In one embodiment, an aqueous dispersion liquid contains at least one particles selected from tungsten oxide particles and tungsten oxide composite particles. A mean primary particle diameter (D50) of the particles is in the range of 1 nm to 400 nm. In the aqueous dispersion liquid, concentration of the particles is in the range of 0.1 mass % to 40 mass %, and pH is in the range of 1.5 to 6.5. The aqueous dispersion liquid excels in dispersibility of particles and capable of maintaining good liquidity for a long period.