Today we are going to talk about a new generation of thermal insulation material - aerogel. Aerogel is the lightest solid known in the world. It is composed of 99% gas and 1% solid. It has a density only three times that of air and is light and powerful. The extraordinary properties of this material have even been favored by NASA, and it was once used in space suits as a thermal insulation material.
The continuous advancement of science and technology has also driven the continuous updating of aerogel production technology. At present, aerogel can be used in daily clothing, such as thermal clothing. However, the clothing field is only the tip of the iceberg of aerogel applications. Aerogel is more used in oil and gas pipelines, lithium batteries, building materials and other fields. However, the penetration rate of aerogel in various fields is low, and there is still a lot of room for improvement.

1. High-efficiency and energy-saving thermal insulation materials
Aerogel is known as the king of thermal insulation materials because its thermal conductivity is only a few tenths of that of air, and its thermal conductivity is extremely low. There are many types of aerogels, which can be divided into oxide aerogels, carbide aerogels, multi-component aerogels and other types according to the different precursor materials. At present, the most mature type is oxide aerogel, which is usually made of materials such as silicon dioxide, aluminum oxide, and titanium oxide. Among them, the commercial application of silica aerogel is the most mature, accounting for about 70%.
Silica aerogel is far superior to traditional thermal insulation materials in terms of thermal conductivity, quality, heat resistance and other properties. And it can achieve the same thermal insulation effect with a thickness of less than 1/3 of traditional thermal insulation materials. This undoubtedly shows that aerogel is the preferred choice for improving the quality and efficiency of thermal insulation materials, and at the same time provides strong support for energy conservation, emission reduction and space optimization.
It is estimated that the comprehensive application of aerogel is expected to reduce 40% to 50% of high-temperature heat energy transmission losses, and the energy saved accounts for 8% to 10% of the total industrial energy consumption, which contributes more than 5% to the reduction of national energy consumption. The application of aerogel in the construction field can also effectively weaken solar radiation, thereby significantly improving the thermal insulation effect of the building and facilitating the development of green buildings.

2. Lithium battery field shines brightly
The application range of aerogel is extremely wide, spanning multiple key industries such as petrochemical, construction, industrial insulation and transportation. Among the many downstream applications of aerogel, the application of oil and gas pipelines is particularly prominent, becoming the most important application field at present, with a consumption ratio of about 50%. At the same time, new energy vehicles and energy storage fields are regarded as the most promising fields for aerogel applications due to their huge development potential and innovation space.
The main application of aerogel in oil and gas pipelines is for insulation of high-temperature oil and gas pipelines, refining units, medium pipelines, etc., with a general temperature between 200°C and 650°C. Although oil and gas pipelines have become the largest application field of aerogel, the penetration rate of aerogel in the existing oil and gas pipeline market is less than 15%. Referring to the "14th Five-Year Plan" modern energy system plan and the data of the China Insulation and Energy-Saving Materials Association, it is estimated that my country's demand for aerogels will reach 518,000 cubic meters in 2025, corresponding to a market size of about 5.44 billion yuan.
In addition to playing a key role in oil and gas pipelines, aerogels also play a vital role in the field of lithium battery safety. The operating temperature of lithium batteries is usually between -20°C and 60°C. Overheating may lead to thermal runaway and cause serious accidents such as explosions, while low temperatures will affect the battery's endurance and service life. Therefore, thermal management of lithium batteries has become a top priority. Aerogel, as a Class A non-flammable fireproof material, has become the first choice for lithium battery insulation materials due to its excellent thermal insulation performance.
In the application of lithium batteries, aerogel can play a positive role in many aspects. On the one hand, it can be used between battery cells and between battery modules and PACK covers to effectively prevent the diffusion of heat, thereby avoiding excessive battery temperature; on the other hand, in low temperature environments, aerogel can reduce heat loss in battery packs and maintain battery performance. The dual role of this material not only improves the safety of lithium batteries, but also extends their service life, providing strong support for the development of new energy vehicles and energy storage technologies.
Since 2020, aerogel insulation sheets have gradually been widely used in the field of power batteries, and leading battery manufacturers such as CATL (300750) and Guoxuan High-tech (002074) have begun to use them.

3. Enterprise layout and expansion
At present, the competition pattern of the aerogel industry shows obvious decentralized characteristics, and its market map is mainly distributed in key regions such as North America, Europe and Asia. The industry generally believes that it is currently in the fourth wave of development of the aerogel industry led by Chinese enterprises.
Since 2010, aerogel production enterprises have appeared in my country, successfully opening up the application of aerogel in industrial pipelines, lithium batteries, transportation and other fields. With the continuous maturity of aerogel commercialization, the layout scope of Chinese enterprises has gradually expanded. From upstream raw materials to midstream product manufacturing, and then to downstream application digestion, the layout of the entire industrial chain has gradually been realized.
In recent years, many companies have also continuously expanded their aerogel production capacity. However, judging from the current sales situation, aerogel is not enough to support the company's main business, but in recent years, it has achieved relatively stable performance growth, and the gross profit margin also shows the company's technological progress. The product sales structure of Pan Asia Microporous (688386) also confirms this.
However, according to current data analysis, the aerogel market size is not yet 10 billion. This also indicates a ceiling that is within reach, creating an invisible obstacle to the capacity expansion of enterprises.