01. Introduction and Characteristics of Aerogel 
Aerogel is a new type of material with a nano-porous structure, in which more than 80% is composed of air. This material is often romantically called "blue smoke" or "frozen smoke" due to its lightness like mist and its bluish color. Aerogel not only has an extremely low thermal conductivity, but also exhibits outstanding optical, thermal, acoustic and electrical properties, and has been widely used as a fireproof, insulating and soundproof material. 
Aerogel has achieved remarkable success in the aerospace field. Whether it is the "China Space Station" or the "Zhu Rong Mars Rover", it is always present. In the field of new energy vehicle batteries, aerogel plays an important role as a fire barrier. The application potential of this amazing material is attracting more and more attention from the capital market under the impetus of the "carbon neutrality" goal. 
Aerogel not only has excellent thermal insulation properties, but also performs well in many fields, such as beyond the field of insulation. Moreover, its long-lasting durability, non-toxic and corrosion-resistant characteristics, as well as its potential applications in adsorption materials and catalysts, make it of great significance in the fields of construction and transportation. 
02. Industry Prospects and Data Analysis 
In 2020, the global market size of aerogel was approximately 700 million US dollars. The industry predicts that this figure will soar to 3.74 billion US dollars by 2030, with an annual compound growth rate of 18.2% over the next 10 years. This trend indicates that the aerogel industry is facing unprecedented development opportunities. 
Currently, the petrochemical industry remains the primary application field for aerogels, and its usage ranks first among all industries. It is projected that by 2029, the consumption share of aerogels in the petrochemical industry will decline, dropping from 56% in 2019 to 41%. At the same time, the demand for aerogels in the construction industry will show a significant increase, with its share rising from 6% in 2019 to 18% in 2029, potentially becoming the main driving force for the consumption of aerogels. Additionally, the popularity of new energy vehicles will also trigger an increase in aerogel consumption in the transportation sector, with its share expected to rise from 3% in 2019 to 5% in 2029. 
03. Cost reduction and efficiency improvement as well as industrial upgrading 
In the production cost of aerogel, the cost of silicon sources accounts for nearly 40% of the total. The organic silicon sources are mainly imported, but with the advancement of domestic technology, it is expected that the dependence on imports will be reduced in the future, keeping the average unit price of functional silanes at a relatively low level, thereby significantly improving the cost situation. On the other hand, in the inorganic silicon sources, silicon tetrachloride mainly comes from the production of polysilicon. In recent years, the rapid development of the photovoltaic industry and the supply shortage have jointly pushed up the price of polysilicon, which will also help to reduce the cost of inorganic silicon sources used in aerogel. 
In recent years, China has made significant progress in the field of aerogel drying technology, successfully developing a new drying method that has significantly reduced manufacturing costs to only 1/20 of the existing common techniques. As this technology continues to mature and be widely adopted, aerogel is expected to enter the "affordable era", further promoting its industrialization process.