aerospace and industrial sectors. Moreover, they are also used in insulating walls, floors, and ceilings in the construction sector, as they are highly conformable and flexible to various surfaces.

Particle segment is the fastest-growing segment during the forecast period. The growth of this segment is attributed to the rising demand for lightweight, compact, and efficient insulating materials in buildings, electronics, and others. Moreover, due to their excellent heat transfer capabilities and lightweight structure, they are used in cold weather clothing, camping clothes, and others.

Polymer Aerogel Market Segmentation: By Type of Polymer

• Silica-Based

• Non-Silica Based

In 2022, based on market segmentation by type of polymer, the silica-based segment occupied the highest share of about 38% in the market. Silica-based polymer aerogels are equipped with excellent temperature resistance and thermal insulation properties, which makes them an ideal choice for industries such as construction for light and window panels, electrical components, aerospace for insulating aircraft walls, reducing the weight of the aircraft, as silica aerogels are light-weight materials.

Non-silica-based aerogels are the fastest-growing segment during the forecast period. These particularly include biobased aerogels and organic aerogels that are made using natural polymers such as cellulose, polyurethane, polyimide, and others that are increasingly used in the pharmaceutical industry for drug delivery systems, for healing tissues and wounds, in water purification plants, and electronics such as in LED devices.

Polymer Aerogel Market Segmentation: By Density

• Low Density

• Medium Density

• High Density

In 2022, based on market segmentation by density high density segment occupied the highest share of about 24% in the market. High-density polymer aerogel is typically used for high mechanical strength and load-balancing capabilities, especially in the automotive and aerospace industries, where managing the weight and structure is essential.

Moreover, low density is the fastest-growing segment during the forecast period. Polymer aerogels with low density are typically light in weight and typically used in reducing the weight of spacecraft, aircraft, and other bulky structures. Additionally, it is also used in soundproofing materials, as they possess good sound insulation properties.

Polymer Aerogel Market Segmentation: By Industry

• Construction

• Oil & Gas

• Aerospace

• Healthcare

• Textiles & Manufacturing

• Electronics

• Others

In 2022, based on market segmentation by industry, the construction segment occupied the highest share of about 24.5% in the market. Due to their excellent temperature and heat-resistant properties, they are widely used in the construction industry as insulation material and for daylighting purposes. Moreover, polymer aerogels offer thermal insulation to building components such as walls, roofs, floors, and other structures. In addition, due to their lightweight structure, they are utilized in retrofitting buildings, where there is space constraint. Further, polymer aerogels due to their transparent structure are used to illuminate indoor spaces. These include the use of polymer aerogels in windows and architectural glass, as they possess light transmission and thermal insulation properties. A most common application is seen in commercial glass buildings, which require exposure to daylight and enhanced visual appeal.

Electronics is the fastest-growing segment during the forecast period. Polymer aerogels are widely used in electronics due to their thermal insulation properties. They are used in smartphones, laptops, EVs, and other electronics to provide insulation to electrical components that are heat-sensitive. Moreover, the compact and lightweight structure of polymer aerogels makes them a suitable choice to use in microchips, microprocessors, and nanomaterials in laptops, smartphones, and other devices, which require efficient thermal management without adding much weight to the device.

Polymer Aerogel Market Segmentation: Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle-East & Africa

In 2022, based on market segmentation by region, North America occupied the highest share of about 43% in the market. The increase in demand for thermal insulation materials in the aerospace industry and increased usage of polymer aerogels for thermal insulation and cryogenic applications in the space industry have contributed to the demand for polymer aerogels in the region.

Asia-Pacific is witnessing faster growth during the forecast period. The rise in infrastructure and construction projects and the fast-booming consumer electronics industry in countries such as China and India have contributed to the demand for polymer aerogels in the region.

COVID-19 Impact Analysis on the Polymer Aerogel Market

The pandemic had a significant impact on the polymer aerogel market. The market for polymer aerogel witnessed an increase in demand due to the rising usage of smartphones and laptops during the pandemic as a result of remote work culture, and also from the healthcare sector for applications in dressings, medicines, and insulating medical devices. However, its demand was not met with the supply, due to supply chain disruptions in the market, which delayed the distribution process and ultimately affected the polymer aerogel market

Latest Developments:

The development of the polymer aerogel market is attributed to increased demand for environment-friendly and lightweight materials, especially in the construction and automotive industries. This has also led to the development of bio and organic polymer aerogels that are made using natural and environment-friendly materials that help reduce the environmental impact of chemicals during the production process.

Key Players:

1. Cabot Corporation

2. BASF

3. Aerogel Technologies LLC

4. Aspen Aerogel

5. Nano-High Tech

6. Enersens

7. JIOS Aerogel

8. Taasi Corporation

9. Blueshit Materials Inc

• In September 2023, JIOS Aerogel received investment from MegaChem, which is a Southeast Asian company. The investment will support JIOS Aerogel’s aerogel production facility in the Southeast Asia Market and aims to cater to the increasing demand for its unique technology in EV batteries in Singapore.

• In May 2023, Cabot Corporation launched aerogel particles – ENTERA. The product is designed to overcome the thermal barriers in lithium-ion batteries in electric vehicles. The product provides thermal insulation for the development of ultra-thin barriers in EV batteries. Moreover, there are ENTERA aerogel products offered by the company.