Aerogel Blanket for EV Market Size, Share, Growth, and Industry Analysis, By Type (3mm, 2mm & Other), By Application (Passenger Car, Commercial Vehicle), and Regional Forecast to 2033

AEROGEL BLANKET FOR EV MARKET OVERVIEW

The global Aerogel Blanket for EV Market size was USD 166.7 million in 2024 and is projected to touch USD 386.03 million by 2033, exhibiting a CAGR of 32.3% during the forecast period.

Aerogel blankets are high performance thermal insulative materials based on highly porous silica-like aerogels with ultra-low thermal conductivity and lightweight properties. These blankets are very widely applied to electric vehicle (EV) battery systems, thermal management, and safety applications from overheating, as well as enhancing energy efficiency. They are also used in EV powertrains and EV interiors for heat insulation and suppression of noise. Featuring excellent fire resistance, flexibility, and brittleness, aerogel blankets are the key element in safety improvement, battery lifetime, and EV performance on harsh environments.

The aerogel blanket market for EVs is growing due to the rapid adoption of electric vehicles driven by environmental regulations and the push for carbon neutrality. The growing demand for lightweight, high-performance thermal insulation materials for EV batteries and powertrains has significantly increased the need for lightweight thermal management materials. Market demand is also pushed by improvements in safety, technological advances in battery, and global EV deployment. The performance of aerogel blankets in enhancing battery power and vehicle range has made them critical in this emerging market.

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GLOBAL CRISES IMPACTING AEROGEL BLANKET FOR EV MARKET - COVID-19 IMPACT

"COVID-19 Disruptions and Post-Pandemic Recovery Drive Growth of Aerogel Blankets in EVs"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic caused havoc in the EV aerogel blanket market due to disruptions in the supply chain, production stoppages, and low demand of EVs in the early stage. However, post-pandemic recovery saw a resurgence driven by government incentives for electric mobility and investments in green technologies. The trend towards sustainable solutions facilitated EV adoption and fuelled demand for thermal insulation materials such as aerogel blankets. With greater focus on energy usage and battery system safety, the market boom and growth moved towards the long term and the market bounced back.

RUSSIA-UKRAINE WAR IMPACT

"Energy Price Volatility Drive Demand for Aerogel Blankets in EVs"

The Russia-Ukraine war has thrown the aerogel blanket market for EVs into chaos due to the stress the situation placed on supply chains as well as the cost of raw materials. Energy price uncertainty drove the attention to energy saving solutions, and consequently the uptake of EVs and demand for the modern insulation solutions. Nevertheless, geopolitical struggles disrupted production and export‐import operations, postponing operations in areas impacted. However, due to these challenges, the pursuit of energy independence and investment in sustainable mobility boosted the innovation and market expansion of aerogel blankets in the area of electric vehicles.

ISRAEL-HAMAS WAR IMPACT

"Geopolitical Tensions and Energy Security Influence Demand for Aerogel Blankets in EVs"

The force that the Israel-Hamas war has on the aerogel blanket market for EVs is mainly indirect but also substantial constraint, as it affects global supply chains as well as energy markets. Heightened geopolitical tensions disrupted trade routes and raised transportation costs, affecting material availability. Regional insecurity also shifted resource allocation priorities and may have delayed EV project rollouts in some markets. Nonetheless, concerns over energy security and energy source diversification have made the transition from the combustion engine to electric mobility even more widespread and thus continued the demand from aerogel blankets.

LATEST TREND

"Development of Hybrid Aerogel Materials and Sustainable Production Drives Innovation in EV Battery Systems"

A promising trend in the aerogels blanket market for EV applications is the design of hybrid aerogel materials composed of silica and polymers or composites. These technologies promote workability, mechanical robustness, and thermal capabilities, and are thus well suited for next generation EV battery systems. Furthermore, manufacturers are targeting environmentally friendly production procedures to mitigate the environmental effect of aerogels. With the design of EV eventually requiring lighter and more efficient components, these high performance aerogel blankets are increasingly being part of the evolution in battery energy efficiency, safety and vehicle range.

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AEROGEL BLANKET FOR EV MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into 3mm, 2mm & Other.

• 3mm Segment: 3mm aerogel blanket segment is widely adopted in EVs to provide excellent thermal insulation and durability. Its thickness provides excellent heat resistance, suitable for demanding applications such as battery packs and powertrains. This part addresses harsh conditions, by combining insulation performance with a lightweight design, hence achieving energy efficiency and vehicle safety.

• 2mm Segment: The 2mm aerogel blanket segment is intended to be used in an application demanding of a thinner insulation without a compromise in thermal efficiency. It is suited for compact EV designs, offering space optimization while maintaining heat management capabilities. Its lightweight and flexible nature makes it popular for interiors and battery systems, addressing the growing need for streamlined vehicle designs.

• Other Segment: The """"Other"""" category consists of aerogel blankets of different thicknesses, all designed for specific applications. These cater to niche requirements, such as extreme thermal management or custom EV configurations. This subsection illustrates the market's ability to meet the needs of a variety of insulation conditions, thus maintaining alignment with the development of new EV technologies as well as niche applications in the electric mobility market.

By Application

Based on application, the global market can be categorized into Passenger Car, Commercial Vehicle.

• Passenger Car Segment: Aerogel blankets in passenger cars improve the battery efficiency as well as thermal management. Their lightweight design supports energy savings, safety, and improved range, addressing the increasing adoption of electric passenger vehicles.

• Commercial Vehicle Segment: Aerogel blankets are used for the durable thermal insulation of the large-scale battery systems in commercial vehicles. They are conducive to long-duration, safety, and reliability, which is essential for heavy duty electric vehicles and fleets.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Increasing Focus on Thermal Management Drives Demand for Efficient Insulation Solutions"

A major factor that propelled the aerogel blanket for EV market growth is to reduce thermal loads in electric vehicles. Effective insulation is important for following up the battery overheating, safety processing and improving the energy efficiency. Aerogel blankets, thanks to their ultralight and outstanding thermal characteristics, can provide these requirements adequately. The increasing need for longer battery life and higher payload, while also being regulated to a greater extent, further drives their adoption, hence they are an essential part of the developing EV ecology.

"Increased EV Production and Government Incentives Boost the Market for Aerogel Blankets"

Other key factors include the increasing use of electric vehicles (EVs), fostered by regulatory measures and an environmental sustainability policy. As global greenhouse gasses reduction efforts increase, EV adoption is also growing rapidly, which leads to a keen demand for energy-saving materials such as aerogel blankets. These blankets further increase the battery efficacy, extend the range and guarantee the thermal stability, and, thus, they are mandatory in order to fulfill the performance and safety requirements of EV. The market for aerogel blankets is further promoted by the growth of the number of productions of EVs and the government subsidies.

Restraining Factor

"High Cost of Raw Materials and Production Hinders Aerogel Blanket Adoption in EVs"

Among other reasons, a significant constraining factor is that raw material and production cost of aerogel blankets is relatively very high. The manufacturing of aerogels is complex and therefore expensive compared with standard insulation materials. This can limit adoption, particularly in price-sensitive EV segments. Further, supply chain interruptions such as in the face of geopolitical instability or economic recession place additional cost burdens on the entire market opportunity, and reduce overall market growth and market demand.

Opportunity

"Growing Investment in Sustainable Technologies Fuels Opportunities for Aerogel Blankets in EVs and Beyond"

There seems to be an emerging opportunity in sustainable and energy-efficient technologies investments. As governments and automakers prioritize carbon reduction and improve EV performance, the demand for advanced thermal management solutions like aerogel blankets is expected to rise. However, novel material development, especially cost-effective manufacturing techniques, opens up new possibilities that, beyond the realm of EVs, can be applied to other energy storage applications, industries, and pushing the market onto a new growth curve.

Challenge

"High Manufacturing Costs and Limited Scalability Hinder Aerogel Blanket Adoption in Cost-Sensitive Markets"

One of the main challenges is the high manufacturing cost and poor production scalability of aerogel blankets. Due to the complex production process, there is increased cost, which in turn can discourage its general use e.g., in cost conscious markets. Further, competition from lower cost substitute materials such as traditional insulation materials leads to price competition. Lack of understanding and technical expertise of aerogel blanket systems also limits their wider acceptance and so creates a barrier to market expansion and widespread implementation in the EV infrastructure.

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AEROGEL BLANKET FOR EV MARKET REGIONAL INSIGHTS

North America

In North America, aerogel blankets are in high demand because of the concern for sustainability and stringent emission requirements of North American mobility. The United States leads the market due to its robust EV adoption, supported by government incentives and investments in advanced vehicle technologies. Growing awareness of energy efficiency and thermal management of EV batteries beyond just battery development, and extending the reach of aerogel blankets, serves to enhance growth, making North America one of the most important areas to deploy aerogel blankets.

Europe

Within Europe, the increase in the call to lower carbon emissions and the use of sustainable transportation fuel drives the market for aerogel blankets. Strict legislation and zero-emission vehicle (ZEV) targets de-rate (and therefore lead to) investments in high-end thermal management technologies for EVs. Gaining momentum, nations such as Germany and the UK lead the way in the development of battery efficient technologies and energy-saving technologies. The commitment of the area to sustainability is helping to build a promising market for aerogel blankets in enhancing EV performance.

Asia

In Asia, the explosive growth of the aerogel blanket for EV market share is the main force behind aerogel blankets. Countries such as China, Japan and India are at the forefront of sustainable mobility, driven by government subsidies and rising investment in EV infrastructure. Due to a large population and growing energy-hungry solutions, Asia holds promising chances for aerogel blankets to enhance battery performance and thermal management. This overall focus on energy efficiency and environmental compliance does, in turn, stimulate uptake.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The aerogel blanket for EV market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

Key companies in the aerogel blanket market, including 3M, Aspen Aerogels and BASF, are increasingly extending the product portfolio, improving material performance and lowering manufacturing cost. They are also putting money into R&D to develop innovative lightweight, strong aerogel solutions specific to EV usage. Partnerships with automotive and supply companies allow them to incorporate aerogel blankets into next generation battery systems. These companies are also looking into environmentally friendly production operations, as well as meet and exceed the changing environmental standards to stay in the market.

List of Market Players Profiled

• Aspen Aerogel (U.S.)
• Guangdong Alison High-tech (China)
• Shenzhen Zhongning Technology (China)
• Guizhou Aerospace Wujiang Mechanical and Electrical (China)
• Van Research (China)
• Jiangsu Jiayun Advanced Materials (China)
• Zhongke Runzi Technology (China)
• Hualu Aerogel (China)

KEY INDUSTRY DEVELOPMENTS

June 2023: Aspen Aerogels has announced the release of next generation aerogel blanket, which is specifically targeted for use in electric vehicle (EV) thermal management. In this work, the goal has been to enhance battery efficiency, to decrease weight, and to increase safety. The latest product provides excellent thermal insulation at an affordable price, a solution for the increasing need for sustainable and effective EV technologies. Aspen's innovation seeks to help EV manufacturers fulfill thermal management needs and enhance the vehicle performance.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This report provides a comprehensive analysis of the global aerogel blanket market, focusing on key drivers, restraints, and emerging trends shaping the industry. It divides the market by type (3mm, 2mm, and others) and application (passenger cars, commercial vehicles). The paper also discusses how some of the largest contributors, including COVID-19, geopolitical struggles and local dynamics in North America, Europe, and Asia affect the current state. Furthermore, it also draws attention to key industry players and their tactics for holding market share.