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Silicon Dioxide Aerogel Market: By Type, By Application, and Geography
Silicon Dioxide Aerogel Market: By Type, By Application, and Geography
Silicon Dioxide Aerogel Market size was valued at US$ 860.9 million in 2023 and is expected to grow at a CAGR of 12.6 % from 2024 to 2030. The market growth is owing to the rise in demand for silicon dioxide aerogel from various industry verticals such as construction, oil & gas, aerospace, automotive, and others, and also the growing demand for battery management systems in electric vehicles which fuels the growth of the market. Despite the growth of the market, the challenges hindering the growth of the market are high production costs and the availability of natural alternative materials & cheap cost materials from the competitors. Due to its transparent and opaque-based insulation silicon dioxide aerogel is attracting the cosmetics industry and other application areas which creates the research and development of new products, It is also used in oil spills and organic liquid for clean-up. North America is the most dominating region due to its well-established construction industry with a high demand for energy-efficient materials, The combination of a growing construction industry, a significant demand from the oil and gas sector, and government initiatives promoting energy efficiency and sustainability are expected to fuel the growth of the APAC silica aerogel market at a higher rate than other regions in the coming years.
Study Period
2024-2030Base Year
2023CAGR
12.6%Largest Market
North-AmericaFastest Growing Market
North-America
The rise of the building and construction and oil and gas industries is a major driver for the silica aerogel market. In the oil and gas industry, aerogel's chemical inertness and low heat conductivity make it ideal for insulating and protecting pipes. Similarly, in construction, silica aerogel blankets are increasingly used for insulating building walls and roofs. Silica aerogel's key advantage is its superior performance compared to traditional insulation materials. It is significantly lighter, offering more resistance with a much thinner layer. This low density and low heat conductivity make it the preferred choice for thermal protection. These qualities also make it suitable for firefighter equipment and protective clothing. Beyond construction and oil and gas, the market is driven by the automotive and aerospace industries. Silica aerogel's large surface area and small pores make it a great adsorbent, useful in wastewater treatment. Additionally, its ability to trap particles and its low thermal conductivity makes it valuable for space exploration, as demonstrated by NASA's use of aerogel in the Stardust spacecraft and Mars Rover.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2023, North America accounted for 40.5% and dominates the market and is valued at US 349.1 million and is projected to grow at 12.1% CAGR over 2023 – 2030, due to increasing demand for insulation, technological advancements, growth in end-use industries, and government initiatives promoting energy efficiency and reducing carbon emissions. Asia-pacific is the fastest growing region in the market, at present it's valued at 250.7 million US dollars, accounts for a significant share of the global silicon dioxide aerogel market due to an increase in residential & commercial growth in developing countries and is projected to grow at a 13.8% CAGR over 2023 - 2030. Europe growing moderately due to increasing demand for insulation in the construction and industrial sectors, as well as the rising focus on energy efficiency and sustainability in the region, and is projected to grow at a 12.0% CAGR over 2023 – 2030. Latin America & MEA have the lowest share in the Silicon Dioxide Aerogel Market
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 860.9 million |
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Market CAGR |
12.6% |
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By Type |
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By Application |
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By Region |
North America
Europe
The Asia Pacific
Latin America
MEA
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The silicon dioxide aerogel market size was valued at US$ 860.9 million in 2023 and is expected to grow at a CAGR of 12.6 % from 2024 to 2030.
JIOS Aerogel, Dow Chemical, Aspen Aerogel, Cabot Corporation, Aerogel Technologies, Armacell Active Aerogels, Enersens, Svenska Arogel
North-America is the dominant market in the silicon dioxide aerogel market.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.