Aerogel Companies

In terms of value, the aerogel market is estimated to grow from USD 0.89 billion in 2024 to USD 1.63 billion by 2029, at a CAGR of 12.8%. Aerogel market have grown as the mounting technological innovations and advancemnts, rising superior thermal insulation of aerogels and growing energy efficiency regulations. These factors drive the aergoel market.

Aerogel Companies

The key players profiled in the report include Aspen Aerogels, Inc. (US), Cabot Corporation (US), Armacell International S.A. (Luxembourg), Nano Tech Co., Ltd. (China), Zhejiang UGOO Technology Co., Ltd. (China), Guangdong Alison Technology Co., Ltd. (China), Beerenberg AS (Norway), Aerogel Technologies, LLC (US), Enersens (France), IBIH Advanced Materials Co., Ltd. (China), aerogel-it GmbH (Germany), and among others. The aerogel market has witnessed insignificant growth in the past few years; mounting demand from energy industrial and transportation applications to drive the growth of this market. Market players are introducing new technologies, acquisitions, collaborations and features to acquire larger market shares.

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Aspen Aerogel, Inc. is one of the world’s prominent provider of inventive aerogels. It designs, develops, and manufactures high performance aerogels. The company operates in more than 50 countries around the world with its qualified distributors  and has strong presence in  European, North American, and Asia Pacific region. It is also developing the applications for their aerogel technology in high-potential marketssuch as battery materials market. Moreover, To expand its business, the company is improving its long-term financial position, expanding its existing and complementary product lines. In June 2023, Aspen Aerogels, Inc. opened new rapid prototyping facility in Marlborough, Massachusetts.

Cabot Corporation is a global specialty chemical company and manufacturers various materials and products including aerogels. The company has a strong global presence in more than 20 countries in Europe, North America, and Asia Pacific region. It offers a extensive range of products such as fumed metal oxides, engineered elastomer composites, reinforcing carbons, battery materials, inkjet colorants, masterbatches and conductive compounds, specialty carbons, and aerogel.  It has aerogel manufacturing plant situated in Frankfurt, Germany.  In May 2023, Cabot Corporation has introduced new ultra-thin thermal barriers ENTERA Products for Lithium-ION Batteries.

Market Ranking

The aerogel market is highly consolidated, with the top five major players accounting 65-70% of the total market share. Aspen Aerogels, Inc. innovates patented insulation materials for heat retention, utilizing graphene-based materials such as Cryogel and Pyrogel Purpose, making it one of the world leaders in the aerogel market. Cabot Corporation specializes in the manufacturing of high-performance insulation materials whose applications in the oil & gas and industrial sectors, leverages a global network to deliver advanced coatings. Armacell International expands its portfolio of offerings, which is also achieved through its selective acquisitions. The enterprise extends globally to manufacture foams engineered insulation solutions. Nanotech Co., Ltd. and Zhejiang UGOO Technology Co. Ltd. have the most advanced silica aerogel R&D capability in China. These companies has potential capacity of growth within the Asia-Pacific. The competitive landscape represents the degree of competition in the market and also let the companies draft their own strategic moves in response to the market trends. Furthermore, other companies including Guangdong Alison Hi-Tech Co., Ltd., Beerenberg AS, and Aerogel Technologies, LLC, are also adds up to the competitive backdrop of the aerogel market through product launches and partnerships with end-use industries.

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Aerogel Market by Type (Silica, Polymer, Carbon), Form (Blanket, Panel, Particle, and Monolith), Processing (As Manufactured, Composites), Application (Energy Industrial, Transportation, Architecture & Construction), and Region - Global Forecast to 2029