Aerogel materials have a wide range of applications due to their excellent thermal insulation performance, mainly in energy equipment, transportation, building materials, clothing and other fields. The potential scale is huge, and we estimate that the global market space is more than 10 billion US dollars.
It is in the growth stage of the life cycle as a whole, and many fields are booming. According to IDTechEX Research, since aerogel technology has only gradually improved in recent years, most application fields are still in the early and growth stages of aerogel promotion. Regional energy, building construction, clothing, daily chemicals, LNG pipelines and other fields are developing rapidly. At present, the relatively mature application fields are mainly oil and gas pipelines (excluding LNG pipelines), refining projects, industrial insulation, etc.

The construction and transportation sectors will see faster growth. In 2019, most of the downstream applications of aerogels were concentrated in oil and gas projects (56%) and industrial insulation (26%), accounting for 82% of the market, with construction accounting for 6% and transportation projects accounting for 3%. IDTechEX Research analyzed that the proportion of the construction sector will increase in 2024, and the application proportion is expected to double from the original, accounting for nearly 12%. By 2029, the proportion of construction will reach nearly 18%, and the transportation sector will also increase to 5%, while the proportion of traditional oil and gas will drop to 41%. Construction and emerging fields will become the main consumption drivers.